#181: Before You Sell Your MedSpa: What 75% Of Owners Learned Too Late
Cameron is joined by Nate Collins, founder of Wealth Strategies of Raymond James and Certified Exit Planning Advisor (CEPA), and they discuss the complexities and emotional challenges of selling a business, particularly in the medical aesthetics field. They explore the motivations behind selling, the emotional aftermath, and the importance of planning for life after the sale. Nate shares his personal experiences and insights on the necessity of having a supportive team of advisors to navigate the exit process successfully. The conversation emphasizes the significance of pursuing personal wellbeing and finding purpose beyond financial success, ultimately guiding entrepreneurs to prepare for a fulfilling life post-exit.Exit Planning webinar on November 5: https://www.raymondjames.com/founderwealthstrategies/events/exit-planning-novListen In!Thank you for listening to this episode of Medical Millionaire!Takeaways:Selling a business can lead to emotional challenges and regrets.Financial independence does not guarantee personal fulfillment.It's crucial to have a plan for life after selling a business.Building a supportive team of advisors is essential for a successful exit.Pursuing personal wellbeing should start before the exit, not after.Finding purpose beyond financial success is vital for happiness.Many entrepreneurs feel lost after selling their business.Proper exit planning can prevent selling under duress.A successful exit requires aligning personal and business goals.Entrepreneurs should prioritize their health and community involvement.Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs inMedspas, 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 RetentionLearn how to take your Medical Aesthetics Practice from the following stages....-Startup-Growth-Optimize-Exit Inquire Here:http://get.growth99.com/mm/
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#180: Crushing The Weight Loss Status Quo: Thinnr’s Disruptive Aesthetic Approach
Cameron is joined by Matt Melnick, the Founder of Thinnr, along with Brandon Morton, the director of partnerships, and they discuss the intersection of medical aesthetics and weight loss. They explore the growing demand for weight loss solutions, the importance of sustainable practices, and the role of technology in enhancing patient experiences. The conversation highlights the Thinnr app, which provides personalized support and accountability, and the product line is designed to aid in weight loss. The episode emphasizes the need for a holistic approach to weight management and the critical role of providers in guiding patients through their journeys.The company link is here: https://medicalmillionaire.thinnrweightloss.com/Listen In!Thank you for listening to this episode of Medical Millionaire!Takeaways:Thinnr combines aesthetics and wellness for effective weight loss solutions.The weight loss industry is projected to grow significantly in the coming years.Sustainable weight loss requires lifestyle changes, not just medication.Providers play a crucial role in guiding patients through their weight loss journeys.Patient experience is key to retaining clients in a competitive market.The Thinnr app offers personalized support and accountability for users.Education on nutrition is essential for long-term weight management.The product line includes FDA-approved medications and supplements for weight loss.Technology can enhance patient-provider interactions and improve outcomes.A holistic approach to weight loss is necessary for lasting results.Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs inMedspas, 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 RetentionLearn how to take your Medical Aesthetics Practice from the following stages....-Startup-Growth-Optimize-Exit Inquire Here:http://get.growth99.com/mm/
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#179: The $1M Mistake: Treating Admin Day Like A Break At Your MedSpa
Cameron emphasizes the critical importance of having an intentional admin day for practice owners. He discusses how this day should be dedicated to working on the business rather than in it, focusing on growth strategies, analyzing business processes, and evaluating marketing efforts. He highlights the need for standard operating procedures, financial awareness, and transitioning from a technician mindset to a CEO mindset. He provides actionable steps for maximizing admin days and stresses the importance of building a strong front desk team and enhancing client experience.Listen In!Thank you for listening to this episode of Medical Millionaire!Takeaways:Your admin day is the most important day of the week.This is your business growth engine.Every hour you spend working on your business saves you 10 hours.The real mistake skipping admin day equals skipping scalability.Growth creates complexity and only intentional strategy simplifies it.Protect one day, your business depends on it.The top 10% of owners never treat admin day as optional.You need to be managing reviews weekly.Are you still operating like a technician?Your admin day is your growth day, your wealth building day.Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs inMedspas, 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 RetentionLearn how to take your Medical Aesthetics Practice from the following stages....-Startup-Growth-Optimize-Exit Inquire Here:http://get.growth99.com/mm/
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#178: Bringing Life Back: How Jennifer Hartley Scaled Skin Synthesis With Soul, Science & Systems
Cameron is joined by Jennifer Hartley, founder of Skin Synthesis, who shares her journey from critical care nursing to establishing her own aesthetics practice. They discuss the challenges of launching a business during the pandemic, the importance of continuous education, networking, and the philosophy behind her practice that focuses on natural results and building long-term relationships with patients. Jennifer also reflects on humbling moments in her practice and the significance of honesty and boundaries in patient care, as well as the role of technology in enhancing patient experiences.Cameron and Jennifer talk about the importance of building strong patient relationships, elevating treatment planning, and the significance of legal compliance in aesthetic practices. They emphasize the need for intentional learning at conferences and prioritizing patient care over profits,. The dialogue highlights the balance between business acumen and patient-centered care in the medical aesthetics industry.Listen In!Thank you for listening to this episode of Medical Millionaire!Takeaways:Jennifer transitioned from critical care to aesthetics to help people live well.The hustle of entrepreneurship requires grit and dedication.Investing in education is crucial for success in aesthetics.Networking is essential for support and growth in the industry.Skin Synthesis focuses on natural results and long-term patient relationships.Humbling moments in aesthetics can be profoundly impactful.Honesty and setting boundaries with patients is vital.Technology plays a significant role in enhancing patient communication.The pandemic presented unique challenges for launching a business.Confidence restoration is a key aspect of aesthetic practice. Building relationships is key to patient loyalty.Follow-up communication enhances patient retention.Elevating treatment plans can improve patient experience.Intentional learning at conferences leads to actionable insights.Legal compliance is crucial for aesthetic practices.Prioritizing patient care can lead to long-term success.Investing in team training is essential for growth.Understanding financials is important but shouldn't overshadow patient care.Accreditation can raise industry standards.Continuous passion for aesthetic medicine is vital for success.Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs inMedspas, 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 RetentionLearn how to take your Medical Aesthetics Practice from the following stages....-Startup-Growth-Optimize-Exit Inquire Here:http://get.growth99.com/mm/
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#177: No More Broke Millionaires: Danielle Hayden On MedSpa Cash Flow
Cameron is joined by Danielle Hayden, CEO and founder of Kickstart Accounting, and they discuss the critical aspects of financial management for medical aesthetics practice owners. They explore the importance of understanding business structures, effective marketing strategies, and the necessity of regular financial analysis. Danielle emphasizes the need for proper bookkeeping, the implications of choosing between LLC and S-Corp structures, and the significance of smart financial practices to ensure sustainable growth and profitability. The conversation highlights the importance of data-driven decision-making and preparing for potential business opportunities and challenges. Listen In!Thank you for listening to this episode of Medical Millionaire!Takeaways:Finances are essential for success in the medical aesthetics industry.Bookkeeping is crucial for building a budget and financial strategy.Practice owners should avoid the comparison game and focus on their own growth.Understanding where to spend money is vital for business health.Marketing spend should be evaluated regularly to align with business goals.Business owners must review their financials monthly for informed decision-making.Choosing the right business structure can impact tax liabilities and personal liability.Paying yourself a reasonable salary is important for financial health.Avoid unnecessary spending that doesn't contribute to business growth.Data-driven decisions can lead to better business outcomes and profitability.Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs inMedspas, 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 RetentionLearn how to take your Medical Aesthetics Practice from the following stages....-Startup-Growth-Optimize-Exit Inquire Here:http://get.growth99.com/mm/
Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs inMedspas, 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 RetentionLearn how to take your Medical Aesthetics Practice from the following stages....-Startup-Growth-Optimize-Exit
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