Why Bringing On A Junior Partner Is Worth Giving Away Some Ownership

How do you get more new patients or hire more clinicians at your clinic and yet still remain profitable? This is the question, and I'm on a journey to get you the answer. I'm going to interview the best marketers and clinic owners across the world to give you access to their winning strategies from recruitment, marketing, operations, finance, and more. So you can easily take action on the secrets to grow your clinic. I'm Rick Lau. Welcome to Clinic Boss Secrets. Hey, everybody, it's Rick Lau here. This episode is for clinicians who are thinking about owning a clinic. And one of the best way to do it is actually become a junior partner at a clinic or a managing partner. Now, why would a clinic owner do that? Check out this episode. Paul Moon, one of our business coaches here, actually talks about why a clinic owner will give up equity or give up ownership at his clinic for a really good partner at his clinic. Check it out.

But there's a. There's a lot of reasons. The first one that comes to mind is it's being a single clinic owner is actually quite a lonely journey. You're dealing with a lot of shit, right? And I know with ptl, there's no way we could have accomplished what we did unless we had multiple people with skin in the game growing that business. And it's nice to have someone, a partner who understands exactly what they're going through, right? The second thing is it. For me, it provides me a lot of security because especially if I'm doing multiple locations, right? And so currently I have seven locations. Every single one of my locations have a senior partner. If you're a CD or just an employee, what's really keeping you there? You know, maybe it's a great job, maybe you're getting paid really well. Maybe things are going all right, but maybe you're looking at other positions. Maybe you're looking at opening up your own clinic. And I can't have that kind of insecurity by not having someone who's tied to the location, right? And I want that person to benefit, right? If that person benefits, they're going to want to stick around. It's not just the contract that keeps you there. It's. You're actually part of this business. You're an owner. That in itself is key. Which leads me to my third point, and I think someone. I think Sam wrote it in there. If you own part of this business, you care tenfold more about the business than just as a regular employee. You're actually willing to move the needle because guess what, it's your own hard earned money that's been invested in the business. And I'm not sure what's happening with your situation, but I don't give my shares away for free. I make people pay for those shares. Why? Because if I gave it away for free, they would not value those shares. Right. I make people pay so that they know that it's their own hard earned money and they're gonna actually do something, do something with that investment that they just made. Right? I'm not trying to rip people off, don't get me wrong, I give very, very, what do you call it, friendly sort of valuations to the business. But they have to put something in because if you don't, then you don't have skin in the game.

Hey clinic bosses. Are you dealing with a revolving door of staff? Whether it's a physiotherapist, chiropractor, or even front desk? Are they leaving because of your leadership or clinic culture? I got some good news for you. I'm hosting this event called Clinic Boss Meetups. We're going to be having in seven different cities in Canada. Calgary, Edmonton, Ottawa, Montreal, Vancouver and Halifax. You're going to learn from the top military million dollar clinical owners on how to make your clinic a great place to work and avoid quiet quitting. And the best part of all, we got free food and drinks so they can network with other clinical owners who get you. And let's face it, networking is way more fun when you have a cocktail in hand. So what are you waiting for? Register at www.clinicbossmeetup.com before we sell off. There's only 60 spots per meetup and we're likely to settle pretty soon. So see you there. If you found this helpful and want some free resources to help you be an even better clinic owner, head over to clinicbosstools.com we've got tons of free stuff on getting new patients, bone strips, selling your clinic, managing clinical teams, and much more. Head over to clinicbosstools.com.