Dr. James R. Fedich, DC Chiropractor, Coach, Speaker, & Podcast Host

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Dr J’s Path to Success Podcast

Dr. James R. Fedich, DC is a successful chiropractor owning a large multi-disciplinary chiropractic, physical therapy, acupuncture, nutrition and pain management office in northwest NJ. He is also a success coach to other chiropractors, physical therapist, acupuncturist and more. He is the author of Secrets of A Million Dollar Practice and sought after coach and speaker. Listen to his thoughts on success in small business, marriage, fitness and life. Learn short easy practical tips to better your business, fitness, life and relationships.

EPISODE 115 - How to add Weight Loss to your Chiropractic Practice

- Thursday, February 25, 2021

Join Dr James Fedich as he interviews Judson Ward, of Ward Photonics. Dr Fedich and Judson talk about the Obesity epidemic in the USA, how it's worsened during COVID 19. They also discuss how this is a great opportunity to capitalize on the "quarantine 15" and add some beneficial cash services to your clinic today!

EPISODE 114 - Coronavirus and Chiropractors

- Tuesday, March 17, 2020

The date of this recording is March 17th, 2020, and the entire planet is watching nervously as everyday life has been changed by the CORVID-19 pandemic. How is this affecting your chiropractic business? In this episode, Dr J discusses how it has affected his practice and some common sense measures he has taken to reduce fear and keep his patients walking through the door.

EPISODE 113 - Scheduling 101

- Thursday, February 27, 2020

Scheduling is one of those complex topics that defies any kind of simple explanation. Every practice is different and there are many variables that can affect how you set up scheduling for your office. In this episode, I discuss some of the considerations I work through for my own practice and also when I coach other docs on how to set up scheduling in their office.

EPISODE 112 - The 40-70 Rule

- Tuesday, February 18, 2020

Most of you have heard about the 80-20 rule. It's called the Pareto principle. The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes. In this episode, Dr J discusses the 40-70 rule. He talks about how successful people don't try to perfect programs or products before they launch. Most successful people get to the 40%-70% before they launch and then improve as they go. Dr J provides real-world examples of this principle in play.

EPISODE 110 - More New Patients, Fewer problems

- Wednesday, January 08, 2020

Happy New Year, Doc! Have you developed your marketing plan for 2020 yet? If not, you are already behind! In this episode, I talk about the critical importance of getting 20 new patients every month. Whether you are an established clinic with lots of regular patients or a new doc just hitting the streets, the info I present in this episode is critical if you want a successful practice in 2020. If you need help, consider my new course that's designed to kick start your NPs this year. https://www.add20np.com/course

Episode 109 - The Death of Pizza Night

- Thursday, December 05, 2019

EPISODE 108 - New Patient Giftology

- Tuesday, October 29, 2019

Dentists have been giving gifts to patients for years to ensure there is a positive connection between them and their patients. But is this a good idea in chiropractor offices? Dr J shares his thoughts.

EPISODE 107 - Lessons from Sesame Street

- Thursday, October 10, 2019

What do Chiropractic and Sesame Street have in common? In this episode, Dr J explains how chiropractors can still learn from Sesame Street.

EPISODE 106 - How to Run a Successful Patient Appreciation Day

- Tuesday, September 24, 2019

One of your best sources of new business is always referrals from existing patients. So why not reward them with a day of celebration and fun? In this podcast, I explain how to conduct a Successful Patient Appreciation Day and get more new patients out of it.

EPISODE 105 - I'm Back!

- Thursday, September 12, 2019

After nearly a 6-month hiatus, Dr J is back with an explanation of his absence and more practical advise for chiropractors and business owners.

EPISODE 104 - Interview with Richelle Shaw, Author and Creator of the Million Dollar Equation

- Thursday, March 28, 2019

In this episode, Dr J catches up with longtime friend, Richelle Shaw. Richelle is the founder of MDE Nation, president of the National Association For Moms In Business, and creator of “The Million Dollar Equation”. She is also the author of critically acclaimed book, “How to Build A Million Dollar Business in Las Vegas Without the Casinos” and the best selling book, “The Million Dollar Equation“. This one you don't want to miss.

EPISODE 103 - Key Tenets of Digital Marketing for the Healthcare Industry

- Tuesday, March 19, 2019

In this episode, I had the pleasure of emailing Gavin Baker. Gavin is the Principal at Baker Labs. Baker labs is a digital marketing company that specializes in healthcare marketing. They have specific tips, advice, and strategies on how to use digital marketing to grow your practice! Gavin gives some great real world tips as we chat about marketing your practice in 2019 and beyond.

EPISODE 102 - Top 5 People

- Wednesday, March 13, 2019

I was recently re-reading one of the greatest mentors I have ever had. Jim Rohn is one of my top mentors even though I never met the guy! Anyway, he says you become the average of the top 5 people you spend the most time with. In fact, he says if you average the income of your top 5 people, that will be very close to your income. That is why mentors and masterminds are so so important. If you hang around 5 people who average $50,000 a year income, you will make $50k a year. If you take one off and add someone who makes $500,000/year, that average goes way up. In this episode, I talk about my thoughts on this.

EPISODE 101 - Interview with Matt Bertram, Inbound Marketing Specialist

- Wednesday, March 06, 2019

How do all the top personalities market their business? Inbound marketing. Inbound marketing is a marketing methodology that is designed to draw visitors and potential customers in, rather than outwardly pushing a brand, product or service onto prospects in the hope of generating leads or customers. In this episode, Dr J interviews Matt Bertram, and inbound marketing expert, who talks about how to use inbound marketing to get more customers and patients.

EPISODE 100 - Watch Your Gurus

- Wednesday, February 27, 2019

In this episode, Dr J shares a sad story about an energetic young chiropractor who took over a successful business, listened to the wrong advice, and subsequently lost the business due to bad decisions from the advice. It's an eye-opener as it shows that you have to be very careful and use critical thinking skills when getting advice.

EPISODE 99 - Interview with Scott Smith, CEO Royal Legal Solutions

- Wednesday, February 20, 2019

In this power-packed episode, Dr J interviews Scott Royal Smith, CEO Royal Legal Solutions. Scott Royal Smith is a real estate investor and asset protection attorney in Austin, TX. He graduated from Albany Law School and began his career in high-stakes corporate litigation. Scott learned the key secret he now uses to defeat lawsuits: that they are a business. Through his defense work, he targets defeating lawsuits before they are even filed by making sure the business part of a lawsuit no longer makes financial sense for a plaintiff to proceed. He works with clients all over the United States and Canada who want to grow their businesses and protect their hard-earned assets.

EPISODE 98 - The Last Mile

- Wednesday, February 13, 2019

Fresh off of a family vacation, Dr J shares his thoughts on his personal lessons learned during the proverbial "last mile" of the vacation as a super negative experience was turned around through the kindness of employees.

EPISODE 97 - Interview with Shannon Grainger from Big Impact

- Monday, January 28, 2019

In this episode, Dr J interviews Shannon Grainger, a professional speaker with Big Impact, Inc, a professional business mentorship company, emphasizing the power of public speaking and communication. Through educational courses, transformational live events, private mastermind experiences and one on one consulting, Shannon helps speakers, experts, and politicians maximize their stage presence and monetize their message. She strives to “rock the world” and usher in a new era of social, economic and political leadership by awakening the power of voice in experts all over the planet.

EPISODE 96 - What's a customer worth?

- Thursday, January 24, 2019

In this week's episode, I talked about "What is a client's worth?" We are in the middle of our Ultimate New Patient Marketing Machine, 6-week class teaching docs to add 20-40 more new patients a month to their practice. In our first module, we talked about what a new patient is worth. So, we did the math together, total collections per month, divided by new patients. Do your own math now. If you're below 1000, you have a big problem. The average is 1200-1500 in a typical chiropractic office. Why are we talking about this in a NP course? Well, if you're only collecting $700 a patient, we can't spend $500 marketing them in. Find out more here.

EPISODE 95 - Interview with Dr Donna Perillo, DC

- Tuesday, January 15, 2019

This episode of the podcast, I have Dr Donna Perillo, DC. Dr Perillo has been a practicing chiropractor in NJ for over 20 years. She also has extensive experience in other areas. She is an author, researcher, and has her own technique method. She shares her secrets of developing a top notch multi-disciplinary practice a lot of practice lessons and much more! Check it out here.

EPISODE 94 - Is This For...?

- Wednesday, January 09, 2019

During the webinar, I had a question and answer session and I got asked the same question, multiple times from multiple docs. The question was, "Does this work for decompression? Neuropathy? Weight loss?"...plug in the condition here! It was all the same question. The answer, of course, is "YES," but we need to look at the question. Why do you want decompression patients? What age? Sex? Insurance? Maybe we are asking the wrong question. Get my thoughts here.

EPISODE 93 - Interview with David Marcarian from Myovision

- Wednesday, January 02, 2019

In this episode, Dr J interviews Dr David Marcarian from MyoVision. David is a former NASA-Ames Research Center electrophysiologist who made a name for himself developing the Surface EMG that is widely used in chiropractic clinics today. Join in to hear his interesting story and catch up on the latest with this landmark technology.

EPISODE 92 - New Year, New Patients

- Wednesday, December 19, 2018

As we wind down 2018, we naturally seek to slow things down a bit and spend more time with family and friends. But as the final days of the year inexorably count down to zero, business owners know all too well that a full count of 365 days is right on the other side, bringing with it optimism for new growth, new challenges, and, hopefully, many new patients. In this episode, Dr J provides his thoughts on this; PLUS, a FREE gift to each of his listeners that should help with that new patient variable.

EPISODE 91 - Interview with Dr Charles Martin, Dentist, coach

- Wednesday, December 12, 2018

In this episode, Dr J interviews Dr Charles Martin, a great Dentist who has parleyed a successful business mind into a coaching career. Tune in as these two great business minds discuss ways struggling practices can get their marketing plans back on track in 2019.

EPISODE 90 - Holiday Time

- Wednesday, December 05, 2018

The holidays are upon us. We've got office parties, vacations, time off planned...it's time to take the foot off the business accelerator and relax, right? Not so fast. While some of that is true, is it smart to shut the business down completely? In this episode, Dr J shares his experience with running a business during the holidays, and making sure he has enough income in January to pay all his bills.

EPISODE 89 - Interview with Copywriting Expert, Carlos Redlich

- Wednesday, November 28, 2018

Writing good copy is the foundation of any successful marketing plan, but how does a busy entrepreneur find the time to write the golden words that drive successful campaigns? It's tough finding the time and how do you know if you're doing it correctly? In this episode, Dr J interviews copywriting journeyman, Carlos Redlich, and picks his brain on the essentials of writing good copy.

EPISODE 88 - Strategy vs Tactics

- Tuesday, November 13, 2018

Do you know the difference between strategy and tactics? In the marketing world, strategy is the big picture of how you achieve your marketing objectives. For example, your overall strategy could be to increase the number of new patients coming into your clinic or to maximize revenue from your existing patients. The tactics are how you achieve the strategy, which could be anything from a Facebook promotion or Google pay-per-click campaign or open house. In this episode, Dr J talks about the importance of having an effective strategy and executing the tactics to achieve the strategic objectives.

EPISODE 87 - Marketing Secrets with Bond Halbert, son of the late, great, Gary Halbert

- Wednesday, November 07, 2018

Back in September of 1986, Gary Halbert began publishing a newsletter called The Gary Halbert Letter. It was a hit and he managed to turn his newsletter into a thriving business. After passing away, his son Bond Halbert carried the torch and has now staked his own claim to the copy writing empire as a copywriting expert. Please listen in as Bond recounts stories of his father and talks about copy writing today.

EPISODE 86 - Are Chiropractors Real Doctors?

- Tuesday, October 30, 2018

Nothings burns a chiropractor more than someone saying they are not a real doctor. In this episode, Dr J covers some controversial ground as he expands the discussion into DCs doing what it takes to earning the title of "doctor" and getting the respect they deserve. Listen in as Dr J discusses the history of chiropractic medicine and how it relates today.

EPISODE 85 - Thank You NFL for Giving Me Back My Sundays

- Thursday, October 25, 2018

When it comes to his feelings about patriotism, Dr J doesn't pull any punches. He is a dyed-in-the-wool, unapologetic patriot. And when the NFL did little to nothing to stop players from kneeling during the National Anthem, he finally had enough. This long-time NFL fan quit watching. Here Dr J's thoughts on this and how much personal time he reclaimed after his steadfast decision.

EPISODE 84 - Interview with Dr Chad Woolner, Chirofunnels expert

- Wednesday, October 24, 2018

In this episode, Dr J interviews Dr Chad Woolner, a chiropractor who has forged a second career as Chirofunnels expert. Dr Chad has a very interesting story about how he got into the marketing arena after a successful career as a chiropractor. Join in and pick up some key insights along the way.

EPISODE 83 - Interview with Dr Stephen Smith, DC

- Thursday, October 18, 2018

In this episode, Dr J interviews Dr Stephen Smith, who was a highly successful chiropractor for 34 years in California before retiring from the profession as a relatively young man. A magna cum laude from LACC, Dr Steve was also a management consultant, seminar speaker, lecturer, board of directors member, on top of owning a resort. Listen in as Dr J picks the brain of this highly accomplished entrepreneur.

EPISODE 82 - How Much Practice does it Take to Turn Your Business into a Success?

- Monday, October 15, 2018

Are you practicing enough? Malcolm Gladwell popularized the theory that it takes 10,000 hours of deliberate practice to develop the skills to be excellent at something. Another popular theory from Brian Tracy is that you need to spend 2 hours of concentrated effort a day to be in the top 10 percent. Whichever theory is true, the point is clear. Practice makes perfect. In this episode, Dr J provides his thoughts on the necessity of deliberate practice to become successful.

EPISODE 81 - Age is Just a Number

- Thursday, October 11, 2018

Dr J has been thinking of age a lot lately, as his 40th birthday is fast approaching! After he bought a sports car, it was time to think about where he was in life. At the same time, he was reading Bob Spitz's new biography about Ronald Reagan. It's a great book, not political at all, just his life story. Ronald was a divorced, out-of-work actor at 40, broke and in despair. At 50, he was remarried and after a semi-successful TV show, found himself out of work and broke again. Really, no prospects at the age of 50. Obviously, Ronald Reagan's story has a happy ending, but he didn't become president till age 69. So, when we think we are getting too old, remember, he didn't even start politics till his 50's and is regarded by many to be one of our best presidents. SO, age is just a number after all! Here, Dr J talks about that and more!

EPISODE 80 - Interview with Dr Jerry Kennedy, Black Sheep DC

- Tuesday, October 09, 2018

In this episode, Dr J interviews Dr Jerry Kennedy, also known as the Black Sheep DC. Dr Jerry is a chiropractic coach who believes: "One of the BIG mistakes that chiropractors make is trying to do everything on their own. Trying to sort out chiropractic marketing and business without help is an expensive and time-consuming game that many chiropractors lose." Listen in as Dr J and Dr Jerry talk about ways struggling chiropractors can use simple tips to get their practices moving in the right direction.

EPISODE 79 - Booking Doctor Lunches -- How to do it Right and Boost your Revenue

- Thursday, October 04, 2018

One of the most cost effective and time-honored ways to market your chiropractic practice is to forge relationships with other medical professionals who will become referral partners. You refer patients to them and they refer patients to you. The typical way chiropractors do this is to hold doctor breakfasts, lunches, or dinners to make the connection and deliver a presentation on what they specialize in. But it's a tortuous path to get this process dialed in because literally EVERYONE is doing it. The best teacher, of course, is the school of hard knocks and Dr J was knocked around quite a bit until he perfected his recipe. Listen in as he discusses his techniques that win great referrals from the best doctors.

EPISODE 78 - Interview with Dr Kevin Christie, Content Marketing Expert

- Tuesday, October 02, 2018

Dr Kevin Christie has certainly made a name for himself in Chiropractic. Not only does he treat pro athletes, an extremely competitive specialty, but he also has built an impressive content marketing business that helps promote chiropractic and other types of healthcare practices. In this episode, these 2 great marketing minds share their experiences and thoughts on content marketing and its impact on the overall marketing plan.

Episode 77 - Interview with Dr Rick Boatright, Chiropractic Copywriter

- Thursday, September 27, 2018

In this episode, Dr J interviews Dr Rick Boatwright. Dr Rick has been in practice for 30 years. In addition to running a practice all these years he is actually a certified copywriter. This means he has taken courses and is trained in writing ads, brochures, and other materials. Ultimately, everyone is marketing and selling themselves. Dr Rick not only does that for his own office, but other offices as well! Listen in as he talks about his amazing career in chiropractic and copywriting! Here is his site https://chiropracticcopywriter.com.

Episode 76 - Numbers Never Lie

- Tuesday, September 25, 2018

When it comes to business success, it's all about the numbers. And as long as the numbers weren't fudged, the numbers don't lie. In this episode, Dr J reveals how he can look at 90 days worth of data and determine where the business is suffering, without ever meeting the doctor running the clinic. This is because the numbers reveal the real story behind the successes and/or failures of a practice. Listen in as Dr J expounds upon this line of logical reasoning.

EPISODE 75 - Interview with Sheri Needham from Stoneybrook Publishing

- Thursday, September 20, 2018

How are you staying in touch with your current patients? Do they only think of you when they have a sore back or do you have ways to keep your business/brand at the top of their minds? In this episode, Dr J interviews a long-time provider of his: Sheri Needham from Stoneybrook Publishing. They discuss ways to frequently touch patients using tried and true techniques like monthly newsletters. Best of all, all the content is produced by her company, leaving the business owner free to concentrate on running the business.

EPISODE 74 - Do You Have What it Takes to be a Success as a Chiropractor?

- Tuesday, September 18, 2018

Do a Google search on "how many businesses fail in the first 5 years of business" and you will see estimates from 50% all the way to 90%. The sad fact is, if you open a business, the odds of succeeding are stacked against you. But many do succeed in business and some even manage to make millions from it. So, what's the secret to their success? Was it blind luck? Did they kill themselves working 100+ hours a week? Does it take a brilliant business mind to succeed? In this episode, Dr J dives deep into the recipe that helps startups get past the first couple of knee-knocking years in business and into the sacred realm of entrepreneurial success.

EPISODE 73 - Dr Jeffrey Langmaid, The Evidence-Based Chiropractor

- Wednesday, September 12, 2018

In this episode, Dr J interview Dr Jeffrey Langmaid who is also known as the Evidence-Based Chiropractor. Dr Jeff, delivers a step-by-step process to build referral relationships and get more patients in your practice. As he says, if you're not consistently trying to get referrals from MD's, you're missing out on potentially 5-15 new patient's per month. Listen in as Dr Jeff discusses the tools he uses to deliver more new patients through referrals from colleagues.

EPISODE 72 - Zero Sum Game--The Economics of a Chiropractic Business

- Monday, September 10, 2018

In theory, a zero-sum game is a mathematical representation of a situation in which each participant's gain or loss is exactly balanced by the losses or gains of the other participants. But this doesn't necessarily mean that in every business transaction there is a winner and a loser. Especially when you are talking about healthcare. People who are in pain will gladly hand over cash to a doctor who will make the pain go away. That could be defined as a win-win. In this episode, Dr J delves into the economics of Zero Sum Game and how to look at it with a fresh perspective.

EPISODE 71 - Interview with Adam Witty, Entrepreneur, Publisher, Author, Speaker

- Friday, September 07, 2018

In this episode Dr J gets to interview Adam Witty. Adam is the Founder and Chief Executive Officer of Advantage|ForbesBooks. What began in the spare bedroom of his home is now an international publishing and Authority Marketing® company. Most recently, Advantage has partnered with Forbes to create ForbesBooks, the first book-publishing imprint for the global media company. Advantage|ForbesBooks is a 5-Time Honoree on the prestigious Inc. 500/5000 list of America’s fastest growing private companies in 2012, 2013, 2014, 2016, and 2017, and also named to the Best Places to Work in South Carolina for 2013 and 2014.

He was named to Young Presidents’ Organization 40 Under 40, 50 Most Progressive, and was named to the 2011 Inc. Magazine’s Under 30 List of “America’s Coolest Entrepreneurs.” In 2012, Witty was selected by the Chilean government to judge the prestigious Start-up Chile! entrepreneurship competition.

Listen in as Dr J picks Adam's brain and gives great insight into building a successful business.

EPISODE 70 - Design Your Life Plan and Put Sanity Back into Your Day

- Tuesday, September 04, 2018

This episode can be summed up with a quote from motivational speaker, Jim Rohn. He said, "If you don't design your own life plan, chances are you'll fall into someone else's life plan, and guess what they have planned for you? Not much." In this episode, Dr J talks about developing a life plan how the effort will help ensure you get the most out of your life, business, and pursuit of happiness.

EPISODE 69 - Interview with Darryl Lyons, Retirement & Financial Planning Expert

- Thursday, August 30, 2018

Whether you are struggling to get out of debt or you are saving for retirement, everyone needs a sound financial plan. And if you don't know how to do it yourself, more than likely you're going to seek the advice of a Certified Financial Planner. In this episode, Dr J interviews Darryl W. Lyons, an author, a speaker, a Certified Dave Ramsey SmartVestor Pro, and an all-around smart guy. Darryl and Dr J talk about how to get out of student loan debt, how much to save for retirement, and many more financial matters! If you like money, you need to listen to this episode.

EPISODE 68 - Goals--Learn the Top Goals Tracked by Successful Chiropractors

- Tuesday, August 28, 2018

Whenever you hear the gurus talk about how to become successful, they always talk about goal setting. But it's easier said than done. How do you get started? Which goals should you track? In this podcast, Dr J reveals his top goals and even some top secret data that will blow your mind. If you have your eye on the prize, you won't want to miss this explosive episode.

EPISODE 67 - McOffice Time for Systems--Making Money with Efficiency

- Thursday, August 23, 2018

The criticality of long-term planning, especially long-term financial planning, cannot be emphasized enough by anyone who is successful. Money and long-term prosperity just can't be achieved if you haven't set up a plan...or many plans...to get to your desired place in the future. In this episode, Dr J discusses this a shares a couple stories to really drive home the point.

EPISODE 66 - Next Generation--The Importance of Long-term Planning

- Monday, August 20, 2018

The criticality of long-term planning, especially long-term financial planning, cannot be emphasized enough by anyone who is successful. Money and long-term prosperity just can't be achieved if you haven't set up a plan...or many plans...to get to your desired place in the future. In this episode, Dr J discusses this a shares a couple stories to really drive home the point.

EPISODE 65 - Interview with Dave Klein, my Best Protection Against an Audit

- Thursday, August 16, 2018

The dreaded insurance audit. Such a hassle...and worry. In this episode, Dr J interviews Dave Klein, a certified medical coding and compliance consultant with over 18 years of experience in the field. Listen in as Dr J and Dave delve into the necessity of proper coding and compliance and how using a coding and compliance service helps Dr J avoid worrisome compliance issues.

EPISODE 64 - How Fresh Paint Freshens Enthusiasm at Your Business

- Tuesday, August 14, 2018

Have you ever noticed how a fresh coat of paint can really brighten up a room? Or how it can transform a boring room into something really mood altering? So, if you recall how that fresh coat of paint resonated with you, imagine how it can resonate with your staff and customers, especially if your office hasn't changed in years. In this episode, Dr J reflects on how just adding a coat of paint or changing the carpet or any other number of simple aesthetic changes really had a positive impact on his practice over the years.

EPISODE 63 - Interview with Tristan Schaub Mr ChiroSushi Himself

- Thursday, August 09, 2018

In this podcast, Dr J interviews Tristan Schaub who founded ChiroSushi with his father, a chiropractor. While Tristan is not a chiropractor, he has quickly made a name for himself in the chiropractic community by organizing the annual ChiroSushi Chiropractic Summit, which is always packed with great speakers and expert presenters. Listen in we hear about Tristan's journey and how ChiroSushi is helping chiropractors around the world.

EPISODE 62 - Client Retention - Are You Doing Doing Enough to Maintain Your Herd?

- Monday, August 06, 2018

Many business owners are so focused on getting new business that they forget about the most important part of business revenue--their existing clients and customers. It has been estimated that it can cost up to 8-10 times more to get new customers than it does to keep your current ones. So, what can you do to ensure your existing clients continue to contribute to your bottom line? Tune in to learn some great tips on client retention.

EPISODE 61 - Interview with Dr Peter Lind, DC, Inventor

- Friday, August 03, 2018

Today's episode is very fascinating as Dr J interviews Dr Peter Lind, a chiropractor who is about to celebrate his 30th year in practice. Dr Lind is also an inventor and he is going to talk about a new kind of exercise machine that is going to hit the market soon that will absolutely blow you away. Listen in as they discuss Dr Lind's journey and his new technology.

EPISODE 60 - The Best Times of the Year to Vacation

- Tuesday, July 31, 2018

It has been estimated that it can take 12 weeks to recover from 1 week of vacation, revenue-wise. So, is taking a vacation really worth it? Well, of course you need to take vacations so you can unwind and destress, but you don't necessarily need to pay a heavy business tax doing it. A properly planned vacation can be just what you hope it is without the pain of a huge backlog or empty chiropractic tables when you return. In this episode, Dr J breaks it down to a simple planning exercise. This a very timely podcast!

EPISODE 59 - Who's Your Competition? Ideas to Improve your Business

- Wednesday, July 25, 2018

Unless you are one of the lucky few business owners who has absolutely no competition, you need to be constantly aware of who your competition is. It doesn't matter whether it's a brick-and-mortar business, a virtual business, or something totally different, you need to be concerned about who could be taking customers away from you. In this episode, Dr J explores the various ways competition affects businesses of all types and he gives great advice on what you can do to mitigate increased competition in your market.

EPISODE 58 - Interview with Nick Loise, President, No BS Inner Circle

- Tuesday, July 24, 2018

In this absolutely fascinating episode, Dr J interviews the President of No B.S. Inner Circle, formerly GKIC, Nick Loise. Get to know the man running this powerful marketing organization and pick up some great tips along the way. The rapport between these 2 powerful business leaders is really fun to listen to.

EPISODE 56 - Getting More Reviews and Improving your Online Reputation

- Tuesday, July 17, 2018

Your business is finally off to a nice gallop. You endured the tough years and now, thanks to good business practices and excellent service, the future is bright. Suddenly, a spate of bad reviews turn your online reputation on its head and now, the phone has stopped ringing and foot traffic is at a crawl. In this episode, Dr J talks about how to get a ton of great reviews and will bury anything negative that sits out there on Google, Yelp, and other places.

EPISODE 55 - Interview with Randy Owens, Business Profit Specialist

- Wednesday, July 11, 2018

Congratulations! You increased your revenues last year. But, did you increased your profitability? Many businesses have figured out how to increase revenue but they soon find out that the cost of growth actually DECREASED their profitability! That means they probably worked harder for less money. In this episode, Dr J interviews Randy Owens, a profit specialist who explains how to make a more profitable business.

EPISODE 54 - Man Who Chases Two Rabbits Catches None

- Monday, July 09, 2018

A common problem with serial entrepreneurs is that their burning desire for building successful businesses causes a loss of focus on the primary source of income and eventually, none of the businesses succeed. In this episode, Dr J reflects on his experiences with running multiple businesses and how he always ensures his primary source of income, his practice, is getting the most of his attention. The same thought process can be applied to chiropractors who want to add too many services without focusing on the primary chiropractic services. Helpful tips abound in this episode.

EPISODE 53 - Interview with Dr David Graber, a Chiropractor's Chiropractor

- Thursday, July 05, 2018

In this episode, Dr J catches up with his good friend, Dr David Graber, whom he calls a Chiropractor's Chiropractor. Listen in as they talk about the industry and what it takes to become one of the top docs in the field.

EPISODE 52 - Dog Days Of Summer--Marketing Strategies Through the Seasons

- Wednesday, July 04, 2018

Summer. It's the season of fireworks, swimming pools, outdoor adventures, and family vacations. Many businesses see a significant slowdown during this time of year and chiropractic is no exception. In this episode, Dr J reveals marketing strategies that have helped keep the cash register ringing no matter what month of the year it is.

EPISODE 51 - Interview with Dr Donald Defabio, Chiropractic Expert

- Thursday, June 28, 2018

In this episode, Dr J interviews longtime friend and a real expert in the Chiropractic field, Dr Donald Defabio. Listen in as they discuss the Chiropractic industry, where it's at and where it's heading.

EPISODE 50 - Financial Tips for your Practice - How to Quit Drowning in Debt

- Wednesday, June 27, 2018

Dr J often tells the story about how much debt he was in during his early years in business. Maxed out credit cards, student loans, and even the IRS threatening him. With pressure mounting to create a financially viable business, he had to do something to start making money and quit debt spending. In this episode, Dr J reveals some of the key fiscal strategies he employed to keep from completely drowning in financial misery and eventually surface to become totally debt free in business. This is one you DO NOT want to miss!

EPISODE 49 - Scarcity - How You Can Use it in Business

- Thursday, June 21, 2018

It's universally accepted that the rarest things in life are the most sought after and most expensive. For example, a bottle of 23-year-old Pappy Van Winkle bourbon retails for about $250 but it is so rare and hard to find, collectors will pay $3,000 for a single bottle. So how can you use scarcity in your business to elevate your game and make you highly sought after? Listen in as Dr J shares his thoughts.

EPISODE 48 - Interview with Nina Hershberger, CEO Megabucks Marketing Inc

- Tuesday, June 19, 2018

In this episode, Dr J raps it up with the CEO of Megabucks Marketing Inc, Nina Hershberger. She is pretty well known in the marketing world and has several pearls of wisdom to share along with Dr J himself.

EPISODE 46 - Interview with Dr Lee Newman, Chiropractic Coach

- Wednesday, June 13, 2018

Dr Lee Newman was an early mentor of Dr Fedich and coach. Dr Newman is a second generation chiropractor and grew his practice into one of the largest practices in Pittsburgh PA. He has built 16 successful practices over the years and in this episode, they discuss the keys to building success and wealth in business.

EPISODE 47 - Get it Done--Stop Procrastinating and Avoid Insanity

- Wednesday, June 13, 2018

Procrastination. Analysis paralysis. Failure to act. It happens to all of us, but successful people have learned to make quick decisions and move beyond the urge to hesitate. They have things that need to be done and they do them, day in and day out. In this episode, Dr J inspires listeners to avoid the insanity of indecision and simply...Get it Done!

EPISODE 45 - Define Success in Business and in Life

- Wednesday, June 06, 2018

Are you successful? Are you more or less successful than your peers? What definition or parameter would you even use to make that comparison? Is it money? Time with family? Peer recognition? In this episode, Dr J delves into his thoughts on defining success in business and in life.

EPISODE 44 - Interview with Dr Josh Wagner, Chiropractor, Coach

- Tuesday, June 05, 2018

In this nugget-filled episode, Dr J interviews Dr Josh Wagner who is a chiropractor and chiropractic coach who takes an almost zen-like approach to connecting with chiropractors who want to build a successful practice. He really gets into the psychology of success and the belief that if you work hard enough and you are a good practitioner, you deserve to succeed. This is such a good episode!

EPISODE 43 - A Look Ahead - Thoughts on Extinction and Obsolescence

- Thursday, May 31, 2018

Do you remember Blockbuster? How about PanAm or Eastman Kodak or the Yellow Pages? When is the last time you used a pay phone or a pager or a floppy disk? In this episode, Dr J opines on the critical necessity of continuously looking ahead in the crystal ball and evolving your business and even yourself to prevent obsolescence.

EPISODE 42 - Interview with Billy Sticker, Founder of ChiroCandy

- Tuesday, May 29, 2018

In this episode, Dr J interviews Billy Sticker, the host and founder of ChiroCandy, and fantastic chiropractic marketing podcast. We talk about how Billy got started in Chiropractic marketing but more importantly, there is a rich pay streak of golden nuggets littered throughout this episode, so be sure to listen to the whole show to catch them all.

EPISODE 41 - Seasons--Embracing the Ups and Downs of Seasonality in Life

- Thursday, May 24, 2018

Spring, Summer, Fall, & Winter. Birth, School, Marriage, Kids, & Retirement. Major weather events and beautiful blue skies. There are seasons and seasonality to everything in life, especially in business. In this episode, Dr J reflects on how seasonality affects his business and the clients he supports and ways he mitigates the roller coaster ride to keep the business running effectively no matter what.

EPISODE 40 - Interview w/ Dan Sosnoski, Editor-in-Chief, ChiroEco Magazine

- Monday, May 21, 2018

Dr J has long believed that Chiropractic Economics Magazine is one of the most influential and resourceful periodicals in the chiropractic profession and in this episode, he gets to interview Dan Sosnoski, the Editor-in-Chief. Listen in as they discuss some of the most pertinent issues in the chiropractic profession today.

EPISODE 39 - Old Media Vs New Media - What Really Works?

- Thursday, May 17, 2018

Some businesses like the traditional methods of marketing: TV, radio, billboards, etc. Other businesses have completely tossed the old marketing tools in favor of the new digital methodologies: Google ads, Facebook, email, etc. What really works? How do you measure it? In this episode, Dr J reveals some of his best tips on selecting your best marketing sources.

EPISODE 38 - Interview with Dr John Dimartini, Author, Speaker

- Tuesday, May 15, 2018

In this episode, Dr J gets a chance to catch up with they hugely successful chiropractor, Dr John Dimartini, who founded the Breakthrough Experience program. Dr Dimartini is now a world traveller in high demand for speaking engagements, lectures, and seminars. Listen in as he shares the story of his humble beginnings and how anyone can use the lessons learned to grow their own practice and become successful, too.

EPISODE 37 - Being Amazoned - How David Beats Goliath Every Time

- Thursday, May 10, 2018

Are you taking advantage of every opportunity to maximize your profits? A lot of companies leave money on the table by not selling services that are truly needed. In this episode, Dr J shares a couple vignettes from his life that show companies doing it wrong and ones doing it correctly.

EPISODE 36 - Interview with Dr Jay Morgan, Chiropractor & Business Coach

- Monday, May 07, 2018

Dr J has had a lot of coaches and mentors on the road to his success in the chiropractic profession and Dr Jay Morgan is right at the top of the ones that really made a difference in his professional development. Listen in as 2 old friends discuss the chiropractic profession, how it has changed, and how professional development programs are as important as ever before.

EPISODE 35 - Staff, Space, and Equipment -- What's Your Capacity?

- Wednesday, May 02, 2018

Do you feel like you are trying to stuff a 10-pound sausage into a 5-pound skin? Are you pouring 16 ounces of water into a 12-ounce cup? In business, we are often faced with hard decisions when we have reached our capacity. In this episode, Dr J shares his thoughts and experiences on the tough decisions he made when he reached his max capacity at various times in his practice.

EPISODE 34 - Interview with Dr Noel Lloyd, Founder, 5-Star Management

- Tuesday, May 01, 2018

What happens when life gives you one really rotten lemon? Well, you figure out how to turn it into lemonade, of course. In this episode, Dr J interviews former Chiropractor turned business coach, Dr Noel Lloyd, who was forced to retire as a Chiropractor after a serious neck injury. Listen in as Dr Loyd and Dr J talk about the past, present, and future of the Chiropractic profession.

EPISODE 33 - Interview with Mark Sanna, CEO of Breakthrough Coaching

- Wednesday, April 25, 2018

So your business is up and running but you just don't seem to be making any progress. Either you're not getting enough new patients/customers or you just aren't making any money. What are you doing wrong? Where can you get the answers? In this episode, Dr J interviews Dr Mark Sanna, CEO of Breakthrough Coaching, to talk about the importance of finding and using a business coach to help your business succeed.

EPISODE 32 - Follow Up--The Importance of Staying Top of Mind

- Monday, April 23, 2018

Fresh off the birth of his new baby boy, Dr J was inspired by the importance of following up with one's business prospects. Please listen in as he shares his thoughts through a couple different vignettes of his experiences with following up by others during this wonderfully emotional but tumultuous time.

EPISODE 31 - Becoming Relentless in Self Improvement, Business, and Life

- Wednesday, April 18, 2018

Dr J has talked about the importance of persistence and establishing good routines in past episodes. This episode is all about being relentless in your habits and processes, and the grim determination it takes to make them happen in spite of life's daily distractions.

EPISODE 30 - Interview with Chris Widener, co-host of How to Be a Real man

- Monday, April 16, 2018

In the episode, Dr J chats it up with his friend and mentor Chris Widener, co-host of How to Be a Real man podcast. They reflect on personal stories from Jim Rohn, Zig Ziglar, and Chris's current gig with author Larry Winget.

EPISODE 29 - Interview with Dr Matthew Loop, Social Media Expert & Author

- Thursday, April 12, 2018

Social Media Marketing. Facebook Advertising. Video. Google Ads. It's something most businesses believe they should be involved in, but very few know how to do it effectively and achieve a good ROI. In this episode, Dr J interviews chiropractor, author, and social media marketing consultant Dr Matthew Loop and discusses the latest trends in marketing; plus, what's working and changing in Facebook Advertising in light of all the negative press Facebook has received lately.

EPISODE 28 - Time vs Money--How to Balance your Business Approach

- Tuesday, April 10, 2018

When you are new in business, you seem to have more time but not enough money. And when you finally have a successful business, you have more money but not enough time. In this episode, Dr J reflects on time vs money and how to strike the right balance as your business grows.

EPISODE 27 - You Are Being Sued - Lessons Learned from Bogus Claim

- Wednesday, April 04, 2018

In this episode, Dr J recounts a recent story in which a "fired" patient decided to lash back with a bogus lawsuit; that on top of two other personnel challenges that all happened around the same time. He reflects on the necessity to keep a positive attitude when faced with seemingly insurmountable obstacles. He concludes with all the lessons he learned throughout the ordeal.

EPISODE 26 - Interview with Dr Tony Palermo, Chiropractor, Business Coach

- Tuesday, April 03, 2018

In this episode, Dr J interviews his friend, business coach, and mentor Dr Tony Palermo, the coach for business coaches. Join them as they discuss the path to success and the best practices everyone in business should know.

EPISODE 25 - Price Vs Value - Thinking Beyond the Cost

- Friday, March 30, 2018

We all do it. We see the price for a product or service and balk because we don't see the value. But if you think you need it, that's precisely when critical thinking skills should be employed to analyze the potential return on investment. If a product or service returns 10 times what you paid for it, it was a good buy, right? In this episode, Dr J discusses his thoughts on price vs value.

EPISODE 24 - Interview with Johnny Beltran, Navy SEAL and Disabled Vet

- Monday, March 26, 2018

Interview with Johnny Beltran, Navy SEAL, Disabled Vet, Business Owner In this episode, Dr J interviews Johnny Beltran, a former Navy SEAL. Join them they discuss Johnny's life as a Navy SEAL, the devastating injury in combat that nearly cost him his leg, his rehab and return to active duty, and his life as he moved on to building a business with his brother.

EPISODE 23 - Internal vs External Marketing - Maximize Both for Max Profits

- Wednesday, March 21, 2018

What is the difference between Internal and External Marketing? In this episode, Dr J explains how he uses myriad internal and external marketing techniques to stay fresh and relevant in the eyes of his customers, while attracting new ones or ones who've gone dormant to ensure maximum profitability and continued growth.

EPISODE 22 - It's No Secret - Interview with Dr Tyson Franklin, Podiatrist

- Monday, March 19, 2018

It's No Secret - Interview with Dr Tyson Franklin, Podiatrist, Author, Speaker It's always great to hear 2 successful docs share their stories and keys to success. In this episode, Dr J gets to chat it up with renowned business coach, Dr Tyson Franklin, who is a well-known podiatrist, author, and speaker. This one you won't want to miss.

EPISODE 21 - Interview with Dr Ed Osburn, the Chiropractic Philanthropist

- Tuesday, March 13, 2018

In this episode, Dr J gets a one-on-one interview with the Chiropractic Philanthropist himself, Dr Ed Osburn. Listen in to hear about Dr Ed's journey and a lively discussion about how these 2 great chiropractic minds worked through their early struggles to build successful businesses.

EPISODE 20 - Producer Vs Consumer - Why You Should Produce More

- Monday, March 12, 2018

All of us are consumers. We consume food, TV, radio, books, newspapers...we're always consuming. But what do we produce and why is producing important? In this episode, Dr J talks about why it's important to think about what you can produce to benefit others and even yourself.

EPISODE 19 - Routines - Good Ones, Bad Ones, and Mixing Them Up

- Thursday, March 08, 2018

Everybody has routines. You have your morning routines, work routines, evening routines...they are a part of everyday life. Some routines, however, can simply be bad habits or processes that don't help in your everyday life. In this episode, Dr J talks about how introducing some change to your routines can help you grow.

EPISODE 18 - Do Your Job--But is Doing Your Job Enough?

- Monday, March 05, 2018

Participation awards, public recognition for doing what you are paid to do, and any other accolades people get for just doing their job is the subject of this podcast. Dr J makes his case for going above and beyond in all that you do.

EPISODE 17 - I Quit! Finish the Game or Flee the Stadium?

- Tuesday, February 27, 2018

A football team is getting crushed 52-0 in the first half. Should they leave the stadium? You're in a job you hate but he benefits are good. Should you stay in the Job? In this episode, Dr J discusses his thoughts on quitting.

EPISODE 16 - If You're not Touching People, You're Losing Touch

- Thursday, February 22, 2018

Many successful business coaches have long since left their original businesses behind to focus solely on their coaching career. My philosophy is different. If I lose touch with my chiropractic business and patients, it's too easy to lose sight of what made me successful in the first place. That's why I still see patients every day while coaching doctors who need help the most.

EPISODE 15 - Work-Life Balance - Moving the Fulcrum For Success in Both

- Tuesday, February 20, 2018

It's an entrepreneurial paradox. If you work hard enough on the business, the business may succeed but the long hours could cause your relationship at home to fail. But if you put in more hours at home and not enough at the business, the business could fail. How do you strike the right balance? Listen to Dr J's thoughts in this episode.

EPISODE 14 - Kaizen - Continuous Improvement in Life and Business

- Thursday, February 15, 2018

If you don't continually improve and maintain your house, it will surely crumble into ruin someday. The same goes for your body, mind, and business. This episode is dedicated to promoting the Japanese art of Kaizen, or continuous improvement, to ensure wellness in all things that are important in life.

EPISODE 13 - Consistency--How to Win at Almost Anything

- Tuesday, February 13, 2018

Do you have trouble following through on your business plan? Was your New Year's resolution dead on arrival? Do the leaves on your marketing tree fall off before Spring comes? If so, find inspiration in this podcast to be more consistent in your approach to business and life.

EPISODE 12 - I Don't Wanna - Avoid the Sinkhole of Complacency

- Wednesday, February 07, 2018

Patients not following doctor advice, people not following through on their New Year's resolutions, and business owners not heeding their business/marketing plan. This episode seeks to encourage business owners to push beyond their innate complacencies and establish good habits that will improve their lives and improve the bottom line.


Speaker 1:

Hello, and welcome to Dr. J's Path to Success podcast. Dr. James Fedich is a successful practice owner, best-selling author, and speaker. Listen in as he shares his secrets to a successful business and a successful life. So now, here's Dr. J.

James Fedich:

Hello, everybody. Welcome to this podcast. This episode is entitled "I Don't Wanna." So, why are we gonna title this? So, I was kind of planning this episode out a little bit, and I get these ideas and try to hash them out a little bit before I just go on here. I was trying to hash out this episode of "I Don't Want To". It's something you hear an awful lot. I got a three-year- old at home, so of course you're gonna hear that. But kinda talking it more into a business context. Then I had something happen the other day in the office, a patient's story, and it brought this podcast to a head here.

Here's the basic story. A patient, she's been a patient a long time, in her 50s, pretty regular patient, takes pretty good care of herself. About a year ago, her daughter's got really just horrible severe migraines. I forgot if she'd seen somebody else first or me. I forget really how it went. It was over a year ago. Long story short, I believe we sent her for blood work and she had Lyme's Disease come back, and it was really the cause of her headaches and went to see some specialist. She came in a couple times, didn't really follow through with the chiropractic care, and saw some specialist in this kind of stuff, I think a neurologist and did some protocol for this.

Basically the doctor did blood work and all that stuff, put her on some medications, but was actually a holistic type of doctor as well and had her on some supplement program. It was basically here's the supplements, it was flaxseed oil, couple other things. And the medication, of course, antibiotics and stuff and he had this whole protocol specialist. He was a little more holistic. So pretty good deal.

She stopped following it with me. I've seen the mom over the years on and off and she just came in the other day for a routine visit and was telling me all about the daughter. Said she had a follow up with this doctor. She said he was some sort of holistic neurologist, which was given to her as protocol. But basically the daughter is complaining of headaches a year later. Neurologist sits her down and kind of going through, you haven't been following the protocol, what are you doing? And it basically comes out that she never followed the protocol. Over the years she's never taken the supplements and she didn't take the medications, the supplements, just didn't basically do anything this doctor told her.

So obviously that's not good. The doctor was not happy and the mom basically said, she's in the room with her cause the girl's a little irresponsible, as you'll probably figure, and the mom was in the room and was telling me in my office that basically this neurologist doctor was basically yelling at the mother for a while. Why is she not following this protocol? She can't seem to get better. She won't get better. She's complaining she's still not better but she's not following the protocol.

And basically all the 22 year old had to say at the end of it was, "Well I don't want to take these supplements. I don't want to take the flaxseed oil. It doesn't taste good." He had her on a liquid flaxseed. "And I don't want to, it doesn't taste good." And all this kind of stuff. So she wasn't getting better and the mom's in here all frustrated and she says, "She's 22, I can't tell her what to do." And we end up having this couple minute conversation that she has an older daughter and she said she's never like that. I don't understand this generation, her age, they think that they can just not do anything they don't want to do.

And where this all comes from. And I do feel there's a generational issue there, this kind of millennial issue where they just feel like if they don't want to do things, they don't have to. But me and the mother just got into a conversation now most things that you do as an adult are things you don't want to do. I don't want to pay taxes, I don't want to take out the garbage, I don't mow the lawn, but people don't want to do that, you don't want to clean up. I mean you're doing things you mostly don't want to do in life. And it's maybe a little thing that's avoiding these millennials. They just haven't figured out that a lot of life is doing things you don't want to do.

See I kind I get it when my three year old toddler says I don't want to do this, I don't want to do that. They don't have that kind of mental capacity, but by 22 you should kind of have that capacity where you gotta realize some days you gotta do things you don't want to do. I mean I don't really want to go to the gym every day. But it's something you gotta do for your health and your body to go every day. So there's a disconnect there with this millennial generation. I don't want to pick on a generation, it's certainly not just them, but I also see that in business as well. And that's where we want to transition this podcast that we'll kind of see that in the business end of it too. So think about my three year old or this 22 year old girl, I don't wanna take my medication supplements to get better from Lyme's disease, kind of seems crazy. Probably every body listening here is like why didn't this girl just take the stuff and get better? Right? It's kind of obvious to most of us.

But this transitions to a business conversation, is when I'm doing coaching with me clients, I hear this conversation all the time. I tell [inaudible 00:04:23] appreciation days for a long, long time and he just doesn't want to do them. I don't want to do it and he's not gonna do them and there's that. So that kind of stuff happens in business all the time though. I don't want to go to a screening, I don't want to go to lecture, I don't wanna. I did spinal screenings and health fairs every weekend for the first five years in practice and I certainly didn't want to ever do that. But that's the things you gotta do.

So in business a lot of this necessity you're looking for is doing the things that you don't want to do. And that's a big secret there for you. So the things you really avoid doing that you don't want to do and that's how you're gonna be successful, is getting those things done that you don't want to do. You don't want to do the marketing, I don't want to do staff reviews every six months, I don't want to do a staff meeting every week. That's a big one. And I even said that when I was first in practice. I didn't want to go and have a staff meeting every single week. And implementing a mandatory staff meeting every week is really expanding and growing the business. I mean it's not the first thing I want to do with myself is sit with my staff for an hour every week, but it's something that needs to be done to grow the business.

So you think of that, your bratty three year old or this 22 year old girl, I don't want to take my medication or your kid, I don't want to eat this, I don't want to do that. You don't all understand that have children out there, but you're doing the same thing in your business. You see a three year old and this 22 year old and you say that's silly you should just do it. But you're doing the same thing in your business. So what do you avoid doing in your business? It's the hard things, the things you don't want to do that are gonna help you grow the most. That's a big business secret. It's the thing you're avoiding, the thing you don't want to do. And all the stuff, really, most of the important stuff is stuff you don't want to do.

If you're a physical therapist, chiropractor, we all love treating patients, we don't want to do the marketing, we don't want to do the business end of it, we don't want to do the staff management. That's the stuff that's gonna help you grow the practice and that's most of my providers that I coach, when I'm doing chiropractic Bts, they love treating the patients. And you don't have to ask them to go to a technique seminar, learn more stretching, or whatever. Treating patients is what they love doing and you don't even have to ask them to do that. But getting them to do the events, the open houses, learn marketing, read a marketing book, go to a business seminar, listen to a podcast like this, do the business end of it, that's the stuff that's a struggle for them.

So think about you and your life and what you are being a three year old toddler or this 22 year old patient that you're just not following or don't want to do something that's really, think of this 22 year old girl, that's why I wanted to bring up this example, she's suffering with horrible migraines for a year and having uncontrolled Lyme's disease and doing all kinds of damage to her body, who knows what else is going on in there because she doesn't want to take the supplements and the vitamins. So think about how silly that is. But you're doing the same thing in your business. I guarantee there's something in you're business you don't want to do that needs to be done for your business to grow. Whether it's doing the marketing, whether it's doing staff meetings, doing staff trainings, discipline, getting rid of a staff, hiring more staff, expanding, doing something you don't want to do in the business is holding you back.

So find about something that you're doing that's holding you back right now. There's something you don't want to do that's holding you back. I'm going to a health fair on Saturdays, there's a lot of different examples. I'm also amazed when I interview people, that's why I do say maybe there's this little bit of millennial thing, they have it worse than some of the other generations. But we're open nine to seven every day and we stagger shifts and all that, but a lot of people work til seven every night. It's not till nine o'clock every night, we don't do weekends. But there's a lot of seven o'clock nights and if you're a new employee, for especially non-clinical, you're gonna be here at seven more nights than not. We take turns, but it's gonna be four nights a week or something like that. And I'll go to interview people, they can't find a job, looking for a job for six months, and I'll say, "You're hours will be ten to seven or something like that." "I don't really want to work til seven, can I work til five or six?" And it's just amazing to me, these people are looking for jobs and here I get 100 resumes for this position and they say, "Well I don't want to work those hours. I don't want to work til seven." And meanwhile they can't find a job.

I just interviewed a young lady who said basically the same thing. I said, "There's no weekends, but we do appreciation day twice a year. It's a Saturday, it's ten to one, it's mandatory. All hands on deck. Every doctor, PT, everybody's gotta be there in my office. We do a big event, which we'll do a show on. But everyone's gotta be there. It's really no excuses, we give you a lot of notice ahead of time. It's only two Saturdays and it's four hours of work, where a lot of clinics that do what we do are open Saturdays. So we just ask you come in twice a year." And everybody knows that when you hire them and we talk about the staff meeting, we're just planning our next one actually. And it's everybody's gotta be there. Too bad you got, you just gotta clear your calendar. It's only two days a year I ask you to do that. It's a big event for the office and the staff kind of get it.

So I'm interviewing this young lady who doesn't have a job and first thing, I tell it's til Saturday, or tell her about the Saturdays, she said, "Well you know I really don't want to do Saturdays, can I just not do that?" And then also the seven o'clock thing she said, "I can't do most nights, but I can't do Friday til seven. Can I leave like let's say four?" So she's asking to leave early on Fridays and never work the Saturday big events. And obviously we didn't call her back for another interview, but just that kind of whole attitude, I don't wanna.

So when I think about this 22 year old patient girl I was telling you about, still suffering from Lyme's disease, headaches, and she doesn't want to take a couple pills and a tablespoon of flaxseed, as far as I understand the protocol, there's a couple pills and some flax seed every day. And she doesn't want to do that and is suffering with horrible migraines and all kind of other illnesses for over year cause she doesn't want to take simple regimen. So what in your business do you not want to do that you need to get done to grow? And it's the hard things that you're gonna do that make the difference.

There's that one quote I just posted on Facebook the other day, everything you want is on the other side of fear. It's that one thing that you fear or don't want to do that's really gonna make the biggest difference in your life and your practice. I said one thing for us to do in a weekly staff meeting. I mean I always fought those, other people told me to do them and for years I really just didn't want to do it. Now it's even harder, you see a busy practice, we don't shut down, we're nine to seven. Staff are there by eight every day. It's busy all day. I mean there's three chiros, two PTs, acupuncture, nutrition, the medical [inaudible 00:09:58]. There's stuff going on all day. It's non-stop patients coming in. We shut the place down for an hour and a half on Tuesday, there's no other time. Nine to seven, we go all day. There's no breaks, there's no shut down for lunch for two hours, it just goes all day.

And we stagger shifts, all that kind of jazz, but it's swamped all day every day. But Tuesdays we shut the whole place down for an hour and a half to get in our hour staff meeting. And you gotta shut it down for an hour and a half to get in a 45 minutes meeting by the time everybody gets cleared out and all that kind of jazz and then they start showing up on the other end. But it's not easy to do that, it's harder to do it now than it was back then when we were a smaller office, you got these big long lunches and these gaps in the day. Now we're booked all day, people want those slots, but we shut it down for an hour and a half to do the staff meetings.

Not something I want to do. You're turning down business during that time and I don't necessarily want to sit there for an hour and a half and do, I do that, but that's what you gotta do to grow. And it's doing some of these events, going to these seminars. I've traveled to seminars all over the world to learn some of this business advice that we're giving you. I didn't want to get up at 4:30 in the morning and write my book before my family woke up for two hours every day to get it done. But I got stuff to do at the business, I got practice stuff to do, I wanted to get the book done for you guys. I got up early for months and months and months and wrote that years ago. Where I just got up hours early and got up early and wrote books for two hours every morning for month and months until that got done. I mean not necessarily what I want to do but I wanted to get the book out there for you guys, help practice tips and building tips for your business. And that was how to get it done. It's not something I wanted to do but it was obviously a good thing for me personally and for my businesses. And it's been a good choice.

So just think about that, what are you not doing? What do you say you don't want to do? What's that thing you're avoiding doing? So there's something in your business or even in your personal life that you don't want to, getting up early is a good example. We did an episode on that. I don't want to get up earlier. That can change your life, getting up earlier.

I don't want to go to the gym every day, I don't want to take vitamins. I take 20 supplements a day and that's not really something most people want to do, but you want to live longer, be healthier, be fit, and have energy and all that kind of jazz.

So think of something you're saying that you don't want to do in you're personal life. Let's pick something in your personal life and your business life. There's definitely something in your business you're avoiding doing cause you don't want to do it. Whether that's doing the marketing, learning the marketing, doing the management, there's something you're avoiding doing in your business that you need to do to help it grow. And in your personal life I'm gonna challenge you as well. I mean something like date night, last night I take me three year old, she's almost three year old daughter out on a date night every Tuesday since she was six months old. We go out, just the two of us for dinner, and I've been doing that. And it certainly wasn't easy in the beginning, but it's something to help mom with your child. Give mom a little break. And it's something important to do.

So there's something in your personal life that you're avoiding, something like that, date night with your wife, your kids. Doing something in your personal life, exercising, taking your supplements, doing something to grow your personal life as well that you maybe are avoiding doing, you don't want to do it. And it's something that can help change your life.

So why don't you think of something in your business life and your personal life that you're avoiding doing, that you don't want to do it, and get it done, and grow your practice, grow your business, grow your life by doing the things you don't want to do. And that's really what success is, that's why I feel, it can be interesting with this generation thinking they don't have to do anything they don't want to do. That's why I had this long conversation with this mother. I don't get it, it's always like this, she doesn't want to do something she won't do it.

And that's really where success lies. You won't be too successful if you don't want to do things and you just don't do them. The most of life is things you don't want to do. And certainly the big things are things that you don't want to do that are really gonna help you grow your life. So it'll be interesting to see. Ask some of those people if they can get over that. But a lot of life is doing things you don't want to do. But real success in business and personal life is doing things you don't want to do and getting over that hurdle is going to help you grow tremendously.

So, again, look at your personal life and your business life, what are the things you're avoiding doing? You don't want to do it? And get that thing done. Whether it's going to the gym every day, setting your alarm clock an hour early, get up, go to the gym. Doing the marketing, reading a marketing book, going to screenings, doing seminars, all that kind of stuff. What are you avoiding doing that you don't don't want to do that's gonna help you grow?

So I want you to find something again, in your business life, in your personal life, what are you avoiding doing? Get it done and start growing your business, your practice, your personal life and get things going. So I hope this episode helped you out. Make sure to rate us on iTunes, check out the new version of the book has come out now. We updated the book a little bit, for it's about three or four years from the original edition. Secrets of a Million Dollar Practicce is now available on Kindle and Amazon store and as I said it's slightly updated. We re- edited it and added some more content in there. And if you don't have the book, go ahead and get a copy, and leave us reviews. Thanks for tuning in, have a great day.

Speaker 1:

Thanks for listening to Dr. J's Path to Success podcast. Make sure to subscribe on iTunes and leave us a review. For information, please visit doctorjamesfedish.com. Doctor James R. Fedich, Clinic Director at Village Family Clinic. His book, Secrets of a Million Dollar Clinic is available on Amazon and online at [inaudible 00:14:26]familyclinic.com. Or drjamesfedich.com. Www.drjamesfedich.com.

EPISODE 11 - Weed Your Garden - How and When to Fire a Client

- Monday, February 05, 2018

Just as you pull weeds from a garden, so must you weed out bad clients, patients, and customers when they start to affect your bottom line. In this episode, Dr J talks about recognizing when it's necessary and how to do it.

EPISODE 10 - Pay Yourself First

- Wednesday, January 31, 2018

Ask any small business owner and they will tell you the same story. They didn't garner a paycheck for 1, 2, even 5 years in business. Is that a good strategy? In this episode, Dr J reveals how he eventually broke the mistake of paying everyone but himself, which allowed him to move his business forward.


Speaker 1:

Hello, and welcome to Dr. J's Path to Success Podcast. Dr. James Fedich is a successful practice owner, best selling author, an speaker. Listen in as he shares his secrets to a successful business and a successful life. So now, here's Dr. J!

James Fedich:

Hello everybody. Welcome to this episode of the podcast. This episode we're talking about paying yourself first. So here's another one of these things that I remember hearing a whole bunch of times and took many years to really understand it, comprehend it, and I'm going to try to get you to that point a little quicker today.

So the first time I remember hearing this pay yourself first, one of my first and earliest mentors, Dr. James Santiago, great chiropractor in Newark. And as a side note, I've been very blessed to have great mentors, really right out of school up until this day. Currently I have three coaches now, I've had great mentors that really got me to where I've been. And that's really one of the reasons why I do this podcast, I wrote the book and I do some coaching, is to kind of give back because I really had some great people helping me along the way. And Dr.Santiago is one of the first to really kind of help me.

Some of these lessons he was trying to teach me at 26 right at the end of school there, 26, 27, I really wasn't ready to hear or didn't understand at the time. But he was one of the first persons to say, "Pay yourself first." And since then, you've probably read it in a business books, and everybody kind of says it. But I'm not sure most of us understand it. I say it myself probably 8, 10 years later before I really understood really what that meant and how to apply it in my life for success. I wish I'd kind of learned this lesson a lot, lot earlier as I heard it a lot of times, but I just didn't really understand it. Kind of like the harder slow, fire fast other episode we talked about. You know, I heard that a hundred time and probably just the last few years I really understood it being in business for 14, 15 years now.

Pay yourself first, there's kind of two meanings. If you own a business, there's kind of one section of that pay yourself first, the way I see it. And then there's on the personal side. So whether you own a business or a practice, or not, there's definitely implications either way. If you own the business, there's even more, but again, both ways there's kind of two ways I see pay yourself first. I'm certainly no CPA or financial advisor, so don't take that advice that way, but it's just kind of my personal observations.

So, first pay yourself first out of the business end of it. Most of my listeners are chiropractors, physical therapist, acupuncturists, you own professional practices. And pay yourself first. So I remember hearing that and for years, I really didn't understand. So the bills, you know, money comes into the practice and the business checking account, goes out to pay bills and kind of, most of us, at the end of the month, if there's something left over, we write ourselves a checks. That's how a lot of practice owners work. But what'll happen really is that the bills and the expenses are going to match that income. So it doesn't matter how much gross income you start bringing in $10,000 a month, $20,000 a month, seem like you can pay all the bills. And now our bills are $100,000 a month in the practice. So the bills are going to meet up with those income. And if you don't get money out of there, the expenses are just going to gobble it all up, whether you're doing $10,00 a month, $100,000, or $1,000,000 a month. Your bills are going to eat it all up. You've got to get the money out of there.

So what does that really mean? There's tax and legal implications of this, but basically ... I'm an LLC for the practice and I paid myself like basically a draw, where you just kind of write yourself a check and you do quarterly estimates. And I found a lot of my coaching clients, doctors, do that as well. State rules vary, you got to talk to your accountant, et cetera. But basically what I did to start paying myself first out of the business, you've got to get that money out of the business. So the point of the business isn't for the business to make money. The point of the business is to give you money, get money out of there. That's the only point to being in business. It's great to give jobs and all that other fun stuff, but the point of that business is to get money out of there into your personal account. So the game that I ... the way I see it, when you put this all together, the money comes into the business, you want to get as much money of that out of there, into your personal accounts as possible. And then we'll talk, in a minute about getting it out of your personal account into your investment account, as well.

So, but anyways. Step one, we're going to get it out of the business account. You want to get as much money out of there as soon as possible. What I did was actually switch the way we file with the tax returns, from just a regular LLC to now we file as an S-corp or a pass through corporation. And again, I'm not going to be your accountant or your legal advisor, et cetera. You need to definitely talk to your accountant for this, but basically there's some advantages of that. Big advantages I saw, pass through income, and mainly I can put myself on a payroll. So here's the million dollar lesson I learned for many years. I just wrote draw checks and I tried to do automatic transfers regularly and all that stuff. It's just so easy to skip your check. But basically what I did is I put myself on payroll, like the whole staff and every two weeks we do payroll. And I'm there with a set dollar amount that comes out. There's other strategies I take money out other ways that we won't get into here. But I'm on payroll just like everybody else. And there's a bunch of us that are salaried and then there's my hourly employees. So I do payroll every two weeks to pay them all up.

And the five of us ... whatever, eight of us are on salary, go out automatically, direct deposit and the eight hourly employees work this many hours each and she does the payroll. And what this did is make me pay myself every two weeks. And I didn't really feel in the business all that different. Before you'd skip a week, you'd skip another week. Instead of every week, you're paying yourself every two or three weeks. You skip too many weeks. But when you're doing payroll for the whole staff and team, you're on that list of people, it actually takes more effort to take you off the payroll, so you got an email, I'm going to skip a payroll this week. And you can always do that when things are tough, but every since I did this ... before, you're skipping checks all the time, "oh, it's a slow week" or collections, I got to pay this or something would come up and you skip it. When you're on payroll, I don't know if I've done that maybe once or twice in five, six years I've been doing that. You just get used to it and you just take that money out every two weeks.

So, that's a big tip to get yourself on a regular pay period. When you write yourself your own check, which a lot of you guys do, it's just really easy to skip it. Put yourself on payroll. The other nice thing with that, I went from quarterly taxes to taking them out every two weeks with your paycheck. So those of you guys that have read the book, is the [inaudible 00:05:25] growing quickly, when I found out those estimates that you do ... if you owed $40,000 in taxes last year, you pay $10,000 four times, quarterlys, but your practice went up 40% this year. So instead of owning $40, you owed $70, that's just raw numbers. At the end of the year, you got to come up with another $30,000. And just because you made it, as you guys know, doesn't mean it's sitting in your business checking account, right?

Just because the gross went up, doesn't mean the net went up. So I really got off that rollercoaster. It's stressful. There's quarterlys and those last minute payments. So I put myself on the payroll and then what I do, is I over deduct. So I make sure they take out extra on top of what normal payroll deductions would be, because you're the business owner and there's other ... it gets complicated. There's other stuff going on. So they take out what you normally would for payroll person making x dollars and then some. And basically, I end up doing pretty good. I kind of planned that out with the accountant, how much to overtake and we look at it as we're growing throughout the year, et cetera. And you got to think, maybe a little short, maybe a little long ... I think one year, they owned me five, I owed them 5. It kind of keeps it a little more tight, instead of owing 20. And you can kind of look at it throughout the year and see where you're at. But it just takes it out every two weeks, instead of coming up with these big estimates. Now, I'm ... our volume, we're looking at a quarterly estimate of $40, $50,000 every quarter. I mean, it's just much easier to take out a couple thousand every paycheck when you come up with $40,000 every quarter. So, that's more advanced stuff. You definitely need to talk to your accountant. You may have to talk to your lawyer.

Basically if you do that LLC, you can file a form with the IRS to just change the ... keep it as an LLC, but you file as an S-Corp, it's a simple one page form your accountant can help you out with. I was talking to another business owner about this. What you'll notice, you start taking a lot more money out of the business if you do that. And it's really easy, too, if you're growing a little bit or you're just feeling that you can just up your salary a little bit a couple hundred dollars every two weeks, that adds up and it's just another way to keep drawing more money out of the business. So that's what they mean by paying yourself first. Most of us are paying yourself last. You say at the end of the month you pay all the bills, you pay all the staff, your employees, the rent, the this, the that, and you forget to pay yourself.

I'm obviously the largest payroll and every two weeks, it's coming out of there. I'm first out. If I'm getting it out, my tax point is going right over to the government and I'm getting the rest right away and it's coming out of the business first. So that's what pay yourself first means to me. There's other strategies to get money out of there and this could get very complicated. But that would just be the real simple thing to get the money out of there. You don't necessarily need to put yourself on payroll and change the filing like I just said, but there's a lot if you're an LLC, you can't just put yourself on payroll, you got to change the filing status. That's what we had to do in New Jersey. But again, not a CPA or a tax advisor or anything like that. Those are just kind of what works for me, your accountant can talk you through this as well.

You can do it other ways. Maybe you're writing yourself a check every week and you can do it that way or you can do auto draft, too. You can do ... I actually do that as well. So I do both strategies where I have the payroll and I also have auto draft, every week there's a certain amount that comes out from the company checking account into my personal checking account as a draw. And that's ... again, we don't want to get too complicated for you guys. But you got to get that money out of the business.

People think of business the wrong way. The point of any business, anywhere, whether it's healthcare, donut store, whatever the heck it is. The object is to get the money out of the business into your personal account. That's the objective of the business. It's not to fund a million jobs and do all this other stuff. And all that stuff is great, we'll talk all about that. But financially, the point of the business is to get money into your personal checking account.

So I want you to think of the business funneling, as much as you can out of the business into your personal checking account. I just want to pay the bills and run everything, but you'd be surprised how much more you can take out of there. I guarantee just doing these strategies, you don't grow your practice or business, you can just grow your personal income by taking more out. The business will survive. Your expenses will rise up to meet what you leave in there. So if you take it out, you can't spend it in the business. So that's step one. Get it out of the business into your personal.

If you don't have a personal ... a business, that part might not have made a lot of sense to you. The next part will. So really, the big picture you want to look at is the business is to make gross profit, take some of that money out ... or as much as you can out into your personal account and the next step to paying yourself first, is to get it out of the personal account and into your investment account. So really you want to think of this funnel, business money into personal account, personal account into investment account. And that's how you're really going to get wealthy down the road. So it goes from business to personal and the personal you're going to pay for your mortgage, you know, all that kind of stuff that you got to pay, all the bills. And then you want to get money out of there.

So in personal finance people, like Dave Ramsey, who's books are good on this kind of stuff for the most part, by the way. Talk about paying yourself first, so the personal side, what they're talking about is kind of the same deal. Getting that money out of that personal account and into some sort of investment or savings account right away. So that's another objective. So how do we do that? Every two weeks, you're getting paid, I do some other stuff as well. Money's going in there, the bills are going to eat that all up. Whatever you leave in there is going to get eaten up by bills. Just like in the business. It's a lot of the same kind of stuff.

We want to get money out of there. So, like I said, big picture, out of the business to into the personal and you want to get it out of the personal. A lot of people, even if they get step one, business into personal, they leave it in their personal. Or even if you're an income earner, regular employee, whether it's practice or whatever, that money's sitting in the personal account, just sitting there and it's going to get eaten up by expenses. No matter what.

There's people that make $1,000,000 a year and their expenses are $1.2 million a year and they're losing $200,000 a year, right. So it doesn't matter how much you make. You've got to do this. And you can get wealthy following this, no matter what. So out of the business into the personal. Or, just from your paycheck into the personal. You've got to get it out of there next. So how do we do that?

Basically I've tried a lot of different stuff and long story short, I do an automatic transfer out of personal checking into my investment fund. Every month, there's a certain amount that goes in. Right now, we're doing 15% of gross. So there's a chapter in my book as well, but basically ... 15% of your gross income for the year is a good savings goal for most of us. If you do more, great. You know, it's basically 40% to get real wealthy, 10%, but 15% is a good goal for most of you. It might seem crazy, so if you just take your gross income for the year, you made $100,000 last year, that's $15,000 is 15% of that. This is gross, don't use take home. So you gross $100,000 and then taxes will come out. So 15% of that total gross, that's $15,000 and divide that by 12, it's $1100 a month or whatever it is. And that's what you're going to transfer out. That's basically what I've done. So it's 15% of what my gross is, ballpark numbers and there's more complicated stuff in this. But basically, this is what we want to shoot for.

So 15% of your gross. Last year we made $100,000, 15% is $15,000, divided by $1200, $1150 whatever it is. That's going to automatically come out of your personal account every month on a set date and go into your investment account. And that's it. That's how you're going to get 15% out of there. You probably don't want to start at 15, for most guys we're in debt and we're going to do an episode just on debt and all this other kind of stuff, as well. But you just want to get 15% out of there.

If you're not at this point, which you may not be, if you're in a lot of student loan debt and all that kind of stuff. We're going to do an episode on debt. You may not be ready to put 15% aside. I'd still encourage you to put something aside. It's $100 a month, it's $200. Even if you've got big student loans and loans and debts and all this stuff. Start getting in the habit of getting some of that money investment account, just a little bit as well. But, if you're a little bit more on, you don't have as much debt ... and even if you have a home loan and all that kind of stuff, which we'll talk about. You still want to do that. But that's the goal, 15% of your gross, whatever you grossed last year, 15% divide by 12. That monthly amount should go out of your personal checking now and into an investment account.

So, you're saying, what kind of investment account. You're going to do it all set on this, not a big fan of financial advisors, nine out of 10 are just there to take your money. And even if they're not, they're just going to skim one or two percent off the top. So people don't realize is financial advisors, the market goes up 7% one year, financial advisors taking ... it actually adds up to about 2% by the time their fees and commissions and all that kind of stuff. So the market went up seven, you only made five. That's not good. If the market goes down five, you lose 2% more. You're going to go down seven, instead of five. So, over 30, 40 years investing, this adds up to a fortune and it's going to actually crush you. We'll probably do an episode just on these fees and stuff, too. And kind of everybody's waking up to this, there's Vanguard Revolution. So basically I have everything with Vanguard, I save with post-tax money, which means I'll pay the tax when I take it out, which we won't get into in this episode. And then we'll put all low cost index funds. And again, we won't get into this this episode either, but their cost are average a .05, .06% fees for Vanguard. It's very low, there's no money transferred over there, no money to set up an account, no minimums.

I encourage you to set that up. They are very good. Their service is great, you can call up, they'll walk you through it. You can do it all online without doing that. Again, we're not going to get all into that this episode, but I am a fan of this more passive, low cost index fund type of investing. And the way we divide that all up and all that kind of stuff. We'll get into it in another episode. There's a good book on that, Index Card Revolution, is the simplest book. There's a bunch of other ones about this kind of stuff. We'll do a whole show on this investing, but the point of the matter is, you need to get it out of there. We're going to set this auto withdrawal. I'd like for you to set about 15% of your gross coming out monthly. I'm going to do it once a month through Vanguard. It'll transfer into money market account. You can leave it in there and then purchase the funds later or ... I kind of try to do it right away mostly. And again, we're get into investing in another episode. But, get it out of the personal into this account right away.

Now the one key thing with this is timing. So we've kind of nailed this timing down at my house, when these transfers and everything all happen. So, the Vanguard transfer from the personal account into the investment account happens somewhere around the 20th or something. But basically, you guys probably mostly the same way, beginning of the month there's a lot of bills, you got to pay your mortgage. We have a rental property we have to pay and then we got to wait for the rental check and all this kind of stuff goes on at the beginning of the month. And then the balance starts building up near the end of the month as you get paid the second time. So, we've kind of timed that transfer to Vanguard out of that second paycheck. Kind of my first paycheck will pay the mortgage and all that kind of stuff and the rentals. And then more money come sin to replenish that and then the balance is up higher and Vanguard takes it out.

So think about this timing. I won't get into this too much. The same with the other accounts, as well. And kind of what I've done for the most time, what I'll do with the business, because myself is on payroll and I have a large staff, a bunch of doctors and stuff, that payroll hit is pretty big every two weeks. And what I timed that as well, is the payroll's every two weeks and I pay the bills on the other two weeks. So, I'll probably do an episode on that, as well. You don't want to pay your bills as they come in. You want to set this all up, plan your finances a little bit better. We do a little bit more on this stuff, if you guys like this. But you just want to time all these transfers. So think about when you do it and it'll make it a lot easier.

Like I said, if you do that first transfer, usually the third of the month when you've paid your mortgage and all those kind of bills come in, it's better off to do it a little bit later. So think about all that, but pay yourself first, just really means get the money into the business. You want to get as much money out of that business into your personal account, as possible. Out of the personal account into an investment account and a good solid investments, low cost solid investments after that. And that's what pay yourself first means. Get it out of the business. Try and think about this, get it out of the business, get it into your personal account, and get it out of your personal account into an investment account. You guys are missing one or two of these steps or a lot of these steps. But that's really the big point of business.

the other nice thing is when you keep taking money out of the business account, it pushes you. I know people who will let $200,000 in their business checking accounts accrue. For one, you should be earning money on all that and all that kind of stuff, and it just kind of makes you lazy and not pushing. I keep the balances a little trimmer and you know, it keeps you pushing. I had a balance a little low this week, we had a slow week, let's push a little bit more. So it's good motivation, as well, to keep the business building. So, pay yourself first. Get the money out of the business into your personal account. Out of the personal account into an investment account. Automatically get it transferred, get it set up. There's some good resources for you. We'll do some more info on that, but don't forget to pay yourself first.

Speaker 1:

Thanks for listening to Dr. J's Path to Success podcast. Make sure to subscribe on iTunes and leave us a review. For information, please visit drjamesfedich.com. Dr. James R. Fedich, Clinic Director at Village Family Clinic. His book, Secrets of a Million Dollar Clinic, is available on Amazon and online at icanstartafamilyclinic.com or drjamesfedich.com. Www.drjamesfedich.com.

EPISODE 9 - Hire Slow, Fire Fast - How to Build a Great Team

- Monday, January 29, 2018

Building a great team takes time. Your business will take off when you have good people that run daily operations and processes, freeing you up to work on building the business and taking care of more important things. This podcast discusses how to hire good people and get rid of the ones who aren't cutting it.

EPISODE 8 - Fail To Plan, Plan To Fail, Calendar 101

- Friday, January 26, 2018

Does your business feel like it's on a wild roller coaster ride? One month you have tons of business and the next month crickets are chirping. This could be the result of an ineffective marketing plan. In this episode, Dr J discusses how he uses a marketing calendar to keep his office full of patients month after month.

EPISODE 7 - How Changing your Morning Routine can Change your Life

- Tuesday, January 23, 2018

Do you feel like you are stuck in a rut? Every day it's the same old routine but you're not getting ahead? In this episode, Dr J discusses how a committed change in your morning routine can help improve your life physically, mentally, and professionally.


Speaker 1:

Hello, and welcome to Dr. J's Path To Success Podcast. Dr. James Fedich is a successful practice owner, best selling author and speaker. Listen in as he shares his secrets to a successful business and a successful life. So now, here's Dr. J.

James Fedich:

Hello and welcome to this podcast. This podcast, we're going to talk about morning routine, morning rituals. I'm sorry I'm not going to be the first person to talk about morning routine, morning ritual. One of the best examples of a good book about this stuff is Hal Elrod's book, The Morning Miracle or Miracle Morning, something like that. He's really good.

The reason I'm bringing this conversation up, is actually my wife is reading this book or listening to it. We're big Audible listening fans, which if you're listening to this podcast you're probably an auditory person as well. Audible is great for listening to books.

But anyway, so she's reading Hal Elrod's book, The Miracle Morning, and was just really impressed with it and I think I read it a while back ago and it got me re-reading it. So we're both adjusting our morning routines, which is something you always constantly do, but I just wanted to kind of talk to you about morning routines and being a morning person.

First things first, if you'd talked to me when I was 27, 28, will you ever be a morning person? I would have said, "Surely never that will happen. You're crazy." So even 27, 28, out of school and running the practice, I was a nighttime person who used to stay up late and watch Conan O'Brien until 1:30 in the morning and come to work groggy and tired and be barely awake for my first patients at nine in the morning.

Obviously, this isn't really a good successful way to go about life. I know some coders and that kind of stuff that are all-time night people, but I'm going to tell you that 98% of successful people are morning people. If you listen to the Shark Tank or any of these real billionaires, they're almost all morning people. They're all going to have routine morning rituals and not only do you need to be a morning person, you need to have a morning routine. That's kind of what we're talking about in this podcast here.

In Hal's book, he goes really in detail exactly what he thinks should be your routine. I think there's some variables there. I think you have a little more flexibility but I do think he's correct in most of his points, the things you need to get done in the morning.

So first thing, I think you need to be a morning person. Most people listening to podcasts are small business owners, physical therapists, acupuncturists, chiropractors and patients in the morning. I do know some people start at 10 or 11 in the morning. I do want you to consider maybe that's something that should stop. People do want to come in early. For example, our clinic's open at nine, but I'll be in the office by 8:00 every day. We'll get into that in just a little bit.

But I definitely challenge you to become a morning person. The older I get, the more a morning person I am, the more productive I become and just a better life it's been. So being a morning person is good. Go to bed earlier. Wake up earlier first of all and that's just going to really change everything. I know it's tough. I used to say, "Hey, we're working until 7, 7:30. You get home. You eat dinner, you clean up and it's time to go to bed if you're going to bed at 10:00," which is kind of what I do now.

I work until about six most nights. Home at 6:30, eat, clean up, get to bed, blah, blah, blah. Yeah, you don't have much time and you go to bed, but that is okay, because you're getting this productivity in the morning. So I want you to think about changing your routine, becoming a morning person if you're not. Most of you probably are, but I want to go through some stuff of morning routines for you.

A lot of us are just waking up in the day, we react to the day as it comes at us. So you wake up, you react to your phone. You're probably checking your email first thing in the morning. Reacting to the day as it goes through instead of purposely planning your day. We're going to kind of through that. I don't like, like I said, Hal is very strict, "This is the way exactly you should do it." I think there is some flexibility here, but there are some key things that we want to talk about.

First thing in the morning, we want to get up earlier for sure. Whatever time you need to be at work; three, four hours before that. For example, we start at nine, I'm up by 5:30, so that's three and a half hour before your first patients. That's probably pretty good. Somewhere in there, three to four hours is a good range to be up early, so you got to be up a lot earlier.

So what are we going to do with all this time? Everyone's routine should be a little different, suited on you, but there's a couple things I want you to do before the day starts. I've actually as I said, just recently switched my routine, but really there's two things you want to get done. Some reading and learning in the morning. You want to plan your day and you want to get some physical activity. Some of the books and speakers on this, they want you to get your workout done early in the morning, which never really works for me because I'm not super ... It's not my best time to be active and just not enough time to get a full workout in. I like to work out for an hour plus and it's just not quite enough time with small children and breakfast and all that kind of jazz.

My wife's kind of in the same boat, raising small kids. So what both of us are doing now, she's doing a quickie. She's a yoga instructor as well as a former teacher. She's doing a quick yoga routine in the morning. Not her full workout. She'll still work out usually when the kids are napping later in the afternoon, but it just gets some activity in the morning.

What I've begun to do, is basically take my dog for a two mile walk every morning. It'll take about 25 minutes to walk him up around the neighborhood. Good exercise for the dog, burns off some steam before I leave for work and he drives my wife crazy. It's just enough physical activity. It's not going to be the workout for the day. My level, I don't think it's quite enough workout. There's some days, if you're busy, at least you've got your 25 minutes in and you did some workout. Nine out of 10 days, I'm still going to go to the gym at lunch for an hour or an hour and a half, but you're getting some physical activity in the morning.

First thing is some physical activity in the morning. A lot of these people are saying you got to get your whole workout in for the morning. I'm not necessarily agreeing with that. If you can, great. When my wife was teaching, she would do that. That's kind of how I started to become a morning person. She would be up at 5:30, going for a workout. Sometimes at the gym or at home for an hour before she went to go teach. She would get her full workout in then because she would teach until 3:30 or 4, tutor and all that stuff and just exhausted. Dinner and went to bed early.

It was a good influence on me, getting me to be a morning person. So if you can't get your full workout in the morning, great, but I don't want you to put the pressure that you have to do that. Like I said, for me that's just never worked. I've never been able to really get it in and I want to be there to get my daughter out of bed at seven, when she gets up. I want to be there for that and breakfast, so I don't want to be at the gym at 5:30 in the morning and missing out on the morning stuff and my wife appreciates a little help in the morning, getting ready as well.

If you can't get your full workout in, that's great. I totally understand. I've never been able to. I've never got my full workout in, but we want to get some sort of physical activity in the morning, so walking the dog is great thing. If you have a pet, most of them need just a little walk, something like that. My wife just does a little 15 minute yoga thing. She does these 90 minute yoga classes. She's not going to have time for that in the morning with both kids, but she'll do a little 15 minute flow, she calls it, and does a little workout.

So just plan some sort of workout in the morning, and next thing I want you to do some sort of learning in the morning. Kind of my routine now, just sort of change it up here, but right now I'll get up about 5:30 and I will go downstairs. The coffeepot's already brewing and I will grab ... I have a book out in my office. I have an office at home, and I will read for about 30 minutes in a book that I'm working on, on my desk in my office. That's kind of my routine. Drink my cup of coffee or two, read the book until about six.

At six, I will take the dog for a 25, 30 minute walk, 6:30 come back in. I take the garbage out, recycling; I'll do that kind of stuff right then and then I'll eat breakfast. Get some stuff going already. Will get my daughter up at seven. Get that going, changed, etc, feed her and then I'll go up in the shower 7:15, 7:20. When that's done and be out of the house at 7:40. Then I'll be at the work at eight.

I'll get two of my important things done in the morning. Well you know, breakfast obviously important too, so if you're not eating breakfast, skipping breakfast, you've got to eat breakfast for sure. You eat breakfast at home. I've got staff picking it up on the way and all that kind of stuff. There's almost nothing healthy out there for breakfast. Make breakfast at home. I'm not going to tell you what to eat. Eat healthy. These people stopping for buttered rolls and bagels on their way and then wonder why you're sluggish in the morning. Eat a good healthy breakfast and eat it at home too. So that would be another thing to add into our morning.

The other really important part of your morning is planning your day. Now a lot of people are going to tell you to do that at home before you leave the door and again, that's great if you can. I found I'm much better leaving that at the office. Everybody's got a different work situation. I have a nice large private office at the house and the office, but I save that daily planning for the office. I can't even really tell you why I've done that. I just leave my daily to do list there and it just worked out better for me to do that. That being said, you need to get into your office a little bit earlier. So if you are a healthcare provider, which a lot of people are ... But it doesn't really matter what you do, get to work earlier.

If you work for somebody else and you work in an office, you're going to impress the boss. It's a good way to get raises, work up the ladder is by being the first one in to work. So if chance you're really the owner or even if you're not, just get to work earlier. If the place isn't open, maybe ask for a key. Say you want to get in earlier, but you should be the first one there. That's going to help you with your career in a lot of ways. For as long as I've been ... I'm never the last one there anymore. The office opens at seven. My late days I open at six. I leave at six. The other three days I leave at two or three, but I'm always the first one there every day pretty much. One of my staff will get there early as well.

Being the first one there is good. Get stuff ready, check the office out. Get your clear head and I like to do my daily planning then at the work. So we're going to work on your goals so we're not going to get into this now, but you should have 90 day goals, so we're going to talk what are your goals for the next 90 days. I want to break this many visits, collections, I want to weigh this much, save this much. Short 90 day goals, we'll work on those and then you're going to work on your daily to do list and that's really kind of what I'll do then, first thing. Work on your daily to do list and work on your 90 day goals, what we're working on there. So get your actions in for the goals.

Then I've found, if you get all that done and you're there at eight, my first patient is at nine, if I'm seeing any patients that morning, but you get all your goals done, you get your to do list straightened out and then we do some emails. Email the accountant and all that kind of stuff that needs to get done before the day starts, instead of interrupting your day. I get a lot of those things done. Look at the ad, look at the TV commercial, email back, set up the direct mail. All of those kind of non-patient oriented stuff that you need to get done for your business.

I want to challenge you, it's really going to be a jump for your business. That was one of the big leaps we had years ago when we started really growing the place faster, is getting in early and getting all that stuff done before. You get in at eight, patients are at nine. They show up at 8:45. Most of the staff's getting in at 8:30. You're getting your goals, your daily to do list done. Then you can start working on the business. For most of us, that 15, 20 minutes, you probably get a half hour of it done in the morning before I get interrupted and it's a half hour on your business, not in the business. You're getting in early, you're working on the business, not in the business.

What's the advertising campaign, what's the marketing campaign, your day one, day two. That's really where some of my best stuff comes up. It's also a good time you can meet with the staff, before patients come in. If you have other healthcare providers working for you, you talk, "Hey, what's up with this patient? What's going on here?" Kind of clear that all out.

I want to challenge you to become a morning person for one, if you're not already and then set up a morning routine. Even some of us that are morning people, they're just waking up at 5:30, drinking coffee, watching TV. You cannot watch TV in the morning. I was an offender of this too. We used to watch Sports Center early in the morning, years ago. I'd be up early and just watching ESPN for 40 minutes. That's really not going to set off your day in a good way.

So our challenge one, I want you to become a morning person if you're not already. Set your alarm clock, start getting up earlier. In Hal's book he says you can just get up earlier and earlier. Your body doesn't need as much sleep as you think. You can train it to be awake earlier and earlier. So start setting your alarm clock. If you get up at 6:30, do 6:15, 6, 5:15 or 5:30. Something like that. Get up earlier and earlier and you can get more and more done in the morning. Get productive. So start that alarm clock, no matter what, pretty much. Just start setting an alarm clock to get up a little bit earlier every morning and then I want you to set up a morning routine.

So don't just get up, flip on the boob tube, drink coffee, whatever you do. Set up a routine. You have a specific routine. You're going to get up. Mine's the same. Get up, turn the alarm system off. Go downstairs. The coffee's ready. Grab the coffee. Go to the bathroom. Go to the office. Start reading for a half hour. Second cup of coffee, take the dog for a walk. Came back in, eat breakfast. Take your vitamins. Take my green drink. Get my daughter up, hang out with her for a little while in the morning. Take a shower. Go to work. Either listen to audios on the way to work or record audios for you guys.

Then get to work, work on your to do list. Daily to do list. Go through your calendar for the week, all that kind of planning stuff before, as well as time working on the business. Handling those emails that need to get done before you start getting busy with patients. A lot of you guys, your day gets interrupted no matter what you're doing, whether you're a healthcare provider or not. You want to start getting the important stuff done in the business. It's just hard as you're getting interrupted, so it's always really important to get it done.

If you work for somebody else, your hours are at nine, ask to get the key or come in early. Be the first one in there. It's only going to help your career no matter what.

So challenge one, become a morning person. Start setting your alarm clock. Go to bed earlier. You'd be surprised how early you can go to bed if you try. Go to bed a lot earlier. You say, "I can't fall asleep." You can. Go to bed earlier. Set your alarm clock and have a morning routine. Do something intentional to start your day. The way you set up your day is how the whole day is going to unfold. So set a routine in the morning. You don't have to do exactly what I'm telling you. You want to learn, read something. You want to get some nutrition in. You want to plan your day, and you want to get your exercise. Those are the real three things you want to do to get things done.

The one thing I did forget about too, when I walk the dog, I'm always listening to a podcast when I walk the dog as well, so it's a good time to get some reading for 30 minutes most mornings; 20, 30 minutes. Then I'm going to do 20, 30 minutes of podcast. So before a lot of people have even gotten up, I've been learning for an hour. I've got a half hour of audio in me, and a half hour of book in me every morning before even a lot of people have even gotten up. Think about how that adds up 360 days a year that we're doing that. Maybe not Christmas I'm doing that, but about 360 hours a year of learning on top of other people.

That's on top of me listening to audio books in my car and all that other kind of jazz. I challenge you to become a morning person. Get up early and set a morning routine. A morning routine you got to learn something, you got to get your nutrition in you and you got to set your day up, and you got to get some exercise, so it's really kind of important things that you've got to do every morning. This will change your life. Stick with this for 90 days. It'll be a new habit. I like 90 goals for you, but stick with 90 days of morning routine and watch it completely change your life.

For more information, Hal Elrod's book is really good. The Morning Miracle or something like that. Miracle Morning, that's what it's called. Miracle Morning. So it's a good book. It's more detailed. Like I say, he's real specific about the exact order. I think you can set it up yourself but anyway ... Become a morning person. Set your morning routine, get your fitness in, get your mental nutrition in, get your regular nutrition, and your daily to do list done before you get to work or start work.

Have a great day. Start your mornings right.

Speaker 1:

Thanks for listening to Dr. J's Path To Success Podcast. Make sure to subscribe on iTunes and leave us a review. For information, please visit Drjamesfedich.com. Dr. James R. Fedich, Clinic Director at Village Family Clinic. His book Secrets Of a Million Dollar Clinic is available on Amazon and online at Hackettstownfamilyclinic.com or Drjamesfedich.com, www.drjamesfedich.com.

EPISODE 6 - How to Delegate Responsibilities and Make More Money Doing It

- Monday, January 22, 2018

How much do you make an hour? Do you find yourself doing many of the tasks that employees should be doing when you could be spending your valuable time building the business? If so, Dr J has some advice for you that could change your whole perspective on how to run and grow your business.


Speaker 1:

Hello, and welcome to Dr. J's Path to Success Podcast. Dr. James Fedich is a successful practice owner, best selling author, an speaker. Listen in as he shares his secrets to a successful business and a successful life. So now, here's Dr. J!

James Fedich:

Hello everybody. Welcome to this episode of the podcast. This episode we're talking about paying yourself first. So here's another one of these things that I remember hearing a whole bunch of times and took many years to really understand it, comprehend it, and I'm going to try to get you to that point a little quicker today.

So the first time I remember hearing this pay yourself first, one of my first and earliest mentors, Dr. James Santiago, great chiropractor in Newark. And as a side note, I've been very blessed to have great mentors, really right out of school up until this day. Currently I have three coaches now, I've had great mentors that really got me to where I've been. And that's really one of the reasons why I do this podcast, I wrote the book and I do some coaching, is to kind of give back because I really had some great people helping me along the way. And Dr.Santiago is one of the first to really kind of help me.

Some of these lessons he was trying to teach me at 26 right at the end of school there, 26, 27, I really wasn't ready to hear or didn't understand at the time. But he was one of the first persons to say, "Pay yourself first." And since then, you've probably read it in a business books, and everybody kind of says it. But I'm not sure most of us understand it. I say it myself probably 8, 10 years later before I really understood really what that meant and how to apply it in my life for success. I wish I'd kind of learned this lesson a lot, lot earlier as I heard it a lot of times, but I just didn't really understand it. Kind of like the harder slow, fire fast other episode we talked about. You know, I heard that a hundred time and probably just the last few years I really understood it being in business for 14, 15 years now.

Pay yourself first, there's kind of two meanings. If you own a business, there's kind of one section of that pay yourself first, the way I see it. And then there's on the personal side. So whether you own a business or a practice, or not, there's definitely implications either way. If you own the business, there's even more, but again, both ways there's kind of two ways I see pay yourself first. I'm certainly no CPA or financial advisor, so don't take that advice that way, but it's just kind of my personal observations.

So, first pay yourself first out of the business end of it. Most of my listeners are chiropractors, physical therapist, acupuncturists, you own professional practices. And pay yourself first. So I remember hearing that and for years, I really didn't understand. So the bills, you know, money comes into the practice and the business checking account, goes out to pay bills and kind of, most of us, at the end of the month, if there's something left over, we write ourselves a checks. That's how a lot of practice owners work. But what'll happen really is that the bills and the expenses are going to match that income. So it doesn't matter how much gross income you start bringing in $10,000 a month, $20,000 a month, seem like you can pay all the bills. And now our bills are $100,000 a month in the practice. So the bills are going to meet up with those income. And if you don't get money out of there, the expenses are just going to gobble it all up, whether you're doing $10,00 a month, $100,000, or $1,000,000 a month. Your bills are going to eat it all up. You've got to get the money out of there.

So what does that really mean? There's tax and legal implications of this, but basically ... I'm an LLC for the practice and I paid myself like basically a draw, where you just kind of write yourself a check and you do quarterly estimates. And I found a lot of my coaching clients, doctors, do that as well. State rules vary, you got to talk to your accountant, et cetera. But basically what I did to start paying myself first out of the business, you've got to get that money out of the business. So the point of the business isn't for the business to make money. The point of the business is to give you money, get money out of there. That's the only point to being in business. It's great to give jobs and all that other fun stuff, but the point of that business is to get money out of there into your personal account. So the game that I ... the way I see it, when you put this all together, the money comes into the business, you want to get as much money of that out of there, into your personal accounts as possible. And then we'll talk, in a minute about getting it out of your personal account into your investment account, as well.

So, but anyways. Step one, we're going to get it out of the business account. You want to get as much money out of there as soon as possible. What I did was actually switch the way we file with the tax returns, from just a regular LLC to now we file as an S-corp or a pass through corporation. And again, I'm not going to be your accountant or your legal advisor, et cetera. You need to definitely talk to your accountant for this, but basically there's some advantages of that. Big advantages I saw, pass through income, and mainly I can put myself on a payroll. So here's the million dollar lesson I learned for many years. I just wrote draw checks and I tried to do automatic transfers regularly and all that stuff. It's just so easy to skip your check. But basically what I did is I put myself on payroll, like the whole staff and every two weeks we do payroll. And I'm there with a set dollar amount that comes out. There's other strategies I take money out other ways that we won't get into here. But I'm on payroll just like everybody else. And there's a bunch of us that are salaried and then there's my hourly employees. So I do payroll every two weeks to pay them all up.

And the five of us ... whatever, eight of us are on salary, go out automatically, direct deposit and the eight hourly employees work this many hours each and she does the payroll. And what this did is make me pay myself every two weeks. And I didn't really feel in the business all that different. Before you'd skip a week, you'd skip another week. Instead of every week, you're paying yourself every two or three weeks. You skip too many weeks. But when you're doing payroll for the whole staff and team, you're on that list of people, it actually takes more effort to take you off the payroll, so you got an email, I'm going to skip a payroll this week. And you can always do that when things are tough, but every since I did this ... before, you're skipping checks all the time, "oh, it's a slow week" or collections, I got to pay this or something would come up and you skip it. When you're on payroll, I don't know if I've done that maybe once or twice in five, six years I've been doing that. You just get used to it and you just take that money out every two weeks.

So, that's a big tip to get yourself on a regular pay period. When you write yourself your own check, which a lot of you guys do, it's just really easy to skip it. Put yourself on payroll. The other nice thing with that, I went from quarterly taxes to taking them out every two weeks with your paycheck. So those of you guys that have read the book, is the [inaudible 00:05:25] growing quickly, when I found out those estimates that you do ... if you owed $40,000 in taxes last year, you pay $10,000 four times, quarterlys, but your practice went up 40% this year. So instead of owning $40, you owed $70, that's just raw numbers. At the end of the year, you got to come up with another $30,000. And just because you made it, as you guys know, doesn't mean it's sitting in your business checking account, right?

Just because the gross went up, doesn't mean the net went up. So I really got off that rollercoaster. It's stressful. There's quarterlys and those last minute payments. So I put myself on the payroll and then what I do, is I over deduct. So I make sure they take out extra on top of what normal payroll deductions would be, because you're the business owner and there's other ... it gets complicated. There's other stuff going on. So they take out what you normally would for payroll person making x dollars and then some. And basically, I end up doing pretty good. I kind of planned that out with the accountant, how much to overtake and we look at it as we're growing throughout the year, et cetera. And you got to think, maybe a little short, maybe a little long ... I think one year, they owned me five, I owed them 5. It kind of keeps it a little more tight, instead of owing 20. And you can kind of look at it throughout the year and see where you're at. But it just takes it out every two weeks, instead of coming up with these big estimates. Now, I'm ... our volume, we're looking at a quarterly estimate of $40, $50,000 every quarter. I mean, it's just much easier to take out a couple thousand every paycheck when you come up with $40,000 every quarter. So, that's more advanced stuff. You definitely need to talk to your accountant. You may have to talk to your lawyer.

Basically if you do that LLC, you can file a form with the IRS to just change the ... keep it as an LLC, but you file as an S-Corp, it's a simple one page form your accountant can help you out with. I was talking to another business owner about this. What you'll notice, you start taking a lot more money out of the business if you do that. And it's really easy, too, if you're growing a little bit or you're just feeling that you can just up your salary a little bit a couple hundred dollars every two weeks, that adds up and it's just another way to keep drawing more money out of the business. So that's what they mean by paying yourself first. Most of us are paying yourself last. You say at the end of the month you pay all the bills, you pay all the staff, your employees, the rent, the this, the that, and you forget to pay yourself.

I'm obviously the largest payroll and every two weeks, it's coming out of there. I'm first out. If I'm getting it out, my tax point is going right over to the government and I'm getting the rest right away and it's coming out of the business first. So that's what pay yourself first means to me. There's other strategies to get money out of there and this could get very complicated. But that would just be the real simple thing to get the money out of there. You don't necessarily need to put yourself on payroll and change the filing like I just said, but there's a lot if you're an LLC, you can't just put yourself on payroll, you got to change the filing status. That's what we had to do in New Jersey. But again, not a CPA or a tax advisor or anything like that. Those are just kind of what works for me, your accountant can talk you through this as well.

You can do it other ways. Maybe you're writing yourself a check every week and you can do it that way or you can do auto draft, too. You can do ... I actually do that as well. So I do both strategies where I have the payroll and I also have auto draft, every week there's a certain amount that comes out from the company checking account into my personal checking account as a draw. And that's ... again, we don't want to get too complicated for you guys. But you got to get that money out of the business.

People think of business the wrong way. The point of any business, anywhere, whether it's healthcare, donut store, whatever the heck it is. The object is to get the money out of the business into your personal account. That's the objective of the business. It's not to fund a million jobs and do all this other stuff. And all that stuff is great, we'll talk all about that. But financially, the point of the business is to get money into your personal checking account.

So I want you to think of the business funneling, as much as you can out of the business into your personal checking account. I just want to pay the bills and run everything, but you'd be surprised how much more you can take out of there. I guarantee just doing these strategies, you don't grow your practice or business, you can just grow your personal income by taking more out. The business will survive. Your expenses will rise up to meet what you leave in there. So if you take it out, you can't spend it in the business. So that's step one. Get it out of the business into your personal.

If you don't have a personal ... a business, that part might not have made a lot of sense to you. The next part will. So really, the big picture you want to look at is the business is to make gross profit, take some of that money out ... or as much as you can out into your personal account and the next step to paying yourself first, is to get it out of the personal account and into your investment account. So really you want to think of this funnel, business money into personal account, personal account into investment account. And that's how you're really going to get wealthy down the road. So it goes from business to personal and the personal you're going to pay for your mortgage, you know, all that kind of stuff that you got to pay, all the bills. And then you want to get money out of there.

So in personal finance people, like Dave Ramsey, who's books are good on this kind of stuff for the most part, by the way. Talk about paying yourself first, so the personal side, what they're talking about is kind of the same deal. Getting that money out of that personal account and into some sort of investment or savings account right away. So that's another objective. So how do we do that? Every two weeks, you're getting paid, I do some other stuff as well. Money's going in there, the bills are going to eat that all up. Whatever you leave in there is going to get eaten up by bills. Just like in the business. It's a lot of the same kind of stuff.

We want to get money out of there. So, like I said, big picture, out of the business to into the personal and you want to get it out of the personal. A lot of people, even if they get step one, business into personal, they leave it in their personal. Or even if you're an income earner, regular employee, whether it's practice or whatever, that money's sitting in the personal account, just sitting there and it's going to get eaten up by expenses. No matter what.

There's people that make $1,000,000 a year and their expenses are $1.2 million a year and they're losing $200,000 a year, right. So it doesn't matter how much you make. You've got to do this. And you can get wealthy following this, no matter what. So out of the business into the personal. Or, just from your paycheck into the personal. You've got to get it out of there next. So how do we do that?

Basically I've tried a lot of different stuff and long story short, I do an automatic transfer out of personal checking into my investment fund. Every month, there's a certain amount that goes in. Right now, we're doing 15% of gross. So there's a chapter in my book as well, but basically ... 15% of your gross income for the year is a good savings goal for most of us. If you do more, great. You know, it's basically 40% to get real wealthy, 10%, but 15% is a good goal for most of you. It might seem crazy, so if you just take your gross income for the year, you made $100,000 last year, that's $15,000 is 15% of that. This is gross, don't use take home. So you gross $100,000 and then taxes will come out. So 15% of that total gross, that's $15,000 and divide that by 12, it's $1100 a month or whatever it is. And that's what you're going to transfer out. That's basically what I've done. So it's 15% of what my gross is, ballpark numbers and there's more complicated stuff in this. But basically, this is what we want to shoot for.

So 15% of your gross. Last year we made $100,000, 15% is $15,000, divided by $1200, $1150 whatever it is. That's going to automatically come out of your personal account every month on a set date and go into your investment account. And that's it. That's how you're going to get 15% out of there. You probably don't want to start at 15, for most guys we're in debt and we're going to do an episode just on debt and all this other kind of stuff, as well. But you just want to get 15% out of there.

If you're not at this point, which you may not be, if you're in a lot of student loan debt and all that kind of stuff. We're going to do an episode on debt. You may not be ready to put 15% aside. I'd still encourage you to put something aside. It's $100 a month, it's $200. Even if you've got big student loans and loans and debts and all this stuff. Start getting in the habit of getting some of that money investment account, just a little bit as well. But, if you're a little bit more on, you don't have as much debt ... and even if you have a home loan and all that kind of stuff, which we'll talk about. You still want to do that. But that's the goal, 15% of your gross, whatever you grossed last year, 15% divide by 12. That monthly amount should go out of your personal checking now and into an investment account.

So, you're saying, what kind of investment account. You're going to do it all set on this, not a big fan of financial advisors, nine out of 10 are just there to take your money. And even if they're not, they're just going to skim one or two percent off the top. So people don't realize is financial advisors, the market goes up 7% one year, financial advisors taking ... it actually adds up to about 2% by the time their fees and commissions and all that kind of stuff. So the market went up seven, you only made five. That's not good. If the market goes down five, you lose 2% more. You're going to go down seven, instead of five. So, over 30, 40 years investing, this adds up to a fortune and it's going to actually crush you. We'll probably do an episode just on these fees and stuff, too. And kind of everybody's waking up to this, there's Vanguard Revolution. So basically I have everything with Vanguard, I save with post-tax money, which means I'll pay the tax when I take it out, which we won't get into in this episode. And then we'll put all low cost index funds. And again, we won't get into this this episode either, but their cost are average a .05, .06% fees for Vanguard. It's very low, there's no money transferred over there, no money to set up an account, no minimums.

I encourage you to set that up. They are very good. Their service is great, you can call up, they'll walk you through it. You can do it all online without doing that. Again, we're not going to get all into that this episode, but I am a fan of this more passive, low cost index fund type of investing. And the way we divide that all up and all that kind of stuff. We'll get into it in another episode. There's a good book on that, Index Card Revolution, is the simplest book. There's a bunch of other ones about this kind of stuff. We'll do a whole show on this investing, but the point of the matter is, you need to get it out of there. We're going to set this auto withdrawal. I'd like for you to set about 15% of your gross coming out monthly. I'm going to do it once a month through Vanguard. It'll transfer into money market account. You can leave it in there and then purchase the funds later or ... I kind of try to do it right away mostly. And again, we're get into investing in another episode. But, get it out of the personal into this account right away.

Now the one key thing with this is timing. So we've kind of nailed this timing down at my house, when these transfers and everything all happen. So, the Vanguard transfer from the personal account into the investment account happens somewhere around the 20th or something. But basically, you guys probably mostly the same way, beginning of the month there's a lot of bills, you got to pay your mortgage. We have a rental property we have to pay and then we got to wait for the rental check and all this kind of stuff goes on at the beginning of the month. And then the balance starts building up near the end of the month as you get paid the second time. So, we've kind of timed that transfer to Vanguard out of that second paycheck. Kind of my first paycheck will pay the mortgage and all that kind of stuff and the rentals. And then more money come sin to replenish that and then the balance is up higher and Vanguard takes it out.

So think about this timing. I won't get into this too much. The same with the other accounts, as well. And kind of what I've done for the most time, what I'll do with the business, because myself is on payroll and I have a large staff, a bunch of doctors and stuff, that payroll hit is pretty big every two weeks. And what I timed that as well, is the payroll's every two weeks and I pay the bills on the other two weeks. So, I'll probably do an episode on that, as well. You don't want to pay your bills as they come in. You want to set this all up, plan your finances a little bit better. We do a little bit more on this stuff, if you guys like this. But you just want to time all these transfers. So think about when you do it and it'll make it a lot easier.

Like I said, if you do that first transfer, usually the third of the month when you've paid your mortgage and all those kind of bills come in, it's better off to do it a little bit later. So think about all that, but pay yourself first, just really means get the money into the business. You want to get as much money out of that business into your personal account, as possible. Out of the personal account into an investment account and a good solid investments, low cost solid investments after that. And that's what pay yourself first means. Get it out of the business. Try and think about this, get it out of the business, get it into your personal account, and get it out of your personal account into an investment account. You guys are missing one or two of these steps or a lot of these steps. But that's really the big point of business.

the other nice thing is when you keep taking money out of the business account, it pushes you. I know people who will let $200,000 in their business checking accounts accrue. For one, you should be earning money on all that and all that kind of stuff, and it just kind of makes you lazy and not pushing. I keep the balances a little trimmer and you know, it keeps you pushing. I had a balance a little low this week, we had a slow week, let's push a little bit more. So it's good motivation, as well, to keep the business building. So, pay yourself first. Get the money out of the business into your personal account. Out of the personal account into an investment account. Automatically get it transferred, get it set up. There's some good resources for you. We'll do some more info on that, but don't forget to pay yourself first.

Speaker 1:

Thanks for listening to Dr. J's Path to Success podcast. Make sure to subscribe on iTunes and leave us a review. For information, please visit drjamesfedich.com. Dr. James R. Fedich, Clinic Director at Village Family Clinic. His book, Secrets of a Million Dollar Clinic, is available on Amazon and online at icanstartafamilyclinic.com or drjamesfedich.com. Www.drjamesfedich.com.

EPISODE 5 - Working with Vendors - How the Squeaky Wheel Gets the Grease

- Friday, January 19, 2018

Do you have problems getting the most out of your vendors? This podcast gives practical tips on how to be the squeaky wheel and stay on top of deliverables.


Speaker 1:

Hello and welcome to Dr. J's Path to Success Podcast. Dr. James Fedich is a successful practice owner, best-selling author, and speaker. Listen in as he shares his secrets to a successful business and a successful life. So now, here's Dr. J!

James Fedich:

Hello and welcome to this episode of the podcast. The title of this episode is Squeaky Wheel. Why are we named the squeaky wheel? We're going to talk about vendors and getting attention, getting the squeaky wheel gets the grease so the old adage is, the squeaky wheel gets the grease. We're going to talk about this in context under vendors. Most small business owners, and even if you're not a business owner, you deal with a lot of vendors. You need work done, plumbers, electricians, all kinds of different service providers, landscapers that you have in your life. And if you have a business, you have ten times as many.

The reason this is coming up is, I'm actually on my way to my clinic at 7:20 in the morning, and I'm meeting with a new insurance broker, because we're not getting the service from our insurance broker that we need or deserve, and we're going to switch brokers. When I complained about it, they basically told me to be nicer to the staff. We were complaining that we weren't getting our health insurance done, and we have staff that are uncovered, and staff that's no longer with us that is being covered. It's a bit of an issue, obviously, and the insurance is pretty experience, so it was a couple thousand dollar a month mistake, not to mention we have staff members that want to have health insurance and don't, which is obviously not okay.

As I was getting on this vendor about not having our insurance done properly, I was told to be nice to the woman, she's getting older. Please be nice. You're calling and yelling at her and all this stuff, and so long story short, we're going to switch vendors, obviously. One thing I'm known for around the clinic is being really tough on our vendors. A lot of you, I'm going to encourage you, are being a little bit too nice letting people get away with stuff. If you're paying people money, you should be getting the service.

So, if you've been in business, or even if you're not in business, but you've just been around for a little while, you've probably noticed service slipping everywhere. Just yesterday, I'm at Target grabbing a couple things for my wife's birthday. Wrapping paper, a card, little stuff, and you go to check out, there's four self-checkout lanes with two or three people waiting in each person and one person overseeing, one actual checkout line with a real customer service person and a line going down there, and standing in line to wait to check myself out, I'm just astonished that this is kind of where customer service has gotten to.

I'm waiting in line to check myself out, bag my own stuff, pay you, and leave. How am I waiting in line to work for you and pay you? That's just unbelievable how customer service is going, and I think we kind of know where that all came from with the $15 minimum wage, et cetera. We won't get into that conversation today. But customer service is slipping everywhere, with your vendors and everywhere, all around. But when you're paying somebody money, you should expect some certain level of service.

So we want to talk about encouraging you to be a little bit tougher on your vendors, today. To your suppliers you're getting your supplies from, your vendors for telephone, cable, internet, things like your insurance broker. We're not getting service like this, I demand better service, they can't do it, so they're out. They're fired. And that's it.

There's a million insurance brokers that like our business. It's a pretty big clinic. It's a good client for a new guy that I'm on my way to meet, now. He's willing to meet me at 8am in the morning, and he's going to get the business of all my property & casualty, health insurance, you know we have a lot of insurance, a big clinic like that, and he'll get a nice book of business, because they weren't willing to give me the customer service.

So I want to encourage you to look at some of your vendors and realize you've got to be tougher on them. Another thing, my staff are always commenting, like half the day I'm spending just keeping up on people. Keeping on the vendor, "Where is this? Where's my supplies? How come this is late? Where's this?" And you're just on these people all the time. It's a real sad state of affairs when we can talk all about that, but you just need to be on your vendors all the time. You have to realize, if you're paying somebody money, the more you pay them, the more of a customer you are, the more you should be able to demand that you're getting better service.

So if you're a better client, or even if you're not. You know, a smaller client, you deserve service, but the bigger the client you are, the more service you should be demanding. A lot of people are just sitting on the back waiting to be done. I was just talking to a patient the other day and kind of saying, you know, being at the bottom of the pile.

You know, the squeaky wheel is going to get the grease. You're calling, complaining, emailing, and you're on top of these people, they're going to put you on top of the pile. Half the time, I get good service with these vendors only because I'm a pain in their butt, and they don't want me calling all day and emailing them, and I'll just be on them. You know, my wife's learned the same thing, too. But I've really learned, and it's a shame. Trust me, I don't want to do this, but really if you're not the squeaky wheel, you're not going to get things done, especially in this day and age of poor customer service just all around.

On the flip side of this, I want to encourage you to look at some of your vendor relationships, your suppliers, your service providers, landscapers. I was just talking with another M.D. at the clinic, our landscaping company may not be the cheapest, but they just get anything done for me. Last year, a bear knocked down our fence. I took a picture of the fence, emailed it to them, and the next day there's two young guys out there putting a new fence in, and they send me a bill for it.

The gutter was hanging off or something a couple years back. Same deal, picture I sent it over, they sent a guy to get over there. So I'm probably paying a little bit more for a cut than I need to be, a weekly cut, and all that kind of jazz, but you know what? They get the service done, and I don't have to worry about stuff like that. The plow the driveway, they salt the driveway, they trim the bushes, they do the leaves, they do all that stuff for me. It might be a little more expensive, but like that fence is a big thing. I've got a dog, kids, and you know, the fence was down. I took a picture and emailed it, and they came out and did it.

I may or may not be overpaying for that service, but I don't mind, because they're going to give me that customer service. So number one when you think about this kind of vendor service relationship, your squeaky wheel conversation, who are you not getting the service from in your vendors relationships. Is there somebody who is just not giving you the service or not on top of things. Things are late. You need to be on them and expect more from them.

Like this vendor today with the health insurance, they can't give me what I need, you're fired. You're out. There's a million other people that will do it, especially with a bigger business. But even if you're small, they'll take you. You know, demand that high level service or get rid of them. I was calling and emailing every day. Someone, two weeks ago should have been put on our health insurance plan. I've got employees not covered when they're supposed to be covered. That's not okay. I'm going to be on them, and basically the supervisor told me to lay off the lady, she'd get it done. He just told me, "She's an older woman. Take it easy on her." And it's like, it's been sitting in her pile for two weeks. No. We have staff that needs insurance. I'm not going to take it easy on you. If you can't give the service, you're out. So that's that. Once you appear to be a little bit tougher on some of your suppliers and vendors and your relationships like this, you know.

And then, when they do give good service, you treat them well. So that's the flip side of this conversation. My computer guy, after going through a million computer guys, I finally found a good computer guy, finally. It's a nightmare if you have an IT guy. So, he's good. He comes in prompt. My staff can call him when I'm not there, and he'll show right up to the office within a day or two, call, he does a lot of repairs on the phone and doesn't even charge me. But one of the things I always do with him, and this is a good tip with a lot of your vendors, and I just did this a couple times is, I write him a check right when he's there. So when he's done with his service at the office, "Mike, what was the bill? How long were you here?" And he leaves with a check.

So if you know any of these service providers, they are always chasing down money. Plumbers, electricians, all that kind of jazz. And him, too. So he's billing, and he does these big loggers, he bills on the system, it sits on this big pile, and you know next month, it's 90 days were unpaid, you've got to send a second invoice. These guys don't have time for that, especially most service providers are kind of mom and pop of just a guy or two. So these are really good tricks for you, and I do the same with a couple vendors. The computer guy, I always do that.

He also does my house. We have a bigger house, and the whole network and all that kind of jazz, and he installed ... The WiFi couldn't reach the whole house, because it's a big house. He put these repeater things, and we still had problems with the internet. He's texting me back and forth, try this, try this, and finally it just wasn't working. He said, "I'll come out on Tuesday. I'll be out in the area." He stops by. Long story short, a wire went bad, so he came to the house. My house is 30 minutes from the office, and it's not in the same town. He replaces the wire, and tells my wife, "I'll get you a bill." She says, "Oh, I'll pay what it was." He said, "The wire's $15." He didn't charge, he drives out to the house 20 minutes away, service call. My wife give him $20 cash, done.

Same thing, we had a HVAC unit issue at the office. I had a great guy, actually, that did all my HVAC for rentals and my house and my office, and he had an injury. He said, "I can't repair this thing." I was calling around, problems getting somebody to come back, get this new guy who finally does it at much less than the estimate $200 when I was calling around to fix this HVAC unit, and he was just getting ready to go, and I said, "You know what? Come on in here. We'll write you the check." So they'll pay him right away.

The flip side is if you have good service providers, treat them really well, but demand that you get the good service. You guys know that I might be a pain, I'm going to call you to get it done, but they know you're going to get paid on time right away, and it's worth it to them. So that's definitely two things to think about there.

The other thing to think about, it's a good opportunity for us, especially if you're in the healthcare field, and really any business. Service is getting so terrible anywhere that you have to be the squeaky wheel. If you give exceptional service, it stands out more than ever. Even if you give mediocre service, for goodness sakes.

Things we talked about in my book is shop in all packages, the Dan Kennedy thing, new patients get mailed a box in the mail with a bunch of goodies in it. We give them a little welcome bag when they come in with a coffee cup and a book in it, and that kind of stuff. If you're giving above average customer service, it's going to stand out more than ever because you're getting worse customer service than ever.

So I want you to think about this squeaky wheel conversation in a couple ways. One, what vendor, supplier, or service provider are you letting get away with not treating you with enough service that you need? Maybe you've got to fire somebody like I just fired my health insurance broker. If you want to know who it is, just email me through the site and I'll let you know.

So whoever you're not getting the proper service from, you need to be the squeaky wheel. Sometimes you've just got to be on people. We ordered Leander tables a couple of years ago, some $10,000 tables, three of them. They were just taking forever. Backed up supply, and we just get in the habit of calling them. We also had an issue with the building that I'm renting for my office, and I just got in the habit of calling the landlord every week at the same time. I called him every Friday at 8:00 until it was repaired. And that's it, he's going to hear from me every week. Sometimes you've got to do that, be really tough on people, tough on vendors, suppliers. Even with your landlord. Don't forget, you're the customer if you're renting. But I do like renting commercial space, actually.

But you're the customer, they're not. So you've got to be tough on them sometimes, as well. So we've got to be tough on a supplier. We can be tougher on a vendor, supplier, or service provider that you're letting get away with not treating you with enough service.

And number two, think about how you can give better service so that you stand out. Again, it's easier than ever. Small things are going to stick out, because like I said, if you're at Target, you're checking yourself out, bagging your own stuff, waiting in line. I mean, it's kind of unbelievable when you think about it, really. You're giving them money to stand in line and bag your own stuff.

So where are you not getting the service you deserve or need and you need to be tougher on your vendors or suppliers or service providers. And think about how you can improve your customer service experience at your clinic, office, small business, whatever you're doing in order to get a little bit better referrals, retention, et cetera by getting better customer service.

So, squeaky wheel gets the grease.

Speaker 1:

Thanks for listening to Dr. J's Path to Success podcast. Make sure to subscribe on iTunes, and leave us a review. For information, please visit drjamesfedich.com. Dr. James R. Fedich, Clinic Director at Village Family Clinic. His book, 'Secrets of A Million Dollar Clinic' is available on Amazon and online at hackettstownfamilyclinic.com or drjamesfedich.com, www.drjamesfedich.com.

EPISODE 3 - Weather Permitting

- Thursday, January 18, 2018

EPISODE 4 - The Importance of Maintenance in Body, Mind, & Office Equipment

- Thursday, January 18, 2018

In this episode, Dr J discusses the Importance of Maintenance in Body, Mind, Spirit, and....Office Equipment! http://www.drjamesfedich.com


Speaker 1:

Hello, and welcome to Dr. J's Path to Success podcast. Dr. James Fedich is a successful practice owner, bestselling author and speaker. Listen in as he shares his secrets to a successful business, and a successful life. So now, here's Dr. J.

James Fedich:

Hello there, welcome to this episode. We are going to talk about maintenance today. Maintenance, maintenance, maintenance. So what are we going to talk about maintenance for? We're talking about it for a couple of reasons, couple of reasons just came up. I had a coaching client yesterday, talking to me about a maintenance issue in his office. And also, I happened to be at the dentist today, so maintenance is on my mind, that's why we're going to be talking about maintenance today. We're talking about this in a couple of different ways.

Maintenance as far as health so I coach a lot of chiropractors, physical therapists, acupuncturists. We're always talking about maintenance of your health, right? You're coming in regularly for some sort of maintenance care and again, I was at the dentist today. Dentists done this better than all of us combined so just about most people are going to the dentist twice a year for a checkup. Just there for my cleaning and check-up. I do not have any problems, anything that need to be done. But we're all just in the system of coming twice per year and basically the American Dental Association teamed up with dentists, went into the schools many years ago and basically promoted the message that we need maintenance care of our teeth and we've all come to accept this.

So the rest of us healthcare professionals certainly learn something from these dentists about maintenance. So most of us are not doing a great job with maintenance care. Even ourselves included. We could probably throw it a lot more in the office, we're actually more [inaudible 00:01:34] focused office so don't promote as much maintenance. But we certainly could promote maintenance a lot more. Most of us are maintaining our health, going to the gym, exercise and eating healthy and we're maintaining our bodies and maintaining our minds. Hopefully you're maintaining your minds with good mental nutrition with things like this podcast. Reading books regularly. Doing things to maintain your mind as well 'cause it's really important.

But I wanna talk to you more about maintenance today is more about your office. So this coaching client today was talking to me about actually muscle stim pads, funny enough. So you're going to chiropractor, physical therapy, go through those little stim pads and I'll flatten your clinic and this stim machines, if you do a lot of that. I know there's straight chiropractors, some people may or may not do a lot of passive modalities but it doesn't matter all that much, but most of you guys listen to us know what a muscle stim machine is, if you don't, it's a little stim pads that go on your back, neck, whatever else. They give you a little electric stim. Feels like electric massage, helps loosen up muscles. It can do more than that but that's the short end of that story.

So anyways, we do a lot of this in the clinic. We probably have six or eight of these machines, there's quite a few of them around. A lot of the patients do get some passive therapy at our clinic, which you can argue good or bad but anyways, we do a lot of that and we have a lot of stim machines. So the stim machines are three or four thousand dollars, depending on what you're doing. They have a little electrical wire that comes out and usually few or four electrode stim pads that go to the patient, and hook up and give them the stim. There's different stim pads that you can use, but we're not gonna get into all that.

Long story short, these machines ... they can break down, have some issues once in a while so talking to this client about maintenance, he's had some issues with the pads and using a different type of pad and all that kind of stuff. But here's what I found with these machines. I've had these machines for years, we're busy, we use them all day, a lot of patients like it. A lot of patients are on them. They always seem to break at the most inopportune time. A wires broken, a stim pads broken, something's down all the time and it's constant. You gotta get the guy out there and it's a couple days, you gotta order a stim pad, you gotta order a wire.

So eventually a few years back I just had enough of this, so a lot of times the wires lead the stim to the pad, they'll last ... depending on how busy you are, a couple years, a year. It depends on what you're doing but I got tired of the wires fraying and breaking and having problems, there's a crack, test the wire, bring the guy out. So every six months we order new wires on all the machines. I throw out all the old wires then we put all new wires in. Last thing you need is somebody getting burned on the stim wires or the machine being down in front of a busy shift so it's on our Google calendar.

We just absolutely replace all the stim wires every six months whether they need it or not, probably nine out of ten of them don't need it, but I'd rather hit that issue up before it's a problem, somebody gets burned or you get backed up on a busy day. We do the same thing with the electrodes, they may last a lot longer. I think we do those quarterly if I'm not mistaken. Weekly we clean 'em and do all the maintenance on them. Then I think quarterly, that's the Google calendar, again there's 40 of those stim pads, we're gonna throw 'em all out and replace 'em all with brand new ones every quarter I believe. Again, probably 20 of those are good and you can test them all and figure that all out but we found same deal. Throw 'em all out, it's not risk burning somebody over or having a backed up office or trying to figure out on your lunch break what's going on with the stim pads. That's' really freed us up.

So that's the kind of maintenance we're talking about. Maintenance in your practice, maintenance in your life. Same thing with your car, you know. We drive right now a Porsche and a Mercedes. Oil change on my Porsche is $1,050 per oil change and people say, what do you spend all that money for? For one, it's only every 10,000 miles on these newer cars so it's only every 10 months, eight months, I don't put a lot of miles on. But the whole car is being maintained and checked by someone who's a professional in checking Porsche's. They know how to check the valves, the stems, all the liquids, all the fluids, make sure everything's working properly and it's peace of mind. I don't wanna be broken down on the side of the road. So instead of getting $100 oil change from the Jiffy Lube who won't work on these cars anyways, that's besides the point. Pay a little more, have it maintained by a professional and I don't get worried driving around. I can drive up, going skiing up at the mountain, I can drive all over to work and not worried about the car breaking down because of maintenance issues.

What I really wanna talk about is preemptive maintenance. Again, its the dentist too, you're in there to make sure you don't get cavities. We don't wait 'til we get a cavity, we do it with our health but let's think about doing it in your life as well. So what are you not maintaining in your life, in your business and your practice or in your personal life? Is maintaining your relationships, maintaining your home. Same goes true with your house. A lot of people wait 'til things break down. Get things maintained and take care of them sometimes little maintenance issues can really be a hassle. Calling somebody to fix something that's broken when something just should've been maintained. So what do you need to maintain properly in your office?

If you are a physical therapist, chiropractor, acupuncture, a lot of people tuning in, think about some of your office equip. What needs to be maintained? Again, I just have a schedule we're throwing those wires out every six months. We're replacing the stim pads every three months whether they need it or not. It's just a maintenance issue, it gives me peace of mind, helps me sleep at night. [inaudible 00:06:02] equipment the same way. Maybe the computers are slowing down every three months, three years you need a new computer. Or you get a guy to come and maintain the computers every couple of months so it's not just always an emergency. So doing proper maintenance and make sure you don't have emergencies with your house, your practice or your life.

Same with your health. People are waiting 'til they have a heart attack to start going to the gym and most of us healthcare providers know that's not a great way to go about life, obviously, but we wanna maintain our health but exercise, gym, etc ... same so what are you doing to maintain yourself? So as you're maintaining your life, there's a lot of things I want you to think about this way.

Shoes, I just get a new pair of shoes every couple months. I don't ... get new pairs of pants. You get new clothes and they wear out. You maintain the things that you have. Makes life a lot easier, lot of stress free. I tell you that stim thing, it makes life a lot less stressful. Not worrying about machine burning someone or having an issue or going down when you last need it. You can never get the workers when you need it. We also actually have the company that does do it and they do an inspection on them every year. They come out and inspect all the machines, certify them and all that jazz as well. So that's another level of maintenance on that. That's just a couple thousand dollar stim machines. We found an ounce of prevention is worth a lot of cure. Get your stuff maintained, get your equipment maintained, your body maintained and your mind maintained.

Good positive mental trition like this podcast, others out there. Read some good books, mine's on Amazon. Secrets of a Million Dollar Practice. The updated version just came out. But how you maintain your health, your body, your mind and your practice. So just think about maintenance for this episode of the podcast.

Speaker 1:

Thanks for listening to Dr. J's Path to Success podcast. Make sure to subscribe on iTunes and leave us a review. For information, please visit DrJamesFedich.com Dr. James R. Fedich clinic director at Village Family Clinic. His book, Secrets of a Million Dollar Clinic, is available on Amazon and online at [inaudible 00:07:45]familyclinic.com or DrJamesFedich.com www.D-R-J-A-M-E-S-F-E-D-I-C-H.com

EPISODE 2 - Giving and Booking Lectures

- Wednesday, January 17, 2018

Speaker 1:

Hello and welcome to Doctor J's 'Path to Success' podcast. Doctor James Fedich is a successful practice owner, best selling author and speaker. Listen in as he shares his secrets to a successful business, and a successful life. So now, here's Dr. J.

James Fedich:

Hello there. Welcome to, this is our first official real episode. Episode one was a pilot to tell you a little bit about myself, about the podcast, about what I do, and about me. And this is our first real episode. So this weeks' episode, we're gonna talk about lectures. So I had a question, funny day, I had a question from a coaching client about doing lectures, and I actually had to do my own lecture today, so I thought it'd be a timely topic. This is what the podcast is gonna be about. Something that I see in my coaching, or in my practice. A daily, weekly thing that I see, that I think is gonna help you, and I'm gonna share it with you.

So this is about lectures. So one of the oldest practice billing methods about doing lectures and it's not just practice, again, it's anything you're doing. You're in any kind of small business doing lectures are a great way to build your business. So we're gonna talk about doing lectures. So there's a couple things about doing lectures. So I got a coaching question this morning about doing lectures, saying he's doing a bunch of lectures and not getting any patients. I asked about when he's doing at the end or the close. And basically he says "If you need me for anything here's my business card." So there's no wonder we're not getting a lot of patients out of that type of lecture. Correct?

So what I also had to, funny enough, had to do a lecture myself today in New Jersey, it is January 17th I believe, and we had about six inches of snow, so we had a weird day. Down at the doc, at the office, another doc was busy. Long story short I took a lecture and I don't usually do a lot of those, usually I'm sending people to the lectures, but I don't mind doing them anymore. I did a thousand lectures how to build a practice, so when I did a lecture I'm done for a while. So funny, got a coaching question about doing lectures and I had to do one myself.

So here's some stuff about lectures. So if you're doing a lecture, there's a great way to build your practice, it's a no cost or low cost way to get in, build your practice or any kind of business that you're doing. So how do we go about getting a lecture? So do we, most doctors want to talk about doing the lecture. How do we do the lecture? What are they talking about? Knee pain, back pain, they're concerned about the slides, spending six to eight hours re-doing the slides. I just had a PT today spending all this time re-doing the slides. The slides are probably the least important part of this whole lecture. The first important is getting them, and then the next important is really doing the close. So that's all we really should be worried about.

So first, how do we get the lectures? So real simple, best way is probably Chamber of Commerce for any of you guys, but we can go on Google, just check out local businesses. We're gonna google local businesses you wanna make sure they have at least 10 employees or more. And they're within 10 or 15 miles of your office, based on your geography. You know, if you're in New York City, it might be just a block or two.

But you wanna be sure they're local, and 10 or 15 people. If you can find out about their insurance, great. That's not always easy to do. I know some people recommend that, but depending on where you are in your practice, you get out there and do that. Even us, we have a very big practice, one of the biggest in the state. We're still out doing there.

So anyways, we're gonna call these places up and say "I'm Mr. Smith from Smith Family Chiropractic." We talk about this a little bit in the coaching call the other day. But we don't necessarily want to say Smith Family Chiropractic. So for my previous example is Village Family Clinic is the name of my office. But our actually legal name is Village Family Chiropractic. When I started the place, that's how I incorporated. As we spread to PT, acupuncture, we dropped the chiropracting and called it clinic. But legally it's still chiropractic. I mean just because our sign out front says Clinic, all our paperwork says clinic. It's a DBA, Doing Business As, all of our paperwork says Village Family Clinic and when you call you say Village Family Clinic, cause we're not just chiropractic anymore. And unfortunately 60 to 70 percent of people have a stigma against chiropractors.

So we can avoid that by changing our name. So something to think about, if your name is Smith Family Chiropractic, Smith Family Clinic, Smith Family Wellness Center. Even if you don't change your sign on the door, for getting business, businesses let you come in instead of seeing your chiropractor Smith Family Wellness Center. Is probably a better deal. I know there's philosophical debates on that, but we're not gonna get into that.

The same might be true of physical therapy, acupuncture. Other people I coach with acupuncture and PT's as well, same thing. Jones Family Physical Therapy or Acupuncture Center, we just call it a wellness center, or health center, or Clinic is gonna be a little bit easier to get in the door. But that's a whole other conversation as well. But we're just gonna call up and say "Jones Family Wellness Center. We do community outreach in the local area as part of giving back and making a healthier community. We have several health topics that we do." You may wanna have a list right there, so just have one associates get. "We have a list of our health topics, there's five or six of the topics that we do. We have only set aside a number of appointments for these, per month. We have a set schedule that we only do a couple of these per month. We're wanting to call and see if you want to get on our schedule for a free community wellness lecture next month." Something like that would be your schedule.

Nowadays you can do the same via email. You do wanna have some scarcity in there, so you wanna say "We only have so many per month." Another twist on this that we've done, we've found it's better to call it a Lunch and Learn, and offer to bring them free lunch. I'm certainly not the only one to talk about this, but again, it's somebody doing it in the field. I'm in doing it today. We actually had a lecture every day this week. Monday, Tuesday, Wednesday, Thursday. I think every day so far this week we have a talk. But, so doing a Lunch and Learn is gonna be a little easier to get in the door. "So we offer a few community lunch and learns. We'll come in and bring you and your staff a free, delicious lunch and do a community wellness workshop for you at that time. It takes about a half hour, we'll bring you free lunch. We only have a couple of slots of these per month, would you be interested in setting one up this month or next month?" Monday or Tuesday the deal will close that you guys should all know.

So that's really it. It's very easy to set them up and most of you don't need help doing that. I mean some of you do, but maybe you don't. And then we're gonna go onto the topic. So just get a couple good topics out there. Ergonomics is easy. Stress, headaches, sleeping. All that kind of stuff. Don't get to crazy. People don't wanna get to detailed. But you wanna do stress, health, sleep, et cetera. So then once we get the topic in you're gonna set it on up. Again, I do like lunch, just spending 25 ... The one I did today, we brought a couple pizzas and garlic bread. It was 26 dollars for the luncheon. I think it's a good, get your foot in the door, but again, you're right out of school that's fine, don't do it. But that is how we're gonna get into there.

So we're gonna do the talk, the lecture. Get a computer, it's worth investing in one of those projectors for a couple hundred dollars, and a screen if your gonna be doing these. But again your just starting out, just do it on your computer without the projector and then buy the projector, buy the screen. You do the lecture, the slides aren't that important, honestly. You know, that's where everybody gets hung up. Make a decent information that people want to know that you know what the heck your talking about. Hopefully you do. Read the slides, make sure and engage with the audience. You wanna look up. One of my associates did one, I have my staff film them sometimes, and he filmed it and he was looking at the computer screen way too much. We had to talk. Look down, look at the slides, and then make sure you look up and engage the audience. But you can go up there and read the slides and if they're somewhat decent, the people are gonna know you know what you're talking about. You're in their business. You bought them lunch.

There's also a reciprocal, natural tendency to give to someone who gave you back. So you gave them lunch, they kinda feel like they owe you one. So that's a good thing as well. So there's some reciprocal stuff there. Read Dr.Chow [Dih's 00:06:49] books on that. But anyway. So your gonna give em the talk, that's not that important, except know what your talking about. Read through it a couple times, make sure you don't stumble up. But engage with the audience and then, most important is gonna be the close.

The last slide on all of our slides is pretty much a picture of a box, a gift box, and it'll say "Our gift to you." And the close is really simple. Here's what your gonna say, "This special gift to you, as part of this community outreach program, we set aside this few number of complimentary health passes. We're gonna give you a free exam and consultation with one of our doctors or therapists, acupuncturists." Whatever you want to say. "During this consultation we'll spend 15 minutes with you, one on one, in a closed room with one of our doctors or therapists. Discuss any and all of your health problems that your having. See if there might be something we might be able to help you out with. If we do an examination it will include XYZ, depending on what health provider you are." You know, examinations, x rays, I don't actually recommended that, but anyways.

"Do an examination, we'll find out if your having any problems that we may be able to help you out with. If you have a problem we can help you out with, we'll let you know. If you don't, we may be able to find you somebody who can. Normally this examination compensation is 100 dollars, 150, 200, whatever it is. But as part of our community outreach we've set aside just this small number of these to do absolutely free. The only catch is you have to sign up for tonight." Or today, whatever your doing. "Set aside a small number of these appointments, and they will fill up. We have less than we have attendees and I've only set aside a small number of these. So you need to sign up today to get that free. If you don't want to do that, and you want to call us down the road, of course we'd love to see you. But it won't be offered for that free exam."

"Part of that free exam, we offer a complimentary benefits' analysis. You come in and we'll see if your insurance, if your going through insurance, what will be covered or not covered via your insurance. If you incur any charges at all. So if you come in for our free consult our billing staff will check into your insurance company, see what kind of insurance coverage you have, so if you decide to get for other treatment if it's necessary. So book that today. I'll be in the back after this." Or if you bring a staff it's even better. And then you just want to set aside less appointments than are there. So you get a little Excel spreadsheet, block a couple of slots that you know are available or you're gonna have that if your doing them by yourself. Staff members are nice, if you have someone in the back, you know, "John will be in the back to take the appointments in the back." But do it yourself, I've done it too. And go from there. And that's about it.

And that's the closing. Make the appointments. Give them an appointment reminder. I also like giving them a intake form. It's a little more of a commitment device, so they're committed to the appointment a little bit more. As well as it's just something to give them and they'll remind you and all that stuff. So give them an appointment card.

The other important thing is these people need to be pre-called. So they need to be called the night before. You also only wanna make those appointments for the next five or six days. So your not making an appointment two weeks out. So it's only good for the next week to be a complimentary consultation. Otherwise, you can make an appointment down the road and just normal charges will apply. So you wanna make the next five days, the sooner the better. And make it as soon as possible. Get that, and make sure the staff are calling them the night before to remind them.

There's gonna be high likelihood of not showing up. You gotta realize that's the game too. So it's really about numbers. So your gonna make 10 of these, seven show up, four convert or something like that. Your numbers are all gonna be different depending on how good you are and all this kind of deal. But they're not all gonna show and they're not all gonna come in, but that's okay. You're gonna get four new ones. 1500, 2000 a pop, whatever your numbers are. So we're gonna play a numbers game there.

So that's real brief on how to get lectures. So this is the close. It costs you nothing, or 25 bucks for lunch. Get these Lunch and Learns going, or just the community outreach. All it is is that script to book em. And the script to close em. That's all you need to do. The slides are very unimportant. If your a coaching client, we have slides in the system. If not, I'm sure you have something out there, or email us for more information. So hopefully that's a little bit of tips on how to do lectures. An old practice building tip, still works today, you can get a couple of people every lecture and it's a good way to build it without spending a lot of money. And you can get it started today. So hopefully this helps on how to book lectures.

Speaker 1:

Thanks of listening to Dr. J's Path to success podcast. Make sure to subscribe on iTunes and leave us a review. For information please visit doctorjamesfedich.com. Dr. James R. Fedich, Clinic Director at Village Family Clinic. His book "Secrets of a Million Dollar Clinic" is available on amazon and online at hackettstownfamilyclinic.com or www.drjamesfedich.com.

EPISODE 1 - What you can Expect from this Podcast Series

- Monday, January 15, 2018