#97: The Success Formula - podcast episode cover

#97: The Success Formula

Sep 01, 202320 min
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Episode description

#97: The Success Formula


In this episode, Cameron breaks down the formula for achievement in the medical aesthetics industry. Key topics discussed:
  • The importance of talent, effort, skill, and discipline in running a successful med spa
  • How to maintain confidence as a practice owner
  • Applying the achievement formula to various aspects of practice management
  • Balancing clinical skills with business acumen
  • The role of continuous learning and networking in the aesthetics field
Whether you're a new practitioner looking to open your first MedSpa or an established owner seeking to take your practice to the next level, this episode provides invaluable insights on achieving sustainable success. Learn how to combine your clinical talents with essential business skills, implement effective systems, and maintain the discipline needed to thrive in the competitive world of medical aesthetics.

Listen In!


Thank you for listening to this episode of Medical Millionaire!



Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"

Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs in
Medspas, Plastic Surgery, Dermatology, Cosmetic Dental, and Elective Wellness Practices! Dive deep into marketing strategies, scaling your medical practice, attracting high-end clients, and staying ahead with the latest industry trends. Our episodes are packed with insights from industry leaders to boost revenue, enhance patient satisfaction, and master marketing techniques.

Our Host, Cameron Hemphill, has been in Aesthetics for over 10 years and has supported over 1,000 Practices, including 2,300 providers. He has worked with some of the industry's most well-recognized brands, practice owners, and key opinion leaders.

Tune in every week to transform your practice into a thriving, profitable venture with expert guidance on the following categories...

-Marketing
-CRM
-Patient Bookings
-Industry Trends Backed By Data
-EMR's
-Finance
-Sales
-Mindset
-Workflow Automation
-Technology
-Tech Stack
-Patient Retention

Learn how to take your Medical Aesthetics Practice from the following stages....
-Startup
-Growth
-Optimize
-Exit 

Inquire Here:

http://get.growth99.com/mm/

Transcript

This is Medical Millionaire, the podcast helping your metspot increase in status, visibility and profitability. Join your host is he dispels myths, shares trends, and gives you actionable steps today that we'll take your medical practice to the next level. Here's your host, expert marketer and founder of Growth ninety nine, Cameron Hemphill. Hey, what's up everybody. Cameron Hemphill here your host for Medical Millionaire. Hey, first off, 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 a medical practice owner, this podcast it's one percent design for you. My team and I we have consulted practice owners all over the country for years. We see one's thriving it, killing it, having fun. We see one still is trying to figuring out failing, not sure why right. So throughout this journey together, we want to help

you take your practice to the next level. No matter where you're at, If you're thinking about getting into becoming a practice owner, you want to open up a medical practice, an aesthetics practice, cosmetics practice. You want to take your practice to new heights. Maybe you want to go to multiple locations. Maybe you want to increase revenues, Maybe you want to figure out how to hire people, how to fire people, how to build an incredible sustainable

financial future for your practice. All of the episodes that we dive into that we've created over the years, dive into all aspects of scenarios that you can get value from in everything that we push out for you. So what I want to talk about today is achievement and what achievement means to you? What does it truly mean to achieve right? Because if you go back throughout your life, there has been a lot of times where you have felt achievement.

Right. Maybe that was when you graduated high school. Maybe it was when you made the varsity you know, cheerleading team, football team, you know, whatever was, swim team, golf team, whatever it was, Right, there was a level of achievement. What did that mean to you? What did it feel like? Did you feel that fire in your belly? Did you feel that burn? Right? And I think a lot of times throughout life we need to go back and remember what it feels like to achieve

because being an entrepreneur is extremely challenging. Being a practice owner as an entrepreneur is even more challenging. Right, There's so many things that you have to do with throughout the day in order to build a successful practice. Right, So a lot of times you can get lost, right if you just hire you if you're having a bad day and you keep just like the week's going bad, the months going bad, the years going bad, whatever it is.

There's nonsense in the news, like there's just bad energy. You have to take yourself back and say, you know what, visualize when I felt achievement and understand what that feels. So put that energy back into you and put that energy back into your practice. Right, So let's talk about the formula for achievement. And again, like a lot of people have you know that I follow very successful entrepreneurs, very successful practice owners. They have visualizations

that they go through and remember times when they had achievement. And what that does is it starts to rebuild your confidence. Okay, So if you if you feel like your confidence is not as good as it was, right, this happens being a practice owner, being an entrepreneur, Like you could have had more confidence last week versus this week. Maybe you were fully booked last week, everything was just running great. And you're like, oh my gosh,

I'm on top of it. I've figured it out. Finally everything's going good. If all the kinks are out, Monday morning hits, you're like what happened? You know, like why is this week so different than last? So your confidence has evs and flows, right, it can go up and go down, But if you constantly put your mind back in that achievement spirit, like hey, here's how I felt when I had that level of achievement, it's going to help you maintain that level of confidence that you need.

Right, So let's talk about the formula. So the achievement formula for achieving right, Let's talk about talent for a second. We all know that medical practice owners are extremely talented in their craft. Tremendous amount of education, tremendous amount of studying, tremendous amount of courses, continuous education, learning new techniques, networking, like there takes a tremendous amount of talent in order to do what you guys are able to do. Right, So best is one.

Actually, this is another level where you need to fall back on and say, you know, I'm confident in my craft because you are talented. If you have conducted treatments, right, and you have seen the results and you have seen the people just like so happy that they produced tears because of the results. That is from your talent, That is from the skills that

you guys have invested your time and effort into. Right now, if you're if you're becoming a new practice owner, right, and maybe you haven't built up that talent yet, you're just coming out of the schooling, the training, the courses whatever you have to learn how to fail, right, you have to take that first step and you have to just jump in in order to get yourself to become you know, just more and more talented and more and more skilled. Right, So talking about talent again, you guys are

extremely talented. Okay. However, talent can also backfire, right, It can also be the downfall of you. If you think that you're the most talented person in the room and now you don't need to have any effort, this is what's going to hold you back. You're going to be blinded by just thinking that you're the smartest, most talented person in the room, and so now you don't need to apply any effort. And that's when you start

experiencing contraction. Right, And the last thing a business practice right, a business. Again, I talk about it a lot. Your medical practice is a business, and I talked about running your practice like a business. The last thing a business wants is contraction. You constantly want expansion. And I'm not saying you always have to expand every single day, every single week. But over the course of time, your practice should be growing. Right.

If it's contracting and continuously squeezing, something's happening. Right. So if you take your talent and you times that by effort, that equals skill. Okay, let's say that again. Talent times effort equals skill. Right, that's the skill set that you have in order to carry out your craft to grow your practice. Right. So now you have skill. But let's take it to the next level. Let's take skill times effort. Skill times effort equals

achievement, and that is the formula for achieving. So if you're driving in your car right now, or you're at the gym or whatever you guys are doing, and you're taking this all in, I want you to push pause. Take this in. Talent times effort equals skill. Skill times effort equals achievement. That is the formula for achieving right, So let's break it down for you skill set. What is the skill set you have? It goes beyond your talent, right. Your talent is your craft, but your skill

is what puts you in the position to run a successful practice. All different levels of skill where there has to do with marketing, understanding processes, understanding technology, financial statements, profit and loss statements, balance sheet, how to hire someone, build culture, fire someone, manage your website, your SCO, your EMR systems, connect with your accounting, acquiring the right equipment,

how to finance equipment, how to buy equipment at great prices? Right, Like, all of this requires skill, right, the talent is the craft. The skill is running the practice right. But then when you pour the fire on, the fire is the effort, right, the effort put involved. When you have talent skill and then you pour the effort on, that's when the magic happens. Okay, And then when you have the effort and you compound that by daily discipline. This is the exact recipe for SESS.

The successful recipe and formula is all of those combines. So you have talent, which is skill set. You have effort, right, you have skill which is running. The practice. Effort is the fuel, and you can if you only have a little bit of effort, you're not going to get it very far. That's the achievement for formula and the formula for achieving, right, that's the formula for achievement and achieving. But once you put discipline

on that, that's what ties success all together. Now what is discipline? Thank you for listening to Medical Millionaire. I wanted to take just a few short moments and tell you all about Growth ninety nine University. Naturally, if you're listening to Medical Millionaire, the success of your MEDSPA is extremely important to you, and as it should be. And if you're listening to Medical Millionaire, you are obviously looking for the best, most effective ways to take your

medspot to the next level in both profit and customer success. Enter Growth ninety nine University. Ranging from online education courses all the way to the full suite of marketing and web services, Growth ninety nine has your medspot covered. No matter the challenges that you're facing, we are ready and able to help you

achieve your next level in business, profit and freedom. To inquire about all of our support services and products, please visit Growth ninety nine dot com and while you're there, click the university link and check out the companion course to this very podcast, back to the show. Discipline is applying effort time and time and time and time and time again, doing it when you do not

want to do it right. There are so many times that very successful people do things, very successful practice owners do things they don't want to do. They know they have to do them, and they know if they continuously do them with repetition, they are going to see success. And this is the complete formula. Guys. This is it. It's very it's very simple. Like it's simple, but it's very hard. Right. A lot of people are like the talent can say, Okay, well I guess I'm talented.

But that's confidence, right, that's the confidence. The effort, right, The effort is do I want to do it right? The skill is running the systems, do I know how to do them right? And then when you pour discipline on it, that's where people can get burned out. Okay, So when you put all of those components together, I'm telling you right now, this is how very successful practice owners run their practice, and this is how they continuously win time and time again. It doesn't matter if there's

economic contraction or if there's economic expansion. They know what they have to do every day. And so when you break it down into those pillars, this is why you see very successful practice owners continuously enhancing their talent. They are going to networking events, they are signing up for advanced courses, they are hiring coaches, they are tuning into content like this, they are building their own courses. They're reaching through to try to break their talent, like how

far can their talent go? Right? How far can their talent go? And then take the skill on top of that. Right, So the talent, you continuously expand your talent through education, right, through self learning, through connecting with people, right, and then you take the skill. When I look at the skill, the skill is the talent and running the practice. While the skill comes in with systems. That's the systems right from when

the booking happens. Right, So you have marketing pulls in the booking, the potential booking, the lead if you will, right, and maybe you have leads coming in from your Instagram dms, you have leads coming in from your website, you have leads coming in from your Google ads, your Facebook ads, your Instagram ads, your word of mouth, referral, your TikTok link tree, all of these places. Well, a skilled person will realize,

wow, how can I manage all of this communication? Maybe I need a system, And that's where a CRM system comes into play, funnel all of that communication into one centralized system. That way you have systematic follow up, systematic accountability, systematic conversion, systematic data points, systematic text messages,

systematic email templates. And it's trainable. Right. If you have somebody that runs your CRUM system after you already set it up and it's already running, you can train someone if you lose that person, right, because there's now a procedure, there's a process, right, and then once that lead converts into a patient goes into the EMR system, the EMR system does this thing,

and then what do you have from there? Referral, repeat right, rense and repeat upsell, rebook membership, all of those things that you guys have on the table, right, But you have to have that's the skill of running a very successful practice. Okay, you know how you know you have the talent because that's why you're going to get into the field or you are in the field. But where I see at break is the skill.

People stop investing in the skill, right, and maybe they say, I'm not tech savvy, or I don't understand this stuff, or I'm not really good on social media. Look, you have to continue to invest in your skill. That's running the practice, okay, And when you put the effort in, you can't just put it in for one day. You cannot just say, oh, I tried social media, I tried the skill. I tried to implement an EMR system. I tried to run SEO, I tried

to run Facebook ads, I tried all this stuff. You have to try, and you have to fail and you have to get back up again. Right, that's the effort. So when you put discipline on it, that's where no matter what happens, you're going to continuously wake up and keep doing the job and keep learning and keep cranking. And that's the grind. Like that is the hustle. The discipline is the hustle. Right. A lot of times people are like, oh, that person is a hustler. It

almost kind of has like a negative taste, if you will. But a hustler is someone that has just tremendous discipline discipline is very, very it's it's hard, it's it's it's probably the most critical component of success. And you could apply this to like every aspect of your life, by the way, not just being a practice owner, but a lot of times I'll reference things like, Hey, let's talk about fitness. You can't go to the gym one day and expect results. You have to keep going. Right. So

let's say you're talented, you're athletic. Okay, let's apply the scenario to a like like just to like physical fitness. Right. Talented, Okay, this person is athletic, they're talented, Okay. The skill is they have to invest in their talent, right, they have to continuously learning the skill. They have to invest in the talent. Right. Now, let's look at effort. You have to use your talent. You have to use all of the tricks that you've learned when you when you have these skill sets,

right, you have to apply that. Now, let's add discipline to it. That's where you become a professional athlete. Right. You have talent, right, you have the skill. You apply nature to the skill. You invest in the skill you have. You can't have a little bit of effort.

That's a that's a winning that's a losing team, right, that's a losing team, right, Like you have to have the accountability and the discipline, and when you do that time and time again, that's what's going to help you, guys wherever you're at, Like, whatever aspect of life that you guys are at, that's what's going to help you take yourself to the next level. Like I want to talk about how you apply this to you

know, the medical arena. But at the same time, like you can apply this type of content and this type of formula through all aspects of your life and all roles. Right. So you could apply it to your marriage. You could apply it to if you're not married, your spouse or whatever it is, right, you could you could apply it to your children. You could apply it to your hobby. Right, So for all of these

that that don't know. For I'm an avid golfer, Like I love golf, played high school golf, I played golf at college, and I was I actually got my PGA card. So I had talent and I had skill. I invested in my skill all the time, right, all the time. And I had effort. But I'm telling you right now, I didn't

have the discipline in order to make it big on the PGA Tour. When you look at these professional golfers on the PGA Tour, they hit golf balls for two or three hours a day, every single day, every single day. They hit him. Now, one day they may hit him great. The next day they may hit him not great. The next thing they may hit him great. Right, but no matter what, they hit him every

single day, every single day. They hit the golf balls right. They put the golf balls, ship the golf balls, hit the iron, shit, the drivers, all that stuff. They're talented, like they're everybody on on the PGA Tour is talented. They're they're all talented. They all invest in their skill, right, which is their equipment in this case, right, it's their equipment. It's it's their their glove, it's their shoes, it's shoot, it's the hat, it's it's the equipment, it's the ball,

is the t's all that stuff. The coach, right, and they put in the effort. But the ones that win, the ones that win major championships, those are the ones that continuously put in the discipline, and that's what creates a Hall of Fame Professional golfer, if you will, right, That's what made Michael Jordan, That's what made Kobe Bryant right. If you guys have ever studied some of these professional athletes, it comes down to

discipline, you know. I read Tim Grover's book. He was Michael Jordan's coach and Kobe Bryant's coach, and he talked about how these guys would wake up at three in the morning and go go shoot hoops. They would go to the court and practice for four or five hours before the other guys would show up to the practice. Like that's how dedicated they were, right, And that's the discipline that they had, And that's obviously why you know their

names will always be remembered. Well, obviously extreme examples, but at the same time, I'm trying to get the point across that everybody's talented, Like like everybody's talented in their own way. Invest in the skill, apply effort, compound the effort with discipline. All right, guys, I'm gonna let you go. I appreciate your time. Thank you so much. If you found this content valuable, please share it, keep this conversation going until next time. Happy injecting

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