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How To Double Your Practitioner Income in Six Months

How To Double Your Practitioner Income in Six Months. WARNING! Why are we here? What is your biggest frustration in your practice currently? A problem cannot be solved at the same level of thinking that it was created at – Einstein A breakthrough requires a “break-with”

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How To Double Your Practitioner Income in Six Months

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  1. How To Double Your PractitionerIncome in Six Months

  2. WARNING! • Why are we here? What is your biggest frustration in your practice currently? • A problem cannot be solved at the same level of thinking that it was created at – Einstein • A breakthrough requires a “break-with” • Current mindset + current habits = current results

  3. What we are not here to do: • 1. Operate outside of our values • 2. Provide anything other than exceptional care for our clients • 3. Try to force you to change anything

  4. What we are going to do: • Hear some success stories of other practitioners • Examine the 3 critical elements of a successful practice owner’s mindset • Challenge some traditional thinking • Workshop the 4 step formula for doubling your income in six months or less • Get to know each other a little better • Leave here tonight fully informed about our next step!

  5. Who is this Adam Gibson bloke and why should I listen to him? • Business coach – helping business owners achieve their potential by removing the barriers to success • Health and fitness background for 17 years – started early

  6. 7000 one on one consults with clients on diet, supplementation, lifestyle and exercise • 17 years in gyms, event promotion, fitness marketing and distribution • “Ideas man” for Diabetes Queensland, FIA award • Exploring human potential • South Golden Beach resident, full time business coach

  7. “Adam’s focus as a coach is working with individuals and organisations who know that they have untapped potentialin an area of life, and are willing to work on smashing the barriers that have prevented them achieving this potential in the past. In particular, business owners who have a strong sense of mission and contribution in their work will benefit greatly from Adam’s forthright and dynamic coaching style.” • Speciality: Practitioners and People of Passion! • Marketing, money and mindset • My philosophy – lifestyle, living fully!

  8. My coaching fees: $660 per session or $1650 per day including gst • Am I worth it? • Meet some of my clients… • (my worst kept secret – I only coach clients who make me look good!)

  9. Michael Ridgway, Physiotherapist • 4 years ago was ready to give up physiotherapy • Lack of respect from clients, low income, high stress, endlessly frustrated! • Decided to get good at being a business owner, and look outside of the box that physios tended to operate within… • Began as a client in May 2006 • Within 2 months income was up 25% • By the end of the year income was up 40% Michael RidgwayBaroona Road Physiotherapy

  10. Personal Income Up 300% Charge rate$400 Contact hours38 Contact hoursDown 60% Personal Income 2003 2004 2005 2006 2007 2008 Income & Client visits Vs Years

  11. We’ll get you pain free in ½ the time or it’s free

  12. We’ll get you pain free in ½ the time or it’s free Business success allows Michael to: • Pay 50% higher salaries • Manips Scholarship each year • Develop research projects • Charity work and sponsoring clients • Time to work on the business • Mortgage, car, holidays, retirement fund • Most importantly: Development of problem solving methods that increase the value of physiotherapy care • Result is his fees of $250 per half hour consult • What is the result of this fee structure?

  13. Kate O’Loughlin Traditonal Chinese Medicine PractitionerJade Tortoise Clinic of Natural Medicine Started as a client 11th June 08 Loved her career but had “no hope of ever becoming wealthy” Tripled her weekly income within 3 weeks and has maintained it at double every week since Zero extra marketing costs incurred Massive personal breakthroughs on money mindset About to launch inspiring new women’s health program Now on her first ever overseas holiday in Bali as we speak!

  14. Adam Lees – The Surfer’s PhysioSeven Mile Beach Physiotherapy Start up business with 4 -5 clients per week in June 08, plus working full time Has discovered his niche and his passion as a practitioner! Now divides his time 50/50 to his practice and his job, and about to sack his boss! Aims to be nationally recognised as an expert in surfing related injuries and injury prevention Massive personal breakthroughs around money- Adam has reconciled his beliefs on professional ethics with the right to be successful

  15. Carlos DobsonRPS Personal Training

  16. Carlos DobsonRPS Personal Training

  17. Nigel PitmanOcean Shores Physiotherapy Worked for himself for over 14 years Had a very successful practice but working too hard and no time to fish or spend time with “the little people” (his kids!) Started as a client in June 08 Now employing staff, has 3 – 4 afternoons off every week AND has increased turnover by 20% Has not spent ANY money on marketing… yet! Has realised the true extent of what his practice can achieve – watch this space!!

  18. 1. Adopt an entrepreneur’s mentality 3 critical elements of a successful practice owner’s mindset

  19. How do I make the claim of doubling income in 6 months with confidence? • What is the main thing holding any business owner back? • What is the most important asset any business owner has? • Biggest mistake most practitioners make in business: • Not prioritizing time for personal and business development! • Work on the business, not just in the business • E-Myth #1. Adopt an entrepreneur’s mentality

  20. Entrepreneur Mentality • Spends 30% of time developing business • Delegates 80% of administrative tasks • Has a 5 year vision for his/her clinic • Focuses on high payoff activities • Rarely becomes distracted by small things • Works thoughtfully and diligently and with a sense of calm • Keep a focus on the business • Rarely covers for others when ill • Acts as a leader of the staff • Takes a week holiday every 3 months Practitioner Mentality • Spend 90% of time performing physiotherapy • Handles many administrative tasks him/herself • Has no clear future direction for the business • Majors in minor things • Days are filled with unplanned interruptions • Lives under the tyranny of the urgent • Prefers to ignore business issues • Always covers for other staff • Has collegial relationship with staff • Rarely takes holidays #1. Adopt an entrepreneur’s mentality

  21. Dangers in adopting practitioner mindset: • Burnt out • Frustrated • Broke • Bored All result in a lowered quality of care for the people we first set out to help! PROBLEM!! How do you find more time to do all this if you currently have a full caseload? #1. Adopt an entrepreneur’s mentality

  22. 1. Adopt an entrepreneur’s mentality 2. Categorise your ABC class clients 3 critical elements of a successful practice owner’s mindset

  23. C class – • B class – • A class - #2. Categorise your ABC class clients

  24. 1. Adopt an entrepreneur’s mentality 2. Categorise your ABC class clients 3. Reprogram your beliefs about money and your right to be successful 3 critical elements of a successful practice owner’s mindset

  25. Money is an accurate reflection of our beliefs • If you were programmed to be rich, what would you be? • Lottery winners • Best place to be with money is not to need it • Your level of income and wealth is governed by your beliefs and your comfort zone • We will look for evidence to support our currently held beliefs • Beliefs vs Truth • Low level skill compared to relationships • The Noble Practitioner “suffering for their art” #3. Reprogram your beliefs about money and your right to be successful

  26. To identify your beliefs, habits and “programming” about money, look at your recurrent patterns of behaviour and experiences The 1st step in letting go of old beliefs is simply to identify and thus illuminate them (beliefs vs truth) 2nd Step: Decide whether you want to hang on to them or let them go… 3rd Step: Replace them with new ones Anyone up for a money breakthrough tonight? #3. Reprogram your beliefs about money and your right to be successful

  27. Money beliefs exercise • Sitting face to face, eye to eye, deep breaths, relax Q. What is your main self limiting belief about money_________________? A. My main self limiting belief about money is_____ Q. Do you choose to hang on to this? A. Yes/no – “I choose to let this belief go” Q. What would you like to replace it with? A. I am replacing this old belief with ___________ Q. Whats the best way for you to reinforce this belief over time?

  28. #1. Increase Number of Incoming Enquiries The 80/20 rule of marketing Picking a niche Effective Display Ads Secrets for Getting Referrals 2 Zero Cost Marketing Strategies 4 Step Formula To Doubling Your Income in 6 Months or Less

  29. Our problem is not how to get more clients – its how to get more A class clients! • Market to 80/20 of non-users (93%) • 40% - 60 % of population are suffering some sort of pain or chronic condition • If all practitioners in Australia were fully booked, they could only accommodate 10% of these • 20% who know what a standard appointment usually costs, so… • …don’t sell an appointment, sell a packaged cure/result to the 80% of non-users • To do this effectively, you need to offer something special, something different, something unique… #1. Increase Number of Incoming EnquiriesThe 80/20 rule of marketing

  30. …offer a solution to a niche market • Why not to buy British • People expect to pay more for a niche service • Create yourself as the expert – publish yourself, be interviewed, give a presentation • Identify what is unique about your service and market this to your niche • USP – Unique Selling Proposition #1. Increase Number of Incoming EnquiriesThe 80/20 rule of marketingPicking a niche

  31. #1. Increase Number of Incoming EnquiriesThe 80/20 rule of marketingPicking a nicheEffective Display Ads

  32. ATTENTION BACK PAIN SUFFERERS You could be PAIN FREE within one month! Unique 4 week program delivers amazing results for local people: “I am gardening again after only 3 weeks of my program - incredible!” Mrs Kath Day-Knight 54, Ocean Shores “I never thought I would be pain free again - this has changed my life for good!”Ray Charles, 63, Clunes NSW “Your four week program has let me play football with my kids again - thankyou!”David Beckham, 36, Byron Bay If you are sick of living with back pain, CALL NOW on 4409 6797 to book your FREE postural assessment to see if you qualify for our next 4 week program! John Smith Physiotherapist 897 Smiths Road Smithtown Ph 4409 6797

  33. Components of an effective display ad: • Headline, attention grabber • Ask them to use their imagination • Create Rarity (USP) • Benefits • Evidence (testimonials) • Call to action, Irresistible Offer #1. Increase Number of Incoming EnquiriesThe 80/20 rule of marketingPicking a nicheEffective Display Ads

  34. Q: Why don’t practitioners get as many referrals as they could? A: They don’t ask for them! • Ask clients for referrals - do you have a friend or family member who could benefit from our free newsletter/ free postural assessment/info night on back pain? • Email newsletter – educate your patients! #1. Increase Number of Incoming EnquiriesThe 80/20 rule of marketingPicking a nicheEffective Display AdsSecrets for Getting Referrals

  35. Zero Cost Marketing Strategy #1: Present seminars and presentations to your target niche and referral sources • Michael charges personal trainers to participate in his workshops • Dual purpose of establishing expert status AND building a client base • Personal training in-services #1. Increase Number of Incoming EnquiriesThe 80/20 rule of marketingPicking a nicheEffective Display AdsSecrets for Getting Referrals2 Zero Cost Marketing Strategies

  36. Zero Cost Marketing Strategy #2: Create PR, write media releases and contribute articles www.ozmedia.com www.ezinearticles.com • Frozen Shoulder - How To Slash Your Health Costs By Half And Recover Quicker • How To Cure Your Frozen Shoulder With These Easy Steps • How To Choose The Best Physical Therapist To Treat Your Shoulder • Sciatica Exercises That Work • A Torn Rotator Cuff Doesn't NEED To Mean Surgery #1. Increase Number of Incoming EnquiriesThe 80/20 rule of marketingPicking a nicheEffective Display AdsSecrets for Getting Referrals2 Zero Cost Marketing Strategies

  37. BONUS Marketing Secret: Because most practitioners NEVER explore a niche or apply these techniques, there is virtually NO competition! Your competition is lack of knowledge of practitioner services in the general public, NOT other practitioners! #1. Increase Number of Incoming Enquiries

  38. #1 Increase Number of Incoming Enquiries#2 Increase Attendance Rate - 2 Basics of a 96% Attendance Record 4 Step Formula To Doubling Your Income in 6 Months or Less

  39. 2 Basics of a 96% Attendance Record (a) Eliminating non attendances • Cancellation fees and policy • Fees go up; non-attendance rate goes down (b) Conversion rate to appointments • Incoming phone script #2 Increase Attendance Rate

  40. Phone Script - Incoming Enquiries Thank you for calling XYZ Physiotherapy this is _______ how can I help you? Hi, I wanted to know………………………………? Sure I can help you with that, what was your name please? Great __________, thanks for enquiring. We have a few different treatment options depending on your condition – do you mind if I ask you a couple of quick questions? I’ll just grab your full name and details for our records: Full name _____________________________________ Phone _____________________________________ Email _____________________________________ How did you here about us? Doctor referral source local paper friend internet walk past other (specify)_______________________________ Have you been to our practice before? If so, when and for what? _________________________________ What is the nature of the problem? ____________________________________________________________ ____________________________________________________________ How long has this condition persisted for? _________________ For conditions like yours, this is what we do differently……………….. Of course every case is treated individually, but the majority of other clients with similar conditions find that they are pain free within ………… days/weeks etc. Does that sound like the sort of thing that will suit you?........................ Well ___________________, the best thing for you to do is to come into the practice first and allow our Physio ………….. to give you an initial assessment. This doesn’t cost you anything, and from this point we will let you know whether or not he/she can help you and in what time frame we can have you better. Are mornings, afternoons or evenings best for you? Great, I’ve got timeslots free at _________ pm today, or _______ am tomorrow – which of those will suit you best? (don’t make it too easy for them to secure a slot) Do you know how to find us? Great ___________, my name is _________ again, I’ll be here at the front desk to greet you and introduce you to our Physio. I look forward to seeing you at (repeat appointment time and date) Staff member: Date: Appointment time, date:

  41. #1 Increase Number of Incoming Enquiries#2 Increase Attendance Rate #3 Increase Average Fee 4 Step Formula To Doubling Your Income in 6 Months or Less

  42. Lets do the maths… Currently • $65 per session x 2880 patients p.a. (12 per day) = $187,200 gross annual turnover • Less fixed costs of $60,000 pa = Annual profit of $127,200 Then you double your fees • $130 x 2880 = $374,400 pa • Your fixed costs stay the same, so • Less $60,000 = Profit of $314,400 • Increase in profits of 247%! #3 Increase Your Average Fee

  43. #3 Increase Your Average Fee But let’s say you lose 25% of visits due to the price increase… • $130 x 2160 (9 per day) = $280,800 • Less $60,000 fixed cost = $220,800 profit • Still delivers over 173% increase in profits • PLUS clients get better service from you due to decreased workload! • NB if you lose 50% of visits due to increase, you end up with same profit but work HALF the hours

  44. #3 Increase Your Average Fee 5 Strategies For Increasing Your Professional Fees • Avoid simply selling a session. Sell a package or a program, an experience or a RESULT • Always think of ways you can upgrade your patients to a membership eg. Back care classes, pilates groups, small group support groups • Limit access to you. Make them sell you on why you should take them on as a client. Stand your professional ground - “I only work with A class, committed clients” • Bundle services and programs. Eg. You need to have completed your initial back care program before you can be eligible for our advanced pilates membership. • Re-think WHO you are selling to. Is there someone in a better income bracket that you can repackage your services and sell to?

  45. #3 Increase Your Average Fee • To put prices up by 25%, simply provide 50% more value per session then notice your feelings on it eg handouts, free ice packs or devices, comfort of experience. How can you add value to the session? • Patient compliance improves with value they place on the service

  46. #1 Increase Number of Incoming Enquiries#2 Increase Attendance Rate #3 Increase Average Fee #4 Increase Number of Repeat Visits Per Patient - 2 Strategies to Easily Implement 4 Step Formula To Doubling Your Income in 6 Months or Less

  47. 2 Strategies to Easily Implement Strategy One: Increase number of episodes per client • Lifetime value of your patient • What else can you help the patient with? Let them know what else you can do for them • Supply information in last appointment ie. did you know we can also treat xyz etc? • Educate your clients so that they know what you can do for them and others! • Email database to keep in touch and front of mind, plus offers and general articles #4 Increase Number of Repeat Visits Per Patient

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