#147: Losing $50,000 Every Month to $23,000 Profit in 60 Days / Increase Profits / Next Level Pros Podcast
Welcome to a new episode of Next Level Pros! In this engaging discussion, Chris Lee and Trent Lowenstein share the turnaround story of Amber's podiatry clinics in Portland, Oregon. Designed for medical practitioners struggling with profitability and business owners looking to scale efficiently, this episode provides actionable insights to transform your practice from running in the red to flourishing in the black. Learn how Amber went from a net operating income of negative $144,000 to a positive $23,000 in just a few months by joining the Next Level community, focusing on key metrics, and implementing strategic marketing initiatives. Discover the importance of staff accountability, the power of knowing and tracking key metrics, and how to effectively budget your marketing spend to fill up your practice’s calendar.
Highlights:
“Previously none of our employees knew what it meant to be successful.”
“When you can measure something, you can control it. Before, there was no visibility—now we know our break-even, our gross margin, our average revenue per visit. That’s when it gets fun.”
“It’s scary to spend money on marketing when you’ve been in desperation mode. But the opportunity cost of not spending is bigger.”
“Nobody loves your business like you do. Everyone else gets paid, and the entrepreneur goes home wondering how they’re going to make payroll. That’s why alignment and incentive structures are so important—so your team starts pushing the wagon with you.”
Timestamps:
00:00 Introduction
02:25 Turning Point: Joining the Community
04:40 April's Success and Key Implementations
08:50 Clinic Capacity and Staffing Issues
14:24 Compensation Structures and Recruitment
31:38 Marketing Strategies and Cost of Acquisition
37:16 Addressing Marketing Concerns and Repeat Business
40:16 Opportunity Cost and Scaling the Business
49:44 Improving Front Desk Operations and Employee Incentives
59:06 Exploring Marketing Channels and Strategies
01:03:20 Conclusion
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