EP 43: 5 Building Blocks to a Successful Practice

Cash flow is the lifeblood of any successful private practice, yet it’s one of the most overlooked aspects of business management. In this episode, Jay breaks down the causes of cash flow issues, from rising costs to inefficient payroll and long-standing bad habits. Learn why quick fixes don’t work and how proactive strategies can help you avoid financial pitfalls. Jay discusses practical steps to analyze your expenses, streamline your operations, and ensure your team is contributing to the growth and profitability of your practice. Jay also explores the psychology behind financial success, emphasizing the importance of shifting behaviors and adopting a forward-thinking approach. From optimizing patient care and creating capacity to building a culture of accountability, this episode provides a comprehensive playbook for transforming your practice. Whether you’re struggling with cash flow now or preparing for growth in 2025, this conversation will equip you with the tools to take control of your financial future.   Visit jaygeier.com to learn more.

Are you a practice owner thinking about the future of your business? You’re invited to a 12-Hour Intensive with the #1 industry expert, Jay Geier, who has facilitated hundreds of practice sales, happening December 6-7 in Atlanta, GA. There are only 10 seats available for podcast subscribers!  Visit jaygeierevents.com/podcast to request your invitation now!   In this episode, Jay emphasizes the importance of having a 360-degree view when making critical decisions, especially regarding selling a practice. He explains that most people only see a small portion of the entire picture and fail to consider all angles, leading to uninformed decisions. Jay draws comparisons between selling a practice and other major purchases, like buying a home or car, where people often overlook important factors due to their limited view. He discusses the concept of bias and how it influences decision-making, particularly when it comes to buying and selling. Jay also highlights the importance of understanding the psychology of both buyers and sellers. He stresses that obtaining a full 360-degree view allows for more informed, strategic decisions, which can prevent costly mistakes. Jay concludes with an invitation to a limited event focused on gaining a comprehensive perspective on selling a practice, aimed at helping attendees make better decisions.  

In this episode, Jay Geier dives into the challenges that prevent some doctors from growing their practices. He identifies five key barriers that hold practitioners back: the pursuit of perfection, staying within their comfort zones, confusion or resistance regarding the role of money, neglecting to track key metrics, and the illusion that high-quality work alone is enough to succeed. Jay explains how each of these tendencies creates obstacles to growth and emphasizes the importance of shifting mindsets and actions to achieve success. By understanding these common pitfalls and overcoming them, doctors can unlock their practice’s full potential. Jay encourages listeners to reflect on these barriers, challenge their assumptions, and seek help if they find themselves stuck.

In our latest episode, we dive into three distinct paths: the self-directed life, the therapy-based life, and the coached life. While self-reliance is important, the right guidance can enhance effectiveness and lead to exponential growth. Listeners are encouraged to reflect on their own paths and consider how coaching could play a pivotal role in their journey.   "The Coached Life" is not just about professional development but also about personal transformation. It’s about opening your mind to new possibilities, gaining clarity, and creating a roadmap to achieve your dreams. Whether you’re seeking to improve your practice, enhance your leadership skills, or achieve personal breakthroughs, this podcast provides the insights and inspiration to get you there.   Tune in now and start your journey towards success! 

In this episode, Jay reflects on the recent Practice Growth Summit in Nashville, highlighting its success and the impact of renowned speakers like Mel Robbins and Jesse Itzler. The discussion focuses on the correlation between personal and professional growth, emphasizing the importance of overcoming self-judgment and seeking help to break through personal and professional ceilings. Jay shares insights from a panel discussion with successful clients who recounted their journeys of initial resistance, eventual commitment to growth, and subsequent transformation in both their personal lives and practices. The episode underscores the necessity of recognizing and addressing personal limitations to achieve professional success.

In this episode, Jay gives us his top 5 super important things that every doctor should experience. He also touches on the significance of continuous learning and personal development, the balance between ego and humility, and the importance of creating positive habits .

What do the most successful businesses and brands all have in common? Exceptional culture.    In this episode, Jay Geier sits down with David Salyers—one of the original two marketing executives at Chick-fil-a. Salyers shares leadership and culture insights he’s gleaned from his 37 years at Chick-fil-a, and we break down how these lessons can be applied to build a high-performing team in your own private practice.    David Salyers will be a keynote speaker at the upcoming Practice Growth Summit in Nashville, June 13-15. Tune in to get a taste of the exceptional content you can expect at the Practice Growth Summit. Make sure to visit www.PracticeGrowthEvents.com or call 770-518-7575 to purchase tickets and learn more.

Does the thought of hiring more team members make you sweat? If you feel like scaling your private practice means more work and more stress, we’re here to bust that myth. In this episode, Jay Geier and Dr. Paul Keelan reveal the secret about scaling successfully—which, spoiler alert, shouldn’t be scary when you make the right investments for yourself and your team. In fact, continually investing in your team will make your life easier, your practice more profitable, and your life richer with purpose. Listen to this episode to hear Dr. Keelan’s story of how he has literally grown his practice by 10x since joining the Scheduling Institute in 2013 and being an active investor in his team.

We're bringing back a fan favorite! In this episode, Flint Geier sits down with two Practice Growth Consultants, who have trained more than 3,400 team members and been inside more than 300 private practices. They’re here to give you a one-of-a-kind, unfiltered perspective on what it takes to train a team of high-achievers, the key difference between Continuing Education and Specialized Training, and the driving factor that determines whether or not you receive an ROI on your training investments.     Watch the Full Episode & Clips: https://www.youtube.com/@SchedulinginstituteGoing5X Subscribe to the Podcast Here: https://podcastfordoctors.com/

How do you effectively transition into the New Year and unlock the success you’ve always dreamed of? In this podcast, Jay shares his top tips on how to end the year strong while setting yourself up for success in the New Year. If you’re ready for MORE in ‘24—more profitable growth, more time and energy for loved ones, more capacity to be generous—it’s time to tune in and discover how you can make intentional and impactful changes for the year ahead.