"You can get past the dead end. You can break through the ceiling. I did and so have countless others."
In this episode, Justin welcomes back Peggy, a women’s health nurse practitioner who first appeared on the podcast nearly two years ago. Since then, her practice has grown into a multi-provider, multi-location business serving hundreds of patients each month, giving her the freedom to step away knowing her team and systems will continue to thrive. The conversation is a powerful reminder of what’s possible when you commit to building something bigger than yourself.
Together, they discuss what it really means to transition from being self-employed to becoming an entrepreneur. From hiring and leading providers to creating clinical protocols, protecting your brand, and maintaining exceptional patient experiences as your business grows, Justin shares practical advice on scaling intentionally and sustainably.
Whether you’re preparing to hire your first employee or dreaming about building a practice that can one day run without you, this episode offers an encouraging look at what the next stage of practice ownership can become.
00:00:02:12 – 00:00:24:07
Unknown
Greetings. This is just an hour for nurse practitioner. Welcome to the Elite Nurse Practitioner Show podcast dedicated to nurse practitioner entrepreneurism and achieving financial freedom, where I talk directly with nurse practitioners who need help. Listen up. Our market is saturated. Jobs can be scarce. We are underpaid. We are undervalued. We are taken advantage of by the sharks within the healthcare system.
00:00:24:07 – 00:00:47:14
Unknown
And frankly, screw that. Sick of it. It’s time for a change. And listen, I’m here to help make that happen. We are powerful. We can forge a path. We are in control of our career and ultimately our financial and personal well-being. You do not need to submit to healthcare ministry and your doctor who you don’t have to take the easily salary.
00:00:47:16 – 00:01:08:22
Unknown
You do not have to work 50 to 60 hours a week. There is a different way. I’m here to show you that path. This podcast is written for. I have not talked to the nurse practitioners of this podcast prior to the call. Outside of an email exchange to schedule the episode. What you’re about to listen to is a consultation session between the nurse practitioner and myself.
00:01:09:03 – 00:01:31:00
Unknown
It is real. Is it scripted? It is unplanned. I have no idea what we’re going to talk about. Anything and everything can happen. During our conversation, the nurse practitioner. These episodes are struggling with an issue in their professional or financial life. They have reached out to me for help. My goal is to help the nurse practitioner with actionable advice that will enhance their professional, business and financial life.
00:01:31:01 – 00:01:55:03
Unknown
My other goal is to hopefully help my nurse practitioner, sisters and brothers build a more productive, powerful and free life. So I hope the content information within these podcast episodes does just that. All right unto the. Everyone today will be talking to Peggy, who is a women’s health nurse practitioner. We talked to her previously on episode 121, where we covered scaling concepts to go back and listen to that.
00:01:55:05 – 00:02:17:07
Unknown
Today, her practice has grown, and now she’s needing assistance with provider patient relationships and scaling her brand and her business to the next level. A big area. Good. Justin, how are you? I’m good. So we talked on, I don’t know. Was about two years ago or so. So I guess bring everyone up to speed. So with kind of where you were at a couple years ago and where you are at now.
00:02:17:09 – 00:02:36:17
Unknown
Okay. So I opened Trust Women’s Health Care in 2021. And when we had spoken, you know, I wanted to really, not work one of the business to work for me. I didn’t want to work in the business as much, so I wanted to hire other employees. And I was a little apprehensive because, you know, my baby’s my brand.
00:02:36:19 – 00:02:58:11
Unknown
So you were really encouraging and kind of walking me through that. So since then, we’ve been open for five years. I now we have a total of five providers. And I opened another location, which is about 30 miles away from one another. We are still insurance based. We do, self-pay patients, especially for those who don’t have insurance.
00:02:58:13 – 00:03:22:17
Unknown
The brand has really scaled. I mean, we’re seeing over 400 visits a month. Between the five providers, I’m able to go on vacation. I went to Asia for two weeks. They didn’t call me. I didn’t, patients were being seen. Money was being brought in. So this was actually really, really good. I’ve been featured on different media outlets, promoting women’s health.
00:03:22:19 – 00:03:59:08
Unknown
I, we really niche down to not just preventative gyn, but, you know, PCMag’s menopause. Perimenopause, like the real conditions that women really need assistance with that they can’t find from just a general ObGyn. You know, I have clinical protocols, for my providers, I have, standard operating procedures. We have three Vas. So, you know, a lot has changed in, the two years, and now I feel like I’m more of a CEO with, multi-location practice.
00:03:59:08 – 00:04:23:19
Unknown
And, as opposed to a self-employed, nurse practitioner. So I’m. I’m really excited about this. Good for you. Good for you. Oh, yeah. Good. Yeah. So you truly moved from self-employed entrepreneur at this point? I yeah. Yeah. You hit the nail on the head. You, before you were just self-employed. Now you’re an entrepreneur. Now you have people working for you.
00:04:23:19 – 00:04:46:02
Unknown
Now you have another location. Like, you can go on a two week vacation, and I’ll have to think about this. Yeah, right. That’s what an entrepreneur is. An entrepreneur builds a business like that. And most people listen to this. Are the self-employed. So, so yeah, so well done. You know, revenue wise, what are you doing? If you don’t mind sharing, I’m just curious.
00:04:46:04 – 00:05:14:15
Unknown
Sure. Like, you know, real general, like, we see over 400 patients a month, and even with insurance based, average cost per visit is maybe about $190 per visit. But I reinvested a lot of our, you know, margins back into the business, especially having the two locations. The second location as well as the clinical team. So I reinvested a lot of that, you know, also, you know, courses and things of that nature.
00:05:14:20 – 00:05:35:03
Unknown
So we’re we’re doing pretty well, when I’m not quite where I want to be yet. I think 500 visits is a good goal at this point with the current infrastructure that we have. So, and, you know, we’re still fighting with insurance, but we we’re making it work. So are you are you making a profit on a monthly basis right now?
00:05:35:08 – 00:06:03:07
Unknown
Oh, absolutely. Absolutely. Yeah. It’s all we’ve been profit since for, since the practice have been open seven months. So we we beat profit. Yeah. Yeah. Okay. Is this $1 million business yet? It’s projected this year. So, we’re really excited about that. It is that that is. That would be grosser. Gross. Yeah. Gross. Okay. All right.
00:06:03:09 – 00:06:25:17
Unknown
Perfect. So let’s get you $2 million net. That’s what we care about. Okay. Yeah. Yeah. Like, we. You know, if you ever want to sell this practice, it’s going to be a lot easier to sell if we can get you to a million net. All right. Anything below that is. It’s kind of difficult to sell. So I don’t know what your grand goals are, but that should always be at least an option, right?
00:06:25:20 – 00:06:45:02
Unknown
So if you want to have an exit event, you know, three years down the road or something like that, you know, you want to just be set up for that just in case, you know. Absolutely. And and just listening to, you know, all your podcasts and, just having that exit plan because again, we’re, I’m building this brand and it’s pretty much the infrastructure is there.
00:06:45:07 – 00:07:13:04
Unknown
It’s just not. I’m still having fun. I’m still enjoying being there, seeing patients and growing to where I’m so young as well. So, I think that I still have some years, but that is eventually the goal. And how old are you? I will be 47 soon. Yeah. So, see, like anyone listening to this right now, Peggy started when you were 40, 43, 42, 43.
00:07:13:04 – 00:07:32:23
Unknown
So it’s not too late to start if you’re in the 40s. No, no, not at all. Right. You changed. You changed the trajectory of your career. You could still be stuck in some shit job, right? Absolutely. And that was the driver of me opening my own practice. Because I was just tired of just the rat race and not being heard and not moving up.
00:07:32:23 – 00:07:50:16
Unknown
And I was like, listen, I was like, I can do this. So, that was the driver, to be honest. And I think it was the best decision. And I think I agree with you and your previous podcast, who said that? I wish I would have left sooner. I wish I left my 9 to 5 sooner. Right. That’s the regret everyone has.
00:07:50:21 – 00:08:11:10
Unknown
The regret is not I wish I didn’t start this business. The regret is I wish I would have quit my job a hell of a lot sooner. Yeah. Always. Always regret. Yeah. Hundred percent on would. Yeah. Okay, so let’s talk about how to get this thing to the next level. So let’s first address, I guess one of your, I guess one of your big problems right now.
00:08:11:10 – 00:08:30:10
Unknown
So. So you have this problem with Uber. If you just told me this before we started the call with, you know, the patient, the provider relationship, people seeing other providers not wanting to see, you know, not want to see other people. They want to see you instead, like this entire dynamic. So walk me through this problem a little bit.
00:08:30:12 – 00:08:49:08
Unknown
So, you know, I’ve been the face of the brand. I have been on the social media platforms. I have been trying to put my other providers on there. So they get familiar there on the website so patients get familiarized. But when patients call, you know, they want to see me, my mas. They try to have them schedule with other providers.
00:08:49:08 – 00:09:13:11
Unknown
I mean, it’s been going pretty. It’s been going okay. Like they they do have volume, but they’re not maximized. Like there’s still room for them to see more patients. So is this really trying to get, patients to see the other providers who are who are fabulous? These are all, you know, all women, you know, they’re reliable.
00:09:13:12 – 00:09:36:20
Unknown
They you know, we’ve all you know, we have meetings. We’re all on the same page in terms of patient care. So I’m not that’s not the issue. The issue is really getting not even just the established patients. They’re like no, they’re like, I’ll wait for for me it’s it’s okay. But the newer patients, it’s like really trying to get them to see the other providers.
00:09:36:22 – 00:09:56:17
Unknown
You know, I’ve danced around just not seeing new patients at all. But then it’s like, okay, am I hurting the brand and the revenue by by doing that best? The risk? I don’t know if I don’t know if I’m going to. I’m willing to take at this point. Well, I think first off, it’s a risk you have to take.
00:09:56:19 – 00:10:21:08
Unknown
Okay. Like, I mean, you have two options here, right? You don’t take that risk. And this thing is still very reliant on you in a way, you know, and you aren’t able to maximize their return on this other investment over here that you made hiring these providers and training them and stuff. You’ll never be able to fully capture that return.
00:10:21:10 – 00:10:42:19
Unknown
If you don’t don’t take that risk. Right. But if you take that risk now, this is paying off, you know, to these, these providers that you’ve hired and trained and now you’re able to free up a lot more time as well to do what you got to do to get this business to the next level. Right? So I think it’s just a risk that you have to accept.
00:10:42:21 – 00:11:02:02
Unknown
Will there be people who will not be happy with that? Of course there will be. Okay. Now, I had this exact same issue with my men’s health clinic. All right. So I was the I was I was the product, right. Everyone wanted to see Justin. You know, I was the only provider there for the first, you know, 2 or 3 years.
00:11:02:04 – 00:11:27:12
Unknown
And, you know, every patient was mine. And so, you know, I hired another provider, then I hired another one. And, I basically just told the, the front desk, my medical systems and stuff. I told them I was like, every new patient who calls gets scheduled on these other providers. No question about it. Unless they are just adamant about it and they are making it a problem.
00:11:27:12 – 00:11:46:07
Unknown
Like they’re not going to schedule at all whatsoever because their friend sees me and they only want to see me. That kind of a thing. Right? Then. Fine, I will see them. But this is not this, this is not this is a very, very this is an exception basically. Right. Like this is I don’t want this to be a rule here.
00:11:46:07 – 00:12:08:02
Unknown
Like this is an exception where every once in a while you can schedule new patient or any kind of a thing, right. If they’re just adamant about it. Otherwise they don’t have a choice or any other providers. So first off, so when people are first calling for the initial intake or whatever to get established, that’s their options. The option isn’t to see you unless they just make it a problem.
00:12:08:06 – 00:12:34:09
Unknown
Right. There’s always going to be someone like that. There’s just always will be okay. But you should be able to get 80 or 90% of new patients off of. You should be able to. Okay. Now what about all your established patients. Right. That’s that’s an issue. And so what we did was, when it was time for my patients to follow up with me at their 3 to 6 month follow up or whatever.
00:12:34:11 – 00:12:55:17
Unknown
The, the, the Mas would call them to schedule their follow up after they got their blood work done. And we would basically, you know, have a little, a little white lie, kind of a thing. We would tell the patients just in schedules for, for the next 3 or 4 weeks, okay, for the follow up, but we can get you in with so-and-so tomorrow if you want.
00:12:55:18 – 00:13:11:11
Unknown
They’re just as good just in train them. They’re fully experienced, blah, blah, blah, whatever. And you know what? 63% of the patients didn’t give two shits and they went over to the other person. And then once they went over there, they stayed over there. So I was able to unload almost all my patients over a period, about six months.
00:13:11:13 – 00:13:32:05
Unknown
No problem. And and it’s interesting you say that because in our Brooklyn location, we are I am booked out weeks like you can’t get an appointment weeks. My other location in Deer Park, we are still trying. I’m there only two days a week. I am book, but I, you know, again, I still have availability, but Brooklyn is like.
00:13:32:06 – 00:13:48:17
Unknown
Like you can’t get in to see me in Brooklyn for the next. I think I earliest is like in about 3 or 4 weeks right now. So that’s how they’re able to offload a lot of those patients because they’re like, no, I need to get in and I need to see someone. But you know, initially, you know, they’re like, nope, want to see her?
00:13:48:17 – 00:14:07:12
Unknown
And that’s it. So I definitely hear that’s that’s I mean, it’s a good problem to have, but but yeah, it’s, it’s a challenge for myself. Yeah, it’s it’s a real problem. It’s a good problem, but it is a real problem. Yeah. No problem. It’s going to be very hard for you to grow and scale this thing in a way.
00:14:07:12 – 00:14:34:09
Unknown
If, if, if all these people just want to see you. So I think what I would do if I was you is begin starting to offload some of these follow ups on other providers if you can. Okay. Some people aren’t going to care. They’re just not okay. Some people who are just dialed in who don’t need that much from you anymore, you know, these people who just need refills at this point, like it’s just to simple visit kind of a thing.
00:14:34:11 – 00:15:01:06
Unknown
There is no reason why these other providers can’t see those people, and those people are probably just more or less like, you know what? I’m dialed in. I don’t really care. So I would just try to just slowly move these follow ups over to other people. Start there at least. And then the new patients. I know you said it’s a challenge for your staff, but come up with some kind of script, come up with some kind of reason why these patients should see another provider.
00:15:01:07 – 00:15:22:18
Unknown
Okay. That’s well, I would probably approach it, you know, maybe say something like, well, listen, this other provider is actually a lot more skilled at your problem, you know. Yeah, I know he’s a little white. Lies, but. Well, yeah. And they’re all fabulous, which is great. But what I’ve been saying. Right. They’re just as good as you are.
00:15:22:19 – 00:15:53:00
Unknown
Yeah yeah yeah yeah yeah. Like the patient’s going to receive the same treatment, the exact same script. They’re going to receive the same thing like. Absolutely. Yeah. So, I would just say that needs to be your number one priority then is to try to get as much of this off of you as possible. And then ultimately, you know, after a little while, it’s as simple as Peggy doesn’t accept any more new patients.
00:15:53:00 – 00:16:10:09
Unknown
We are sorry. That’s just it. There’s just there’s no more exceptions made at all. Like that’s the rule. Now, I don’t see any more new patients. I’m sorry. And that’s how it is in my men’s health clinic. I haven’t seen a new patient in. I know, a year and a half. Two years. Oh, okay. I don’t even know if I can even do a new patient.
00:16:10:09 – 00:16:32:14
Unknown
This year. Like riding a bike. Yeah, I know, but that’s good though. Yeah, I guess so. So I think that’s just what you have to do. You gotta put your foot down. You will probably there. There will be a couple people who might leave, maybe, you know, but I wouldn’t worry too much about that. I don’t think this is that much of a risk.
00:16:32:18 – 00:16:53:05
Unknown
Honestly, I really don’t. I don’t think people are willing. I don’t think they would leave because they can’t see you. Then they have to get reestablished somewhere else. And whatever you are, you have another provider. It’s happy to see them, you know. So yeah. And and also this is a conversation you should be having with some of these people.
00:16:53:07 – 00:17:10:06
Unknown
You know, you could just say something. And I had these conversations with some of my patients to the ones that I knew that might be a little bit difficult. I would have a conversation with them during a follow up, and I would just let them know, like, hey, listen, I’m really starting to cut back my hours here. I got some family stuff going on, blah, blah, blah, whatever.
00:17:10:08 – 00:17:31:20
Unknown
And, you know, I’m trying to decrease my patient load. I mean, listen, you’re you’re dialed in at this point. These follow ups that we are having are pretty quick. Like there’s really nothing new you need for me. My associate over here is more than capable of seeing you and actually having a fresh eye on your labs and your symptoms and your presentation and diagnoses, or whatever actually might not be a bad thing.
00:17:31:20 – 00:17:54:12
Unknown
And, you know, when I had those conversations with people, a lot of times they would just be like, yeah, that’s fine, no problem. You know, if they hear from you. So yeah, so definitely going to try to do that. Because like you. Right. I can’t go to the next level unless I start, of offloading. And like I said, the, the providers, they have the bandwidth to get to our goal numbers.
00:17:54:14 – 00:18:18:19
Unknown
They definitely do. Yeah. So they maximize them. Right. Like, I mean, they maximize your pain and maximize it. Yeah. Yeah. And another thing too is, you know, if you would like to offload to sell this business in 3 to 5 years from now or whatever, you know, then you have to you got you got to be out of it as much as possible.
00:18:18:21 – 00:18:40:20
Unknown
You know, I, I sell practices on the side, you know, I broker them on the side. And, we had a very, very hard time selling this telemedicine based practice. I did a lot of HR and stuff. We have very hard time selling it because 50% of the patients were on the founder of of that practice.
00:18:40:22 – 00:19:05:04
Unknown
Only only 50%. Like the other 50% were on the other providers, but 50% were on him. It was a key man risk. And it was very, very difficult to eventually find a buyer for his practice. It took us a lot longer than it should have, and he didn’t get as good of a deal as he could have if he was only seen 15 to 20%.
00:19:05:06 – 00:19:26:16
Unknown
Okay, so very, very important if you do want to have an exit event. Got it? That’s good to know because I think I see more than 50% of the patients right now. So yeah. Yeah. So like if you want to sell your practice now be almost impossible. Yeah. Should be very difficult. You would be nickel and dime. You only get a fraction of what this business is actually worth.
00:19:26:18 – 00:19:47:11
Unknown
Okay. So, so something to keep in mind if you want that. I make it a goal in your head. Be like, you know, I would like to have the optionality of selling this business for three years from now, five years from now, if you’re 47 years old and you want to say, you know, I would like to be semi-retired at 50, then over the next three years, you need to make that a goal.
00:19:47:11 – 00:20:06:23
Unknown
And then when you are 50 years old, you can say, okay, let’s, let’s, let’s see what we can get for this thing. Let’s go to market. Let’s see if we can sell it, you know, and you’d be you know, you’d be surprised. So it’s up to you on that one pick. No. Absolutely. Yeah absolutely I like I don’t want to be doing this forever.
00:20:07:01 – 00:20:27:16
Unknown
I think that built a great practice. And changing the landscape of women’s health. So I think that that is my eventual goal, especially as I’m getting older. And then now it’s really simultaneously trying to set up, what am I going to do after? Like I’m probably I can’t just sit still. So, is this really what am I going to do after?
00:20:27:16 – 00:20:49:12
Unknown
So that’s why I’ve kind of like, okay, I have the practice and then start doing other ventures to see again. You know, listen, when I sell the practice, if, speaking engagements is always my thing, I love speaking about, you know, just the experience. We all have an expertise. People need this. So trying to do that, trying to do courses on specialized conditions.
00:20:49:17 – 00:21:09:08
Unknown
So so I’ve been kind of dabbling in that as well. Yeah. You figure out yeah. You figure it out. I mean you’re not going to sit around. You know, I’ve sold most of my businesses at this point or partnered with, you know, private equity or whatever. And you know, I was kind of worried about that, too. Like, what the hell am I going to do, right?
00:21:09:10 – 00:21:47:17
Unknown
And I mean, look at me now, broker and practices on Twitter, I do. I’m like, I just sit around, you know, like do something, right? I mean, I tried the whole I’m gonna go fly fishing every day thing, that shit, you know, it gets old. Like it just does, like. Yeah. Yeah. So, the other issue that I’m having, and I’m sure a lot of other practices are having, is retention of mas, you know, I’ve, I’ve taken, you know, your advice in terms of, you know, paying them well doing, you know, bonuses here, really making a great environment.
00:21:47:17 – 00:22:13:10
Unknown
But let me tell you, they’re not loyal at all. It’s, it’s been a challenge. So what I did was I said, you know what? Let me create this, my intern program and having, you know, 1 or 2 of my intern, my mas trained these interns. And really, in essence, they’re learning at the same time, they’re front desk staff.
00:22:13:12 – 00:22:50:01
Unknown
And, I mean, it’s we’ve we’re about a month in and it’s been working, but it’s it’s been a like it’s been a revolving door. Yeah. This is I mean, this is a this is a problem. This is a struggle with every single practice. It just is. You know, one thing that, and I’m sure you probably realize is now that you’ve been in the game now for about five years, but a lot of people don’t realize this is that, you know, just because you care about your business, just because it’s your baby, just because it’s one of the most important things in your life, does not mean that medical assistant gets two shits about your
00:22:50:01 – 00:23:10:15
Unknown
business. They’re that it’s a job. It’s a job that they show up, they get paid, they go home and they do Netflix or whatever. They don’t care, right? It’s a job. So you need to just, you know, realize that. I mean, I think you have realized at this point at some that it takes you a couple of years to finally realize that no one really give a shit.
00:23:10:17 – 00:23:36:08
Unknown
Yes. Yeah. You know, so, so basically, I think that, I mean, are you paying them more than the average in the area? Yeah, I was paying my mas $25 an hour, which is, which is a lot compared to the area the area is paying them maybe 18, 19, no more than $21 an hour. And then they were getting a bonus every year.
00:23:36:12 – 00:24:00:17
Unknown
Every quarter I take the staff out. And it’s not hard, like the work in the office is not hard, even though we’re seeing a good amount of patients. The visits are 30 minutes, like, it’s not something where patients are waiting two hours to be seen, like it’s easy. It’s so, you know, I think that I’ve done all that I can to kind of create a great work environment.
00:24:00:22 – 00:24:20:16
Unknown
But again, it just comes to realization that there is just going to be a revolving door for this position. For me, it’s just it is what it is. And I just came to that realization. I’ve automated as much as I can, you know, the VA’s. That’s why I hired the Vas, because they’re a little bit more reliable and they’re more cost effective than in person staff.
00:24:20:16 – 00:24:52:10
Unknown
And just getting, you know, you know, I’m getting I receptionists in in that as well. So just automating a lot of things on the back end. So if I have like one ma between the two locations, you know it’s it’ll it’ll be doable. It sucks. But you know, there is not much, that I have not, you know, I’ve done a lot to try to retain, but it’s just it I just came to the realization it is what it is, and I just have to work on it.
00:24:52:12 – 00:25:11:10
Unknown
Yeah, I mean, it is it. It is what it is. You know, most amazing you’re going to hire in the age of 30, almost all the more. There’s very few are over the age of 30, you know, they’re out there. Yes. But, you know, a lot of these people, it’s just it’s a job. They got certification as an Ma or whatever.
00:25:11:10 – 00:25:33:22
Unknown
It took them six weeks to get or something, you know, and to them, it’s a job there. And as soon as a better opportunity comes along, they are going to take it. They just are. Even if it’s an extra $2 an hour. Okay. These people live in a different they’re they live in a different world than a provider business owner does.
00:25:33:22 – 00:26:04:07
Unknown
Like it’s completely different. You know, like our vacations could be 15, 20 grand. There’s our $2,000, you know what I mean? Like, it is a big difference. Like, you know, big difference, right. So so these people I think that you have a couple options. Number one, accept the fact that they just is what it is. Pay them well, give them bonuses, pay for lunches and shit like that.
00:26:04:07 – 00:26:26:00
Unknown
Make it a good place to work. If they don’t see the value in that, then they don’t see the value in it. They find a better opportunity. They find a better opportunity. There’s absolutely nothing you could have done different. Nothing. Right. So accept that. So the options you got are either hire older mas who aren’t looking for different options.
00:26:26:00 – 00:26:45:17
Unknown
They’re not young. Not going back to school. They’re not doing these kinds of things. They’re 35, 40 years old. They got a kid at the house or whatever. And this is their job, right? They don’t really have a choice. So those are typically going to be a lot more loyal, you know, of a, of a worker. That’s, that’s that’s one option.
00:26:45:23 – 00:27:10:14
Unknown
The other option is to think about maybe finding a higher level individual. Right. An LPN or an aunt. Now, I do know they are a hell of a lot more expensive. They are. But if a rank could do the job of two nurses, then essentially you pretty much are. It’s the same amount of money at the end of the day, close to right?
00:27:10:16 – 00:27:31:16
Unknown
Yeah. Now the authority can do other things as well. It can generate revenue in your practice like IDs and statics or whatever. Right. They could even do some follow up visits for you as well, following different clinical procedures and clinical protocols and whatnot. Right. So so it’s something to think about. And RNNs typically aren’t going to be they’re not going to turn over like that.
00:27:31:18 – 00:27:52:01
Unknown
Not as much as an Ma will. I mean, some of them will, but a lot of will not. Especially they’re coming out of the hospital now. They’re working at a clinic that’s Monday through Thursday or something, and then they don’t have to wipe ass and stuff like it is a win. Like, you know what I mean? So so it could be something to think about as well if it makes sense.
00:27:52:01 – 00:28:13:22
Unknown
If it doesn’t, they don’t even bother with it. I think the only other option you got at that point is to either give these individuals promotions, turn them into more like assistant clinical managers or something, even though they’re going to be doing the kind of the same thing, but give them a little bit more responsibility, potentially. Maybe the bonuses should be a lot more frequent than just once a year.
00:28:14:00 – 00:28:31:19
Unknown
All right. At my men’s health clinic, we typically do two bonuses a year one in July, one at Christmas. That’s what we typically do. And then also throughout the year, you know, I’ll give 100 bucks or some cash here or there, you know, or buy lunch for everyone or fill up the gas tank, you know, just stuff like that.
00:28:31:21 – 00:28:47:20
Unknown
So you could try those things as well and see if that works. If that still doesn’t work, then, you know, people just don’t see the value in it. And they’re they were going to leave regardless of what you what you were going to do. You got to accept. Right. So yeah. So yeah, I don’t know what your thoughts on all that.
00:28:47:22 – 00:29:15:17
Unknown
No, I think that though that those are all great ideas. I never thought about the LPN, route. So that’s something that I definitely would look into because you’re right. Because you can’t they can be utilized for other things as well. It’s just come to the realization, and then also the other thing that I’ve done as well is and like externships, like the schools that they need facilities, you know, for externships.
00:29:15:19 – 00:29:42:13
Unknown
So I’ve hired some from the, the externships, but then again, they use the office as leverage to get another position. So it’s just the nature of the beast now. But but I’ll look into the R.N., LPN because I’m sure that there are so many other things that can generate revenue, for, for the brand, with you, like just going to the just the salaries is going to be higher.
00:29:42:15 – 00:30:05:02
Unknown
It’s just going to be higher. Right. So that’s why I’m saying like make sure they’re getting make sure it’s worth it to you. Right. So I do I know a lot of practices that do this. Like they will have their RN’s do the maybe the initial intake with the patient at the labs order, and basically everything is ready to go for the provider handed off, that kind of thing.
00:30:05:04 – 00:30:27:13
Unknown
They will do follow ups on very, very routine things. Right. Medication refills, whatever. Okay. This is your bloodwork. I’m gonna follow this clinical protocol that you designed, just like any other clinical protocol that is in a hospital or whatever, right? They just follow it. Okay? These labs are all within range of whatever they make their refill and their GLP one as an example.
00:30:27:15 – 00:30:42:13
Unknown
Right. So you can have it all and do that. You just make sure you guys sign off on it and obviously do a second review. But that only take you one minute. Can their chart click like yeah okay. That’s what exactly what I have done click accept. Right. So so yeah. So you could use them for that sort of a thing.
00:30:42:13 – 00:31:00:00
Unknown
I these statics I mean there’s a variety of things that Oregon can do. So so I would think about and maybe having a R.N. come in who can do some esthetics is an injector or whatever, maybe that would benefit your female patients. So maybe I would actually be a decent money generator. You never know. It’s all cash too, right?
00:31:00:03 – 00:31:34:23
Unknown
So absolutely. Yeah. Yeah. So think about, you know, okay. Anything else there? This last thing in terms of, other opportunities for entrepreneurs like myself, like, that, you know, of that maybe not been tapped into just in terms of just having different, revenue, especially passive income as well. Just other streams of, income coming in this other opportunities that, you know, of.
00:31:35:01 – 00:31:53:05
Unknown
All right. I hope everyone’s enjoying the episode so far. I just wanted to take a quick break to thank everyone listening, and also give a big thank you to all of my social media followers and email subscribers. If you haven’t done so yet, please subscribe to our email list at WW, WW lead np.com and make sure to follow us on Facebook, Instagram and LinkedIn.
00:31:53:11 – 00:32:18:04
Unknown
Email subscribers will receive updates on new weekly podcast episodes, multiple weekly articles, we publish, new courses and everything else related to helping you succeed. Remember, all elite nurse practitioner courses are designed to help you build in each practice, increase your financial strength, and to break free from the rat race. If I can break free and the other countless nurse practitioners can break free and so can you.
00:32:18:04 – 00:32:41:00
Unknown
Additionally, please share this podcast with your other nurse practitioner sessions with others out there. The more NPS that venture out on their own, a stronger our profession will become. Now let’s get back to the episode. Well, I don’t know. I mean, I can’t really tell you very, very specific opportunities. I mean, there’s a wide variety of things that you can do right?
00:32:41:02 – 00:33:01:13
Unknown
I mean, creating a business is one of them as an example, you know, doing I know a lot of entrepreneurs that do real estate on the side of their real estate license, and they just like doing it because it’s something completely different, you know what I mean? Actually, no way. I actually know a physical therapist who, I mean, this girl is smart.
00:33:01:14 – 00:33:21:14
Unknown
Like, she’s she’s more educated than any nurse practitioner is like, she has her doctorate. And then she went on to get, like, this master’s degree in kinesiology. And then she got this physiotherapy certification out of Australia. All this kind of shit, like, she is fantastic. Like I see her neck and back and like, it’s ten times better than a chiropractor.
00:33:21:14 – 00:33:43:10
Unknown
But anyways, she’s a real estate agent as well, right? She of your own practice and a lot because she’s like she’s like, it’s just nice to do something different. That’s just what she told me. So it’s just nice. There’s no responsibility, there’s no patients, there’s no risk. I mean, you can show people some houses. She’s like, I make an extra like $80,000 a year by just being a very part time real estate agent.
00:33:43:10 – 00:34:12:19
Unknown
Right. Like that’s an example, you know? So, like, for me personally, though, what I usually recommend for people who are looking to, looking outside of their, their established business, yeah. I guess the question first, though, is, is do you still want to be within health care, or do you want to be something that’s maybe just different, like, you know, a new a new shade of, you know, sky, basically kind of if it’s a new I am open to it.
00:34:12:19 – 00:34:31:01
Unknown
If it’s a new, like shade, like a, like I just don’t want it to be hard. I don’t want it to be like, oh, I got to go and learn this. I just want it to be seamless. So, I mean, listen, health care is all I know, but, but if it’s something I’ll add another opportunity. I’m definitely open to a where I can make some revenue.
00:34:31:01 – 00:34:58:02
Unknown
Absolutely. Yeah. So then maybe what I recommend is, obviously leverage and maximize your skill set. First and foremost, how can you totally leverage what is it, you know, outside of the day to day stuff? Right? I mean, yeah, you can leverage your knowledge and go and keep seeing more patients and do more stuff in that way. But you don’t want to do that.
00:34:58:04 – 00:35:24:09
Unknown
You know, I don’t I that’s why I never started another practice. I don’t want to write. Don’t make I’m done it too. Yeah. I’m not opening another location like, yeah, I’m done too. Yeah, done. I just don’t want to write. So you can either if you want to just maximize what you have right now in front of you, you can expand your practice.
00:35:24:11 – 00:35:45:07
Unknown
Right. And open up other locations. You can even franchise it as well. So if you want to leverage what you have in front of you, okay, those would be two options. And a lot of people do that. They do very, very well. Right. Just leveraging exactly what they have. And then other people like myself, I just get bored and I just want to do something different.
00:35:45:12 – 00:36:10:14
Unknown
Okay. So leveraging maximize what you know in your space. But then how can you leverage that in something that’s completely different. So like that’s also talking about like a see business as an example or courses or speaking at conferences. Can you do some consulting. Can you, can you turn the knowledge and information you have into a software, an app or something, you know, can you write a book?
00:36:10:20 – 00:36:27:20
Unknown
Is there something that you can you use those skills and do something else with? So like right now as an example for me, I’m developing with my and I got a buddy who’s a computer programmer. I’ve known him since high school, and me and him are developing an app. That we’re going to come to market with here in the next, hopefully next couple of months.
00:36:27:20 – 00:36:50:12
Unknown
It’s going to be relevant to any kind of clinician, okay. Practitioners to radiology Technol tech, tech technicians, to everything. If you’re a licensed, you know person, this is going to be applicable to you. This app will and it’s going to be something cheap. The $10 a month. All right. That’s pure volume gain though there. Right. So it’s something that I’ve leased.
00:36:50:12 – 00:37:12:00
Unknown
I’m using my skills that I know. But I’m doing something completely different though. Right. So you have to just really think about what are some problems out there that you feel like that you can solve. I mean, without a problem, there’s not a business. Right? So that’s step you have to really think about because I don’t know exactly your wheelhouse of skills and knowledge and information.
00:37:12:00 – 00:37:31:10
Unknown
So I assume you have to really think about what are some problems out there that, that, that I can solve. And luckily now you have I to maybe even assist you with the brainstorming. Right. You could literally open up Gemini or Clot or whatever. And you can say, I want I want to brainstorm ideas for a new business.
00:37:31:12 – 00:37:51:02
Unknown
I want you to help me identify some problems that my set of skills, and then list out your skills can solve and see what ideas it might come up with. And then from there, you can then just continue brainstorming until you come up with an idea. Right? But you but you got to solve some kind of problem mean that’s you have to.
00:37:51:07 – 00:38:21:02
Unknown
Right. So so yeah, something to think about or you do something completely differently. Real estate as an example or investing as well. You know, a lot of entrepreneurs end up becoming accredited and professional investors. I mean, I’m an accredited investor at this point, and I spend it a lot of a lot of my time learning how to invest, you know, intelligently decrease my risk, increase my returns, etc..
00:38:21:02 – 00:38:41:00
Unknown
Like, I understand how the economy in these markets work now, and I understand what these various kinds of investments will do for you. And so, yeah, I mean, I make money doing that. Right. And it’s not really a business. It’s more of a thing. I just do, you know. So it’s a lot of ways to make money out there.
00:38:41:00 – 00:39:09:11
Unknown
You just gotta. Absolutely. Yeah. My husband’s in finance and he does all of that. So so it would be, but I definitely have thought about franchising. Just because, again, I built a great product, like a great brand. I’ve thought about franchising, and I also thought about, a problem that in health care that that is just in terms of patients and just the customer service of it.
00:39:09:17 – 00:39:37:20
Unknown
Like, I have this, I, I say it’s $1 billion idea. It’s just finding the, I guess the, the, the engineer to kind of really for it to go to fruition. Like, I think it’s a game changer, but it’s just actually getting the engineer to really map this out. But I think it would solve a lot of problems, especially in health care from a customer service point.
00:39:37:22 – 00:40:05:06
Unknown
Yeah, from a customer, from, customer standpoint, from a patient risk, decrease in risk of patients, you know, provider load in terms of even hospitals. So I think that, you know, the biggest problem we have, you know, in health care is conditions that go undiagnosed or results that patients are not, that are not told about.
00:40:05:06 – 00:40:29:13
Unknown
And then it cascades into a bigger problem. So I think that I’ve solved it within just, just patients really being, advised and to know what their numbers are, I, I can bill I can see it in my mind, but I’m not an engineer. I just have the idea and how it would work. And obviously I would prototype it, with, with my practice.
00:40:29:13 – 00:40:51:15
Unknown
But we kind of do it now, but we do it manually. But I think that there is an AI that can actually do it. It’s just I’m not an engineer thanks to building a computer. Yeah. If it’s done on a computer, digital space, I mean, I can figure it out. Absolutely. Finding an engineer to help you build an app or something is not that hard of a thing to do.
00:40:51:17 – 00:41:11:22
Unknown
Okay? I mean, there’s plenty of people out there that can do this for you. So, you know, I’ll, maybe talk about more more details after the call. Okay. Absolutely, absolutely. Yeah. But, yeah. So, I mean, that’s an idea too, you know? So, so anyways, go back to your practice, though, franchising, it’s an option. Okay.
00:41:12:00 – 00:41:33:01
Unknown
There are people who would love it who would pay for a franchise if it’s a turnkey kind of thing. Right. You give them everything that, you know, area you’ve worked on. And it’s the same branding and that kind of a thing that, that that becomes something that’s extremely valuable. That’s something that you could sell that easy.
00:41:33:03 – 00:42:00:09
Unknown
Okay. So, something to think about. Any other questions there? No, I think that, no, this was great and a lot to think about. In terms of the practice, terms of, future and just really trying to go to the next step. You know, I heard one time, you know, going from, you know, revenue of $1,000 to 500,000 is not going to get you to a million, and it’s not going to get you surpassed a million.
00:42:00:09 – 00:42:24:11
Unknown
So, and it is absolutely true. You got to change the way we do things to get to the different levels. And it’s absolutely true. Yeah. You do. Yeah. And honestly, in my opinion, I think hitting that first $150,000 is a lot harder than any a million. So if you can if you could do that, you could hit a million, because, I mean, you’ve proven the concept of the business.
00:42:24:12 – 00:42:48:04
Unknown
You’ve proven that the concept works. Now, how do I how do I get this thing to $1 million, $2 million, right. And at the end of the day, it’s just going to come to it comes down to extracting leads, right? Generating leads for your business, ensuring that there is a way to convert warm and hot leads into an actual customer.
00:42:48:08 – 00:43:16:13
Unknown
Right. And then increasing the actual volume of customers that you get and then being able to have the infrastructure in place to service those people, that’s it. Like that’s literally all you have to do to scale a practice. And for most businesses in general, that’s literally all you have to do. So if you simplify that settlement, difficult, right?
00:43:16:15 – 00:43:41:18
Unknown
Because it’s really not that difficult. It’s just you have to be willing to take a risk and to put some time and money into it, which it sounds like you’re willing to do because you’ve already done it. Right. So from what I’m hearing from you is that you have five providers on staff, right? Yeah. You have the bandwidth there, but it’s not being it’s not being maximized.
00:43:41:20 – 00:44:01:05
Unknown
So how do you do that? You just you had to increase the patient volume. You know, you had this, this, this, this, this goal of having 500, 500 visits, you know, a month I could go. Yeah, yeah, it’s a good goal. Hit that or hit that goal. Then I’d say the next one should be a thousand. How do you get 2000 visits a month?
00:44:01:06 – 00:44:30:04
Unknown
Right. And the only way you do that is by getting more patients. So how do you do that? Or are you marketing at all what I do Google ads. I the biggest, I’ve marketing that has worked is social media. Especially it’s it’s insane. I mean, I’ve spent thousands of dollars on, you know, ads, you know, Facebook ads.
00:44:30:06 – 00:44:53:21
Unknown
Print, digital, but TikTok, I don’t know what it is, the amount of patients that I’m getting from it, it’s insane. And so what I’ve been doing is maximizing that as much as I can. But other than Google ads, not really much. And I and my budget, I think I do a $1,000 a month for Google ads between the two locations.
00:44:53:21 – 00:45:15:14
Unknown
It’s not a lot. Yeah, I mean, I and you get patients from that. Yeah, we get patients from it, you know, between the two locations. And I don’t even have that many. Well, I say I don’t have that many Google reviews. One location has 60. The other one has, I think 160 reviews. They’re 4.5 and 4.9 on Google.
00:45:15:16 – 00:45:43:21
Unknown
I try to keep that active as much, but in terms of a huge marketing budget or spending lots of dollars in marketing now, and I think that, you know, could I. Absolutely. But I guess the ROI that that’s my issue, like I’ve done doc, which is I hate I hate off with a passion, but it works. So I keep a footprint there by between patients on social media, word of mouth, Google.
00:45:43:23 – 00:46:09:19
Unknown
Also referral partnerships with other providers that has also helped as well. We have a feeder, from a primary care practice sending a lot of patients our way. We have late hours, which is very, convenient for women. So, and then we provide the customer service, like a lot of women don’t get their results. So we call every patient with every single result so that they know their number.
00:46:09:19 – 00:46:29:16
Unknown
So like I said, I built a a really, really good brand. But again, I think I still think that there is still millions of people who don’t know we exist. And there is an opportunity there. Yeah. No, I mean no question about it. Yeah. Right. There’s no question about it. Yeah. Yeah. There’s no question. People don’t know you exist 100%.
00:46:29:16 – 00:46:53:14
Unknown
Yeah. So your Google ads for $1,000 a month on it. If you are getting patients on that okay. If it cost you $200 per, I mean, per patient, you’re getting, what, five patients a month from the Google ad. Do you have any idea how many patients you’re actually getting from that ad? You know what? I don’t know how many.
00:46:53:16 – 00:47:12:21
Unknown
But I always ask patients and the providers as well, like, how did you hear about us and the most is Google and TikTok. That’s the most, that we get. So I’m not sure in terms of the, the, the analytics of how many patients, but it’s definitely more than five ChatGPT. I get patients from that as well.
00:47:12:21 – 00:47:31:19
Unknown
I don’t know how, but I do. Oh, so the reason why you’re getting patients from ChatGPT or whatever is probably because you have content on TikTok and stuff like that, and on and on your website. Okay. That’s where it’s finding that information and it’s looking at the reviews as well. So you want to maximize all that. Okay.
00:47:31:21 – 00:47:49:04
Unknown
You know, you should you should start your goal. The next three months should be doubling the MI reviews you have on your Google profiles. Okay. Do whatever you have to do to get patients to leave you a review, right? Whatever you have to do, there should be no reason why you have five reviews on there. If you have 500 visits a month.
00:47:49:05 – 00:48:11:03
Unknown
Yeah. All right. Okay. That is a goal like and I would make sure that that goal is not is not the responsibility of your $25 an hour medical assistant and receptionist and your Vas. It is the goal of the providers. I would be telling these providers, listen, we need more reviews. I want I want to get you guys busy, get you guys make it more money and that kind of thing.
00:48:11:03 – 00:48:29:00
Unknown
We are going to do that by getting more reviews. So that should be your goal and every provider’s goal. Can you please leave us a review at the end of this visit? I’d really, really appreciate it. Just something like that. Okay. And also incentivize people possibly to give them something for free or whatever. All right. Get yourself some reviews.
00:48:29:00 – 00:48:48:12
Unknown
Just think about what that would be. You said most your patients coming from Google and TikTok, those are people who are warmed up to the idea they were looking up something to begin with, that gotcha. That got them to your website. So they were already a warm lead to begin with, right? How many of those are coming from your Google search ad?
00:48:48:12 – 00:49:12:22
Unknown
I have no idea. I mean, you, you know, usually Google will give you the analytics of who who’s lit, how many people are landing from your on your website, from those, from those? How many of you are calling from those, from those ads? So whatever that data is, you know, it’s it can be difficult to actually really identify track that down unless there is an event that could be tracked online.
00:49:12:22 – 00:49:36:08
Unknown
So if they go from your Google ad to your website to schedule an appointment through your website, that can be tracked. Yeah. But they just call that can’t really there’s really no way to really track that other than asking them right. Or you have a separate phone number from the Google ad. That way, you know, people are calling that phone number the only way, only way they get that numbers that Google to that Google ad.
00:49:36:10 – 00:49:58:16
Unknown
Right? Okay. That’s one way to do it. But one thing I see that a lot of, one mistake I see lounge producers make is that they, they are they are scared of scaling their marketing budgets up. Okay, okay. Is there a risk that you don’t see a return? Of course there is. And it’s a very real risk.
00:49:58:18 – 00:50:29:11
Unknown
All right. But there should be an inflection point with marketing dollars. You keep spending, you keep getting, you keep spending, you keep getting. And then eventually you get to a certain amount where it’s like, I’m not getting as much now. So then you just scale back the ad spin up down to where it was, still get right where you were, still getting a good return on it, and then eventually it just kind of starts turning into more of like, okay, I’m spending way too much money now for each lead.
00:50:29:11 – 00:51:08:12
Unknown
So let’s just say for simple math, you’re spending $1,000 a month on ads. And let’s just say the patient acquisition cost was $100 per patient. So that $1,000 ad gave you ten patients, right? Scale to $2,000 and it gives you 20 patients. Fantastic. This is great. $3,000, $4,000. And and you’re still at $100 patient acquisition costs. Then once you get to $5,000, you’re like, man, my patient acquisition cost is went up to 120 because now it’s it’s it’s requiring more because it’s if it’s saturating out who’s seeing this ad at that point.
00:51:08:14 – 00:51:23:20
Unknown
So it’s just like they need to scale back the number to where it was still at $100, where it made sense. Okay. But the only way you’re going to know is by continuously increasing that budget until you get to a point where it’s like, okay, now it’s becoming too expensive with scale it back to the last number. That’s the sweet spot.
00:51:23:23 – 00:51:50:09
Unknown
You won’t know until you actually start trying to do that, right. So do you think Google, in terms of increasing the marketing dollars, do you think Google is the best avenue to do that? Or are there other marketing? Ways that I can allocate those additional dollars to. I think you should. I think it’s always best to completely maximize entire outlets working first.
00:51:50:11 – 00:52:12:09
Unknown
Okay. If it’s working, then maximize it before moving on to the next thing you know, it’s kind of just like if this is making you money, why would you stop doing it? Like why I need to maximize this before I start, like figuring out something else to like this service is making me a shit ton of money. How do I maximize this before I add another service?
00:52:12:09 – 00:52:43:01
Unknown
That’s not necessary at this point, right? Same thing with marketing. I’d say maximize Google first and then move on to something else like so your TikTok and your Instagram, your social and stuff. This is all organic because your videos you’re putting on their correct reels and videos and stuff. Yeah, yeah. So maximize that because that’s working. Like if it was me, if my TikTok was giving me that many patients, I’d be hitting that shit double as hard.
00:52:43:03 – 00:53:15:08
Unknown
Yeah, like I’m trying. I’ve gone yeah, I’ve definitely increased my visibility and videos and and things of that nature as each of these videos are getting several hundred views. So you figure the algorithm is definitely working. Yeah, yeah. So, and what would you say would be an, like a healthy budget for Google ads? They’re recommended or like I would do you number increase it $1,000 a month.
00:53:15:10 – 00:53:36:08
Unknown
Okay. Next month. The 2000, then the 3000. But the 4000, until you get to a point where it’s not making sense anymore. Okay, okay. That’s just it. It’s a nice slow and steady, low risk kind of a thing, right? Me personally, when I advertise online for whatever, I always just, like, I’ll start kind of low 500 bucks or $1,000 or whatever.
00:53:36:10 – 00:53:52:04
Unknown
Now, like, okay, this is working and I just bought it 5000. I just see how would I go? I just I just say that. Right. Yeah. I just I’m like, I want to wait. I’m going to titrate this up. I’m going to blast it. Hell with it. Let’s just see what happens. Right? Because I want my results now.
00:53:52:04 – 00:54:11:12
Unknown
I don’t want to wait six months from now to figure out what that number is. I don’t $5,000, $10,000 at it and see what happens. You know what I mean? Yeah, you can waste a little bit of money, but you’re to get your results a lot faster. So it’s something to think about. And, you know, YouTube is well, you’re posting these videos to your YouTube as well.
00:54:11:14 – 00:54:37:06
Unknown
Yes, I, I started yeah, started posting more on YouTube. Okay. But any time you post a tick tock in your Instagram and your Facebook, you’re posted to YouTube at the exact same time. Okay, okay. YouTube’s the second largest search engine in the world. Google’s number one. YouTube number two. All right, so it’s foolish. Yeah. It’s foolish not to be maximizing YouTube.
00:54:37:08 – 00:55:02:13
Unknown
All right. There might be people in the in your area that go to Google and say, you know, my women’s Air, my hormones might be off or whatever. And maybe your video comes up like, oh shit, she’s seeing patients, right? He’s five minutes down the street from me, right? You will get patients from it. You will. Okay. And by hitting this as hard as you possibly can, like I said, double the amount that you’re posting, okay?
00:55:02:13 – 00:55:26:14
Unknown
Just talk about whatever that is relevant to what it is that you’re doing. Five, ten minute videos that provide some value. Right? Just do that and try to toast 3 to 5 times a week, okay? And eventually one of those videos will go viral, so to speak. I mean, it’s not going to be like a million views. I mean, it could be, but viral to you.
00:55:26:14 – 00:55:50:06
Unknown
You know, you say you get a couple hundred views or whatever. Viral two, you could be 10,000 views, right? That’s viral to you, you know, so that 10,000 views could turn into 50 patients or something. You never know. Right. And so you just got to be very, very consistent with it. So I think to meet this customer patient acquisition component of this, this pillar, growing your business, I think that I would maximize Google.
00:55:50:06 – 00:56:15:05
Unknown
Okay. I would drop 2 or $3000 a month on it and see what happens. All right. Yes, it is a roll of the dice, but you’re just you got to try it. You got to try it. And then increase what’s working already. Right. Gives me Google reviews. And you possibly can incentivize your patients if you have to have your providers ask every single patient and then maximize the organic stuff the TikTok, the YouTube, Instagram, etc. maximize that.
00:56:15:07 – 00:56:37:12
Unknown
I would just start out, keep a simple start there. Don’t do anything else. Just that stuff right there, okay? You could play around with promoting or boosting some of this stuff on TikTok or YouTube or Instagram or whatever. Okay, you could play around with actually doing some paid advertising on that platform if you want, right? And just start small with it.
00:56:37:16 – 00:57:04:00
Unknown
You know, be like, okay, this video tended to get a lot more engagement and a lot more likes and views and the other ones. So this is obviously something that’s important. So why don’t you just throw $500 behind it and promote it over a week and see what happens? Like just see what happens. It could be a total waste of money or it might not be you just you’re never going to know until you give that a try, right?
00:57:04:02 – 00:57:22:00
Unknown
So it is something you could at least try and you could be a lot more detailed with your target. You could target people specifically in your area with those ads. Okay. So that way you’re pushing that shit right in front of the face of people who are, you know, within a 15 minute radius of you, which I’m assuming in your area is probably a lot of people.
00:57:22:01 – 00:57:50:07
Unknown
Right? It is like a million people or so. Yeah. New York City. Yeah. Right. Million people at least. Right. And you promote that to those people around you. Okay. So $500 at or whatever for a week and see what happens. Now, the thing that is that you want to make sure that’s important here, okay. So that’s important is that you want to make sure that there’s some intention behind that boosted post, okay.
00:57:50:07 – 00:58:07:04
Unknown
If you advertise on TikTok and YouTube, Instagram or whatever, okay. Make sure there’s an intention with it because a lot of people don’t have an intention. They just don’t boost it. They’re like, we’ll just see who comments or whatever. Make sure there’s some intention behind it inside that you say, if you’re interested, learn more by clicking below. It’s a link to your website.
00:58:07:04 – 00:58:30:21
Unknown
The booking page or something, okay? Or create a separate landing page specific for social or social media ads that take them to hey, have a video of you. My name’s Peggy Bolo or whatever. Okay, if you’re interested scheduling a appointment, click below. We take insurance wherever, click below and schedule your appointment right now would be happy to see we can get you in within the next week.
00:58:30:23 – 00:58:49:16
Unknown
Intentional behind it. Okay, so same thing with the Google ad. Don’t just add them to your website. They come to a page that’s specifically talking to them. The real you click below can get you in within a week, blah blah blah. Whatever. We take all major insurances. What do you have to lose? Kind of a thing, right? Be intentional with it.
00:58:49:18 – 00:59:09:19
Unknown
Actually have a plan with it and you would be surprised at how well that could actually work. Yeah, I never thought about that. That’s actually a great idea because, you know, people do boost all the time and it’s like, you’re right, it has to be a link that they click and then it goes to whether it be because on our website we have blogs about more information.
00:59:09:23 – 00:59:32:17
Unknown
So but it would have to be a video of me. Would it have to be a link. So I’m sorry. Let me go back. Would it have to from that video it’s a link to the website or it’s a link, another link of me saying to go to our website. What are you? What are your thoughts. So okay, so either so the boosted video you have, you can either be in that video at the end okay.
00:59:32:17 – 00:59:47:20
Unknown
Click below if you’re interested in getting appointment with us okay. Or in the ad itself, you say click below. And then they go to your website, a landing page that you create on your land on on your website, and then has another video of you talking about how it works, being a patient with, you know, at your practice or whatever.
00:59:47:20 – 01:00:09:15
Unknown
Click below, you know, schedule appointment, just scroll down, schedule it right now through our through a website. That’s it. That’s the funnel. It’s literally it. Okay. But there has to be some kind of call to action, some kind of intention for people. Right? You don’t want to just boost something out there, a piece of content, not have at least go to your website or something.
01:00:09:15 – 01:00:29:05
Unknown
You know what I mean? Like, you want to try to get people interested in what it is that you’re doing and you want to you want them to come a patient and with you accepting insurance, there is no damn reason why you can’t. You do a thousand visits a month in the next six months. Yeah, yeah. That we mitigate do it.
01:00:29:07 – 01:00:48:05
Unknown
We accept Medicaid as well. There is no reason why you can’t be a thousand patients in six months from now. If you do that, you’ll be at $1 million more of $1 million. Yeah. Right. Okay. So how do you value maximize it? You got you got to get that patient acquisition thing dialed in. You got to get as many people through that door.
01:00:48:05 – 01:01:08:06
Unknown
You can stop relying on word of mouth, stop relying on people just finding you on TikTok and Google. Send it out there and just see what happens. Take $10,000. Just take $10,000 out of the account. Be like, this is what I’m going to spend on marketing over the next 2 or 3 months as an experiment, and let’s just see what happens.
01:01:08:08 – 01:01:29:10
Unknown
Like how many new patients do we get the first month? The second month? The third month? Am I seeing the trend here, or is it nothing happening and nothing’s happening? Then? Well, you have your answer, I didn’t work. Figure it out. Figure something else out. Right. Got it. Okay. No, that’s a great plan. Like I said, we’re upgrading our, phone infrastructure right now because my staff can’t handle the phones.
01:01:29:10 – 01:02:02:23
Unknown
It is just ringing off the hook. And we have an option for our patients to schedule online. And it’s very user friendly, but patients, they just like to call. And so I’m working I know. So I got to get that infrastructure set because I know I’m missing, patients. I know I am because people are not going to keep calling if they don’t get an answer so that as of next week should be kind of done and I should be able to have like, my AI receptionist, up and running, that can at least at the, you know, schedule appointments.
01:02:02:23 – 01:02:29:22
Unknown
And it’s also, integrated into my EHR, air. So there you go. You are very smart. Yes. Make sure that infrastructure is in place first before you start blacking out. So yes I know. Yeah. Yeah yeah. That’s the biggest waste of money ever. I’ve seen people do that. It’s like, wait a second, you do not have the infrastructure in place to take on that many calls to take on that much business where you’re wasting your money, get that shit figured out first, then.
01:02:30:00 – 01:02:53:09
Unknown
Yeah. So. So yeah, it sounds like you’re almost there. So just pull the trigger and see what happens, okay? I mean, you say that. Yeah, we’re going to do it. I’m I’m excited. I really, really am. Like, it’s one of those like when, when when this starts working and you’re like wow. You know it feels good. It absolutely feels great to to really own something that is working and is doing well.
01:02:53:09 – 01:03:17:11
Unknown
And it’s been over five years. So course it is. Yeah. It’s it’s nice. It’s a nice feeling. I still have imposter syndrome. I still am, you know, things keep me up at night, don’t get me wrong, but I think this is par for the course. Like it wouldn’t be. You wouldn’t be an entrepreneur if you, If things didn’t keep you up at night or if you weren’t worried about something 100%.
01:03:17:13 – 01:03:34:18
Unknown
Absolutely. Yeah. Yeah, yeah. I mean, you should pat yourself on the back. What you’ve done is something that not a lot of people do. So you you done well. Yeah. That, like in the episode, you ask me a question. I know you probably asked me a question 2 or 3 years ago or whatever it was, but you have a new question or curiosity for me.
01:03:34:20 – 01:03:54:08
Unknown
Oh. Wow. I think you answered it because I did have the question. I was like, what’s next for you? Like, like I’ve followed you for years and you’ve done amazing. And thank you for creating this platform for us. But what’s next for you? Like, what’s the, you know, the thing that you’re like, okay, I’m going to be doing.
01:03:54:10 – 01:04:13:12
Unknown
Yeah. So let me preface that first with saying, because I was I was going to mention this, we were talking about that and I forgot, when you, when you make a lot of money. Okay. You have some windfall income. And by windfall income, I mean you sell a business or something like you, you get a very large influx of cash, basically.
01:04:13:12 – 01:04:28:18
Unknown
Right? Or you build a lot of revenue. You build a lot of money over 3 or 5 years in your practice. Something like, I know an MP, for example, who has almost $5 million in their brokerage account and and he sold her business. Yet that’s just from the money they made to their business over the last five years.
01:04:28:18 – 01:04:57:11
Unknown
Like just killing it. Right? So when you get to a point where you hit this certain number and for everyone, it’s a little bit different. Give me 3 million, 5 million, 10 million, whatever. Okay. When you hit a certain number, I hit that number. I hit that number about damn, those three years ago. At this point, I hit this number and I was like, okay, so when you hit that number, it gives you optionality that you do not have until you hit that number and that number.
01:04:57:11 – 01:05:21:07
Unknown
It’s it’s it’s this nested right. It’s this it’s this large amount of money that you have that now covers you for almost your entire life if you wanted it to. And so it reduces the fear, the risk, the anxiety of having, of trying out different options and taking on various risks. Right. And so, so I so I hit that about three years ago.
01:05:21:07 – 01:05:46:07
Unknown
And so that’s what you want to strive for is getting to that point where you have the, the choice of optionality, right. You’re not tied to your business. Your business could fail and still be fine. Right? You’re not there yet. You will get there at some point. You know, next 3 to 5 years, hopefully you’ll get there. And so for me, I hit that and then, you know, over the last few years I’ve been I’ve been piddling around trying some different things.
01:05:46:07 – 01:06:09:18
Unknown
And so, so right now what’s been working for me is that I got pro I brokers, which is what I sell practices through websites a little crude, but, you know, it works. And so, so yeah, so I sell I sell people’s practices for them now. So I broker businesses. I have a partner who, is who’s in the M&A space, who’s very talented at what they do.
01:06:09:20 – 01:06:25:06
Unknown
And so, yeah. So so I’m doing that now because I enjoy doing it. It’s fun. And I only charge 5%. I don’t charge most brokers charge ten. I only charge five because I don’t need the money. Right. So I charge 5%. It covers my expenses, helps my partner out, gives me a little spending money kind of a thing.
01:06:25:06 – 01:06:44:20
Unknown
So. So I do that and it’s been fantastic. It’s a great experience. I learned a lot. Doing it is completely unrelated to health care. It’s business. It’s mergers and acquisitions. It’s fun. So I do that and I got, pro course start where I teach you how to start seed businesses, that kind of thing. And then, and.
01:06:44:20 – 01:07:14:23
Unknown
Yeah, that’s kind of it. I’m just dabbling around. I’m building out some apps. I’m trying to figure out how I can max utilize AI to do something with it. Health care. Because that’s what I know. And so, you know, I know health care. I know continuing education. That’s really what I know. And, and so, yes, I’m just fiddling around with my buddy, building out some apps and figuring out kind of how we can create something that’s, that’s that’s more of an app.
01:07:14:23 – 01:07:35:16
Unknown
I want something that’s just, like, almost entirely passive, subscription based, ten bucks a month, that kind of thing. And what we’re going to develop, I think, is going to be, something that’s going to really help a lot of providers stay regulatory compliance compliant kind of a thing. So, so yeah. Yeah. That’s that’s it. Yeah. And I think AI is where it is.
01:07:35:16 – 01:08:00:05
Unknown
And I think if people especially us, if we’re not adopting it, we’re going to be left behind. So as much as I could incorporate it and I’ve incorporated a lot of AI into the practice, which has changed my life. Yeah, yeah. I think you’re a fool not to. Yeah, absolutely. Yeah. So yeah. Yeah yeah, yeah. So. Okay, great.
01:08:00:05 – 01:08:27:20
Unknown
Thank you so much for having me on again. And, and glad I’m able to update you. Thank you again for creating this platform and helping, you know, entrepreneurs like me. Because I, I listen to your podcast religiously and I, and I always get nuggets and I’m like, okay, this is what I need to do. But I will say, I think you need to bring back the, at one point you had where you’re interviewing, entrepreneurs who are free to a certain level, and they were scaling.
01:08:27:20 – 01:08:52:12
Unknown
I think you need to bring that back as well. Yeah. The problem is, though, is that a lot of people don’t want to talk about. Yeah. And like, you know, I mean, I know some people, they’re like, I don’t want to be on the podcast and like okay, well like so it’s it’s more or less kind of just people need to email me if you are out there just in a, you know, just an elite impact comm, just email me if you want to get on this and let’s talk about your success.
01:08:52:12 – 01:09:13:13
Unknown
Absolutely. Yeah. Yeah. Because you’ve been building this for the last, you know, years, five years at least, at the very least. And now you have people like myself that are five years in that are looking for the next level. And, you know, like I said, there’s a need for the 1 to 1 open the practice, but there’s also a need for the ones that want to scale it to that next level.
01:09:13:15 – 01:09:33:13
Unknown
Yep, yep. And and because of that too actually forgot we’re actually in here actually releasing a mastermind, in September. I believe September 1st is our goal to release it. And it’s actually going to be a three month program to be called, how the hell do we call it? I forgot we’ve called it this morning, but it’s the only mastermind we got.
01:09:33:15 – 01:09:52:22
Unknown
And it’s about that. It’s about scaling your practice. It’s for those people whose businesses have been open for, you know, three years ish or whatever, who just need that, need that those the steps in the guidance to get it up to that next level. And so we have that coming out now because. Exactly right. There’s a lot of people like yourself who’ve, you know, took our courses 5 or 6 years ago.
01:09:52:22 – 01:10:10:08
Unknown
And now they’re in this position where they’re like, well, what do I do next? Right. So, so that’s kind of why we create this mastermind. And I and I don’t think a course would do it justice. I feel like that it requires a lot more of me talking with people. And it’s you know what I mean? So there’s like, Q&A calls and like, I’m the one running it.
01:10:10:08 – 01:10:26:20
Unknown
There’s no one else running. It’s just me in there. And so, yeah. Great question about releasing that here next couple months. I hope that’ll help people out too. Absolutely. That’s exciting. Well, thank you so much for the time. I really appreciate it. Okay. And just hold on just one second. You have to, stop recording in that way.
01:10:26:20 – 01:10:46:09
Unknown
This entire thing uploads. Okay. All right, no problem. Okay. Take care. Okay. Thank you for listening to the show. The legal disclaimer the content of this podcast is meant for informational and entertainment purposes only and should not be used as legal, financial, medical, regulatory, or practice specific advice for information pertaining to your specific legal, financial, medical, or practice specific needs.
01:10:46:09 – 01:11:03:23
Unknown
Please be sure to consult with your lawyer, CPA, medical director, and or your States practice laws and the most up to date clinical guidelines. As always, do your due diligence when it comes to any information found online in podcast. The content this podcast is copyrighted by Galaxie Medical Southwest 2023 and cannot be duplicated. Rebroadcast it or reproduce without our written permission.
