This week, Braden and Meghan are giving you the reality check you need in relation to money and your practice! They’re counting down the top 10 things to consider when it comes to running a business and what you need to keep in mind when it comes to opportunity and profitability.

As a practitioner, it is key to work smarter; not harder — so tune in to get the 10 reality checks you might need when it comes to running your business!

Key Takeaways:

[:07] The different profit margins for practitioners, clinic owners, and the online space.

[4:10] Welcome back to the Virtual Practice Podcast!

[4:42] About today’s episode.

[5:35] True or false? “You’re going to make a minimum of six figures in your first year of practice.”

[7:04] True or false? “Clinic owners make all the money.”

[7:43] True or false? “You’ll make money in your first month of practice.”

[8:38] True or false? “Rent is better than split.”

[12:10] True or false? “Making more money means working more.”

[14:24] True or false? “If you don’t work, you don’t get paid.”

[15:42] True or false? “I don’t need to know my numbers. The clinic will do it for me.”

[16:06] True or false? “I make the most money from my intakes.”

[17:22] True or false? “I don’t need to market my business.”

[18:29] True or false? “Working as an associate with an awful clinic owner is a good reason to open your own clinic.”

[19:44] Meghan’s three big takeaways.

[21:08] About next week’s episode.

[21:19] Regardless of your background or credentials, if you want to build a practice or business that creates impact and health for others, Meghan and Braden are your team!

[21:30] If you are looking for a place to see patients and you don’t want the hassle of contracts, rent splits, or commitment, head on over to HealthHives.com to create your free account!

Mentioned in This Episode:

The Virtual Practice Podcast Ep. 30: “Financial Literacy Dos and Don’ts with April Stroink”

HealthHives.com/Calculator

For More on the Virtual Practice Podcast:

Visit HealthHives.com/Podcast and join us on Facebook and Instagram @HealthHivesCo.

For future episodes, visit HealthHives.com/Podcast!

Tweetables:

“Want to know why everyone’s moving into the online space? Because you can literally create scale because it doesn’t cost you more to make more online courses.” — Meghan Walker

“The smart way to make more money is to leverage your time, leverage your methodology, leverage your reputation, leverage your book, leverage your course. It’s not more work; it’s different work.” — Meghan Walker

“Work strategically. … Lean into diversifying your income as quickly as possible within your practice. ” — Meghan Walker

“Tap into why you’re doing what you’re doing.” — Meghan Walker