You're listening to Medical Millionaire, your podcast for medspot owners, medical aesthetics, cosmetics and elective wellness entrepreneurs. Each week, we dive deep into powerful marketing strategies, proven scaling tactics, and the secrets to attracting high end clients, all while staying ahead of the latest industry trends. Join us as we uncover insights from top industry leaders to help you boost revenue, enhance patient satisfaction, and master the art of marketing your practice.
Hosted by Cameron Hanppill. With over a decade of experience in the aesthetics industry, Cameron has supported thousands of practices and providers, working with some of the biggest names, most well respected brands, and elite industry thought leaders in the field. If you're ready to level up your practice and become a true medical millionaire, this is your podcast. Here's your host, Cameron Handpill.
Hey, what's up everybody? Cam Hempill Here your host were Medical Millionaire. Hey, guys, thank you so much for taking the time to tune into the podcast. Our goal is to give incredible value and insight for practice owners. So if you're thinking about becoming a practice owner, you already own a practice. You're looking to scale everything that we bring in these episodes, Guys, they are one hundred percent designed for you and to help take your practice to
the next level. I have an incredible guest on today. Her and I have been chatting over the past month. It was actually hard to get on her calendar. Guys. And she's been coaching women men for years. She's wrote a book, She's an incredible speaker, she has her own podcast. I'm going to welcome Andrea and Libros to the show today. Andrea, thank you so much for joining me.
Thank you for inviting me. I'm happy to be here.
Well, before we jump in and normally I just like, I know you're busy, but it's it's you know, I'm going to hammer you with questions. I know you've helped so many people from coaching mindset to delegate tasks, money marketing, really how to become a CEO and how to run practice your practice as a CEO and kind of what's holding people back. So do us a favor before I just start going into that, help us understand more about your background. What led you to become a coach, because
you don't just start off as a coach. You have to go through a lot of a lot of shit you have to go. You get to have a tremendous amount of scar tissue to become a coach, right, and so walk us through that. I'm curious to understand.
That, Yeah, you do have to go through a lot. That's true. That's true. So I think what got me to where I am today. Obviously it wasn't just one thing, right, It was a lot of things put together. But the last role I played kind of under a corporate umbrella, was I was recruiting and hiring and training. This is those are their words, recruiting, hiring, and training. Knew what I would call franchise owners. They didn't call them franchise owners, but that's sort of what we were doing. And I
stayed there for ten years. I was one of them originally, but I stayed under this corporate umbrella for ten years. And when I left and assessed, like, hey, why did I stay and why did I leave? The answers led me to the business I've built over the last eight years. And what I realized was I left because all of my will call them in air quotes, great ideas. They were labeled as great ideas, but they never came to fruition,
and I became really frustrated by that. So that was kind of like a start there of me identifying big thinking okay, and the corporate they kind of wanted to stay in the box, play it safe. Oh we've done it this way for one hundred years, so we're still going to keep doing it right. So that was their game and I didn't want to play their game anymore. And then second piece of that is I did. I was there for ten years, so what was going on there?
And I realized what I really loved about what I did was helping these new business owners through what I would now dub the messy middle. And that's when you have your your business is happening, you're all in, you're profitable, people are knocking at your door, and then you, as the owner, it starts to feel very heavy, kind of messy. You start to question should I even be doing this? Am I doing it wrong? I can't keep doing it
this way. It's taking away time from my family. Or I'm realizing, you know, I'm wearing all the hats and I just I can't hack it anymore. So helping those business owners kind of get through the messy middle. So the book I wrote it's called She Thinks Big, The Entrepreneurial Woman's Guide to Moving Past the Messy Middle and into the Extraordinary. And that's kind of where it all
came together. So that's how I So when I left and I figured that out for myself, a friend said to me, you know, you're really you've really just been coaching for ten years. I said, Okay, I guess you're right. Like I hadn't really looked at it like that, but that's kind of what led me to do this. And then I went through all the certifications and all the other things, but being my own business owner and then helping others, that's what led to led me to where I am today.
I love it. I love it. I mean, you have to go through these you get to go through the journey. You have to go through life, you know, and you have to find yourself in these type of situations to have the story that you have and to be able to impact so many people that walk around it and want to make a difference. And I have so much sympathy for that. I've actually been in that same exact
position historically in my life. These are great ideas. Those are great ideas, send an email and well, let's have a meeting around it. And it's just it's sometimes those ideas get executed and I'm talking from a corpusandpoint back when what we're saying earlier. But most of the time they don't, you know, and it's like it's a complete waste of time. You have an idea, it's truly a breakthrough.
It's not just an idea. It's more of a hey, here's our options, like, let's go execute, and you get too many personalities in the way, You get too many people with opinions in the way. It's the slow moving snail type approach, and you find yourself in a situation like I don't know how much more I can help contribute to your cause if you're not taking my ideas, taking action and implementing them. And so I I understand that I've completely been there and a lot of times.
That's what's cool about being an entrepreneurs. You can move much faster. You know, you can make decisions quick, which also brings you to a position did I make the right decision? Did I make the wrong decision? Am I moving too fast? Should I consult somebody, should I hire somebody. I get that side of it too, and then eventually you become if you are around you know long enough. And I always look at entrepreneurship as the last person standing.
If you can, if you can continue to hack it, then your your business might get so big and sell it and eventually you'll be back in that room again to where that's a great idea. I've been on that journey too, and it's very very interesting, and so I can completely understand that. And you know the fact that you've been coaching for for as long as you have
and helping people, it's amazing. And so one of the things that I see from entrepreneurs, and we're talking entrepreneurs that own practices, want to own practices, have a strong clinical background, but truly need help understanding that they are an entrepreneur. They are a practice owner. Yeah, they have to make decisions and they get themselves in a position to where they do get stuck. They question themselves just like what you were saying, And I have a question
for you. It's like, what is the biggest you know, from a mindset blocking standpoint, holding entrepreneurs back from scaling their practice? Right? How can they start to break through it today? Is it the why is it the purpose? Talk to us about that?
So I think there's a there's a couple of things, But why do they get stuck? So that was kind
of your question, why do they get stuck? I think what happens is that we get stuck in the day to day, in the in the to do list, right, so we see with our eyes what is right in front of us what needs to get done right, or we get into we get an alert on our phone that then our brain's off to something of else, right, So we get really stuck in the day to day, all right, And that doesn't allow or give us the space to think about what we really need to be
doing on a bigger scale that aligns with where we want to go. So I always start out when I work with my clients, I do what I call a vision into action intensive And I use that terminology very intentionally because you do have a vision, like you started this practice, or you're thinking about starting this practice with a vision of what it's going to look like, what
it's going to feel like, you definitely probably have a why. Okay, it doesn't have to be even elaborate, but there's something out there, and you're not just thinking on day one. You're not just thinking about day one. You're thinking about where you want this thing to be in ten years probably, and it's super fuzzy. That ten year picture can be really fuzzy. It can be like a Renaissance painting on a wall. Doesn't have to be specific, okay, But as you get into the day to day, you start to
lose track of that vision. And I always ask, I say, okay, if I'm doing this is speaking like Raisa who has a to do list. Everybody raises their hand, how many things are on that to do list? Oh? I get ten, twenty, right, whatever? And I say, if you look at that list, how many of those things are really going to get you closer to that vision that you have of where you
want to be in three, five, or ten years? And then I just look at people's faces, Well not many, or they say, well, this one thing, it's been on the list. I just keep moving it from day to day or week to week or month to month, and I just kind of like never get around to it. And I know, like that would be something that would move the vision closer. But it's just going to take time and money and energy and probably some more people.
And I don't know. I just haven't gotten there. So I think what gets in the way of or what keeps us stuck are those daily to dos, and what moves us out of that is by continually assessing are our actions aligned with our vision and what's the why behind all the things that we're doing on a daily basis. So it's not really about the action, it's really about your thoughts, like are you in the headspace? Can you keep yourself in the headspace to think bigger to go after?
Like that thing that keeps moving from day to day, it's it's not a it's not a checkbox thing, I will bet you money. It's something that has tentacles and parts and has to probably get planned and talked about, Like can you keep yourself in the headspace to explore what that is really all about? And it's hard, it's hard. This is hard work. So this is the hard work, Like this is harder than serving the client that walk
through the door or finding the new customer. Like this stuff keeping yourself in that entrepreneurial mindset is super challenging.
It is challenging it's yeah, you have this to do list. Whether you're opening up a practice, there's a tremendous amount of things you have to do. Find a location, find a marketing company, spin up an Instagram feed like whatever it is, right by product, inventory, hire providers or if you have it's I think that that is actually less challenging than when you have a practice that's doing one
to two million dollars a year in revenue. You have to Yeah, it's it's the starting, right, So you have this this start to do list, and that also can equate to the vision that you have. Hey, I got to get here. I got to get here to complete the vision that I had. When it's it's I think like, and you have to give me your opinion on this, but I'm speaking for myself. I've built a few companies that you know that done pretty well seven eight figures. I found myself in those shoes, and I know practice
owners do as well. When your business starts to get one, two, three, four million, and you haven't fired yourself from objectives you have, you're you're you almost become the administrator if you're not careful.
Yeah. So so I talk about this a lot with my client. So I look at any business and there's five levels or five roles. Rather in every business there's the doer, okay, then there's the implementer, a manager, a leader, and a visionary. And when you get to that say seven figure mark, if you're still playing all of those roles or have your hand, I mean, at that point,
hopefully you've got other people on your team. But if you're still got your hand in all of those things, you can you cannot do what only you can do, which is really the leader or visionary aspect. Right, So you're still kind of stuck in the weeds, and that slows you down, and that doesn't even allow you to lead this company further. Like you're you're two down there in that in that lineup of roles. But sometimes it's
hard letting go of things. Other times you're realizing it's going to take time and money and people to let go of things, and that can be a fear. Can I afford it? Is it worth it? YadA YadA? Right, So we kind of we kind of are like our own worst enemy and we're staying in all of we're playing all of those roles, and that doesn't lead to the growth or scale that you once envisioned.
Yeah, you know. It's sixty seven percent of all practices are owned by single providers in the medical aesthetics space, medical asthetics primarily. Okay, And this isn't so this is a data report that AMSTOPT published and the average medical aesthetics practice is about one point four million Okay. So it's like you have a big chunk of the market that is producing a seven figure business. But where I see them really struggle is getting to the three million
dollar business. Yep. And it's because they are practice owner provider ran practices that build up a great clientele, very loyal patients, have a good brand, they're pretty good marketers. They have some tools and some systems, but they are the ones that are putting in the hours face to face with the patients. And I've had a lot of conversation with practice owners, and where they struggle is delegating
that provider patient relationship to another trusted provider. And you, guys, for the audience, you guys can just really start thinking that. So if you're sitting it, if you've been in practice for a few years and you're doing one and a half to two and you're happy with that, all good, that's like the two you know, that's all your deal. But if you're thinking about ways to get to three, four, five, six million, there is a playbook and like look at it,
like take take her advice. If you fire yourself from you maybe you're doing eight appointments a day, eight hours a day of appointments. How do you have the time to focus on the end. How do you have time to focus on the administrative tasks? Like you're going to burn out? If you can hire a provider, bring them in, coach them under you, right, get them well positioned. Cut
that time in half. Now you have four o those four hours of time to focus on the vision, to focus on why you're there, the passion, what your next game plan is, and really map that out. And here's where I think they get stuck. And you coach way more than me. I just have you know this podcast and have built some companies in the medical side space. But I think like they start to get comfortable making this certain amount of income.
Yeah, and they start they don't see that there's even like another possible level there.
That's right. It's like, well, I got to hire a provider. They're going to cost money. It's going to take income away from me. And they've already built up this this life style that is expensive. And so if you can keep your lifestylen or wraps and hire that provider and you want it, you want to create time and if you buy, if you buy your time back, you can easily get to that three four five million dollar breakout.
Yes, So I think what's interesting is I just had a client do this. She was debating hiring another provider, right, so you know, and but it is exactly what you just said. But then I'm gonna have to pay them a salary and then or whatever I'm going to however they're structuring payout. But and that's going to take away from the bottom line. So I said to her, put into chat gpt tack about little AI. Put into chat GPT,
what would you be able to do? What revenue would you be able to generate if you hired another provider? And the answer that chat gpt came back with was amazing. Definitely, I'm friends with chat GPT on this one, and it really showed her what was possible and what other things she could be doing with her time which could be actually growing the business more like if she were, you know, be playing more of the marketer role, right and developing
relationships in the community to bring more patients in. Like that's going to grow the business more than her being in her room provider room for eight hours a day, right, But it's really hard for someone to see that. So I think though, another piece of this is is systems. So have you developed enough systems as the soul provider in they flushed out enough that you could explain to someone else how you do things and why you do them.
That takes time, energy, and money. And that's also scary too, like no one's going to do it my way, right, Well, no, no one is. You are unique and you are doing it your way. But they can do it a version of your way, right. You just have to provide them with the system systematic, some systematic kinds of thinking and then okay, but they're never going to get to that three or four million if they don't take that leap. And that's kind of where this big thinking thing comes into.
So I always say, like, go become friends. You have a new friend, go become friends with future you. So that's like you three years from now, Okay, what is you three years from now doing and I want you to think of that future you with a big smile on her face. Okay, so she's definitely happy. What is she doing. Oh, she's taking vacation and she's she's got three locations and things work like clockwork in her business. Okay,
what would she tell you to do today? Like, ask her for some advice, And I mean the answer is always like, of course, hire the other provider, or you know, get yourself out from behind the chairs. Sometimes people call it right that future you knows the answer, and that is one of the tenants of big thinking. I say, there's five tenants of big thinking, and one of them is to consider consider your thought options, Like how else
could you think about things? In future you has a whole other way to think about things.
I'd like how you break that down, because as I was just doing it, as you're talking right, as you start to look at yourself two or three years later, I hope I'm not doing the same thing I'm doing today, right, But the noise will keep you there right. The to do list you doing the same thing over and over and over again will keep you where you currently are, right. And so I love that I'm sure everybody gives you
the same answer. Well, I'm going to be happier, I'm gonna have more locations as soon as going to run like clockwork. I'm certainly not going to be serving twelve patients every single day and just continue to burn out. Right, at some point I want to hire that provider, that front desk person, invest in that piece of tech so everything becomes automated. And you know, you're right. It's like, guys, if you don't start to fire yourself from certain objectives.
And I think like one of the you know, things that I could help out on this specific episode today is write down what you're doing every single day, and then a lot how many hours you're focusing on what you're doing, and is that contributing to that goal? Are you? Are you? Is there anything on that list that's going to help you get to that point to where you see yourself in those three years? Right? Because like, right,
what I see it all the time. I'm on Instagram, I follow so many providers, A lot of providers follow me. In the aesthetic industry, owners often are the brand, right, they often are the brand. It's like injector person, This injector person that which is great, Like you have to brand yourself. I totally get that, but but you guys, you need to start thinking how you can move from
being the technician to being the true CEO. And so how's your Yeah, you're coaching that, Mike Water like leaning on that for a little bit.
Yeah, so I talk about like this, what's your CEO mindset? Like are you showing up as a CEO? And a lot of providers don't think of themselves as CEOs? Yeah, right, Like this is like I don't I'm not a CEO? Well really, like who is?
Then?
Who is the CEO of your business? And I think the why sometimes this is hard if they don't think of themselves as the CEO is because they're still sweeping the floor at night. And CEOs don't sweep the floor at night. Right, So okay, no wonder you're having a hard time like putting that CEO kind of hat on because you're still doing all of the things, which which brings me to another point. So earlier on today on a coaching call, I said to me, Okay, so I want to get to this next level? What do you
think I need to do? Like, what are my next best steps? Let's talk about this. What do I need to do? Tell me? Tell me? So, Okay, I can give you some things I think you need to do. Sure, However, I think a better question, or a better question to ask yourself is what do you need to think in order to get to that next level? Or if you want to go a little deeper, what do you need to believe in order to get to that next level?
So I kind of pushed her on this, and she said, I need to believe that I'm capable of growing this business. I need to believe that there are enough patients, clients, customers out there that want my services. I need to believe that I can manage effectively. I need So there's all these things that are like, I believe I can grow a brand. She came up with, I think five different beliefs, and I said, all right, what if those
beliefs kind of now became your to do list? So instead of a to do list, you had a to believe list, And if you had a too believe list, those to dos, those actions, those next steps are gonna sort themselves out like they're gonna come to you. It's gonna be really easy. So if you thought that you could have two locations. You're gonna get really busy looking at commercial real estate. Okay, you know you're gonna that's
what you're gonna be doing. Okay. If you believe that there's enough people in your area for you to find you and use your services, then you're going to kick up your marketing not marketing efforts, right, So that to believe list should really become the to do list. I mean that that I think is key. And it's hard
stay in there. It's hard staying in that space because all of a sudden, someone's gonna come in and complain about something, or someone's not going to show for their appointment, give you a hard time that you charge them a no show fee, okay, and then all of a sudden you're like back into the oh, I don't know.
Yeah, right, you're good. You're really good. The beliefless I need a believeless. I think we all can do. That's so true. I mean, it just takes this this, you know, your level of thinking in a completely different angle versus the interruption of noise in the day to day to do list that's never ending.
This podcast is sponsored by Growth ninety nine. The Game changer your medspa has been waiting for. Running a business in today's fast paced world is no easy task. You've got patience to care for, a team to lead, and a brand to grow. But what if you had a partner to help you take your practice to the next level. That's where Growth ninety nine comes in. Growth ninety nine is an all in one digital marketing solution designed specifically
for medspas and practices. Thousands of providers already trust our platform and expertise to streamline their marketing, grow their client base, and free up more of their time. Whether it's cutting edge marketing automation, building a robust online presence, or giving you the tools to attract and retain loyal clients, Growth ninety nine delivers results. If you're tired of doing it all alone or feeling stuck with outdated strategies, it's time
to get the support you've been looking for. Growth ninety nine has your back, empowering you to focus on what you do best while we handle the rest. Check them out at get dot Growth ninety nine dot com, slash MM. Your practice deserves the growth you've always envisioned. Let Growth ninety nine help you make it happen. Now back to the show.
You know, I think that obviously, guys, as you're working with your patients day to day, given you know that that one on one time that you have them is absolutely critical. But if you find yourself not having the time and the day and you're just at max capacity, like your utilization rates out of control, and why don't you take, you know, time to just take a step back and remove a couple appointments from the week to
focus on this belief list. And I know and Andrea knows that you're going to put yourself in a situation to where you're focusing on the long term objectives and having the energy to do it and the time to do it, and put yourself in a situation to where you're ultimately going to grow your practice and have that breakthrough, right.
You have to do You have to give yourself the space to do this type of thinking, and I think setting supports up around you to allow for that to happen is crucial. So that means everything from being a better delegator and having the right people on your team, but also to giving yourself support so that could look like a coach or a mentor or where where in your week or month have you carved out time to to really I mean, as my husband would say, put
pen to paper on this and get it down. So like I think sometimes when I'm even working with my coach, I mean that's like I have set aside that hour to do this kind of thinking, and by I'm like sort of buying that space for myself. Otherwise I would find fifty two other million things to do. I am one hundred percent sure of that. So one of the those five tenants of big thinking is you need to
secure support. I don't know anyone out there who we could put in air quotes is successful or tremendously successful who doesn't have support around them. And it's it's support that's going to drive you to take massive action. So like podcasts, I mean I'm big on podcasts, clearly, like I have my own and here I am on yours, all right. Books also love books. I wrote one and read a lot of them. But that's like passive action
in a way, that's just absorbing info. Have you set up space for you to take massive action to do some like really deep deep work. So one of the five tenants too is take massive action. I use this acronym trust trust. So you need to have thought options, which we talked a little bit about our stance for real problem and there you don't here's another like breakthrough. You don't have a problem. Like the only problem you have right now in growing this business is you don't
want to experience a negative feeling. It's like there is no real problem. You just don't want to feel. You don't want things to be hard, you don't want to feel guilty, right, you don't want to challenge yourself. That's the only problem. And then you stance for embracing the unknown or uncertainty, like are you okay if you open that other location and you're not really sure how it's going to turn out? Like there's some uncertainty in that.
And then as the secure supportant tea is take massive action. But you've got to You've got to stay in that type of headspace in order to get unstuck.
Yeah, I mean, I've talked to so many people that read books, audios podcast they listen to them on their walks or workouts whatever, and unfortunately there is a ton of on action that comes out of the amazing content that people push out there. Yeah, right, it frustrates me. I think sometimes people almost over consume instead of just
focus on their certain book that I've read. There is one book in particular, I think I've read it ten times and I learned something new every time I read it, and it puts me back in this space of like, oh my gosh, I took this action from reading this material, and this changed my life forever. A lot of it's around financials, like how to study, you know, becoming a financier, to really learn about money and investments and managing the assets right, how to save, how to invest, how to
how to build capital? You know, that was that was for me. And so without you can consume the material, but if you don't take, like you said, massive action on the material you consume, it's like dead weight. It's just like going into your head and almost like there's kind of no point besides, I guess you're telling your friends and bulk colleagues, I read this great book. You should read it. Cool? What did you get from it? Right?
Yeah? And I hear people saying I'm doing all the things like I don't know why this isn't working you what are you doing?
Well?
I took this course and I read this book and I listened to that and I yeah, but what did you do or better yet? Is how did that change your thinking? Like, has anything changed? Have you thought you thought about anything different?
Way?
Well, I mean, I got a lot of ideas, but nothing's happening.
Nothing's happening so well, And I think, like you said, you said something too about guilt, right, they feel that there's this guilt can hold someone back, and so and I think let's let's look at that when you're delegating, right, And I think as an entrepreneur, as you start to delegate activities or conversations with your patients to do is whatever you start to delegate these there's this guilt that
builds up, but you may do it wrong. So even when they know they should delegate, how can they overcome the guilt of delegating.
Yeah, there is some guilt associated delegating. That's so true. So, okay, guilt, feeling guilty. Guilt is just a feeling. Okay, that's all it is, and it's we're humans and we are lucky to be able to feel all the things. But it's not a reason to not do something. And the other thing, too, is think about this when you feel guilty. What action does that trigger in you? What are you doing or not doing when you feel guilty? And if you feel guilty,
then maybe you're like, oh, I'm gonna stop delegating. Okay, So if you stop delegating, then what result does that lead to? Well, that leads to you not having any time for anything else. So do you like that result?
No?
Okay? So if you want a different result, you've got to think in a different way. You've got to instead of thinking, oh, delegating, I should be doing all this myself, or it's not going to be the same if I let someone else do it. Or I've also had I want my staff to see me doing all the things that they do. I don't know if you've ever heard that one. That's when I heard this week, Like I want them to know that I'm just like them, So I'm going to do it too, Okay, being the purpose,
So you've got to have a different thought. You gotta have a different thought, like, hey, delegating is going to give me time, space, energy to do X, Y and Z other things that are going to help grow the business. And delegating is also giving my team the opportunity to hone their skills in a different way. Okay, and then that guilt maybe turns into it doesn't have to turn into excitement to positivity, but maybe it turns into just being like super neutral about it, like okay, I'm just
this is the way. It's just kind of like flatlined it, like okay, and then you're gonna that's going to drive actions that are going to get you closer to your result. But guilt is just a negative feeling that we don't want to feel. And that's all it is. But you know, you know how to do it. I like to say. I always say, like, you know how to do guilt. You've done guilt? Yeah, yeah, And it's usually fleeting too.
It's like the three seconds of courage for the three days of success, right, or ask the question for in two seconds to get two years of whatever. So can you just can you can you work through it?
Man?
Just work through it?
Yeah?
I mean guilt is like yeah, you're just you're just you could be you can feel guilty from deleating the task, or you can just take ownership of the task and remain within the guilt zone within yourself. Right, It's like correct correct, something has to give here if you are in the position to want to scale and break through. And I don't think that there's a practice owner to date. I've been in the I've been in the industry almost eleven years. I have I have yet to talk to
a practice owner that is good where they are. I haven't. I have not talked to a practice owner that is okay with where they are and they're happy with where they want to be. Every one of them wants to grow. I want to grow. I want to grow. I want to grow. I want to grow. So, guys, this is stuff you're telling me, right for the audience that's tuning in,
you tell me this stuff. I've had thousands of phone calls with practice owners and you know, you talk a lot about this million dollar formula, right and and what does that look like for for a wellness business? And I'm want this is like a loaded question, but what does that look like? You know, as you're talking about marketing, for example, we can we can talk a little bit about that on the formula aspect. This is a cash base industry. I often said the best practice owners are
the best marketers. That's like people have to know who you are in order to come see you. That's where it starts. But from this, this million dollar formula, this intentional marketing play and scaling a service based business, like how should they look at that? Your eyes?
I think they have to look at this is they kind of have to do some data driven decision making, is what I like to call it. Okay, so you've got to really get in touch with not necessarily your financial numbers, yes, but also you know where are your leads coming from and are you meeting them where they're at? So I think it's comes a lot of it comes down to metrics, and if you're going to grow a business, then you need to be making decisions that are aligned
with where you want your numbers to go. And also you have to be willing to mean the old adage like to spend money to make money. But you have to increase your risk tolerance. You really have to increase your risk tolerance and ask yourself. MY best question is always what's the worst thing that could happen? What's the worst thing that could happen? Like so what like, Okay, you decide to do mailers and you know from your tracking, you realize no one has come in because of that mailer.
Now that it would be really hard to measure all that. But you know, you spend money and you don't necessarily see a direct return. Okay, if that's the worst thing that can happen, that's not so bad, right, So you've you've got to increase your risk tolerance, which means just getting comfortable with feeling all the feelings. That's all it is, is like confidence is your willingness to feel all the feelings.
But a million dollar business needs strong marketing, and that means you need to be willing to look at metrics and take risks and think bigger, like what would future you tell you to do? And that's a great question.
Yeah, you know, and it's I think if the practice owners start thinking at every avenue from a risk tolarant standpoint, right, risk tolerance you have to raise that. I totally agree. And when you do take risk, when you do decide to invest more in marketing, when you do decide to buy that product you've wanted, roll out that EMR whatever it is that you wanted, right, like enhance your online booking experience, Hi are that provider? Whatever it is you're investing,
you're continuing that. That's the mindset. You have to invest in learning, right, So like back to what you said the mailer, Okay, it didn't work. Well, now you know that, Like you took the time, you invested, you implemented it. Now you know what not to do. So actually you won there, right, you did win.
There, you know?
And I think like that's how you guys can look at it. Is it?
You also have to really get good at assessing is this a cost or is this an investment?
Yeah?
Okay, so costs are things that are going to help you keep the lights on. Okay, So there are definitely some costs in having your own practice, right, No, no one's gonna argue on that one. But if you're the thinking about marketing, for example, there's a baseline cost to that. But most of it is an investment. Investments are things that are going to help you grow, right, So it's not just keeping the lights on and keeping us afloat.
It's something that's going to help us grow. So implementing systems, those are investments. Hiring people, investments for the most part, creating space for yourself or these support systems that I was talking about investment, So you have to think about that. The investment is those are growth generators and being smart, smart about identifying what's a cost versus an investment is a key in creating your growth or in staying in
that headspace mindset of thinking bigger about what's possible. So I think that's a that's a really good way to look at things. Is this a cost or is this an investment?
And a lot of them do look at it from a cost standpoint. You know, it's yeah. And when I really started to think about it, I've spent a lot of time, you know, trying to understand the practice owner's mind and looking at it through their lens. They have so much experience in clinical background education. They can run circles around me when it comes to anatomy, the body, everything, and I can run circles around them when it comes to business and KPIs and benchmarks and all this stuff.
And you know, I have to give it to you guys, as practice owners or people that want to be practice owners, you have to become a business owner, right. You have to start investing in understanding what becoming a business owner looks like. From marketing, finance, patient acquisition, cost, retention rates. You know, what is your utilization rate. You know, what
does it cost you to obtain a lead? You have to really start to double down on your investment to understand how to run a business successfully, because your practice is a business at the end of the day. Yes, you have this amazing clinical background. Shoot your artists, your artists that can make people look beautiful and give confidence. Like that is an amazing skill set. I wish I had that. Yeah, you know, and I think a lot of them, these practice owners are like, well, but I'm
not a business person. What you are though? Right you are? And you have to start looking at things through that lens. And I can tell you right now, out of all the interviews I've had, the people have talked to, the ones that start to invest in the business side of the practice are the ones that have to bake the breakthrough.
They hire the coach, they hire the marketing company, they talk, they go to conferences, they start to get really intentional about their time, right and so, and it's and it's these patterns and once I see the pattern, I see the success and you know, it's it's it's fun to have the conversation like twelve eighteen, twenty four months after that original conversation and see them take action and see the rewards, right and so, but it takes that investment
and that risk tolerance truly to get you, guys, where you want to go.
One hundred percent. Agree with you on that and all the things.
Well, I've really enjoyed having you on and I think I could talk to you for hours. In fact, like I should hire you.
We can do that, We can do that, we can do it. No, it's true though you wear all these hats, right, like the practice owners, you didn't you got into it probably well, there's probably multiple reasons, but one of them is because you love what you do and you can still you can still love what you do and run an amazing business because now, unfortunately or fortunately, you're not just a provider. You are a business owner, a salesperson,
a marketer, a manager. And I know you didn't all sign up to do all those things, but that was part of the package, the surprises bonuses at the end.
Yes, you are. And it's like the word you know one on there is like sales. I'm not a salesperson, you know, that's that's like below that's below me. No, No, one's a salesperson, right, No, one wants to admit it.
I don't want to be pushy.
I don't want to be pushy. I don't want to be it's guys instead of you. You're an educator, right, So by default you give information because you have expertise and that's what you are. So when you think of salesperson, start to think of a person that has expertise that's giving information to help your patient feel and look better. That's it.
Yeah, that's it, right.
And when I go into your practice, like I know, because I've talked to you a lot of you, guys, I know that you are not giving them all the information they need and as a result, they're not getting the result and the desired outcome that are looking for. Right, So so that sales word is critical and I would invest there too. So I got one question for you before we go, Sure, one more, but I may have too, But this is like a non negotiable, right, So let's talk about habits just for a second.
Okay.
I have habits, daily routine habits, Like you know, my morning's pretty pretty specific. And as I've studied entrepreneurs, very successful entrepreneurs, I see a lot of habits that are formed morning routines not negotiable. So what is a habit that you help coach when it comes to like a personal routine that keeps businesses on track for that end result they're looking for. What is one of those those habits you are you can lean in on for us?
I think there are Here's four things that I think you can lean it on. Number one, be a good steward of your time? Right, so can be doing regularly what I call a time audit. Where is your time going? Does it align with that bigger vision like we talked about a few minutes ago, Right, So is your time being spent in ways that are going to get it's going to get you closer to creating that business you want. Second thing, be a really good steward of your money.
Are you in the habit of looking at your financials even if they make you cringe, or even if you think you're quote unquote not good at money, or even if you think you don't know what you're looking at? Have you invested in support to help you figure that out? But you've got to get in the habit of looking at your numbers. Third thing, people, are you continuously honestly like auditing the people that you're associating with, are they are they on your team or are they just there
because they've always been there? Do you have people that, yeah, you can commiserate with, but you also have people in your on your team that are going to kind of call you out on the things that aren't like working or point out you know what might not be so obvious to you, but is obvious to everybody else. Right, So the habit of doing kind of a people audit. And then I think the last thing is be a
really good steward of your own energy. So are you in the habit of figuring out whether or not your energy is you have enough, how to replenish it, and where it should go? Assessing where it should go? So I think time, money, people, energy, you should have habits around all of those.
Well, that is an amazing answer and insight. I mean those those very well said. And guys, I think, like, as you know, to kind of build on that just for a second. Entergy is obviously super important. You're gonna have energy.
You got to get up.
You know. One of the things that I do very regularly is I get up early, and I have this routine that's non negotiable. My body moves. I eat healthy, my body moves. I continuously try to educate myself. For those of you that know me, and if you've had conversation with me outside the podcast, you know that about me. And I think, like, you know, we've made some impact there. We've had people on that are financiers that are there. There truly are financial specialists in the space of aesthetics.
You know how to build out in and l balance sheets, build out a frameworking inside of cookbooks, and teach you about money. And as a business owner, you're working with money. You have expenses, you have income, you have taxes, you have all sorts of stuff. You have loans, you have debt, you have lease agreements. You have to start studying finance, right and then people audit I mean, you said some
brilliant things there, just absolutely brilliant. I think that there's people on your team that maybe maybe shouldn't be on the bus. Yeah, you know, like a lot of people are very slow to fire people. Yeah, do they feel bad? There's this you know, there's this feeling that are they you know an audits, like are they holding me back or pushing me forward? Are they calling me out. They may people that call you out actually are there to probably they care about you and they care about the
vision and the mission of the medical asseetics practice. Right, So you you made some great call outs there, so I know you're super busy. Thank you so much for joining. I know that we had to book this like a month in advance, and and so I appreciate that. So for for the practice owners or the people that are tuning in that want to connect with you, want to follow you, want to read your book, where can they find you? How can they connect with you?
Sure, first I would encourage them all. Like you were saying, I forget how we put this in you said it a couple of minutes ago, but set up a call like I would love to talk to anyone. That call is complimentary and if you don't walk away learning something, then I'll give you your money back. But there's no money, nobody to be exchanged. But just have having conversations. I think is one of the ways that I would love
to connect with your audience. So you can go to Andrea's with an S links with an S andrea'slinks dot com and right there you can book a call. You can also there's a link to my book called She Thinks Big. You can find that on all your favorite booksellers. My podcast also She Thinks Big you can listen to wherever you're listening to this one. And social media. I'm mostly on LinkedIn and Instagram under Andrea Libros or Andrea
Libros Coaching. So yeah, but talk to people like learn and just go into it with who knows what you might find out.
Yeah, thank you so much for that. I completely agree. I think you know, continue to talk to people, educate. Your networth is your network, guys, like you know, breach out to her. Her book is on Audible, it's it's on Amazon, She's got you know, a ton of redews. There's a great book, and her instagram is inspiring and she has a wonderful website as well. So I'll leave it at that. Thank you so much for joining. I
appreciate it. Amazing insight and you know, a lot of a lot of people from tuning in, we'll get a tremendous amount of due guys. So I'll leave with one thing before I before I tune out. Is kind of the overall theme, guys, is when you listen to the podcast and the episodes. Go take action, right, Go take action, Reach out to her, read her book. There is so much gold in me behind what she is trying to help practice owners do. And I'll leave it at that.
It's up to you, guys. You guys, go take massive action. Until next time, happy and jecting. Thanks for tuning in to Medical Millionaire.
Every week, we're here to help you transform your practice into a thriving, profitable venture, covering everything from marketing and patient bookings to mindset, workflow, automation, and beyond. Whether you're just starting out, scaling up, optimizing operations, or planning your exit strategy, this podcast is your go to resource for success in the medical esthetics industry. It's time to supercharge
your practice and take action today. Share this episode with a fellow entrepreneur, Rate the show, and don't forget to click the link in the show notes to access powerful tools and expert guidance at get dot Growth ninety nine dot com, slash MM and make sure to tune into the next episode A Medical Millionaire