Cameron Hemphill, host of the “Medical Millionaire” podcast, discusses the importance of visualization in achieving business goals. He emphasizes mapping out long-term plans, such as a five-year vision, and breaking them down into actionable steps. Hemphill highlights the significance of setting clear goals, maintaining discipline, and holding oneself accountable. He also touches on the role of marketing, particularly the cost per lead (CPL) for Google ads, which is currently around $50, and the importance of conversion rates and reoccurring revenue through memberships. Hemphill encourages celebrating small wins and stresses the need for a strategic approach to business growth.

Transcript

This is medical millionaire the podcast, helping your Med Spa increase in status, visibility and profitability. Join your host as he dispels myths, shares trends and gives you actionable steps today that will take your medical practice to the next level. Here’s your host, expert marketer and founder of growth 99 Cameron Hemphill,
hey everybody. Cameron Hemphill, here your host for medical millionaire. Hey, first off, I want to thank you so much for taking the time to tune into our podcast. Our goal is to give value and insight into the medical spa market. So if you’re an injector, you’re in the esthetic space. You own a practice, you’re in the cosmetic space, dermatology space, and you’re looking to take your practice, your business, to the next level. This podcast is designed specifically for you, right? So at growth 99 we focus on marketing, marketing automation, processes, those types of things, and have a great solution. But there’s also, like, a bigger picture, right? How to control and run the practice from an automation perspective, like how to navigate those war zones that are going on in your mind. Because really, in order to have a successful practice, it’s not all about what growth 99 does. It’s really about like how you get up in the morning. It’s about how you have your time management effective. It’s how you have to know to hire the right people. Right? What KPIs are important to you? How do you move the needle? And so being an entrepreneur and being a practice owner, whether you’re getting into this space or you’re going from one location to multi or five figures to six figures to seven figures, shoot even eight figures. Like everybody has their own journey and their own process. And so this podcast is specifically designed for you, and we work with medical esthetics practices all over the country and even outside the country at this point. And so when it comes to understanding, like exactly how to help with creating content and pushing yourself to where you want to go. This, this is for you, right? So this, this journey that we go through together, is to help take your practice to the next level. And so in this particular episode, what I want to get into is really visualizations. Visualizations have been super impactful for me in my life. And so as you are, you know, seeing exactly like where you want to be when years to come, right? You kind of have to map out that plan. You have to map, map out that architecture. And what’s really important is in what’s helped me, and I know that some other entrepreneurs, very successful ones, and practice owners, they also look at visualizations, right? I’m sure. I don’t know if any of you, one of you, have ever done a dream board back in the day or something like that, right? Where you kind of have, like, that big board, and you put things on on your dream board, right? And so those are certain, certain things that you want to accomplish. Well, it’s kind of cool, like to go back and maybe bring that into your life, right? Because visualizations like what the universe is is out there to do is to help you based on what your visuals are, and then make them become a reality, right? And so something that I wanted to talk about was visualize yourself, where you will be from all your action goals and impact activities. And if you’re constantly focusing on your your visions, on where you want to be, and then you have action goals, those action goals and impact will create that activity will which will make that visualization become a reality, right? So if that’s something that you’re constantly putting out into the universe, whether you want to be from five figures to six figures or shoot, I want to open my practice, and it’s going to open on this date, at this time. And this is how many customers are going to be there. This is how many leads we are going to create per month. This is what our revenue is going to be within the first three months of opening, right? Or this is going to be exactly what we’re going to do next year. This is our total revenue that we’re going to bring in, you know, in 2022 and then project it for the next five years, right? So putting that out there into the universe will then also hold you accountable. And it may so sound corny and quirky, but if anybody’s ever read the book by Napoleon Hill, right? When it comes to think and grow rich. If you haven’t read that book, I would encourage you to do it, because it’s it’s interesting on what you put in your mind and what you put in your into the universe, what you put out there, and how that energy actually starts to come to you, right? Have you ever been in a position where you are wanting to buy a new car, okay? And maybe that’s like a black, I don’t know, Mercedes Benz or something like that, right? Who knows, but I’ll just use that for now so, and it’s something that you want now, all of a sudden, when you’re driving on the on the road, you see these cars everywhere. Well, you never notice them. Before, right? And now you, like, see them everywhere. It’s because it’s on the top of your mind. It’s because you visualize it, right? And so it’s because you put that out there, and now you’re seeing it right? So this is, like, a quick way of being, oh, yeah, that’s happened to me, right? So if you take the time, you know, in your mornings or evenings or whatever it is that you’re doing, and focus on those visualizations, you know, write them down, and then, literally, like, meditate on them, pull them into your environment. Because then what it’s going to do, it’s going to put you in a position to to focus on those hold yourself accountable. And whatever those visions will be, is you’ll have goals, and then you’ll have activities that back up those goals, right? So a goal is really just a dream without action, right? So you have visualization, you have goals, and then you basically put that dream into action with activities that will move the needle and put you in a position to reach those dreams and goals and objectives, right? And so I’ve read a tremendous amount of books. I know that forever, if you guys have tuned into my podcast historically, you know, I’m a big reader and study, you know, wealthy people and entrepreneurs, because it’s I’m curious, right? And so I know if you’re listening to this, you’re curious, you’re trying to figure out exactly like, Okay, where are you now, and where do you want to be, right? And as you start to check these goals off, as you start these visuals become reality, and you check them off, it almost becomes a check box, or like a task that you completed. And it’s, it’s interesting, because you’ll be like, Oh yeah, I accomplished that. I mean it. We almost like, forget to celebrate. So definitely take the time to celebrate those wins, because it feels good, right? You get those endorphin rushes, and it’s going to help you keep going, right? I know being a practice owner, being an entrepreneur, can be extremely challenging at times. There can be times where you say, hey, you know what I’m done. I can’t do it anymore. I don’t want to go to the office. I’m just not happy, and at that point in time, it’s good to do a reality check. You know, why are you not happy? Are you not achieving your goals? Are Do you even have goals? Are you just driving down the highway blind, right? Are you just like you’re driving there and you have no idea why you’re going there and what’s going to happen and kind of whatever shows up is how you’re going to navigate your day. You know you need to own your day, right? And so the best way to do that is really to take control your life and know exactly what your plan is and what your objective and what your why is, so you can achieve the life that you have created for yourself.
Thank you for listening to medical millionaire. I wanted to take just a few short moments and tell you all about growth. 99 University, naturally, if you’re listening to medical millionaire, the success of your Med Spa is extremely important to you, and as it should be. And if you’re listening to medical millionaire, you are obviously looking for the best, most effective ways to take your Med Spa to the next level in both profit and customer success, enter growth 99 University ranging from online education courses all the way to the full suite of marketing and web services. Growth, 99 has your Med Spa covered. No matter the challenges that you’re facing, we are ready and able to help you achieve your next level in business profit and freedom to inquire about all of our support services and products. Please visit growth 90 nine.com and while you’re there, click the university link and check out the companion course to this very podcast. Back to the show,
right? So as you’re, as you’re going through this stuff, and as you’re you’re bringing in these visualizations, right? You want to make sure that you have discipline, you have accountability, and this is something that you you have repetition, right? Because if you just do it one time, right, you’re not going to get the impact. This is something that you have to do. I would block it out on your calendar. Maybe you do it in the morning, maybe you do it in the afternoon, maybe you do it in the evening. Do in the evening, whenever is most convenient to where it’s super quiet and you can almost, just like, have a room of these visualizations, right? Whether that’s focusing on your family, it’s focusing on the practice, it’s focusing on financials, it’s focusing on health, it’s focusing on behavioral stuff. You know, you can, you can basically put yourself in that spot and mentally start to draw that stuff into your into your mind, into your body, your spirit, your soul and the universe will literally bring that to you, because it’s something that you are constantly focusing on. So if you just do it one time or two time, and you’re not accountable and disciplined to it, I’ve, read, you know, and actually seen studies that, you know, it will not work, but if it’s something that you continuously do on, you know, very repetitive basis, same date, same time, then you’re going to be accountable. Because whatever, you know, goals and actions you have from that. You’ll start to achieve, and you’ll just continue going through the path of continuing to really throughout this journey of life that’s yours, right, and continuing to achieve all of your success that you’re wanting to have, and all the behavioral traits that you’re wanting to basically bring to your life, right? You’re always trying to be the next best version of yourself, right? What is next, right? So if you can, kind of want to map out, like, a great way to do this, I think an annual thing is great to have, like those annual goals, or weekly goals, or whatever it is. But if you can basically look at your life and like a five year window, okay, so what’s coming up in the next five years? Right? Like 10 years is too, too far one year is is, like, it’s great to have goals, but it’s, it’s hard to make a massive change within one year. Like, you can obviously accomplish a tremendous amount in one year, of course. But if you look okay, take this point in time right now, if you look five years back, you know what has happened in your life from five years ago to today versus one year ago today, right? It’s drastically different, right? So if you can, if you want to map out your life and you want to design it for you, you should have that five year plan. So from now until five years, you can create those visuals right on exactly where your practice is going to go, where your family life will be, where your spiritual life will be, shoot, where everything will be. I mean, your health, right? All those, all those types of things. So what’s ever most important to you? Get it out there, bring it into your life, be accountable, and then have task management that associates with those dreams, right? So let’s just break this down. So if one of your goals is to say, Okay, I want to have a million dollar practice, meaning you bring in what 80 90k a month in revenue, something like that. On the top line, let’s just do a 10,000 or $100,000 number per month. That would obviously bring in 1.2 million per year. But if you hit that target, what do you have to do to hit that target? Okay? So now you’re like, okay, cool, I want to have a million dollar practice. Okay, cool. There’s your visual, right? Million dollar practice. Million dollar practice. You’re thinking about, it’s in your mind. Maybe you write down, you know, $1 million on your on your wall, in your your office, your practice, your home, on your mirror when you’re getting ready, right in your car, whatever it is, right? So that’s the visual. Okay, so that’s it. Now you’re gonna hold yourself accountable. Well, how do you get there? How do you achieve that? You know that you have to, then start thinking, you have to break it down. And what that’s going to do, it’s going to say, Okay, if this is my dream, how do I make this dream a reality? Okay? So then you’re going to say, Okay, well, I basically I need to sell X amount of product, which means I need to see X amount of patients, which means I need to get X amount of leads. Okay, so if you’re driving traffic to your website, or you’re doing social media, you’re doing Pay Per Click ads, SEO, those types of things. And I’ll kind of tie this interest to a little bit of marketing for you today, but now you can have realistic KPIs on how much you have to invest from a marketing standpoint to get those that sales output right. So currently, what we’re seeing right now, right is basically like Google Pay Per Click ads as of right now, nationwide, it’s right around a $50 cost per lead. So if you’re investing in Google ads, if you spend $1,000 a month on Google ads, for example, you can plan on getting 20 leads. Okay, because it’s a $50 CPL, well, you’re not going to convert all those leads, right? We typically see about a 30% conversion factor on practices that have good systems, good processes, good follow up, good templates, good SMSs, text messages, people that actually pick up the phone, you know, move the needle. So if you can convert 30 of well, if you have a cost per lead of 50, you bring in 20 leads, you’re converting at 30% the yield on that is right around eight clients per month. Okay, so now you got to ask yourself, How much am I charging per client? Okay, if you’re charging each client, let’s just call it $1,000 I’m literally just like using numbers here to make my math easy, because I’m not writing this down, but if it’s 1000 that’s going to bring in $8,000 a month in top line revenue. Okay, so now just go run the math. So you’re now going to want to break down, okay, where are my patients coming from? Internet leads, word of mouth referral, social media leads, search engine optimization, leads based on organic search repeat clients. How many people do I have on memberships? You know, memberships are huge, because that creates the reoccurring revenue, right? And so you’re not starting your next month at Ground Zero. Big fan of memberships and reoccurring revenue. If you guys have listened to some of the episodes prior, I definitely talk about that. And then obviously, you know, rebooking people in the upsell. So these are the hard. Questions you have to ask yourself is, as you have these visuals, and let’s say your goal is to get to XYZ in revenue or whatever it is, right? You need to basically break down the math. You need to do the math so you’re not just throwing something at the wall and hoping it sticks. I mean, I could say that I’m gonna, you know, bring in a million dollars into my practice all day long, but if I just sit on the couch and watch Netflix and chill like nothing’s gonna happen, okay, right? So you have to take accountability, and you have to map out your plan and how you’re gonna get there strategically. Okay, so the best way to increase your revenues to your practice is going to be investing in marketing, investing in exactly like systems, tools, processes, right? And then you have to play defense as well, right? Where can you cut costs? Where can you automate things? How can you streamline the process, right? So it’s like, it’s almost like playing chess, right? It’s really more of a, more of an art, right? That you kind of have to self navigate. But I had a really good mentor at one point in time in my life, and he, he said something that always stuck with me, that was, sales cures all problems. And then, if you know what your margins are, you can then basically figure out exactly, okay, what is the top line, what’s the bottom line, and then you can execute on that plan. So some of the most successful practices that that we work with, they can forecast our revenues, usually about four or 567, months out, sometimes even eight to 12 months out. They can forecast like they could basically count on knowing what’s, what’s going to happen, unless there’s some, you know, outside third party thing with the economy or something that takes place, right? There’s, there’s obviously not a perfect crystal ball out there, but you can basically gage what’s gonna happen in your future. Okay, so that’s what I have for you guys today. Hopefully you got a tremendous amount of value out of this episode. Thank you so much for tuning in listening to the content, tuning into medical millionaire again. This is Cameron Hemphill. If you found this content valuable. Let’s share it. Keep the conversation going. You can head into iTunes. You can head into Spotify. Also, if you guys want to connect with growth 99 we’d love to chat with anybody who’s interested in learning more about marketing and stuff like that and marketing automation. Until next time, happy injecting you.