In this eye-opening episode of Medical Millionaire, host Cameron Hemphill reveals the three crucial elements that can transform your medical aesthetics practice: People, Process, and Product. Drawing inspiration from successful entrepreneurs like Marcus Lemonis and Jack Ma, Cameron breaks down how these principles can elevate your med spa to new heights.

Episode Highlights:

Cameron shares invaluable insights gained from consulting over 600 medical spas across the United States. He breaks down the strategies that separate thriving practices from those struggling to keep up, emphasizing the power of execution and action in achieving business goals.

Hey everybody. Cameron Hemphill, here your host for Medical Millionaire.

Hey, first off, thanks so much for taking the time to listen to our podcast. Our goal is to give insight and value into the medical spa market. So if you own an esthetics business in the cosmetic space, health wellness, we’re here to help growth 99 we are a full digital marketing ad agency for everything medical esthetics.

And throughout our experience in consulting over 600 medical spas throughout the United States, we have heard just about every story. I have heard folks that are trying to get into the space. I have heard people that are doing six figures, seven figures, multiple seven figures now having very successful YouTube pages that are actually paying them income from all the content that they create. So now they have brick and mortar business, which is medical esthetics and also generating online revenues.

So I’ve seen everything in a lot of technologies, lot of integrations, websites, social media, how to get Google reviews, the ones that have just basically figured out how to run a practice like a business, and we see other ones that are struggling. In fact, I talked to a lady the other day that has been in the business for nine years, and she is now starting to lose a tremendous amount of market share due to competition, and we were chatting, and it was very clear to me on why she was losing market share, and I could see that pretty clearly, and I know why I could see it.

The reason why is because I’m not in her business every day, right? I’m in her business for about 30 minutes asking her very in depth questions, and it was interesting for me to just quickly observe, calibrate and understand, I know why you’re losing market share, right? And a big part of it was, you know? She says, Well, I’m old school, and I don’t really believe in social media, and I don’t like posting, and I don’t have an Instagram page, and I’m not one to come here and say, you have to have an Instagram page and social media in order to maintain business, right?

That’s that’s definitely not what I’m trying to say. But what I’m conveying is I pulled up all of the other competition around her, and I pulled up their sites and pulled up their social and pulled up what they were doing, and they were very agile and quick to come up on the map. Implement a business, have a robust website, have online booking, have a beautiful Instagram page, have a ton of Google reviews, and they’re already out ranking her.

So I’m like, Well, you’ve lost real estate space on the internet. There is competition like this industry is exploding, and the people in this space are pretty dang savvy, and a lot of them are hungry, right? And so throughout that quick conversation, I was able to just give her, just a little bit of advice. She’s not even a she’s not even a client. We were just having a candid conversation, and I hope she she got a lot of advice from what I helped implement with her.

Now, part of it also actually execution, right? So you could, you could get the, get the detailed map and not use it or use it, right? You can read a book and either take action and implement strategy, or you can just receive the information and do nothing. Fact, I see that all the time. I see people that love to read and don’t take action. So you know, it’s important to like, consume and observe and in cultivate what you’re learning, and then the most important part is execution and action, right?

So, like a lot of people that I follow, have said, You know what a goal is a dream without action, and there’s so much truth to that. So throughout this journey together, we want to help you take your practice to the next level. And in this episode, I want to talk about something that I have a lot of passion about, and it’s pretty simple. And there’s a gentleman out there that is a entrepreneur that I have admired over the years.

His name is Marcus Lemonis, and some of you may know him. Some of you don’t. He actually does have a show on MSNBC, or he did I haven’t seen in a while. It’s called the Prophet, actually. You, that was the name of it. And he had started a company. He’s been an entrepreneur ever since he was a little boy, and traveled here from Lebanon. And if you know anything about Lebanon, like you, can be extremely poor over there.

And he grew up extremely poor. His family fought to come to America, to live the American dream put him in a position to basically see that through like that was their vision, right? And he started a company called Camping World, and it’s in the RV business.

And if you look him up on paper and net worth, it shows he is a billionaire, and he owns a tremendous amount of companies and just a serial entrepreneur, but his flagship was camping world, which put him in a position to spin off profits and then do other things as well, and invest in companies and in other things.

And so he always talks about something on the show that I’ve watched, and also in reading about him and following his content, there’s three things he focuses on, and he brings it up all the time, and it’s people, process and product. And so I want to drill into those three components, and in what my takeaways were from, where he talks about it and how you can effectively implement this into your practice to help take things to the next level. So let’s talk about the first thing. First thing is, is people okay? And if you just take that specific vertical of people, your business has to have people.

You need to surround yourself with talent. You need to surround yourself with people that execute. You need to surround yourself with people that look at you as a leader and you look at them as a leader. How can you learn from them? How can they learn from you? And how can you be accountable to each other? Okay?

So, another entrepreneur that I’ve seen talk about this a lot is Jack Ma. Jack Ma is the CEO and founder of Alibaba, big Chinese like the Chinese Amazon conglomerate, right? So, and he’s had his challenges shoot back in the day, Jack Ma worked at a restaurant. He got fired from a restaurant because they said he was not capable of doing just simple Monday tasks. And now look at him, right?

He’s a multi billionaire, but what he’s always said was, I own a massive technology company, and I don’t know anything about technology, and I’m like, I’m just so baffled by that, like, how do you own a huge technology company and you don’t know anything about technology? And what he said was, it doesn’t matter how you get there be first, and surround yourself with people that are smarter than you, and get those people to work together, and he’s created something just amazing, right? And so I’m a big believer in that, that if you have the right team that surrounds you, you have the right desk, front desk person, you have the right injectors you have.

If you have the right team that surrounds you, you have the right desk, front desk person, you have the right injectors, you have the right medical director, you have the resultant you have the right consultants, friends, family, who you who you follow, who you read about, who you surround yourself with, right, like like you are, who you surround yourself with.

And if you surround yourself with people that have the same admirations and dreams as you do, then you’re going to create this positive energy and flow that just puts you in a position to excel, right? And so people are extremely important to this entire ecosystem and network of creating a very sustainable practice and ran like a business. And if you find yourself working with the wrong person, I’ve always. Said this be slow to hire and quick to fire.

Okay, don’t let them linger. Don’t let them stay around. If there’s no value, they’re not offering value. It’s time to cut the ties, right? Because you’re the one that’s liable. The liability is on you. If revenue slows down, if cash flows slow down, if profits decline, I mean, you’re on the chopping block as well. This is your baby. You spent the time, you spent the effort, you spent the energy, you show up every day.

Make sure you make the right decisions. Surround yourself with the people that matter. Surround yourself with people that are going to help continue moving the ship forward in the right direction, and also understand the dream for longevity. Okay, so let’s talk about process for a second. And I talk about process like, constantly on my on my podcast, and that’s because I’m a big believer in Process automation, with with tools and technology.

But what is the process like? Let’s talk, let’s like, let’s table technology for a second. What is the process? Okay, when, when somebody comes to your facility, when someone shows up, what’s the process? Is it the exact same flow, as if they were to go to McDonald’s in California versus China? Is it the exact same process? Is it the same menu, are they greeted the same? Are they checked out the same, right?

So, so what is that process? And you really should have a handbook and a process streamlined whiteboard where that you can map out and make sure everybody is speaking the exact same language, okay? And what I mean by that is, if you have a definition of a lead and where they’re at within the lead, like prospecting process, and there’s different stages. Everybody needs to know the same definition, same thing with a client, same thing with a past client, and make sure everybody in your team knows exactly how to use all of the tools that you have. Okay, so in this is something that you should like almost have a stand up meeting about every morning, maybe even a weekly meeting to go into more deeper detail.

But what is the process? What is the process? And then make sure that your management team, your office administrators like know that process in and out, because once you have a very defined process that can’t be broken. You can actually step away from the business for a second, and it will run without you. And you can go take that trip that you want to. You can stay home if you want to.

You can go play golf, whatever your hobbies are, right? You want to spend time with friends, family, whatever you want to do you want to, you know, go on to the park, read a book. You have to implement a process so things can’t be broken, okay? And if you’re, if you’re, if you find yourself like, Hey, I’m gonna take tomorrow off, or Mondays, or my day off, and your staff is constantly calling you, what do I do here? What do I do here? That means you don’t have a process.

Your or your process is broken, and you may think you have one, but it’s broken. So it’s time to implement a process and you could leverage. It’s hard for me to like not talk about tech, because you can leverage tech and basically automate the entire thing, introduce it, architect it, and then deploy it into your your organization.

So process is extremely important, because people want the same experience, right? So especially, let’s say I show up for a service treatment, Botox, for example, and I the process was great from a consumer standpoint. Loved it. You rebook me for six weeks. I go to a different injector for whatever reason, maybe that the injector I like was out of town, I don’t know, but the process was different, and I didn’t really like it as much as I did the first time, right?

That’s why it’s important to have the same process so people have the same customer experience. It’s all about customer experience, okay? And so the next thing I want to talk about is product okay? So I know by talking with all of you or individuals that are listening to this that I haven’t yet spoke with, that you are firm believers in your product, like you have tried a lot of things, you’ve tested a lot of things.

You know what works? You know what doesn’t work. You’ve experimented on yourself, you’ve experimented on your loved ones, your friends, your family, you know what process works, and you know your product very, very, very well. And so once you know your product as well as you do, and you are a firm believer in that product, then it’s very easy for you to turn that product into profit and how to monetize it the best way possible.

So if it makes sense for somebody to come in and get a service treatment done, and you knew you do need to advise them on different products and services and how to basically get them to. The results that you know they’re seeking. You need to know that product, and you need to know how to implement it, and you need to know how to you if you are a firm believer in it, it doesn’t come off as salesy, and it never should. It should come off as consultive.

It should come off as you’re the expert, and they’re in your environment and you’re here to advise them, just like if you were to go talk to like an investment banker or a financial planner, for example, like they’re the expert, right? And you need to realize and take accountability that you are the expert and you’re here to assist them, right and to move the needle. So that’s what I wanted to get through today.

Thank you so much for taking the time to listen to Medical Millionaire again. This is Cameron Hemphill.

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