#172: Beyond Beauty And The Restor Revolution: Inside The Vision Of Two Trailblazing Sisters

Episode Transcript
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Speaker 1 (00:03):
You're listening to Medical Millionaire, your podcast for medspot owners,
medical aesthetics, cosmetics and elective wellness entrepreneurs. Each week, we
dive deep into powerful marketing strategies, proven scaling tactics, and
the secrets to attracting high end clients, all while staying
ahead of the latest industry trends. Join us as we

(00:25):
uncover insights from top industry leaders to help you boost revenue,
enhance patient satisfaction, and master the art of marketing your practice.
Hosted by Cameron Hanppill. With over a decade of experience
in the aesthetics industry, Cameron has supported thousands of practices
and providers, working with some of the biggest names, most
well respected brands, and elite industry thought leaders in the field.

(00:46):
If you're ready to level up your practice and become
a true medical millionaire, this is your podcast. Here's your host,
Cameron Handpill.

Speaker 2 (00:57):
Hey, what's up everybody? Cam Hempill Here your host the
Medical Millionaire podcast. Hey, thank you so much for taking
the time to tune into the podcast. Our goal is
to give incredible value and insight for practice owners. So
if you're thinking about becoming a provider or a practice owner.
You're looking to scale your practice and run it effectively
like a business as it should be. Every single one

(01:18):
of these episodes they are one hundred percent designed for
you and to help take your practice at the next level.
I have two incredible guests on today, guys, and they
have had this practice for almost fourteen years. They have
multiple locations, they have big plans. They come with tremendous
backgrounds and experience, and before we started recording, we were

(01:38):
just talking offline. They truly have what it takes to
run a practice like a business. They understand the clinical side,
the business side, the marketing side, the finance side, and
the best part is their sisters. They do everything together
and one has a great background in law. The other
one is the MD. And so I want to welcome

(01:59):
today doctor Waples and Dominate to the show. One is
a CEO and the other one is the empty Thank
you so much for joining me.

Speaker 3 (02:06):
Pleasure to be here. Yes, Cam, thank you for inviting us,
for looking forward.

Speaker 2 (02:09):
To this absolutely. I know you're coming in from Montana.
You guys are taking a little bit of break from
the practice and this is a great time to do it.
But you know, before we jump in, give us some background,
like you guys have something special here and and maybe
you don't put yourself enough on the back, but having
a practice for as long as you have and having
this partnership as be successful as you have, it's it's

(02:32):
very eye opening and I think for the audience it's
well deserved to understand how you did it, a little
bit about your background and where we're headed.

Speaker 3 (02:40):
Okay, you.

Speaker 2 (02:46):
Dominate, you go, you go first.

Speaker 3 (02:49):
So you know, we have been partners for a long time,
and we've actually been partners since I mean, let's go
ahead and say it. Uh, you know, she was born
when I was two, So it's been it's been many,
many years of partnership in the sandbox school, right through

(03:13):
a first our first couple of businesses that we started
in college, and then in the last fourteen years when
we have started, you know, a true partnership and practice together.
I like to say we founded restore because I was
thirty three. Yeah, we discovered our first things. Yeah, we

(03:34):
discovered our first rink on. It was intolerable, I tell you.

Speaker 4 (03:40):
I went to a friend of mine who I actually
worked with in residency, who had a medical aesthetics practice,
and she did my talks and I was like, we
came home and I was like, I could do that all.

Speaker 3 (03:53):
Yeah, But we always knew we wanted to have a
business together.

Speaker 4 (03:56):
That was something that we always we always knew that,
and so when we kind of stumbled onto medical aesthetics
because we were getting old, it to go a natural
place for us to work together because we understand our patients,
like our patients is us. They are democratic women in
between you know, thirty five to fifty five professionals like
with kids, that's us.

Speaker 3 (04:16):
So it was very easy for us in that way.

Speaker 2 (04:20):
I feel that's common. You know, it's like everybody, I
feel like falls into the space for one reason or another.
I mean, I know I certainly did, just through helping
a gentleman acquire MEDSPA years ago. I didn't even know
what it was. Back then, we used to call them
medi spas. This was in like twenty fourteen. Do you
remember that. Yeah, I'm so glad that went away. It
was like medi SPA, then it went MEDSPA. Then it's

(04:41):
like medical aesthetics now, the whole wellness side. So it's
it's changed a lot in a very short period of time.
But Dominique, you also have you've been a prosecutor, you
come with a wonderful background when it comes to transactions,
I'm sure, negotiations and carrying the practice as a CEO.
So talk to us a little bit about that.

Speaker 3 (05:01):
Well, you know, when we started Restore, I thought that
there was going to be much more crossover in my
experience than there has turned out to be. Frankly, like
every other business owner, every other entrepreneur, we both thought
we knew a lot more about what we were getting
into than what it turned out to be. I can

(05:28):
the things that have translated the best for me. There
are really only two things, and the first is knowing
how to ask a good question, because really being a
business owner is about being a lifelong learner and figuring
out yea and figuring things out, so shutting your mouth
and asking good questions. And the second thing I learned
and I can, I can honestly say this one came

(05:50):
from law when I was in when I was in
law school, interrogation skills.

Speaker 2 (05:55):
You never know.

Speaker 3 (05:56):
When I was in law school, I had a professor
who would I was in a trial practice, you know program,
and I remember her saying, listen, all of you think
you're hot shots. You know, every one of you in
this room thinks you're such a big deal. But when
you walk out of this institution, you will have nobody
else is going to tell you what to do. You

(06:17):
don't have professors, you don't you know. What you have
is the ability to ask a jury how you did.
And that's it, right, And so after every file, whether
you win or lose, it's so important that you go
stand outside that jury room and you wait humbly right
for them to grow so you can ask them how

(06:39):
you did. And when I think about the way that
translates into business, you know, sometimes we go into business thinking, well,
I'm going to go out on my own. No one's
going to tell me what to do. I'm going to
make all the decisions. It's all about I mean, frankly, me, right,
That's what it's about. It's about me. I'm brilliant. I'm brilliant.
And then you get you get into it, and you realize,
now it's about asking the patients what they think of

(07:04):
me and how we did and how the practice is going.
It's about asking employees how things are going, and you
know what the culture is like and how they're doing
and how things are at home, like I think, it's
it's very humbling, actually, but that's what I brought from law. Yeah,
I have no finance, no marketing, no operations. Those I

(07:29):
had to figure out what I got here.

Speaker 2 (07:32):
It's, you know, it's humbling to hear you say that.
You know, it's I think as providers, business owners in general, providers,
practice owners, we need to do a better job of
asking our patients, our employees how we're doing and survey
them and take that feedback serious. And you know, if
we if we don't, we almost think we have all
the answers and we're just really run around with their

(07:52):
blinders on. And I think there's tools out there. You know,
you can collect feedback, you can get Google reviews. I
think you guys are obviously very familiar with how to
do that, how to automate that process. But it's deeper
than that, you know, It's it's truly having the the
intimate conversations how are we really doing? I mean, you
could send you could use survey monkey, send out a thing,

(08:13):
and that's effective for collecting feedback for sure, but you know,
you the way that you spoke about it made me
think that you're you're very concerned about the intimate conversation
and collecting that feedback and then implementing better practices into
how you guys have built restore and you have a

(08:36):
wonderful brand. You've spent a lot of time on your website, Yeah,
your social media, you guys have done an incredible job. Yeah,
It's it's not easy to do, you know. And I've
read a lot of your content and and just the
words the about us and what makes you different in
your value proposition? You You've You've taken a tremendous amount
of time to think about that. I don't even know,

(08:58):
I can just feel it just by reading what I've
done on my research. And I think a lot of
providers they need to do a better job of that.
You know, some do it really well and some don't.
It's and I'll just first the reason I bring that
up is because when you look at medical aesthetics, you know, practices,
when you look at providers practices, there's competition. They truly

(09:20):
are popping up all over and you know, I think
five years ago there was less competition, but now it's
just you know, it's becoming like this, this commodity, if
you will, if you're not careful if you don't have
a value proposition and why you're different who you are
and what you represent. And I think collecting feedback back
to what I was saying is really can kind of

(09:40):
craft the future understanding of what that patient experience wants
in what that employee wants. Right. So that's a great point.
And you know the best thing is is you guys
have what if you've also done a great job is
understanding roles. Right. So so for doctor Waples, you run

(10:03):
the practice from a clinical aspect, like, no one's going
to do better at that than you. Right, You're putting
your time in sure, sure, but you get what I'm saying, right,
there's there's different roles you as your partners. You know,
I know I could ask you and I'll ask you
right now, like what are your roles versus Dominique's roles?
I know they're very specific. I can just I can tell.

(10:24):
And you obviously wouldn't have failed there if you didn't
you know, have what you have, So talk to us
about that. How do you manage that with how many
hats of provider has on their plate?

Speaker 4 (10:34):
Well, I mean it's been really really important because you know,
Dominique and I both have very strong opinions and and.

Speaker 3 (10:41):
That's okay, you know, that's a good thing. And then
we both care a lot about the practice.

Speaker 4 (10:45):
And when you have two people who care a lot
and have big opinions, if you don't have really clear roles.

Speaker 3 (10:51):
It's just going to be fighting all the time, you know.

Speaker 4 (10:53):
And and you know, I mean also were sisters, and
so we know how to fight.

Speaker 3 (10:57):
But years we can, we can knock it out. We
really try to do that with with doors closed and staff.
Who's scares our staff?

Speaker 4 (11:07):
But but really, you know, like I'm a doctor like that,
that is what I am, That's what I do. I'm
in charge of making hopefully clever decisions about the medical
side of the practice, what we're going to carry, what
our laser deck is going to look like, you know,
trying to find procedures that are both have an appropriate
safety margin, are easy to delegate out. Because I don't

(11:28):
want this to be the doctor Wapele show. I want
this to be restored. So I've got to be able
to train other people.

Speaker 1 (11:31):
To do it.

Speaker 4 (11:32):
And it's got to make sense financially and have a
good patient outcome. And my job is to find those things,
bring them in, train the clinical team, run the clinical team,
and then when we have you know, big business decisions.
Since we're both owners, we discussed those things. But Dominique
is a CEO and she makes them all the day
to day, you know sort of business operational decisions she makes,
which is great because one person can't.

Speaker 2 (11:52):
Do all that.

Speaker 4 (11:53):
Like one person can do that if you are a
small shop, if you if you're one person, maybe one
another provider, one front desk person. That's something that small enough,
one person can hold it inside their head. But one
thing I've learned, just as we grow, the bigger we get,
the more I realize there's pieces that can no longer
be held inside my head or even both of our heads.
Like like, we hired a gentleman who I have not

(12:15):
I met him a couple of days ago and I
started walking to one of our locations. I'm like just
I'm like, oh mn, you my intim And I only
know that because we only have two men, and he
was not the one I knew. As the business grows,
you've got to define roles and you've got to break
things apart because it's too big.

Speaker 3 (12:33):
For one person.

Speaker 4 (12:34):
And if you try to keep it all with yourself.
If you're the only one, then you cap your growth.

Speaker 2 (12:40):
I agree one hundred percent. I mean, you know, I've
looked at the data that amspot puts out. I've looked
at the data that qsit puts out with Skytoe Group Shoot.
I put out a ton of data myself, and it's
you know, it's when you look at the average medical
aesthetics practice. You know, from amspa's data, you know, one
point four million a year, and that's like sixty seven
of sixty seven percent of them are provider owned, single location,

(13:04):
provider own. And you know, you're you're talking about a
million dollar business here. You know that has a tremendous
amount of room to run. And where I see providers
really struggle, we're kind of talking about the offline is
they try to wear all the hats, and you get
stuck in this mindset of I have to wear all
the hats because I kind of have to control everything.

(13:25):
And I get that as a founder, but I also
want to keep my costs low. And I would caution
practice owners, provider owners that if you get stuck there
and you think that there's all these costs, like I
don't want to outsource a CPA. I don't want to
outsource by marketing. I don't want to spend on a
new software program that's going to automate and optimize my

(13:46):
business because of cost cost costs. But really you're buying time, right,
And I think if you don't take the time to
really work on your practice outside of the hours of
when the practice is open, like work in the business,
versus is on the business, that's where they get stuck.
It's very common. I see this, and I think for

(14:07):
the listeners out there, what these gals are doing, they
can they can build on this much deeper than I can.
They own a practice right together, and they can talk
about that. So it seems like it comes easy for
you because you have roles and definitions and you can focus, right.

Speaker 3 (14:23):
But yeah, so I remember, maybe seven or eight years ago,
I was introduced to EOS. I don't know if you're
a familiar entrepreneurial operating system. There are a couple of
fantastic books. Traction is I think the most I don't
know it's the most well known. There's another book it's
kind of a business novel, if you will, called Get

(14:47):
a Grip and if anyone out there is looking for
a book, you know, or some resources about delegating and
roles and how you decide who goes in what seat
and you know all of these pieces, I would highly
recommend that it's I believe it's Gino Wickman, It's yeah,
it's Ecosystems. Get a Grip is a great book about this.

(15:09):
It's about I mean, and really what it comes down
to is first to find the roles and only then
do you decide if the person fits the role. You
don't kind of sit go like, oh, I've got all
of these people. Now I have to tailor make each
one of the roles for the actual people that are
already here. It's not that, it's the other way around.

(15:30):
And I'll tell you what. When we implemented EOS, I'll
tell you you know, that is a painful thing because
there were a couple of people in our organization who've
been there a long time and frankly, weren't doing a
good job well for the role. They weren't a good
fit for the role. And we've been and honestly, it
wasn't we hadn't been fair to them. We hadn't been

(15:52):
fair to them by keeping them because we were getting
angry about it, right, like Blaine almost like blame them
for not being able to do the role that was
never a fit for them in the first place.

Speaker 2 (16:05):
Oh my god, we's goal.

Speaker 3 (16:07):
You want to continue? You know? Yeah? Yeah, So, I
mean we live and die by our It's called an
accountability chart in the EOS language. It's just an org
chart if you will. But we we have quarterly leadership meetings,
and one of the things we do at every leadership
meeting is there's a portion of time where we take
you know, fifteen twenty minutes and we pull up the

(16:28):
ORC chart and go like, okay, do we need to
make any changes here and not the role, the role,
not the people, not the people, the rules, and you know,
and then we're looking at that for you know, what
does it look like six months out right? Are we
building it for right now? Are we building it for
six months out or do we need to make another
one for another piece, another role a year. And so

(16:50):
we start thinking about thinking about and hiring for that. So,
I mean, every business is really just about the people.
I mean everybody, I mean right.

Speaker 4 (16:58):
Now, just piggyback on that that the piece that was
the most powerful for me when we first started implementing
the OS is there's this exercise called gets it, wants
it capable of it?

Speaker 3 (17:07):
Right?

Speaker 4 (17:08):
You know? And basically that and then you have to
do the exercise is is you build to our chart
and you have and then you go to each person
in the organization and the question is do they get it?
Do they know what the role requires? Do they have
you know, do they have the skills? Do they understand?
Do they get it? Do they want it? Is that
actually where they want to be? Do they want to
be a part of or not just how do they
show up every day? But do they want to be

(17:28):
a part of the organization and now capable of executing?
And it has to be yes to all three. If
there's a no on any one of those, that that
that person is not going to work.

Speaker 3 (17:37):
And so I remember we had this is when we
have one location.

Speaker 4 (17:40):
We had this one little whiteboard on our one little
wall and our one little loss, you know, we go
down all of our people and had gets it, wants
it capable of it? And we had this graph and
we went through and and what was amazing is like
we had never spoken about this before. We never talked
about this before, but our analysis of each person was

(18:00):
basically the same. Like we both knew like you hadn't
We hadn't expressed it, but we both knew people wanted
it with people wanted it but weren't capable of it,
which is the saddest one, you know with people. You
know we're capable of it and got it, but just.

Speaker 3 (18:12):
Didn't care, you know.

Speaker 4 (18:14):
And and I knew that under the surface, and that
exercise rob at the top and it was a really
it was a really useful thing. But yeah, it was
not It was not particularly fun, but it was necessary.

Speaker 2 (18:23):
Yeah, necessary for them and for you. And I mean
the fact that you went through that exercise. It sounds
like you knew the answer, but the exercise made it
very well known and you know, crystallize it. There you go.
That's a great way of saying it. Yeah, And it's
you know, you got to get the right people on
the bus, you know, That's that's super important. And then
you have to have the rules. I like how you

(18:43):
said create the roles first and then make sure you
have the people that fit in those roles. I've been
there before. Where in your mind as a business owner,
you can get stuck in the sense of, but I
believe in this person. They have the ability they had,
they are capable, they do want it, and so you're
trying to just continue to coach them, and then you
get frustrated, you get mad at them, and ultimately doing
them a disservice. It's the business. I've been there before too,

(19:06):
and I think a lot of entrepreneurs and practice owners
struggle with that. And that's a wonderful, wonderful exercise. Yeah,
let's talk about us for a second, because I think
you know, as providers and practice owners, we go to
a lot of conferences and we typically stay within our
industry network, which is important, you know. I think the conferences.

(19:27):
I'm one of the biggest fans of conferences for networking.
I've always said, you're you know, your your network is
your net worth, and there's a lot of industry expertise
at these conferences and great people. But it's also nice
to kind of get outside the industry for a second
and join a group of other entrepreneurs and kind of
table the medical aesthetics side. How is I mean it

(19:50):
sounds like that's made a big impact for you.

Speaker 3 (19:52):
Oh, huge, huge. We joined EO and EOS of difference,
and so that's different from EOS. So Entrepreneurs Organization YPO
is the parent organization that's you may have heard of
either one of those, but they're you know, yeah, by entrepreneurs.
For entrepreneurs, there is basically no pitching within the organization

(20:14):
of other people within it, which allows for really honest,
trusted communication between people that are in it. And you know,
i mean, after the first five percent of your business,
we're all running the same business. I mean there are
differences in size, right, sort of the struggle we are saying,

(20:35):
the questions are the same. Yes, yes, I mean we're
all so many times the problem is the entrepreneur almost
always right, if you can own the problem, you can
then fix the problem. But really owning the problem sometimes
that's hard to because we're too busy blaming somebody else.

Speaker 2 (20:56):
And hell, I'm sure.

Speaker 3 (20:58):
Almost always the real challenging things have to do with people,
and so do the really great things. So being able
to see like it doesn't matter. You know, somebody might
have an auto mechanic shop and literally they have exactly
the same problems society. You know, they have marketing and
sales operations, they have finance. So do we I mean

(21:20):
every business does, right, that's that's every yeah, every single
one of them. Yeah for us.

Speaker 2 (21:28):
Yeah, And I would encourage you know, the listeners to
look at some of these other organizations that are entrepreneur focused,
that are business focused. And I have to take my
hat off to providers for people that have spent so
much time in the medical field, the clinical field. I
mean you can run circles around me. You get through

(21:49):
all the schooling and then you have this practice and
it's a business and it's like now I got to
be give this business person, okay, you know, so it's
it's not easy. You know, it's obviously can be done,
as are obviously proven that. But one of the things
I wanted to chat about was, you know, a lot
of a lot of providers struggle with leadership and business leadership.
So you know, what's psych as you what's the benefit

(22:15):
and maybe the challenging of non clinical CEO CO leading
within the clinical founder it is it is there a hierarchy,
like how how does that work for for for you guys?

Speaker 4 (22:30):
I would just I would I would just speak really
quickly to the clinical side. Like the thing about especially
being a physician is clinical medicine.

Speaker 3 (22:38):
The hierarchy is given to you.

Speaker 4 (22:40):
It's like the army, right that the you know, everything
is structured and everyone knows where they fall in the structure,
and it's a top down hierarchical structure, and it's it's
it's given to us. You go to the hospital and
you are a doctor, and you walk in the room
and everyone listens to you because you are a doctor.
And then when you try to make that you know,
when you transition from that to business and you can
build a hierarchical business, you know, you can build a
business culture that you want. But I think a lot

(23:01):
of a lot of medical providers really struggle because we're
not taught leadership. We're taught how to execute in a
hierarchical structure, and and that's you know, in some ways,
that's very very very easy. The authority is given to
you by the structure. You don't have to generate authority
inside yourself that other people will listen to when they
have a choice. You know, I think that's where a
lot of providers fail. We're not we are we think

(23:23):
we're taught leadership, but we're not. And you don't realize
that until you actually try to lead people who don't
you know, who are not inside that structure and don't
have to listen to you. As far as working together,
I think I'm a I'm a joy.

Speaker 3 (23:35):
You are a joy. Really, I listen, I cooperate. I think,
I mean we have I mean yes, there certainly is
a hierarchy at Risktore. There has to be that. An
accountability chart is a hierarchy, right, Like you're always going

(23:55):
to say whose responsibility is this? Well? What bucket does
it fall into?

Speaker 2 (23:59):
Right?

Speaker 3 (23:59):
Like when somebody says, well, who do I ask about X?
I'm like, great, Well is EX? Medical? Right?

Speaker 2 (24:06):
Is X?

Speaker 3 (24:07):
Operations?

Speaker 2 (24:09):
Is X?

Speaker 3 (24:09):
You know, marketing? Because how you answer that question determines
who you ask about it and also who's who's in
charge of it? Right, And leadership hopefully is responsibility for
something like you're responsible for your people. You know, you're
responsible for the vision of the company. You're responsible for
motivating and holding your team accountable. Right, and so we

(24:35):
in this hmm, how would I describe this? I would say, like,
have you heard of like you know, like founder dating,
like like in the last world, it's really common, like
bio biotech world. Okay, well, like so in San Francisco's
founder dating not actually dating, not actually dating. It's when

(24:56):
a tech founder needs to find a topic expert a business.
You know, somebody who has operations, finance, marketing, you know,
experience in running a business because I don't know how
to do it right. And so this is common in biotech,
in fintech, and you know something where you've got like
the technique expert. Yeah right, And medspas aren't in that

(25:20):
eCos you know, they're not because I mean they're not
in that egos system. Often those ecosystems come about because
you've got a lot of money pouring into an idea
right at the beginning of the business. And that's not
how medspots run, you know. Instead, what you've got is
a single person who says, I a little yeah, trying
to figure it out.

Speaker 2 (25:38):
Yeah, it's spoons trapped spoonstrap versus VC bag.

Speaker 3 (25:41):
Which is amazing. But at some point, if you don't
bridge the gap between it's just me and the silo.
And like I have a partner who knows how to
do something else, boy do you get in trouble. And
I think that for like, for the two of us,
what is so great about this is you know, Flora
is a brilliant medical visionary right like there she sees

(26:04):
and explains things about the structure of medicine and the
direction that medicine is going right now, like from aesthetics
to wellness and where they over you know, where they
intersect and how they work. Like whenever there is a
medical question at Restore, every clinical provider has access to that.

(26:25):
That's amazing, right, There are so few places where that's true,
and I will take that. You know, there's so fluid play.
You could work at ideal image, you wouldn't have that.
You could work at layserway and you wouldn't have that.
I mean, I've seen people come from those environments into
our environment and all of a sudden they've got you know,
an actual you know, we're a leader like and it's

(26:46):
it's incredible. Now. The same thing is true on the
other side of it. You know, it has to be
true for the marketing staff. It has to be true
for the operations staff, for the finance, it has to
be true for everybody else true too. It cannot just
be the medicine. And so we have built that together

(27:06):
and I mean it's so unusual in this industry, but
it doesn't have to be. So I would encourage every
provider out there who is listening to this. If you're
at a place where you're thinking, like, how do I
do this? How do I find this person? You know,
I would say, first you got to outline what you're
looking for, right, that's the account of re piece, right.

(27:28):
And also you have to get real about how you're
going to pay that person, because it does mean probably
for a while you are going to have to take
part of what you're making. You basically you're gonna have
to pay them in order in order to grow the
business ultimately, right, but it might be a financial hit
at first, and just have to get to a place

(27:49):
where you know you're investing in your future and that's okay.

Speaker 4 (27:53):
Yeah, And I would I think, you know, we talked
a little bit about this off offline, but you know,
very very frequently doctors have of what I call smart
person syndrome or smart guy syndrome. Right, they have always
been the smartest guy.

Speaker 3 (28:05):
In the room.

Speaker 4 (28:05):
And and doctor they are very smart, Like doctor are
generally very very very smart. And that's you know, that's
not a bad thing, but it becomes a bad thing
when you know you're smart, and therefore you don't respect
anyone else who does anything else, and you aren't going
to listen to anyone else.

Speaker 2 (28:21):
Because because you're smarter than anyone like that.

Speaker 3 (28:24):
Not certainly not a surgeon.

Speaker 4 (28:26):
Surgeons like that, but I like, like, I had to decide.

Speaker 3 (28:32):
And you know, when we were when we were small.

Speaker 4 (28:35):
I was I was the doctor, right, I did all
the procedures, my pictures on the you know, the advertising materials,
all that kind of stuff. And I had to decide
if I wanted to be the doctor and be the
smartest person in the room and be the special one
that everyone looked to and the one who's everyone knows
my name, right, or if I was going to try
to be the dumbest person in the room surround myself
with people who could you know, who could be better

(28:57):
than me in all these different arenas.

Speaker 3 (28:59):
And that is the best decision I think I ever made.

Speaker 4 (29:02):
Like my goal now whenever I go to a conference
or go to any kind of professional thing, is I
want to be the dumbest person in the room. I
want to find people who are better at anything than
I am, because that's the only way I'm going to
get better, you know, I'm not. I'm not gonna get
better just listening to my own mouth.

Speaker 3 (29:16):
Also, and actually this is an important distinction. I think
a lot of people might not recognize and understand, but
Flora is not in the treatment room hardly at all,
friends and family only. And we made that decision before
we could afford to make that decision. Yeah, we did.
We I mean we decided like we are going to

(29:38):
grow this business. We are going to grow this and
you don't grow this by limiting it to just you. Yeah.

Speaker 2 (29:45):
Yeah, your ladies are absolutely brilliant. I mean what you're
this is what I want every provider to say, like that,
you know, this is you get it. You the growth
mindset impact that you have, doctor Waples is it's rare,
you know, being a doctor, having all the credentials and
you know, history and accolades and everything. It's not easy

(30:05):
to say, you know, and hon to surround myself with
people that are smarter than me and you know, you're
absolutely brilliant, you know, and that's very challenging for people
to do. Right, there's this ego, there's this I got
to feel like I'm better than you. It's it's not
easy to do. People that have that trade do very well.
The other thing that you pointed out was you're not
in the treatment room. I bet everybody that's listening to

(30:28):
this thus far thinks that you are, because.

Speaker 3 (30:33):
That's the way, that's the way it works. I haven't
been for that's four three four years. I mean, I
do educational every now and then stuff. I mean she,
I mean obviously in order to know what's going on,
you have to spend a certain amount of time, like
just sure you have to, you know, but no, she
I mean.

Speaker 2 (30:47):
But you're the director. Basically you're the You're the medical director,
right and you're you're taking charge of that role, and
I know you have big growth plans and let me
that that is. That is where I see a lot
a providers struggle right there, is like, hey, I'm because
they build this brand, injector this injector that injector this.

(31:08):
You see it all over right, It's all tied to
this personal brand. And I think building a personal brand
is extremely important and valuable, especially in today's you know,
modern way of doing business. But if you have to
build a brand, so you have you have Nike and
then you have you know, Michael Jordan, right, you have
Tiger Wood. Sorry to use those guys, but I'm a golfer.
I think Michael Jordan's just well known, right, but like

(31:31):
you know, they're tied there. But Nike's the brand, right,
And then you have these these icons if you will,
within the brand. And so you've done a great job
of saying, no, we're going to build a business and
I'm not going to spend my time with patients. Not
that you don't care if your patients, because you know,
spending time there is actually taking your time. It's it's
taken from the business. You've You've you've made that decision. Now,

(31:53):
that's not easy. That's not easy because there's imposter syndrome.
There is like, well what if this if I don't
see my patience, My patients want to come see me.
My patients only want to see me. And I was
just on the phone with another practice owner literally before
we jumped on this, and they were, you know, the
head provider, that the owner, she's the biggest revenue producer,

(32:14):
which is very common. And I made a comment and
I said, this is great, it's very common, but at
the same time, it's also a risk for the business.
As we look at future growth.

Speaker 3 (32:23):
You break your right hand and goes to business.

Speaker 2 (32:25):
I mean it's there, you go there. You can't have
that right and so you've got to kind of, you know,
de risk the business.

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Speaker 2 (34:03):
As you do that, and I think this is this
really Doves tells nicely into what I want to get
into next. Is as you've grown Restore, how have you
been able to maintain the heart and the personalization that
made it successful? I mean, the structure, the brand as
you go. You're at three locations now, I know you're

(34:24):
opening up a fourth. I know you have big plans
in the future because at one point that was you.
It has to be right and it still is. Obviously
you're you're the brand. But but you get what I'm saying,
like that, how how did you do that? Like it's
not easy?

Speaker 3 (34:37):
Yeah, you know me really gets most of the credit
for this. Yeah, I mean, I I it's so boring.
I mean it's so boring to say, but operations and
to some degree finance have got to be completely dialed

(34:57):
in order to be able to con continue to give
people a level of service that they've come to expect
when all of a sudden, you don't just have one
provider or two providers and three providers or four, you
know what I mean, Like I think, yeah, I mean,
it's not all about money, but if you're not really

(35:21):
aware of your finances and whether or not you're profitable,
and I mean, okay, I'm gonna I'm gonna give you
another book here for us, for all your yeah, for
all of your readers out there or your listeners there.

Speaker 2 (35:35):
Yeah.

Speaker 3 (35:35):
Yeah, there's a book by Greg Crabtree. It's called what's
it called, Simple, Simple Numbers, Big Profits. Yeah, I mean,
it's like it's an orange it's another orange book. Actually,
Attraction is also it's an orange book. It's a bright
orange book, and it is it's not for medical aesthetics.
It's for you know, small business owners effectively, right, And

(35:58):
it is a it is a very simple, easy to
understand explanation of what it means to truly be profitable
and stop and stop lying to yourself about whether you're
profitable because you're actually not paying yourself. Right. That's that's
a lot of a lot of business owners do that.
They say, oh, I'm you know, I'm making all of

(36:20):
this money and like literally they're paying themselves zero and
what they say is their bottom line is actually what
they take home. That's that is not a business. That's
if you can't be replaced, it's not a business. So,
you know, getting finances in order so that we could
afford to invest in the things that allowed us to
run the business and really you know, give give people

(36:42):
that customer service that they'd come to expect. You mentioned earlier, Cam,
I think you were you know, you were talking about
investing in software, investing in marketing, right like really like
having the time and the money to do those things.
I mean, that's how we've enabled Like just it's just
the customer service that people have come to expect. And
I think that's one piece. And I will also say,

(37:05):
I think so our values are just everything comes back
to values, right, Like professionalism is one of our values.
And at the end of the day, one of the
things that we drive home to every single person who
works that restore is if there's a problem, right and
if there's something like a client who's angry, if there's

(37:28):
something that needs to be addressed, we do that right away.
That's not like sit on it. That's not like let
the email kind of hopefully it'll go away and just
disappear in the inbox. Right. That's not like, oh, somebody
will get back to you over the phone. Right, that's like, no,
you you deal with it. You deal with it. We
have y standards. We do and because and that started

(37:51):
from the two of us, you know, I mean, leadership
comes from the top, right, Like when there are real problems,
we handle them. People observe that and they learn from it.
The hardest things. We always end up doing the hardest things, right,
But at this point, like clinicians, there's a clear path.
Like you, you take care of the things that are yours, right,

(38:14):
And it's the same thing is true for our managers,
you know, for our our front desk, whether it's I mean,
it doesn't matter who it is, you take care of it,
and you take care of it fast. And that's one
of the I think that is one of the most
important ways to really maintain a high level of customer
service because people people, they remember how you made them feel.
You just can't get around it.

Speaker 4 (38:34):
The biggest the biggest thing I heard I was I
was listening to a podcasts some funny podcasts. Yeah, and
basically this guy said behavior is a language. Behavior is speaking,
it's behavior as language. And so don't be like, well
he says this, but he does this. He's like behavior
as language, and and that is something that you know
is true. Like, you know, we expect professionalism. We expect

(38:55):
our providers to put the patient first. That doesn't necessarily
mean the patient gets everything they want. It means that
asian's best interests go first. And and the other sort
of big lesson that I got. We were at one
of these conferences. We're in Utahn. There's this this Navy's
sis ex Navy seal. Yeah, they always talk at all
the business conferences. They get the Navy seals up there
because everyone's impressed by Navy seals.

Speaker 3 (39:12):
He's an impressive guy. They always right, he's a he's a.

Speaker 4 (39:15):
Tough individuals like we want to be like you, you know.

Speaker 3 (39:24):
But they had the guy and he was talking about,
you know, accountability.

Speaker 4 (39:28):
You were talking about like how you know how they
how accountabilities on the Navy seals and and he said this.

Speaker 3 (39:33):
One sentence that just I will remember for the rest
of my life.

Speaker 4 (39:35):
And he's like, you know, as a leader, you get
the behavior you tolerate, and I was like, ah, ship,
that means it's all my fault. That means that whenever
someone does something, if I don't check that behavior, that's
on me. You know that that is now my responsibility.
If I tolerate it, and everyone in the practice sees
me tolerate it, then what everyone learns from that is

(39:56):
this behavior will be telling this is okay, right, And
so you know, it is very much like kids or
dogs or horses. If you know, if you're going to
have your values be implemented by your people in the
world every time, you have to hold them accountable to
those values every time, and that's hard, and you will
lose them because people don't necessarily want to have your values.

(40:17):
Sometimes your values are hard, sometimes they are uncomfortable. Sometimes
they mean you have to do hard, uncomfortable things. But
if you don't enforce that every time, and then you go, well,
I don't know, the culture sucks as well. You tolerate that,
You tolerate that, and if you're the business owner.

Speaker 3 (40:32):
It's on you.

Speaker 2 (40:34):
That's so good, so true. I'm so guilty of that.

Speaker 3 (40:37):
Oh my gosh, I talk a good game.

Speaker 2 (40:40):
Yeah, yeah, it's so hard much easier to see. Yeah,
you have my mind, you know, thinking about the kids
and the marriage. Yeah, like, oh my gosh, I tolerate
too much.

Speaker 3 (40:51):
Easy to say, great line to try it out in public.

Speaker 2 (40:54):
Very hard, So true though, it's so true. I mean,
you have to hold high standards and that that's what's
going to get good people on your team, you know,
And you're exactly right, you know, is running a very
successful practice. The patients do come first. They are taking
time out of their day to come to you and
for to basically enhance their overall outlook from confidence and

(41:18):
you know, really feel good, look good, and there's there's
a deeper emotional reason behind every patient. But you know,
I guess at a high level that's what they're engaging
in is enhancing confidence, and you're exchanging time for that.
And you know, it's important to put them first because
you don't know who they know, you don't know what
they're connected to, and if you treat it that way,

(41:40):
they're going to go tell everybody about it and their
experience and they want to and they also want to
if they had a bad experience as well. Okay, how
do you go from this is kind of just an
off the cuff question because you're really close, you know,
you guys like do everything together and your next or neighbors,

(42:01):
you guess family trips. Say, how do you go from
like business owners to sisters? Is that or is it
just that's tough?

Speaker 3 (42:11):
Is you know? Well it is we've been doing it
for a really long time.

Speaker 4 (42:18):
Yea. And to say consuming, I think not an over
you know, I think that people do one of two
things right.

Speaker 3 (42:26):
They either draw really clear lines, like we talk about
work at work and.

Speaker 4 (42:30):
At home we do not talk about work, Like there's
I know people who work together who that's the rule.
Like inside the house, they do not talk about business.
And that's one way to do it. And the way
we do it is it's just.

Speaker 3 (42:40):
All one big mess. We talk about family at work.

Speaker 4 (42:43):
We talk about work at home, and it's just one
And I think that for me anyway, you know.

Speaker 3 (42:49):
There is.

Speaker 4 (42:51):
There is safety in that because like we can't break up,
Like no matter how hissed we Mike and we can
get at each other, we can. But if we break up,
we're breaking up the business, We're breaking up the family,
We're breaking up the kids. Like there's so much that
rides on us solving our problems. That not solving the

(43:12):
problems becomes just a non option. You have to keep
working at it until you get it solved, and that
can be very hard. But there's also a kind of
a deep stability there, and so that that's kind of
what we do.

Speaker 3 (43:23):
I don't necessarily recommend it.

Speaker 2 (43:25):
Yeah, yeah, it's I mean it's obviously working. And yeah,
I mean I've had partners, and you know, partners can
get upset at each other, I think because everybody's passionate
about the business. Yeah, I think it's very common. But
there's like this underground understanding of respect and trust, you know,
and if that's there, then then like anything can be
sorted out. You know. I've had great partnerships, I've had

(43:48):
I've had very bad partnerships, And every time I look
at back on history, it's was it challenging every one
of them. Was challenging every one of them. But why
did this one work and this one didn't? It came
down to trust and respect at least. That's that's kind
of the way I see it. I Mean, my wife's
been involved in It's like her and I are married,
we're involved in all of our businesses. Okay, so you

(44:10):
know exactly what yeah, oh yeah, and we like to
talk about it and it's all intermingled. And I think
this whole like work life balancing, it's just non existing.
I don't think it's real, but sure, I guess you could,
you know, talk about it, not as an entrepreneur, not as.

Speaker 4 (44:25):
Somebody who wants to accomplish anything. I mean, if you
want for something, you need to focus, and if you're focused, there's.

Speaker 2 (44:29):
No balance, for sure.

Speaker 3 (44:33):
I've been thinking I'm about to you know, there'll be
a LinkedIn post about this later, but you know, yeah,
there will, because I've been thinking about it, you know.
I mean, it's not balance. It's not like you're on
a like teeter totter or something like that. It's not balance.
Like for me, it's like I want to keep going,
so what do I need to keep going longer?

Speaker 2 (44:55):
At this?

Speaker 3 (44:56):
And like I think about we both actually we've all
started trail running and we're running longer and longer races
first ultras this day. But it's really kind of like running.
You know, you start running, you could probably run holding
your breath for you know, you could run across the room.
Right at some point you got to breathe in order
to keep going, right, And you can probably run if

(45:20):
you had to. You've done three or four miles without water,
and you'd be fine, Like you wouldn't be you know, right,
But at some point you need water and then to
keep going? Why because you want to keep going. You
just want to keep going. You need righto and then
you need that right and you got to have you
got to have like electrolytes at some point. Yeah, it's salt.
At some point you're going to need to sleep, right,
But what do you need to keep going? Like, I'm
not trying to balance this, I just want to keep

(45:42):
going because this is a lot of fun and so
just finding the things that allow me to do that,
that's what I'm trading out for balance.

Speaker 2 (45:52):
Yeah, that's great. I love that. It's so true too,
And I'm a runner myself, so I can completely relate
to that. And it's that's how life should be. And
I think like entrepreneurship is not there's not a destination.
It's is just a continued journey. And some people get
knocked off that, you know, the train tracks before others,
But the ones that have the stomach for it, because

(46:13):
it can be lonely. It can be dark. I mean,
we saw glamorous on podcasts and social media and all
that stuff, but this part is awesome. Yeah, but there
is some There are some tiers and late nights and
fights and finances. Yeah. Oh yeah, I know exactly what
that is like. And it's that's why they make sports
cars with two seats, you know, lonely at the top.

Speaker 3 (46:36):
Yeah. Okay, So say like, if it was easy, everyone
would do it.

Speaker 2 (46:40):
If it's easy, everyone will do it. That's right, and
it's not not. Entrepreneurship is not for everybody, and that's okay,
you know, that's that's totally fine. And I think being
a practice owner is not for everybody. I think there's
there's a lot of providers out there that actually thrive
within a very profitable, you know, strong foundation, good leader
ship practice and going out on their own. I think

(47:03):
social media can kind of put people in a position
to want to go out there, and I think that's
great to challenge yourself. But at the same time, I
know a lot of providers that work for practices that
do very well and they have way less risky and they.

Speaker 4 (47:16):
Can go home and they can forget it and put
their phone on, silent and tap out and totally that
is worth something, you know, like that that is worth something.
So yeah, I mean I agree, entrepreneurship is certainly not
for everybody, and I think that I agree. I think
people get sold this idea that it's just it's just
slamor and fun, easy and so it's easy. And you're
already doing it, girl, you're already doing It's like, no,

(47:37):
you're not. Like being an injector is not being an owner.
They're different totally.

Speaker 2 (47:41):
I mean it's very very very different and very different. Yeah,
you have to hire people, fire people. I mean as
you open up, I mean, how many systems have you changed,
not not like SOPs but EMRs to trialing this, trialing
that this feature there yet I'm sure.

Speaker 3 (48:05):
It's just we've been through three point of sales softwares.
But then also in addition EMR systems. I mean we
we actually run right now, we run SNODI and doctor
Chrono simultaneously. Well they both have open APIs, but they
don't talk. I mean, it's oh god, I mean it's okay.
So here's speaking of podcasts we listen to and things

(48:28):
that we've learned. I was listening to a podcast from
a It was a like a franchise consultant and he
was talking about the importance of data and the way
he framed it it was kind of an interesting I mean,
we all know data is important, right, like we all
need to know what the answers are to our questions, right,
But the way he framed it is, you have to
have a database warehouse, right you. That's so important because

(48:51):
if you don't, you're not going to be able to
easily switch systems like you know, point of sales softwares
are in our case, EMRs. You know, those kinds of
things going to be stuck and then you're and then
you're going to be behind because the industry is changing.
It's changing rapidly. I mean that was literally that was
you know, there's probably I think I've listened to that
podcast two years ago. AI wasn't even coming up. But

(49:13):
I mean, in today's world, like none, none of the
point of sales software is that we're talking about today,
you know, whether it's nobody bulevar. I mean, I could
I could list them, right, I could just list out
all of these things. None of them were built with
AI in mind, and a lot of these things it's
like once the foundation's laid, you know, you're going to

(49:34):
have a hard time reorganizing the house. So there's probably
going to be some incredible innovation happening. Like in my mind,
there has to be. There's gonna be incredible innovation happening
in the next couple of years in all of these
systems that we rely on. So I you know, I
fully anticipate every every three to four years, we're probably
going to be transitioning in and out of something because

(49:56):
it's our promise, that's our promise to our providers, to
our patients, right, like, we have built this incredible thing
that will allow us to serve.

Speaker 4 (50:04):
You so well, we have to stay on the coming end.
And so we had Yeah, there's are responsibility to all
of our people. Yeah, and uh yeah, cutting edge smooth.

Speaker 3 (50:12):
I mean, I don't even know what the question was.
I just got you know, excited there.

Speaker 2 (50:16):
No, it's it's yeh, that's exactly what I wanted to
get out of. It was was the challenge of scaling
and like having to switch you know, systems all the
time and exporting data and importing data, and then you
get on this new system and quickly realized oh it
didn't have the feature I was sold, or it doesn't
solve this problem. And then you go open up location four,
five and six and can I handle that that capacity?
And to your point about AI, I agree. I think

(50:39):
you know, AI came in the scene after the foundation
was built for most of these platforms, right, and they're
they're trying to inject it in there. I think some
are doing better than others, but I still think we
have a long way to go. I haven't seen anything
revolutionarily so on my side, and I'm hoping so. I
mean that was always my challenge. You know, when I

(50:59):
ran our company, we we are north Star Metric was
always keeping calendars full, how many how many bookings can
we net result for providers, practice owners? And then more importantly,
how could we tie attribution metrics back to that? That
was our biggest challenge for years. I mean I was
pounding on the doors of mrs, just pounding and guys

(51:19):
like I need to know our clients are plant X.
I need to know exactly what the attribution is so
I can give them an ROI It's really hard to
give these numbers with because I'm pushing everything to your
booking software and I lose them when they click that
booking BUTTONY so challenging. And now yeah, it's like you said,
Crono ands and OTI and I'm assuming it's because of wellness.

(51:41):
Is one aesthetics as the other talking to the labs
the blood work like you got it. Somebody's got to
solve that problem.

Speaker 3 (51:48):
Please you're listening. If you're that someone, we beg you.

Speaker 4 (51:53):
We definitely need a EMO combined with the points sales
software that can do medicine and also aesthetics. I work
with AI and memberships. Reach out to me personally.

Speaker 2 (52:03):
I got memberships you building? Yeah, what are you using
for memberships? Do you have another app for that?

Speaker 3 (52:09):
What's that the memberships?

Speaker 2 (52:10):
What are you using for memberships?

Speaker 3 (52:11):
I mean.

Speaker 2 (52:14):
It's built.

Speaker 3 (52:14):
I mean I have some go no go things when
I'm looking at software and opening is one thing, memberships
or another. There's some things with rooms and resources that
I mean there are I do have a list. I
actually have a list. It's actually a spreadsheet open.

Speaker 2 (52:29):
I can sell a go no go list. I love it.
You're talking like a like a CTO right there. I
like it, Like you don't have a choice.

Speaker 3 (52:37):
You don't have a choice. You have to learn.

Speaker 2 (52:39):
Yeah, you know you have to learn. Yeah, yeah, and
I completely agree. Yeah, I mean it's you see wellness
completely getting integrated into esthetics. Everybody's changing the name of
their practice, the brands, the g LP ones, it's this thing,
it's hormone replacement therapy peptides. People want to feel better, right,
we want to look better. We want to feel better.

(53:00):
Keeps the patient more sticky, it gives the better result.
And the challenge is it's like every practice owner I
talk to now has two two systems that don't communicate.

Speaker 3 (53:12):
Oh, we've got like at least six or seven systems
that don't come about too.

Speaker 4 (53:18):
Well.

Speaker 2 (53:19):
I'm talking on just like the the E m R side,
there's two e m rs. There's two em rs mate.

Speaker 3 (53:24):
Because theesthetics and one and then a different one for
the one side. Yeah, that's a problem.

Speaker 2 (53:32):
Well, let's talk about marketing for a second. I know
you guys are super busy, and I really appreciate you
being on and I want to talk about the future
of the business. So how do you handle marketing? Because
earlier I said you have an incredible brand of I've
obviously stocked you on social media. I know that you're
very active dominique on LinkedIn. Doctor Waples, I know that

(53:53):
you guys are very active on the on the brand
side of things when it comes to Instagram and all
the other platforms. How do you how do you manage consistency?
Brand consist and see how important is that to the
practice as you community scale like that role. This is
a cash bay business, right, this is not this is
this is a marketing game. I always said, like the
best practice owners are the best marketers to get attraction. Yeah,
how do you how do you look at that? That's

(54:14):
an important part of the practice.

Speaker 3 (54:15):
It's huge. I completely agree with you, and you know,
let's just take it back to that conversation we were
having earlier about that accountability chart and that higher you know,
who sits in what seat? You know, we are at
this point in practice growth where the most important seats
that we're adding are the ones in the marketing and
sales section of our practice. Heal goodness and just more

(54:38):
people need to know about it, you know, and just
bringing that I mean there's always a role I think
for you know, sort of for agencies and independent contractors,
but fundamentally bringing the responsibility and some of that knowledge
in house is really important and because to your point,
like the brand really matters. I mean, I am, oh

(55:00):
if I see a font that I it's just not
quite right, or like the messaging isn't quite right, it
doesn't feel right. Like that's exactly how our clients are
going to hear it too, And I mean they have
to they have to resonate with you, you know. And and
so for us right now, we we're kind of I mean,
it's actually we're really like doctor Wakeels was talking about

(55:20):
this this gentleman that walked into the practice the other
day that she had never met. Well, that's our events
and Partnership coordinator because and that's a new role and
events and Partnership coordinator. You know, we also have just
recently hired a full time data analyst for I mean
really for marketing. Like that's why, you know, so we
can connect all of the digital pieces of this puzzle,

(55:43):
because it's not you know, it's not just the content
creation anymore. You've got to hook up you know, g
GTM and GA four and the database warehouse and what's
going on with power bi and can we attribute these
leads to these sales over here? And I mean it's
it's it's it's actually it's it has to be beautiful,

(56:04):
it has to feel right, and you also have to
have this really quite you have. Yeah, you have to
have a quant behind it also to get the answers.
And so for us, that's where it's going. It's going
in house and analytical. I think the.

Speaker 4 (56:21):
Biggest mistakes that that we've certainly made and I've seen
other people make, is the idea like a lot of
people are out there who can make really pretty pictures
and really cool content, and they think that's what marketing is,
and that is not what marketing is. That's content. But
marketing needs to have all of this. It needs to
be data driven and it needs to be accountable. And

(56:41):
it's so easy to hire somebody who can create awesome
content and think that that's going to fix your problem
and it doesn't.

Speaker 2 (56:47):
Yeah, yeah, that's a great point. You have to look
at the data. I mean you have to look at
you know, what is the what are the KPIs, what
is the cost per lead, what is the patient acquisition cost,
what's patient lifetime value? And really understand your data. Yeah,
I've studied that a lot, and you know, it's most
most practice owners are well well below benchmark on where

(57:09):
they should be.

Speaker 3 (57:10):
Yeah, tell us where should they where.

Speaker 2 (57:12):
Should where should they be?

Speaker 4 (57:14):
Yeah?

Speaker 3 (57:14):
Yeah, I mean I'm sure everyone else wants to know that.

Speaker 2 (57:17):
Yeah, yeah, yeah, yeah, I mean it's look. I so
I'm a big fan of collecting data. AI am a nerd.
I you know, I've been in technology and digital marketing
for twenty years and I built my own CRM system.
In fact, I brought CRM to medical aesthetics. I want
to I want to say that I was the guy

(57:38):
that kind of spearheaded that, and uh, you know, so
I have that background, but some kind of a nerd
in a way. So every time one of these e
m rs or AMSPA or you know, Qusite comes out
with a publishing growth inty nine did one? Terry Ross
has great data. He put one out, repeat MD put
one out. Anytime I'm on their list. Podium has one,

(57:59):
and so I analy and then I put it into
a chat g GPS and then I kind of it
puts me in a position to really analyze the entire
industry and kind of peek out on it.

Speaker 3 (58:12):
Yeah.

Speaker 2 (58:12):
Yeah, it's a it's a custom GTPs that I have.
It's it's pretty cool. Drop me an email afterwards and
we can I can give it to you, but it's
it's it will tell you, you know, what benchmarks are, what
is happening in the industry, how fast the GLP one
movement is overall in aesthetics. How many medical asthetics practices

(58:33):
are they? How many you know, broken down by neurotoxins
versus fillers versus micro needling demographics. It's really interesting. You know,
the average, the average patient spend per visit is five
hundred and thirty seven dollars. That's the average. Now there's

(58:53):
some that are well above that. And I think, you know,
we could do a better job of the consultation process
and building out a treatment plan and we should be
more like thirteen fourteen, fifteen, you know, two thousand dollars
a visit. Really, if we're trying to give the outcome
to the patient that they're looking for, and I think
a lot of us they fall short, and we kind
of discount to compete with the other competition out there,

(59:17):
and really who takes the hit as the patient? Unfortunately,
you know, I don't know how much you can really
revolutionize your confidence with that level of ticket, which is
just the way it is. I think, sure, there's an
argument there, I guess, but I think if you want
to really make change there, you know, there has to
be a higher cost. Now, when you look at the

(59:39):
average patient acquisition cost in this this is kind of
a national average, it's right around one hundred and fifty dollars.
Cost per lead is south of that. But you know,
these are the type of things that people need to
look at. Now, when you look at marketing spend, true
marketing spend, we did a big survey to a lot

(01:00:00):
of a lot of practice owners. Most of them are
spending south of twenty five hundred dollars a month, most
of them I'm talking ninety percent that we surveyed.

Speaker 3 (01:00:13):
As a percentage of twenty five hundred.

Speaker 2 (01:00:16):
Total No, twenty five hundred total spend on marketing monthly.
That's what I'm saying. And if the average medical assetics
practice is doing one point four million, where you should
be ten to fifteen percent of total revenue to back
to spend, you can get away with you know, you

(01:00:38):
could table that down if you want to. Seven eight Fine,
I mean these aren't like this is where you should
be if you're trying to grow, But that's a massive delta. Right.
If somebody is spending thirty thousand dollars a year and
they're doing one point five million, and they're trying to
grow at their utilization rates are fifty percent, okay, and

(01:01:00):
then what I see them do a lot of times
they want to go open up location too when utilization
rates are fifty percent and their marketing spend is one
percent of revenue, when really it's like, you know, maybe
boosts that up to eight percent, you know, just slowly,
you know, in transies, if you will get up to
the ten, get your utilization rates eighty five percent, ninety
percent before you go to the next location. I see

(01:01:22):
that mistake happen a lot, and so you know, just
to give you a little bit of data on that.
It's yeah, the national average is fifty percent on utilization,
which is really lo.

Speaker 3 (01:01:33):
Huh Yeah, that's yeah. You can't grow with that.

Speaker 2 (01:01:38):
No, it's it's uh really, you know, it's.

Speaker 3 (01:01:40):
It's if all you're doing is the utilization is fifty percent.
Is a job. You just have your job. Just as
we as we define could you define utilization? How are
you defining utilization?

Speaker 2 (01:01:49):
Just so make sure capacity basically, how many hours do
you have in a day, rooms and providers, So.

Speaker 3 (01:01:54):
You're counting like times that are blocked off the schedule
safe for lunch or for you know, you clock them
before you start patients, right like you fucking it.

Speaker 2 (01:02:01):
Yeah, whenever the clinic is open accepting patients, right whenever
you whenever hours are able to be sold.

Speaker 3 (01:02:07):
Ours sold, ours.

Speaker 2 (01:02:09):
Ours sold yep, yep. It's about fifty percent. And that's
a that's a survey that we that we sent out
and amspa's data quy sites kind of matched the same
thesis there, and so when we're saying we're doing seventeen
billion a as an industry, it's great, but it's like, wow,
I think we're leaving a lot of meat on the table.

Speaker 3 (01:02:28):
And that's just you know, I mean, that comes down
to marketing and operations right there. That comes down to scheduling.
Like let's say you're fifty percent book. There's two ways
to look at that. You either have too much time
on the calendar or not enough clients coming in. Obviously
it's a combination of both. But let's just talk about
the fact that you know you could schedule people so
you are eighty five percent book, right, now, you know,
and the right and then also kick up the marketing spend.

(01:02:51):
You got to make sure that you're looking at your
cost of acquisition and you're making sure that you're actually
making money on that marketing spend, because if you're not,
then just then you need to figure out something else, right, Like,
that's a two sided problem. That's we've always looked at
it from both of those sides.

Speaker 2 (01:03:07):
Yeah, yeah, it's it's it is a real problem, you know,
And I think it just continues to build on the
education that's needed within the industry in a tremendous way.
I think it's really important obviously advance your skill set
when it comes to clinical right like SEEE credits going,
you know, those types of things, very very important new techniques.

(01:03:28):
What are people doing. But I surely feel that we
need to do a better job as educators on the
business side.

Speaker 3 (01:03:35):
So one hundred percent agree. I agree, one hundred percent,
and I would just love I mean, it's my hope
that this industry just I mean, it's proven that it's
going to grow like crazy. It's proven that it's not
some sort of like fitness fad. You know, we're not
like CrossFit or whatever. It is right, right, that's very
it is here to stay. But now it's time for

(01:03:55):
us to grow up and you know, and mature a
little bit, and that means learning these other things that
come to your point. I mean, it's so important that
providers take marketing seriously in operations and finance and and
just really start learning so that they can grow with
all of this great growth that's happening the seventeen billion

(01:04:16):
dollar industry, right, I mean, yeah, yeah, And I don't
want to see the little guys get left behind. Like
there are some big players coming in, you know, and
they are like it's like take no prisoners, you know.
I mean, we might not, we might not fundamentally agree
with what's happening in the world of private equity or

(01:04:36):
some of these other things. But the reality is if
they're you've always got to you got to look at
the people are out there and say, okay, but what
are they good at? Because there's that's how you learn, right,
And you can look at private equity like it or not.
You know, one, they're not necessarily going to take care
of the culture, but they are certainly focused on operations, right,
and so what can we learn from that kind of

(01:04:58):
environment that will allow us as individual providers to grow
and thrive without having to make choices that maybe we
hope we don't have to make some day when it
comes time to step away, because I mean that, you know,
everybody exists in business first otherwise, right like that it
will happen.

Speaker 2 (01:05:18):
Yeah, so it will happen. It is happening. It's happening.
I mean as of today. You know, I think the
last start I read was, you know, private equity owns
roughly three to five percent of the industry that's projected
to skyrocket pretty rapidly in the next five years. And
look for the listeners out there. What these guys are

(01:05:41):
saying is just absolutely it's so true. Guys. It's you
work so hard to build what you have, and most
practice owners sell too soon. They get burned out, you know,
whatever the case is, or there's like this this financial
ticket at the end. Make sure you have your utilization

(01:06:03):
rate in order, make sure you have ops in order,
make sure you know your numbers, make sure you know
your p and ls, your cost of goods sold broken
down by services and treatments. Know what's happening in the industry.
Because I've seen practice owners get taken advantage of in
a major way, like great Brand, Great run Rate, had
tremendous success, utilization rates fifty percent, marketing spend is below

(01:06:25):
five grand, they're doing like three million dollars a year,
and a private equity company just lick in their chops, right.
And I don't want to just like not all private
equities bad, but I'm just saying, like that is a
great business that all you have to do is put
marketing on the fire. They're gonna come and they're gonna
buy it. They're gonna double the marketing spend. They're going
to get your utilization rate up to eighty percent. They're

(01:06:46):
going to make more money than you did in two
to three years. And they didn't even do one injection
or they didn't they weren't even ever at the practice,
you know. And I think, like to your point, the
little guys could get left behind. I think that's very
very true statement if they if we don't start getting
very serious about knowing the numbers, the benchmarks, the KPIs

(01:07:08):
and what's coming and continue to educate ourselves.

Speaker 3 (01:07:11):
Greed agreed.

Speaker 2 (01:07:13):
Yeah, well, you ladies have been great. Thank you so much.
I feel like we could talk for hours, and I'm
going to let you go enjoy that that wonderful mountain
air that you have and spend time with the kids
as the summer wraps up. But you've been great. Thank
you so much. Where can people find you? How can
they connect with you? Like your powerhouses you I know

(01:07:34):
you have big visions for how many offices and locations
you have coming we were talking offline. It's incredible and
you are a walking success story. And uh and Matt
five years from now, I know it that you're going
to have all these locations and I want to do
another episode. Yeah, yeah, for sure. This is awesome. How

(01:07:55):
can they connect with you and find you? And like,
I don't know if you do any consulting for providers
or practic owners, but maybe one day you will, you know,
And how can people connect well?

Speaker 3 (01:08:04):
First, and thank you so much for having us. This
has been just such a pleasure to connect with you people.
If they would like to find me, so this is Dominique.
I know we sound very similar, so you may not
be able to This is Dominique. If you'd like to
connect with me, you can find me on LinkedIn and
it's at Dominique Wables hype and Truffle. That's my handle.

(01:08:25):
You can if you're in Dender or in Colorado, please
go to our website, come in and see us at
restore and that's restore medical Spot. There is no E
on the end of restore dot com. And to your
answer your last question, do we do any consulting, we don't.
But I will tell you what. I am always here

(01:08:46):
to help a business owner who is putting in the
work and needs help that I speak at some both
of us speak at some conferences, and you know, we
obviously do these podcasts. We you know, other people help
us along the way, and we are happy to help
those who are really working hard and just you know,

(01:09:07):
just need to to solidify some things in their mind
and just need that one little piece just to get
them moving forward. And we are well, I think, both
of us, but we are happy to do that. Yeah,
I mean, you know, for somebody, for somebody who will execute. Yes, yeah. Always.
There's there's so many people out there and you know,
you talk to like after conference or whatever, and you
know they say, oh, I.

Speaker 4 (01:09:26):
Don't know what to do it, and you're like, this
is what you do, and people won't ever do it.
You know, because it's hard, but that but that five
or ten percent that will do it. We love those people,
you know, so.

Speaker 3 (01:09:39):
You and they can find me on LinkedIn doctor w Flora. Yeah,
so this is embarrassing. I don't know my LinkedIn handle
because it's just like automatically comes up. But I'm logging.
But if you search with Flora Waybeles, there's only one
of me. You know, it's not a time, not a
time because it's n not a comment.

Speaker 4 (01:09:57):
So so if you if you search with Flora Waybeles
for store medical, you'll find me. And LinkedIn is a great,
great place to find me. And yeah, again, thank you
so much for having us. This has been absolutely absolutely
wonderful and I really appreciate you. And yeah, five years,
five years do it again.

Speaker 2 (01:10:11):
No, it's going to be sooner than that, but five
years is going to be awesome to see. Yeah, it's
been great, Thank you so much for joining. If there
you guys have it, check these ladies out. Go check
out their website, get check out their brand. You know,
it's restore medical spot dot com. Go to their instagram. Right,
you can find it from the website, of course, but
restore medical Spot is there is there handle. I'll leave

(01:10:33):
it at that. Guys, and if you found this particular
episode valuable, my only ask is you share, share with
your brands, your colleagues. Anybody can get insight and credible
knowledge from this and there will be some that take action,
you know, and some that dope. That's my only ask.
I'll leave it at that. Thank you so much. Until
next time, Happy injecting. Thanks thanks for tuning in to

(01:10:55):
Medical Millionaire. Every week, we're here to help you transform
your practice to a thriving, profitable venture, covering everything from
marketing and patient bookings to mindset, workflow, automation, and beyond.
Whether you're just starting out, scaling up, optimizing operations, or
planning your exit strategy, this podcast is your go to

(01:11:17):
resource for success in the medical esthetics industry. It's time
to supercharge your practice and take action today. Share this
episode with a fellow entrepreneur, Rate the show, and don't
forget to click the link in the show notes to
access powerful tools and expert guidance at get dot growth
ninety nine dot com, slash MM, and make sure to

(01:11:39):
tune into the next episode A Medical Millionaire

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