In this video, I'm breaking down the top five mistakes I made while growing Genesis to $26 million per year. These insights will help you avoid the pitfalls I encountered, so keep watching.

Mistake #1: Trusting One Marketer

‍We made the critical error of trusting one marketing company without proper oversight. They spent $40,000 in 45 days with zero ROI, pushing us into a financial crisis. Always set a budget, have a management fee, and track key performance indicators.

Mistake #2: Borderline Treatments

‍Initially, we focused on stem cell treatments, which, while allowed, weren't favored by the FDA. This put us at risk of legal issues, so we pivoted to more established treatments like hormone therapy, weight loss, and aesthetics, ensuring smoother operations and peace of mind.

Mistake #3: Running on Feelings, Not Data

‍We mistakenly believed our laser hair removal service was profitable because it was always busy. However, a detailed financial analysis revealed it was costing us money. Always base business decisions on data, not feelings.

Mistake #4: Wrong Location and Partners

‍We built a clinic in a less affluent area of Greenville, SC, against our better judgment, leading to poor performance. Additionally, our partner in that location was uncooperative. Choose your clinic locations and partners wisely to ensure alignment with your business goals.

Mistake #5: Lack of Standard Operating Procedures (SOPs)

‍Not having SOPs in place initially hindered our ability to scale. SOPs are crucial for consistent operations, training staff, and maintaining quality. Implementing them has significantly boosted our efficiency and growth.

In conclusion, these five mistakes taught me valuable lessons. Set clear marketing controls, avoid borderline treatments, rely on data, choose the right locations and partners, and establish SOPs. These strategies will help you grow your business more effectively.

Thanks for watching, and I hope you find these insights helpful. If you want more tips and strategies, check out my other videos.

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