Chiropraktik-Praxis: Raus aus der Umsatz-Stagnation

0:00Unternehmer/Gast I am a chiropractor. We do right around 2.4. Been stuck there for 5 years. I'd like to get to 3.6 to get out of the swamp. >> or growing over 5 years? >> We've been at 2.4 for 5 years. Yep. And so, I don't know what's stopping us. I'd like to get out of the swamp. >> Heard. And then profit margins you're at 30%, right? >> Yes, sir. >> Yeah, okay. And we're seeing 600,000 as a profit number. I don't know if that's still accurate. Okay.

0:28Alex Okay, so you have 600,000 in profit and you have Do you have You and a partner or you're 100%? >> 100%. >> Okay. Well, what What do you want to You just want to Like what do you want to have happen? Do you want to Like what do you want to do? Do you want to go to many locations? >> No, I want to I I want to grow a um um main big location and um you know, create a space for family to eventually, I mean grow in there if they're If they don't want to do that, then I would probably change my goal to be an exit

0:58>> Okay. What's your square footage? >> square footage? >> Uh right now we have 7,700. >> Okay, so decently large. >> Yeah, we occupy about 4,700 of it. >> Okay, got it. And so, are you at capacity within the space right now? >> No, we used to have a supply issue till about 2 weeks ago. >> Okay. >> And then we hired another doctor. So, now it's become a demand issue. >> Mhm. >> where we're at now.

1:22>> So, how do you get customers now? >> Uh we Our highest is referral. Then we get about The next has to be paid ads through Facebook. >> What percentage are ads? >> Uh we do probably about 20% from ads. About half is from referrals. Another 20% is from Google.

1:47Alex >> Okay, so you separate met ads from Google ads when you talk about ads? >> Yep. >> Okay, got it. Um >> We don't actually currently do Google ads, but that's where they said they came from. Heard. >> [laughter] >> Got it. Which I would probably see that as word of mouth. Like I Googled you or Googled somebody here. It's probably SEO or something like that. But um okay. So 2 and 1/2 million, like what stops you from just spending more money on meta ads?

2:13>> Uh trust that we're doing it right. I mean I just want to feel like we're >> money than you put in? >> Yeah. >> [laughter] >> Well, so you might have one of these guys. Which is that we need we need attribution tracking. So that you can know if you're putting a dollar in and getting $5 or $10 or $20 back out. We have no clue. But as soon as you have the attribution tracking, cuz fundamentally what what you lack right now is an input-output equation for the business to grow. And so every business needs to know what are the what are the core actions that I do that increase how much money I make. And if you can't define that for the business, then for sure as [ __ ] your employees don't know what it is. If you don't know what it is, right? And so for you if you are not supply constrained and you're demand constrained, that means lead generation is the issue. If lead generation is the issue, what's the activity there? The activity is going to either be I'm going to be making content, I'm going to be getting affiliates that are going to be promoting my [ __ ] for me. Uh I'm going to be uh running paid ads. Right? Those are going to be kind of like the the bigger buckets that you're going to be going into and then you got people to do those things on your behalf. And so right now, do you make content?

3:09>> Yes, sir. >> Okay. And what percentage comes from that? >> Uh we just started it uh about 2 months ago. >> How much do you do? >> Uh we >> going to tell you to do more. I'm just curious. >> We do four videos that gets created into short and long per week. Uh four videos for the month. And >> Got it. Don't Yeah. >> Chopped up. >> Okay. Got it. Okay. So you've got four longs and then you chop this into little shorts and things like that. Okay. Got it. Um All right. So short-term long-term. Short-term we've got to get the data tracking in place.

3:43Second step is going to be putting the ad the ads funnel in place and kind of like what the sales motion is um behind that. For local, the good news is just uh it's easy to do. Because there's already so much trust locally that you don't need to have nearly the complexity of kind of like the funnels and indoctrination and education prior to someone making a purchasing decision. You can pretty much just like one call close, two two conversation close anybody. Um, even at very high ticket numbers, which is one of the benefits of local.

4:11Alex The downside of local is that you've got a market that's this big. >> Correct. >> That's the downside, right? So, if you don't want to expand markets, then you need to dominate the market you're in. And so, it's going to be a multi-pronged approach and it's kind of like I was saying earlier, like we're going to start with ads cuz that'll just get you more in cuz I'm guessing right now, if you have a good reputation and good brand, then the ads will actually help you more than they would help somebody who doesn't have that footprint. But then we're going to start probably layering in the the content as the second um, kind of the well that needs to continue to get dug. Again, this is going to be long-term and so, you're going to want to be a thought leader and then what happens is that if you can if you can succeed at building the brand long-term, and it sounds like you're more long-term guy, so I will I'll speak in these terms. Um, what happens is your radius actually continues to expand. And so, if you take into the natural extreme, you can go to the Amen Clinic in New York or whatever I think it's New York, um, because they have a national reputation. But people will fly there.

5:01And so, that's how that's what it looks like as you continue to expand the brand because people will just be more willing to travel to you and pay premium prices. Which I'm sure if we looked under the hood, the prices probably get tweaked too. But like, those those are some things and if you're in the swamp, cash flow is actually the biggest thing that you need. >> Right. >> Um, and so, again, the pricing and packaging is probably like again, if I was to do order of operations, pricing and packaging would probably be number one so we could free up cash flow. The freed up cash flow we'd then funnel into the ads so that we could get date well, date attribution, then we'd put the ads in place, uh, start start flowing uh, putting flow through there. And then the baseline that happens after that is we're just going to increase the cadence on the on the content that demonstrates thought leadership. That's the path.

5:41>> That makes sense. Thank you. Uh, how do you we're we're having trouble also hiring uh, good high quality doctors >> Mhm. >> in Wyoming. >> It's actually ladders up to the first problem, cash flow. >> Okay. >> We need to fix the pricing so that we can generate more cash flow, so that we can pay doctors, so that we can actually get the business to not rely on you as much. >> Um

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