Medical Empires12 Jul 2024

Facts Are Friends - Ep 58

In today's episode, we're going to talking about feelings and facts. People feel all sorts of things: they feel like the Earth is flat, they feel like everyone in America should get a standard minimum income, and they even feel like, despite having the body of a man or a woman, they're actually a dolphin. But as it's often said, facts don't care about your feelings. This is absolutely true in business. If you want to succeed, you have to operate on facts, not feelings.

At Genesis Lifestyle Medicine, we thought we were thriving in laser hair removal with fully booked machines at 12 locations. However, after our CFO analyzed each service's profitability, we found out that despite appearing successful on the surface, laser hair removal was actually losing us money. We had to hire more staff, allocate dedicated rooms, and incur high marketing costs. Once all expenses were accounted for, each machine was costing us $14,000 a year, leading to an annual loss of $170,000.

To improve profitability, you need to analyze each service individually. We eliminated laser hair removal and saw a 20% increase in net income. This also allowed our team to focus on more profitable services. Operating on facts, not feelings, is crucial in every area of life. It may hurt to face the truth, but doing so helps you and your business get better. Facts are your friends; they help you improve and succeed.

Welcome to The Spinoso Podcast hosted by CEO, doctor, comic book geek, and car guy, Alex Spinoso. I help people and companies grow - especially in the medical business. While my experience and expertise is in scaling all types of medical businesses to 7, 8, 9-figures or more, I can be a mentor to anyone who wants to take ownership of their lives, become a better leader at home and at work, and overcome any obstacle that stands in their way.

(0:00) - Intro

(1:38) - Feeling vs. facts

(5:03) - Focus on what scales

(7:02) - Facts hurt sometimes

(7:45) - Operate by facts

(8:11) - Conclusion

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(300)

Your ADHD Isn't a Disorder. It's a Ferrari Engine With No Track - EP 309

When I was a kid I got diagnosed with ADD. Back then they called it something else but the story was the same. I couldn't sit still. I couldn't shut it off. My brain was going a hundred miles an hour ...

28 Aug 7min

The Warm Body Trap That's Quietly Killing Your Clinic - EP 308

Picture the Trojans, ten years into the war. Ten years of dead sons, food running low, hope running lower. Then one morning the Greek camp is gone, the ships are gone and standing at the gates is a gi...

26 Aug 20min

The One Broken Detail That Defines Your Whole Business - EP 307

I was driving with a buddy a while back and we pulled up next to a Nissan Versa. Out of nowhere he goes, how much you want to bet the rear passenger hubcap is off? I said what are you talking about. H...

14 Aug 8min

You Become What You Tolerate in Yourself - EP 306

It's 11:14 at night. You're in bed, phone in your hand. You told yourself two hours ago you'd be asleep by 10:30. You're not. You scroll one more reel, then one more. You check email even though nothi...

7 Aug 7min

My Mom Has Dementia, What It's Teaching Me About Life - EP 305

With dementia you don't lose someone all at once. You lose them a little bit at a time. Some days my mom knows exactly who I am. Some days I'm just a kind face sitting next to her. And that has forced...

31 Jul 9min

The Membership Mistakes Costing Your Clinic Six Figures a Year - EP 304

Can you say out loud right now exactly how much money is going to hit your account next month? Not a guess. Not "it depends on how busy we are." An actual number. Most clinic owners can't. And that on...

28 Jul 19min

The New FDA Peptide Rules Every Med Spa and Clinic Owner Needs to Know

The FDA just reclassified peptides and it is going to reshape how med spas and medical practices operate in 2026. In this episode I break down exactly what the new FDA 503A peptide rules mean for your...

22 Jul 48min

Your Standards Should Not Depend on the Scoreboard - EP 303

Mexico had already won their group. They rested players. So why did they play like it was the final? I flew to Mexico City with my wife to watch that match and I walked away with a lesson about discip...

18 Jul 8min