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The Goal: Achieve Financial Freedom with E-Commerce
This episode is one you don’t want to fast forward through because we’re talking specifically about our financial freedom formula.
We’ll talk about what that is, and we’re also going to talk about the action steps that you can start taking to get there.
Episode Recap
In this season’s sixth episode, we’re talking M.V.M.I., and let’s start right there.
Here’s a quick preview…
Let’s start with what M.V.M.I. solves for.
Are you a chiropractor who consistently, month after month after month, is addicted to needing new patients?
Now, that’s not “I would like to serve more people.”
That’s not “I want to add an extra day to my schedule because I’m already at capacity and more people are suffering.”
What it is is “I’m financially struggling because people are coming in, and they’re not converting, and they’re not sticking around, and they’re not referring.”
There is a certain heightened stress level that comes with not having consistent income, right?
As a chiropractor, unless you’re getting a paycheck, you don’t necessarily have consistent recurring income.
So what we’ve done is we’ve looked at the different models and different businesses and different industries that actually are the most valuable businesses in the world these days.
"The pregnancy campaign was also big for us. We saw 2 pregnant patients in 4 months prior to TSC and last month had 10!"
Dr. Ryan Grenier, DC
Optimal Wellness
And those businesses that are at the highest value are subscription based businesses.
In other words, businesses with predictable monthly recurring revenue that power their financial freedom with e-commerce.
Most practices start from zero on the first day of the month, right?
What we’re proposing – and what we’re offering – is a way of thinking so that the first day of the month actually equates to payday.
We want you to be able to use this formula to generate enough monthly recurring revenue so that on the first day of every month, instead of going to zero, you can actually cover all of your monthly recurring expenses in that one day.
So let’s get into what our M.V.M.I formula is.
The question for you is what’s the least amount of money you absolutely must make in order to not feel financially stressed?
When you come up with what that number is, that is your M.V.M.I. – your minimum viable monthly income.
What we’re teaching and what we’re recommending is to follow us through this process of implementing and offering monthly memberships in your practice.
That starts with looking at opportunities to generate additional revenue automatically with the people you’re already serving by offering your favorite versions of the things they’re already buying.
The goal for this episode – the conversation – is what would it take for you to generate at least the minimum monthly revenue you absolutely must make to not feel stressed out each and every month on the first day of every month.
Imagine for a moment that you’re able to walk in the first day of every month every month and know your expenses are handled.
You’ve got a number that would make you not feel stressed each and every month.
We’ll help you figure it out and then figure out how to build membership programs and how to sell products and bundles so that you can actually earn that revenue on the first day of every month.
Check out this video to discover how to use our M.V.M.I. formula in your practice and our best practices for implementing membership based programs that can help you achieve financial freedom with e-commerce.
Developing consistent and sustainable chiropractic marketing tactics is key to your overall success in practice, and we’re here to help you!
Episode Highlights
- [00:00:56] The one that we find to be the other pandemic is chiropractors who consistently, month after month after month, are addicted to needing new patients.
- [00:02:46] Those businesses that are at the highest value are oftentimes subscription based businesses
- [00:04:17] The question for you is what’s the least amount of money you absolutely must make in order to not feel financially stressed.
- [00:15:03] There’s the membership option, whether it’s for care delivered in the form of an adjustment, whether it’s for a movement assessment or a rehab visit, whether it’s exercise in your in your practice, whatever it might be, there’s a variety of ways you can implement that.
- [00:16:23] This doesn’t mean that your aggressively selling any products or services, but rather that you’re teaching and inviting consistently – that you’re teaching that it’s something that is offered and then you’re inviting them to take that step if and when they’re ready to do so.
Impact Quotes
- Imagine that the first day of every month wasn’t “oh s***” day but payday.
- Hassle free e-commerce means how to generate additional revenue automatically with the people you’re already serving by offering your favorite versions of the things they’re already buying.
- By building membership programs and selling products and bundles, you can actually earn revenue on the first day of every month so the rest of the month is relatively considered profit.
- Know the difference between feeling stressed and feeling at least financially covered.
- You’ll be doing yourself and your family and your community a favor when you stop feeling monthly financial stress.
This episode was brought to you by The Smart Chiropractor.
At The Smart Chiropractor, we saw the two biggest chiropractic marketing challenges: content and consistency.
The result? More new patients, more referrals, and more reactivations with automated digital content marketing.