Watch Me Fix a Stranger’s Business in 42 Mins (Step by Step)

Summary

• I helped Raymond, a chiropractor, who has six locations and $5.2 million in revenue, and 23% net profit figure out how to grow his business more.
• Raymond's business uses a buy expansion strategy, which means he purchased his locations rather than building them from scratch.
• For growing the business, two major strategies are expanding the lead flow and improving the sales process.
• Moving forward, Raymond wants to reach $5 million in EBITDA and potentially sell to an institutional buyer.
• His clientele is primarily 35 to 65-year-olds dealing with pain, with a business model of offering insurance-based and cash-paying treatments.
• He effectively closes leads with a 71% rate, which shows the market’s willingness to spend more.
• The business should consider increasing advertising spend, particularly because their return on Google ads is very high.
• A good sales process can address patients when they're in most pain, increasing the likelihood of more significant purchases.
• Creating set procedures and reducing time delays in the sales process can lead to more efficient operations.
• There’s a need for a better ad strategy on Facebook, clearer calls to action, and possibly adopting techniques from high ticket agencies.
• By prioritizing medical insurance verification earlier in the process, sales can be made more seamless, reducing stress on the sales staff and doctors.
• Low-ticket offers like $29 x-ray evaluations can increase show up rates significantly by making a pre-payment process.
• Implement and test a structured sales process at one location before rolling it out to all.
• Boosting local SEO for geographical locations will be key, as this can yield high returns over time by capturing local searches.
• All these changes could double the revenue and lead flow, with potential efficiency improvements leading to revenue doubling without opening new stores.

Video

How To Take Action

I suggest starting by boosting Google ad spend since it's been very successful. If you put more money into it, it could really help bring more customers through the door. Also, test a low-cost lead magnet like offering a $29 x-ray or consultation. This small charge gets a commitment, which can make people more likely to show up.

Next, clean up your Facebook ad copy. Make it direct and clear who you’re talking to and what offer you're giving. Look at successful high-ticket chiropractors for inspiration.

Streamline your sales process by getting insurance details from potential clients before they come in. This can help speed things up when they visit. Also, print out insurance plans every morning for each day's patients, so you have everything ready when they arrive.

Train your sales team with scripts or checklists to ensure consistency. A smooth, step-by-step process means fewer missed opportunities. Test this process at one location first before rolling it out elsewhere.

Invest in local SEO. Improve your website so it shows up in searches for each of your locations. It's a longer-term project, but it can hugely increase the number of people finding you.

These changes could significantly boost your lead flow, sales, and overall efficiency. You might even double your revenue without opening new stores. Prioritize these steps to get the most out of your current setup before looking to expand further.

Quotes

"All paths lead to building a better business"

– Alex Hormozi

"You want it to be easy, you want it to be fast, you want it to be risk-free"

– Alex Hormozi

"Sales you want to sell at the point of greatest pain, not the point of greatest satisfaction"

– Alex Hormozi

"You absolutely can run a 10-to-1, 15-to-1 on Facebook if the offer is right"

– Alex Hormozi

"It's better to appeal to policy"

– Alex Hormozi