#147: Losing $50,000 Every Month to $23,000 Profit in 60 Days / Increase Profits / Next Level Pros Podcast
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What is the main topic of this episode?
That sounds scary, Chris.
One problem is you do not have visits. You have a cost of marketing, a cost of acquisition that scales, and you have $23,000 extra from this last month. The best advice I could give to you is spend $23,000.
How did joining the Next Level community change Amber's clinics?
That sounds scary, Chris.
Can I give you a recommendation there?
What key implementations led to Amber's financial turnaround?
Yes. Are you going to tell me not to do that?
Don't do it.
Oh, really?
Amber, thanks for joining us today on the show.
How can accountability improve clinic performance?
Yeah, thanks for having me.
Excited to have you. So Amber, can you give us a little background? I know you own podiatry clinics, and can you give us a little bit more color behind that?
Yes, we own three locations of podiatry clinics in Portland, Oregon. My husband is a podiatrist, so he's one of our doctors. We have two other doctors in our other locations, clinic manager, billing manager, and then staff.
So you've got a lot of interesting things and I'll just like kind of point them out and then we're going to dive into them. So like one, up until you joined the Next Level community, you were losing money and we've seen some really cool things and we're going to talk a little bit about that, how you've been able to turn that around, make some money. But yeah, so you've got some really, really cool things going on in the business. Can you give us like, give us a little bit more color? So you joined the Next Level community back in, was it February?
I think February, yeah.
Okay, cool. And up until February, what was taking place in the business?
So it's me and my husband running the business and trying to figure it out without any idea of what we're supposed to be doing. And so it literally was like fighting fires every day and trying to... I guess I listen to a lot of podcasts, and so I thought that I knew... kind of what I was talking about, but I really just had no idea. So we weren't profitable, no accountability in place, just like kind of a disaster.
Yeah, I'm looking at a P&L from January 1 to March 31. It looks like you guys had a net income of negative or a net operating income of negative $144,000.
Yep. That's about, that's about right.
And so obviously that, that hurt cash quite a bit.
Yes. I mean, yeah. And then at that point it's like desperation mode. You have no room to invest in marketing or, or anything. Yeah.
And so around this time, while you're going through like this cash crunch, um, I believe you had reached out to me or how did, how did we get connected?
Yeah. So I heard you talk at a Kyle Mallion event. You didn't pitch anything. You kind of just talked about basic business principles, life stuff, and I loved your vibe. So I followed you on Instagram. And then, you know, kind of during this, at some point you started talking about the community. I previously didn't even know that you had a community, but it was your AI. You were talking about like AI tools and how to incorporate AI in your business. So I reached out and
Yeah, awesome. So I know that was around February. And so at this point, you're negative cash flow. You're struggling. You're listening to different podcasts, trying to figure it out on your own. One, why would someone in a position like that even join our community? If one, you can't even afford to pay your own bills. Why would you fork out money to join? And I guess walk us through what you had to overcome to be able to make that jump and what it's looked like since then.
Yeah, so I think that we knew that we were going in a bad direction. And so we had to do something drastically different. And education has always kind of proven for me to like be what I'm, I love educating myself. And so I wanted to be in a community with someone who had been there, done that. You talk a lot about your bankruptcy and like, I knew that you were in the hole and you got yourself out of the hole. And so I was in the hole and I could either try to figure out how to get out of it myself or speed up the process and follow in your footsteps. Um, so it was, it was really scary. I mean, it was a heavy lift for us. We took money out of our HELOC in order to join the community.
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Chapters
8 chapters
1
What is the main topic of this episode?
0:00–0:15
2
How did joining the Next Level community change Amber's clinics?
0:15–0:20
3
What key implementations led to Amber's financial turnaround?
0:20–0:31
4
How can accountability improve clinic performance?
0:31–4:50
5
What marketing strategies helped increase patient visits?
4:50–6:14
6
What is the significance of understanding key metrics in a business?
6:14–8:07
7
How do compensation structures affect staff motivation?
8:07–9:55
8
What are the best practices for marketing spend in a clinic?
9:55–1:04:11
Speakers
3 identifiedMore from Next Level Pros
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