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FAKTR Podcast #102 FAKTR Podcast - Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2
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Sure thing! Based on the transcript provided, here are some title variations for the podcast episode: 1. Navigating Associate-Practice Owner Relationships: Practical Strategies for Compensation and Trust 2. Building Successful Chiropractic Partnerships: Compensation Models, Trust, and Communication Tactics 3. Associate and Practice Owner Success: Strategies for Compensation, Communication, and Retention 4. Perfecting the Chiropractic Associate Role: Compensation Strategies and Trust-Based Relationships 5. Cultivating Thriving Associate-Owner Relationships: Trust, Compensation, and Communication Insights 6. Empowering Chiropractic Associates: Negotiations, Compensation, and Building Long-Term Success 7. Effective Strategies for Chiropractic Relationships: Compensation Models and Building Trust 8. Mastering the Associate-Practice Owner Dynamic: Best Practices for Compensation and Growth 9. Thriving in Chiropractic Practice: Building Trust and Effective Compensation Structures 10. From Trust to Compensation: Strategies for Successful Associate-Practice Owner Relationships Hope these titles help! Let me know if you need anything else.

💬 Keywords
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Sure! Here are 30 topical keywords covered in this transcript: 1. FAKTR podcast, 2. clinical skills, 3. patient care, 4. business strategies, 5. mindset shifts, 6. health care provider, 7. compensation structure, 8. salary negotiations, 9. associate responsibilities, 10. practice owner, 11. integrity, 12. communication, 13. trust, 14. professional relationships, 15. employee value, 16. mentorship, 17. leadership, 18. associate pay, 19. retention bonus, 20. exit strategy, 21. chiropractic practice, 22. patient outcomes, 23. practice growth, 24. clinical experience, 25. business management, 26. hiring associates, 27. chiropractic entrepreneurship, 28. associate practice owner relationship, 29. compensation models, 30. negotiation strategies. Let me know if you need any more help!

💡 Speaker bios
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Dr. Lisa Goodman is an insightful professional known for her advocacy on negotiating employment terms. In her teachings, she emphasizes the importance of discussing and agreeing on job compensation and conditions before accepting an offer. Dr. Goodman advises associates, particularly those transitioning from academia to the workforce, to seize the opportunity to negotiate their preferences—be it salary, hours, or specific job duties—when a job offer is extended. Her approach empowers individuals to take control of their career paths right from the start, underscoring the importance of clear communication and strategic planning during job negotiations.

🎞️ Clipfinder: Quotes, Hooks, & Timestamps
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Dr. Lisa Goodman 00:07:38 00:07:45

"Building Trust in Your Practice": "So in a chiropractic practice, if owners trust their associate and associates trust their owner, that's where it all starts."

Dr. Lisa Goodman 00:10:41 00:11:04

Balancing Risk and Reward in Employment: "Owners have pretty much all the risks. So sometimes when people are evaluating compensation structure and they think an offer of 35% is way too low, well, what has to be taken into consideration is the three months it took to find the right associate, where the owner has spent more time on interviewing and training than they have on the business or treating patients."

Dr. Lisa Goodman 00:25:49 00:26:07

"Work-Life Balance Imperative": "So when you're at work, you are doing your work with integrity, doing what you said you're gonna do, and making sure that when you're outside of work, you're having your free time, you are not called on upon at all, and you can go hiking, skiing, travel, hang out with your family, and in all that free time that you deserve."

Dr. Lisa Goodman 00:29:45 00:29:51

"Collaborative Success in Chiropractic": "I believe the more successful our profession is, the more successful all of our individual practices will be."

Dr. Lisa Goodman 00:36:06 00:36:15

"Leadership and Growth in Practice": "Your associate should be incredibly busy before you even think about adding another location, and they should be somebody who has shown leadership in your practice."

Dr. Lisa Goodman 00:39:30 00:39:35

Title: The Benefits of Paying Based on Productivity

Quote: "I like to pay based on the doctor doing the production, not the actual payment."

Dr. Lisa Goodman 00:43:57 00:44:09

"Unlocking Your Raise": "If they've hit a hundred patients a week for six months and they have a waiting list, that's an easy conversation. I probably will mention giving you a raise before you'll even ask for it at that point."

Dr. Lisa Goodman 00:45:55 00:46:02

Avoiding Red Flags in Job Interviews: "Oftentimes, as owners, we just want to find someone who's a good fit for our practice, but it is important that our practice is a good fit for the associate as well."

Dr. Lisa Goodman 00:48:20 00:48:23

"Interview Red Flags: 'Anyone who's late for an interview is out immediately.'"

Dr. Lisa Goodman 00:58:12 00:58:23

Starting a Chiropractic Practice: "The book covers how to start a practice from zero to... from actually the last few weeks of chiropractic school all the way through the end of the first year of your practice is really what the goal was."

ℹ️ Introduction
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Welcome to the FAKTR Podcast! In today's episode, we're diving into some invaluable insights on building a successful relationship between practice owners and associates. Our special guest, Dr. Lisa Goodman, joins us for the second part of our series focused on effective strategies and tactics for this unique professional dynamic. Whether you're a healthcare provider entering your first contract as an associate or you're a practice owner looking to expand your team, this conversation is packed with actionable tips you can apply right away. Dr. Goodman delves into structuring compensation, navigating salary negotiations, and forging long-term partnerships that benefit both the provider and the practice. Get ready to explore these crucial aspects of growing your career or scaling your practice. Let's dive into this enlightening discussion with Dr. Lisa Goodman!

📚 Timestamped overview
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00:00 "FAKTR Podcast: Health Practice Insights"

10:37 Risk vs. Reward in Employment

15:39 Ways to Value Employees

21:29 Salary Risks vs. Commission Risks

25:35 Ideal Work-Life Balance Job Criteria

32:52 Delegation and Trust in Partnerships

39:19 Paying Doctors Based on Production

43:34 "Raise Linked to Performance Metrics"

45:45 Evaluating Job Fit and Red Flags

54:52 Self-Imposed Limits Affect Productivity

59:13 "Associate Practice Owner Relationships"

01:01:48 "Check Show Notes"

❇️ Key topics and bullets
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Here's a comprehensive sequence of topics covered in the transcript, along with sub-topic bullets: 1. **Introduction** - Overview of FAKTR podcast and its focus areas - Episode introduction and context 2. **Exploring Practice Roles** - Decision-making between becoming a practice owner, associate, or independent contractor - Real-world implications of these roles 3. **Associate Practice Owner Relationship** - Structuring compensation and salary negotiations - Strategies for creating a long-term partnership - Responsibilities of associates in negotiation and role execution 4. **Integrity and Communication in Practice** - Importance of showing integrity in practice roles - Communication skills and responsibilities of associates - Associate responsibilities to enhance practice growth 5. **Trust and Loyalty in Chiropractic Practice** - Building trust from top-down and bottom-up in a practice - Fostering loyalty and its impact on practice success 6. **Opportunities for Associates and Employers** - Benefits of hiring an associate for practice owners - Opportunities for associates in low-stress and mentorship roles - Risk and reward considerations in practice roles 7. **Effective Communication and Trust** - Approaches for practice owners to show value to associates - Strategies for associates to demonstrate value to employers - Leadership and mutual respect in practice environments 8. **Compensation Structures** - Different methods of paying associates (salary, commission, base plus commission) - Factors in choosing the right compensation structure 9. **Optimizing the Associate-Owner Relationship** - Advantages of a mutually respectful relationship - Successful elements of associate and owner partnerships 10. **Challenges and Considerations** - Addressing potential issues with associates leaving and taking clients - Tips for handling referrals and community relationships 11. **Audience Q&A and Practical Advice** - Participants' concerns and questions on related topics - Advisory on specific scenarios and challenges 12. **Conclusion and Resources** - Final thoughts and parting advice - Invitation to explore further resources, including Dr. Lisa Goodman’s book Feel free to dive into any of these topics for more detailed insights or specific queries!

🎬 Reel script
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On the FAKTR Podcast, we uncovered how to master the associate and practice owner relationship. Whether you're a healthcare provider fresh out of school or growing your practice, Dr. Lisa Goodman shares practical steps to structure compensation, navigate negotiations, and build a trusting, thriving workspace. Discover how to architect your career path by fostering communication, trust, and mutual growth. Ready for actionable insights to elevate your practice? Tune in and learn to work smarter, not harder.

👩‍💻 LinkedIn post
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🎙️ Exciting news from the latest episode of the FAKTR Podcast - "Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2." We were thrilled to feature Dr. Lisa Goodman as our guest, sharing insights and actionable strategies to build successful relationships between associates and practice owners. Here are three key takeaways from our insightful conversation: - **Negotiate Early:** Associates should negotiate their compensation and other job details prior to starting. This sets expectations and ensures everyone is on the same page from day one. - **Mutual Trust:** Building and maintaining trust is vital. Both parties should engage in open, honest communication and aim for a long-term commitment to gain mutual success. - **Flexible Compensation Models:** Understand and implement flexible compensation structures, such as base plus commission, to balance risk and reward for both the associate and the practice owner. Have you experienced any challenges or successes with associate-practice owner relationships? Share your stories in the comments! 👇 #FAKTRPodcast #Healthcare #Chiropractic #BusinessGrowth #PartnershipSuccess

🗞️ Newsletter
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Subject: Enhance Your Associate-Practice Owner Relationships Dear FAKTR Family, We hope this newsletter finds you well and thriving in your professional journey! Episode 2 of our business focus series featuring Dr. Lisa Goodman provides rich insights into creating successful associate-practice owner relationships. If you've ever sought effective compensation models, negotiation strategies, and trust-building methods, this episode is a must-listen. In this episode, Dr. Goodman dives into essential tactics such as fair compensation structures, the significance of negotiation, and the rewarding nature of a well-maintained associate-practice relationship. Whether you're preparing for your first contract or aiming to improve an existing dynamic, you'll find actionable insights to implement right away. Additionally, ensure your team feels valued with Dr. Goodman's strategies on open communication, offering retention bonuses, and investment in continuing education. Your associates are a vital part of your practice's growth – empower them with leadership opportunities and a clear direction. Don't miss out on this opportunity to enhance your own practice standards. Remember, building a supportive and successful relationship benefits both the provider and practice owner, fostering growth for the entire profession. Join us on our journey through chiropractic entrepreneurship, and be sure to share your associate experiences with us for a chance to be featured in our future episode on anonymous horror stories. We can learn and grow from these tales together! Lastly, don't forget to register for our upcoming free master class on April 17, focusing on hemp in healthcare with Dr. Clint Sellers. Dive into this insightful episode and gear up to transform your chiropractic career. We’re excited to be on this journey with you! Warm regards, The FAKTR Podcast Team P.S. If you haven't grabbed your free chapter of Dr. Lisa Goodman's new book, be sure to check out the link in our show notes!

🧵 Tweet thread
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🚀 Ready to level up your practice? Dive into gems from the recent FAKTR podcast! 1/ 🌟 Welcome back to the FAKTR podcast, where we tackle the stuff they didn’t teach you in school—like growing your practice and refining clinical skills. (via @FAKTRPodcast) 2/ 🤝 Building strong associate-practice owner relationships is key! Dr. Lisa Goodman shares strategies for compensation and long-term partnerships that benefit everyone. 3/ 💬 Open communication is vital. Dr. Lisa stresses the importance of integrity, asking for clarification, and being solution-oriented in any healthcare setting. 4/ 💸 Let’s talk compensation! Associate responsibilities include negotiation before accepting a job—ensure everything aligns with your needs right from the start. 5/ 🤔 Owners, consider offering a retention bonus to keep talented associates long-term. It’s a win-win for trust-building and mutual growth. 6/ 🏡 Create a practice culture that values loyalty. It’s not just about numbers; it's about supporting growth and community trust both inside and outside your practice. 7/ 🎯 Use a base plus commission model to balance risk between owner and associate. It’s all about sharing success and making sure everyone’s invested. 8/ 📚 Want more insights? Dr. Lisa Goodman's book sheds light on building a profitable, brand-forward practice from scratch. 9/ 👁️‍🗨️ Missed the discussion? Check out the podcast replay for deeper dive into managing patient care, business strategies, and avoiding professional burnout. Join the conversation and tell us about your experiences or the hurdles you've faced in your journey. Any horror stories or triumphs to share? 👇 #FAKTRPodcast #HealthcareManagement #ChiropracticCare

❓ Questions
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Here are 10 discussion questions based on the episode "FAKTR Podcast - Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2": 1. In the episode, Dr. Goodman emphasizes the importance of negotiating compensation before starting a job. Why do you think this timing is crucial, and how might it impact the associate's career trajectory? 2. Dr. Goodman mentions the "Speed of Trust" book and its relevance to building trust in a practice. What are some practical steps you can take to establish trust as an associate or a practice owner? 3. Integrity is a key expectation Dr. Goodman has for associates. How does practicing with integrity translate into better patient care and a positive work environment? 4. The episode discusses the concept of a retention bonus versus non-compete agreements. What are the potential advantages and disadvantages of each approach? 5. Dr. Goodman talks about the diverse opportunities for both associates and practice owners. How can associates capitalize on these opportunities to propel their careers forward? 6. Jessica Riddle asks about the variable nature of insurance reimbursement and its impact on compensation. How might practices address these challenges to provide fair payment structures for associates? 7. The episode touches on building relationships with professional referral sources. Why is it important for associates to be involved in these relationships, and how can they contribute to strengthening them? 8. Dr. Goodman shares her perspective on hiring interns versus associates with previous experience. What are some of the potential pros and cons of each hiring approach for a practice? 9. A discussion point mentions the risk and reward in associate-practice owner relationships concerning compensation. How do owners balance offering competitive pay while managing their business risk? 10. The episode ends with a call for sharing anonymous horror stories about challenging experiences in practice relationships. What lessons can practitioners learn from less-than-ideal job situations, and how can they apply them to foster stronger workplace dynamics?

🪡 Threads by Instagram
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Sure! Here are five threaded posts for Instagram's new app, "Threads," inspired by the content you provided: 1. Navigating the associate-practice owner relationship requires open communication, trust, and integrity. It's all about finding the right fit and ensuring mutual growth. Your practice should feel like home, a place where everyone thrives together! 2. Compensation isn't just about numbers. It's a reflection of growth, trust, and shared success. Whether you're an associate or an owner, understanding the value of your work and being solution-oriented can lead to long-term benefits. 3. To all the associates out there: Show up with integrity, communicate well, and always strive to grow with your practice. Remember, loyalty and trust are your keys to a thriving career, especially when you love where you work. 4. Owners, want to keep your associates feeling valued? It's not just about money. Provide mentorship, leadership opportunities, and a clear growth path. Your practice will benefit from their commitment and fresh ideas! 5. Dreaming of starting your own practice? Remember, it's all about preparation and planning. From establishing your mission to managing finances, taking the right steps can turn your vision into reality. Let's build a chiropractic community that supports each other!

Blog posts for podcast website prompt - main points
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**Blog Post Part 1: Navigating the Associate-Practice Owner Relationship** In the ever-evolving field of healthcare, one aspect that often gets overlooked is the dynamic relationship between associates and practice owners. Our latest episode on the FAKTR podcast dives deep into this often tricky terrain, offering invaluable insights and tips to ensure a symbiotic relationship. In today’s recap of Part 1, we’ll highlight some of the key points discussed, focusing primarily on the strategies for both associates and owners as they embark on this journey together. One of the central themes of the episode is the importance of communication. Whether you're an associate fresh out of school or a seasoned practitioner looking to join a practice, it's essential to clearly communicate your needs and understand the expectations from the very beginning. As Dr. Lisa Goodman emphasized, associates need to actively negotiate their contracts before starting the job. It's crucial to voice any preferences regarding compensation, holidays, or additional responsibilities during the initial phase to avoid possible friction later on. The takeaway? Lay your cards on the table early for a smoother relationship. Speaking of responsibilities, integrity plays a significant role. Associates must show up every day committed to their duties, adhering to the job description they've signed. This means practicing with integrity, not just when supervisors are present, but consistently. Integrity also extends to communication - if there’s a task that doesn't make sense or a problem that arises, being solution-oriented and transparent about challenges can go a long way. The foundation here is simple: do what you say and say what you mean. Trust is another cornerstone of a strong associate-owner relationship. Both parties must trust each other to foster a productive environment. Associates should demonstrate loyalty to the practice, from sharing content online to promoting the practice within their network. A potential breakdown in trust can not only affect the internal dynamics but also impact patient trust and community perception. As Dr. Goodman highlighted, if you feel a trust breakdown with your employer, it might not be the right fit, and you should consider reaching out for advice. The episode doesn't shy away from addressing compensation structures, a topic that often evokes anxiety. Dr. Goodman outlined different pay structures, from base salaries to commission-based models, highlighting that it's vital for associates to ensure they’re fairly compensated for the risk and work they undertake. From the owner's perspective, clear communication and structured payment plans can prevent future misunderstandings and promote a harmonious work environment. Towards the end, Jessica Riddle opened up the discussion to the audience, addressing audience questions, including how to handle external professional relationships. The underlying principle of it all is to trust those you involve in your practice and encourage open lines of communication. In essence, the first part of our in-depth series on associate-practice owner relationships sets the stage for understanding the multifaceted dynamics involved. Communication, integrity, and trust emerge as significant themes, with actionable insights that both associates and owners can leverage. Stay tuned for part 2, where we delve further into maximizing the associate-owner relationship. --- **Blog Post Part 2: Enhancing the Associate-Practice Owner Connection - Practical Insights** In part 2 of our podcast series on the FAKTR podcast, we continued our exploration of the associate-practice owner relationship, delving deeper into practical strategies that can enhance collaboration and mutual growth. Led by the insightful discussions of Dr. Lisa Goodman and host Jessica Riddle, this episode offers an array of actionable insights for anyone involved in this professional partnership. One of the core discussions centered around the employer's opportunities when hiring an associate. As Dr. Goodman explained, bringing in fresh talent creates a wealth of growth possibilities, from expanding practice hours to introducing new services and developing new marketing ideas. The freshness and innovation new associates can bring are boundless, but owners must be willing to take a leap of faith and nurture their associate's development. For associates, a significant opportunity lies in shaping a fulfilling career without the added stress of running an entire practice. The episode sheds light on how associates can enjoy the benefit of mentorship and gain credibility by working in an established practice. Furthermore, Dr. Goodman emphasized risk and reward, pointing out that while compensation might seem lower initially, the experience and stability gained can be invaluable in shaping a long-term career. One of the standout moments of the episode was the discussion around compensation models. Dr. Goodman advocates for the base plus commission model as it allows for shared risk while providing associates with the potential for growth as they prove their worth. This model fosters both productivity and satisfaction, encouraging associates to put their best foot forward. We also moved onto the topic of maintaining a strong and responsive relationship by understanding each other's value. Dr. Goodman breaks this down into practical steps such as offering retention bonuses, leadership opportunities, and demonstrating appreciation. Both parties benefit greatly when they feel valued, which often translates to a more thriving practice. Throughout the discussion, the importance of planning and structuring a clear exit strategy was also highlighted. Good communication about this aspect ensures that both the associate and the owner are on the same page and can handle transitions smoothly. The key takeaway here is the ideology of abundance begets abundance; mutual growth benefits not only the individuals involved but the chiropractic profession as a whole. Jessica Riddle rounded off the session by fielding questions from the audience, where concerns about setting expectations, negotiating raises, and structuring the hiring process were addressed. These real-world issues lead to actionable solutions, providing listeners with resources to handle similar scenarios in their professional journeys. In summary, part 2 of the episode encapsulates strategies and rich insights for both associates and practice owners. The essence is in nurturing a partnership built on shared goals, clear communication, trust, and genuine appreciation. Together, associates and owners can foster a thriving practice that stands the test of time. Stay tuned for more from the FAKTR podcast.

Blog posts for podcast website prompt - main points
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Episode Summaries from the FAKTR Podcast with Dr. Lisa Goodman **Part 1: Enter the Practice World - Choices and Realities** In this inaugural segment of the FAKTR Podcast series with Dr. Lisa Goodman, listeners delve into a pivotal career question: What path should you choose as a burgeoning chiropractor? The age-old decision of becoming a practice owner, an associate, or even an independent contractor is unpacked with expert insights from the dynamic duo of host Jessica Riddle and Dr. Goodman. **Key Points Discussed:** - **Career Paths:** Dr. Goodman gives clarity on the pros and cons of each option, emphasizing the importance of aligning one's career choice with personal values and professional goals. - **Real-world Scenarios:** Drawn from real-life experiences, these scenarios provide a realistic picture of what's in store, making sure new practitioners have the insights needed to choose wisely. - **The Ideal Fit:** What does it take to find the right environment? Jessica and Dr. Goodman chat about the nuances of job descriptions, owners’ expectations, and what new graduates should keep in mind. **Takeaways:** - Understand the importance of thorough self-assessment before diving into any specific role. - Remember the significance of negotiating job offers effectively; this is a skill you’ll rely on throughout your career. - Communication is the key. Ensure open dialogue in any work environment, particularly concerning your career aspirations and goals. **Part 2: Finessing the Associate-Practice Owner Dynamic** In the second part of the series, the focus shifts to the intricate relationship between associates and practice owners. Dr. Goodman offers an enlightening perspective on building a harmonious working environment that benefits both parties involved. **Key Points Discussed:** - **Compensation Structure:** Various models such as salary, commission, and base plus commission are explored. Dr. Goodman emphasizes the importance of structuring payment models that motivate associates while ensuring financial sustainability. - **Integrity and Respect:** Dr. Goodman stresses the practitioner's responsibility to demonstrate integrity, show up with respect, and maintain loyalty to the practice. - **Trust Building:** The essence of a successful practice-owner relationship is embedded in mutual trust and understanding, fostering a positive practice atmosphere. **Takeaways:** - Prepare for upfront negotiations regarding job details before committing to a role. - Build strong communication channels so any concern or conflict can be addressed openly and timely. - Understand that the ideal practice-owner relationship thrives on mutual growth and shared excitement for patient care. **Part 3: Strategies for Long-term Success in Practice Collaboration** The final installment of this enlightening series emphasizes strategies for sustaining successful practice-associate relationships. Dr. Goodman taps into trust, compensation, and future planning to draw a roadmap for long-term practice satisfaction and stability. **Key Points Discussed:** - **Future Planning:** Thinking ahead, Dr. Goodman elucidates the idea of exit strategies and retention bonuses, offering tangible ways to maintain healthy long-term relationships. - **Innovation and Growth:** Encouragement for associates to infuse the practice with new ideas, leading to enriched patient care and expansive services. - **Empowering each Role:** Empowerment is emphasized for both parties, allowing freedom and responsibility to drive practice innovation. **Takeaways:** - Adoption of efficient compensation and bonus structures can significantly improve associate retention. - Understanding the dual nature of practice dynamics can lead to a more fulfilling and productive career. - Commitment to continued education and innovation keeps practices thriving and associates motivated. This series has highlighted key strategies for thriving in chiropractic practice, focusing on strong foundational relationships, robust communication, and strategic future planning. Dr. Goodman's insights serve as a beacon for both new and established practitioners aiming to foster a thriving, fulfilling professional life.

curiosity, value fast, hungry for more
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✅ Discover the secrets to a thriving associate-practice owner relationship! ✅ In the latest episode of the FAKTR podcast, host Jessica Riddle dives deep with Dr. Lisa Goodman. ✅ Whether you're on the brink of negotiation or just stepped into the chiropractic world, Dr. Goodman shares actionable insights to elevate your career. ✅ Get ready to build the career you love without burning out. Tune in now! #FAKTRPodcast #ChiropracticSuccess #CareerGrowth [Link to the episode] --- Ready to learn more about structuring compensation, building trust, and negotiating effectively? Don't miss this golden opportunity to hear from the best in the field! 👂✨

✏️ Custom Newsletter
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Subject: Tune In: FAKTR Podcast Unlocks Keys to Successful Associate-Practice Owner Relationships Hey there! We're thrilled to announce that the latest episode of the FAKTR podcast is out now! Whether you're an associate, a practice owner, or somewhere in between, this episode has something invaluable for you. 🎙 Episode Title: Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2 Join our host, Jessica Riddle, and the incredible Dr. Lisa Goodman as they dive deep into the dynamic world of associate-practice owner relationships. We promise, this one's packed with practical advice, real-world insights, and a ton of actionable strategies you can apply right away. 🌟 Here are 5 Key Takeaways You'll Learn: 1. **Negotiating Compensation**: Learn how to effectively negotiate your salary and the importance of asking for what you want before saying yes to a job offer. 2. **Showing Up with Integrity**: Understand the critical role that integrity plays in your daily practice and how it affects everyone around you. 3. **Communication Skills**: Discover why being solution-oriented and asking for clarity is essential to avoid misunderstandings. 4. **Building Loyalty & Trust**: Find out how loyalty can boost your career, from growing your patient base to securing long-term opportunities. 5. **The Perfect Associateship**: Dr. Goodman shares her vision of a mutually beneficial relationship between associates and practice owners. 🎉 Fun Fact from the Episode: Did you know that hiring an associate can be like a cool teacher-student relationship, where both parties learn from each other? It's a win-win that expands your practice’s brand and brings new ideas and energy to the table! 🎧 Don’t miss out on this insightful conversation. It's a masterclass in itself, aimed at creating harmonious and profitable work environments for everyone involved. So what are you waiting for? 👉 **Call to Action**: Click [here](#) to listen to the full episode. Don’t forget to subscribe to our podcast and leave a review if you found the episode helpful. Sharing is caring—forward this newsletter to your friends and colleagues who might benefit from these insights! Thank you for being part of the FAKTR community. We can’t wait to hear what you think about this episode. Catch you next time! Warm regards, The FAKTR Podcast Team

🎓 Lessons Learned
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Sure thing! Here are 10 key lessons from the podcast episode with 5-word max titles and 20-word max descriptions: 1. **Role of Associates** - Associates must negotiate compensation and responsibilities upfront to avoid misunderstandings and ensure a successful, ongoing relationship. 2. **Negotiation Tips** - Seek adjustments to job offers before acceptance. Open communication is vital for successful long-term partnerships. 3. **Show Up With Integrity** - Always do your best work, maintain high standards, and act ethically, even when no one is watching. 4. **Effective Communication Skills** - Clarify tasks and address issues constructively. Bring solutions to problems and foster open and respectful dialogue with owners. 5. **Build Mutual Trust** - Trust between providers is foundational. It extends to patient relationships and reflects on practice reputation within the community. 6. **Compensation Structures** - Explore salary, commission, or base plus commission models. Balance risk appropriately between practice owners and associates. 7. **Retention Bonus Benefits** - Retention bonuses encourage loyalty and reduce turnover. They are a win-win for practice stability and associate satisfaction. 8. **Expand and Diversify Services** - Owners should leverage associates to broaden practice offerings and business opportunities, like new hours or expertise areas. 9. **Mentorship and Leadership** - Associates gain low-risk learning and mentorship opportunities. Owners develop leadership through directing practice growth. 10. **Exit Strategy Planning** - An exit strategy fosters positive transitions, reduces conflicts, and respects both associates' growth and owners' investments.

🔮 Custom Titles
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Sure thing! Here are a few exciting title suggestions for this episode featuring Dr. Lisa Goodman: 1. FAKTR Podcast: Dr. Lisa Goodman - The Secret Formula for Thriving Associate-Practice Owner Partnerships 2. FAKTR Podcast: Dr. Lisa Goodman - Unpacking the Ultimate Guide to Associate Contract Negotiation 3. FAKTR Podcast: Dr. Lisa Goodman - Transforming Associateships: The Blueprint You Wish You Had 4. FAKTR Podcast: Dr. Lisa Goodman - Unlock Career Success: The Associate Owner Partnership Demystified 5. FAKTR Podcast: Dr. Lisa Goodman - Elevate Your Practice: Strategies for a Seamless Associate Transition These titles capture the essence of what Dr. Lisa Goodman discusses in this episode about building successful relationships between associates and practice owners.

📓 Blog Post
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**Title: Navigating the Intricacies of Associate-Practice Owner Relationships: Strategies for Success** **Subheader: Building Trust, Effective Negotiations, and Clear Communication as Cornerstones of a Thriving Chiropractic Practice** In the ever-evolving world of chiropractic care, the relationship between an associate and a practice owner can be both rewarding and, at times, challenging. For many chiropractors, the journey begins with the critical decision of whether to become a practice owner, an associate, or an independent contractor. This choice sets the foundation for future success. In this article, we delve into the key components that make associate-practice owner relationships successful, inspired by insights shared by Dr. Lisa Goodman on the FAKTR Podcast. **Understanding Associate Responsibilities** When entering a new practice, associates carry the crucial responsibility of negotiating their compensation upfront. It's essential to express expectations regarding salary, hours, and benefits before diving into the role. Dr. Goodman astutely emphasizes that negotiations should occur prior to accepting the position, as opportunities to revisit these discussions may not come around for another year. Showcasing integrity is another pivotal aspect of an associate's role. It means consistently delivering high-quality care, even when the owner isn't present, and displaying unwavering professionalism. This cultivates trust not just between the associate and owner but extends to patients who are keenly aware of the practice’s internal dynamics. Effective communication is vital. Associates need to express their concerns and queries candidly, ensuring a clear understanding of tasks and roles. Bringing solutions to challenges faced in the practice, rather than just presenting problems, shows initiative and a commitment to growth. **Owner's Perspective: Trust and Risk Management** Owners have a multitude of responsibilities when integrating an associate into their practice. Not only do they offer mentorship and development opportunities, but they also shoulder significant risks, from the financial burden of salaries to the unexpected eventuality of an associate leaving. Dr. Goodman suggests that trust is a two-way street. Owners need to have faith in their associates, believing in their capability to manage patient care effectively. Conversely, associates should trust the owner's judgment and leadership. A breakdown in this dynamic can lead to ripple effects felt by both patients and the larger community. The compensation model plays a crucial role in this relationship. While some may prefer a set salary or commission-based earnings, Dr. Goodman finds a base plus commission model to be favorable. This balance ensures both parties feel respected and fairly compensated, sharing the risks and rewards of the practice. **Communication and Value** Transparency and recognition in the workplace are as important as financial compensation. Owners should regularly acknowledge the hard work of their associates through appreciation, whether it's through monetary bonuses, gifts, or words of encouragement. Associates, in turn, need to exemplify loyalty and dedication to the practice's mission. Embracing leadership roles within the team and actively contributing to a positive work culture can significantly enhance the sense of value both parties experience. **Preparing for the Future: Transition and Growth** Preparing for an associate's eventual departure should not be a source of anxiety. Instead, viewing it as an opportunity for expansion can be incredibly rewarding. Dr. Goodman advocates for building a seamless exit strategy, supporting associates who decide to branch out on their own, while simultaneously planning for the growth of the practice. For those contemplating giving an associate an ownership stake or opening a new location, this decision should not be taken lightly. The associate should have demonstrated consistent leadership, autonomy, and the ability to handle all facets of the practice independently. **Conclusion: A Symphony of Collaboration** Ultimately, a successful associate-practice owner relationship is rooted in mutual respect, transparent communication, and a shared commitment to patient care excellence. By valuing these principles, both associates and practice owners can foster a collaborative environment that not only nurtures individual growth but also propels the entire practice towards shared success and innovation in chiropractic care.

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**Promotional Post:** 🌟 Unlock the Secrets to a Thriving Chiropractic Practice! 🌟 Are you a budding chiropractor, a seasoned practitioner, or a practice owner looking to elevate your business? Dive into the FAKTR Podcast's latest episode where we uncover essential strategies for a successful associate-practice owner relationship with Dr. Lisa Goodman. 🎧 Episode Highlight: Join our host, Jessica Riddle, and expert guest, Dr. Lisa Goodman, as they share invaluable insights on compensation structuring, salary negotiations, and creating a win-win partnership for associates and practice owners alike. Whether you're hiring for the first time or negotiating your first contract, this is a must-listen packed with actionable tactics! 🚀 Lead Magnet: Ready to transform your practice? Download our FREE guide, “The Chiropractor's Guide to Building Lasting Relationships: Compensation, Communication, and Growth Strategies.” This exclusive resource is loaded with practical tools and expert advice from the episode to help you build a career you love without burning out. 🔗 [Download Now] Join us on this journey to chiropractic success and ensure your practice thrives with informed decision-making and dynamic partnerships. Tune in now and start building the future of your dreams! 📈✨ --- By offering a free guide as a lead magnet, potential listeners are given a tangible reason to share their contact information, which can then be used for further marketing and engagement efforts.

📖 Host Read Intro
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Hey there! Imagine diving into the nitty-gritty of building a successful associate-practice owner relationship. In this episode, Dr. Lisa Goodman joins us for part two of our business focus series. We're sharing all the insider strategies on structuring compensation and creating partnerships that thrive. If you're ready to build a career you love, hit play, and let's get started!

🔘 Best Practices Guide
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**Best-Practices Guide for Associate-Practice Owner Relationship** 1. **Negotiate Before Starting**: Associates should negotiate compensation and terms before accepting a job. It's easier to negotiate terms upfront than mid-contract. 2. **Communicate Openly**: Associates must communicate clearly, asking for clarification when needed, and providing solutions to any issues that arise. 3. **Show Integrity**: Both parties should work with integrity, doing what they say they will, even when no one is watching. 4. **Foster Trust**: Establish mutual trust and communicate openly to prevent issues and misunderstandings. 5. **Loyalty and Investment**: Associates should be loyal and invested in the practice's success. Employers, in turn, should show appreciation through competitive pay and support. 6. **Clear Compensation and Expectations**: Establish fair compensation structures and clear role expectations from the start. 7. **Plan for Growth and Exit**: Discuss long-term professional aspirations and potential exit strategies in advance to ensure mutual benefits.

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Sure! I’ve crafted a 10-question quiz based on the material discussed in the podcast episode. Here you go: ### Quiz: Understanding Associate-Practice Owner Relationships 1. **Question**: According to Dr. Goodman, when should an associate negotiate their compensation? - a) After accepting the job - b) During the first year review - c) Prior to accepting the job - d) After the first six months of work 2. **Question**: What is a key responsibility of associates according to Dr. Goodman? - a) Performing extra marketing duties without compensation - b) Acting with integrity and doing what they say they will do - c) Ensuring they directly compete with the practice owner - d) Negotiating salary regularly, regardless of company policy 3. **Question**: In Dr. Goodman's opinion, what should associates bring to their employer if they find an issue in the office? - a) Complain to other staff - b) A solution to the problem - c) An ultimatum - d) Ignore it to maintain peace 4. **Question**: Which of the following benefits does Dr. Goodman suggest employers should offer to associates? - a) Paid time off and continued education - b) Bonuses only when profits are high - c) The ability to change compensation plans frequently - d) Vacation time that doubles as unpaid market research 5. **Question**: What is one of the opportunities for employers when hiring an associate, according to Dr. Goodman? - a) Increase their own vacation time - b) Expand hours and expertise - c) Significantly reduce overhead costs immediately - d) Slowly phase out of the business entirely 6. **Question**: Why does Dr. Goodman prefer a “retention bonus” over a “non-solicitation agreement”? - a) It ensures loyalty without threats of legal action. - b) It allows associates to solicit patients freely. - c) It includes immediate financial penalties for departures. - d) It simplifies employment contracts overall. 7. **Question**: What does Dr. Goodman suggest is a clear sign that a practice is not a great fit for an associate? - a) The owner is overly communicative. - b) The owner never acknowledges associate suggestions. - c) The associate must maintain a personal patient client list. - d) The office doesn’t use innovative technology. 8. **Question**: According to Dr. Goodman, what attitude should an associate avoid to maintain a healthy working environment? - a) Being highly competitive with other associates - b) Contributing solutions to improve the practice - c) Seeking advice from the practice owner - d) Sharing the practice’s social media content 9. **Question**: What is Dr. Goodman’s stance on associates working under commission-only pay structures? - a) It’s the best model for maximizing earnings. - b) It holds too much risk for the associates. - c) It’s the ideal model for starting out. - d) It’s impossible to sustain in any practice. 10. **Question**: What ultimate quality does Dr. Goodman believe should permeate a successful associate-practice owner relationship? - a) Completeness and dedication - b) Open communication and mutual trust - c) A clear division of duties - d) Hierarchical distinction ### Answer Key: 1. **Answer**: c) Prior to accepting the job - **Rationale**: Dr. Goodman emphasizes the importance of negotiating compensation before starting a job. 2. **Answer**: b) Acting with integrity and doing what they say they will do - **Rationale**: Integrity and follow-through on commitments are highlighted as key associate responsibilities. 3. **Answer**: b) A solution to the problem - **Rationale**: Dr. Goodman advises associates to propose solutions rather than just pointing out issues. 4. **Answer**: a) Paid time off and continued education - **Rationale**: These are benefits Dr. Goodman believes good employers should offer associates. 5. **Answer**: b) Expand hours and expertise - **Rationale**: Employing an associate can help a practice grow by expanding hours and expertise. 6. **Answer**: a) It ensures loyalty without threats of legal action. - **Rationale**: Dr. Goodman views retention bonuses as a more positive alternative than legal threats. 7. **Answer**: b) The owner never acknowledges associate suggestions. - **Rationale**: Ignoring input and communication from associates can indicate a mismatch. 8. **Answer**: a) Being highly competitive with other associates - **Rationale**: Competition within practice can create a toxic work environment, according to Dr. Goodman. 9. **Answer**: b) It holds too much risk for the associates. - **Rationale**: Dr. Goodman notes that commission-only pay puts excessive risk on associates. 10. **Answer**: b) Open communication and mutual trust - **Rationale**: Trust and communication are emphasized as foundational to a successful working relationship. I hope this helps and adds value to your understanding of the podcast content!

📧 Podcast Thank You Email
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Subject: Thanks for Sharing Your Wisdom on FAKTR! Hey Dr. Lisa, I just wanted to drop you a quick note to say a huge THANK YOU for joining us on the FAKTR Podcast. The episode, "Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2," is now live and I'm already hearing great feedback from our listeners! Your insights on compensation models, building trust, and navigating the associate-owner relationship were incredibly valuable. It felt like you left no stone unturned, and I know a lot of people will find your advice super actionable. Now that the episode is out, it would be awesome if you could share it with your network or engage with the related content on social media. Your support goes a long way in helping us reach more people who can benefit from this conversation. Thanks again for being such a wonderful guest. Let’s catch up soon—perhaps the next time we have one of our infamous 'business management' chats! Take care, Jessica

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Sure thing! Here are 7 key themes that were discussed in the podcast episode: 1. Associate responsibilities and integrity. 2. Negotiating compensation effectively. 3. Owner-associate trust dynamics. 4. Strategies for handling exit plans. 5. Risk distribution in compensation models. 6. Building long-term beneficial relationships. 7. Communication and addressing challenges.

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**10 Tips Every Associate-Practice Owner Needs to Know** **1. Negotiate Early:** Negotiate compensation and terms before accepting a job to avoid future regrets. **2. Show Integrity:** Always deliver your best, even when no one's watching. Integrity is key. **3. Communicate Clearly:** If in doubt, ask. Always bring solutions, not just problems, to the table. **4. Be Loyal:** Support your practice's brand inside and outside the clinic to build trust. **5. Build Trust:** Cultivate trust from top to bottom for both internal and external success. **6. Structure Pay Fairly:** Base plus commission balances risk and reward for both parties. **7. Exude Leadership:** Associates should anticipate needs and offer solutions proactively. **8. Balance Risk:** Owners carry much of the risk, so understand your compensation in that context. **9. Value Each Other:** Show appreciation regularly through gifts, bonuses, or simple thank-yous. **10. Plan for Exit:** Discuss exit strategies early to ensure a smooth and supportive transition. **CTA:** Want more tips or insights? Listen to the full episode on the FAKTR Podcast!

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✅ Discover the secrets to a successful associate practice-owner relationship! ✅ Want to know how associates can truly shine and owners can foster growth? ✅ Join host Jessica Riddle and guest Dr. Lisa Goodman in Part 2 of the FAKTR Podcast. ✅ Practical strategies, negotiation tips, and the power of trust await. Tune in now! #FAKTRPodcast #ChiropracticCare #CareerGrowth

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**10 Tips Every Healthcare Provider Needs to Know** **1. Negotiate Early** Negotiate compensation and terms before accepting a job. It’s easier to define expectations initially. **2. Show Integrity** Always do what you promise, even when no one's watching. Integrity builds trust. **3. Communicate Clearly** If unsure about a task or facing an issue, ask questions and seek solutions for a clear understanding. **4. Be Loyal** Support your practice by promoting it among your network and showing commitment. **5. Foster Trust** Trust goes both ways and is crucial for effective patient and workplace relationships. **6. Embrace Mentorship** Learn from experienced colleagues to grow your skills and expertise in low-risk environments. **7. Provide Value** Associates should act as leaders and enjoy the autonomy to contribute positively to the practice. **8. Discuss Compensation** Understand different payment models like salary, commission, or base plus commission to set fair expectations. **9. Plan Exits** Communicate your future plans for smooth transitions and sustained professional support. **10. Embrace Abundance** Collaboration within the profession benefits everyone. Celebrate each other’s success for shared growth. 👉 Want to learn more? Visit [faktr-store.com](https://faktr-store.com) for courses and resources.

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Hey there, welcome back to the FAKTR podcast! Today, we're diving into part two of our business focus series with Dr. Lisa Goodman. We'll chat about building strong associate-practice owner relationships – the kind of stuff they didn't teach us in school but is super valuable. From compensation strategies to trust-building, you won't wanna miss this episode. So grab your coffee, get comfy, and let's get into it!

🎒 Session Worksheet
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Absolutely! Let's create a worksheet to help reinforce the topics discussed in the "FAKTR Podcast - Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2." This worksheet will focus on the key elements of building successful relationships between associates and practice owners, structuring compensation, and maintaining open communication. Below is an example of how the worksheet could look: --- ## Worksheet: Building Successful Associate-Practice Owner Relationships ### Part 1: Understanding Roles and Responsibilities **1. Define the following roles and discuss the key responsibilities associated with each:** - **Practice Owner Responsibilities:** - Expand through new services and expertise. - Offer mentorship. - Ensure financial growth and diversification. - **Associate Responsibilities:** - Negotiate compensation upfront. - Show up with integrity and accountability. - Be solution-oriented and communicate well. ### Part 2: Structuring Compensation **2. List and explain the three types of compensation models discussed in the podcast:** - **Salary:** - Risks and Benefits - **Commission:** - Risks and Benefits - **Base Plus Commission:** - Risks and Benefits **3. What is a retention bonus, and how can it benefit both the associate and the practice owner?** ### Part 3: Communication and Trust **4. Why is communication so important in an associate-practice owner relationship? Provide two examples of how poor communication can affect the practice.** **5. What strategies can be used to foster trust between an associate and a practice owner?** ### Part 4: Addressing Concerns and Growth **6. Discuss the importance of having an exit strategy for associates. Why should this be transparent and mutually agreed upon?** **7. How can practice owners identify when it's time to expand or allow an associate to take on more responsibility, possibly leading to ownership opportunities?** **8. What are some of the red flags for both practice owners and associates to watch for during the interview process?** ### Reflective Questions: **9. Reflect on a time when open communication and trust (or the lack thereof) played a significant role in the success or failure of a professional relationship. How could the lessons from this episode apply to that situation?** **10. As an associate or practice owner, what are your personal goals to ensure a prosperous and harmonious work environment?** --- This worksheet can help solidify the important concepts from the episode and encourage active reflection on how these principles can be applied in real-world scenarios.

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Subject: New Episode Alert: Nail the Associate-Practice Owner Relationship! 🎧 Hey there, FAKTR Fam! Ready to level up your practice game? Our latest podcast episode just dropped and it's packed with insights you won't want to miss. Whether you're dipping your toes into practice ownership or refining the dance with your current associate, this one's for you! In this episode, "Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2," Dr. Lisa Goodman shares her expert tips on taking your practice relationship to new heights. Here's what you'll learn: 1. **Compensation Structuring:** Discover practical ways to structure pay that keeps everyone happy! 2. **Negotiation Insights:** How to navigate those tricky salary talks like a pro. 3. **Building Trust:** Why trust is your best friend in any associate-owner relationship. 4. **Communication Strategies:** Learn how to keep the lines open and flowing smoothly. 5. **Loyalty and Professional Growth:** The secret sauce behind fostering loyalty and igniting growth. And here's a fun fact from the episode: Did you know Dr. Lisa Goodman reads each situation like a good book? She's all about diving into those "internal thresholds" that keep associates from reaching their potential. 📚✨ We wrap things up with an empowering note: building a successful practice relationship is not just a dream—it's doable with the right strategies and mindset. **Call to Action:** Got a horror story or a triumphant tale of associate-owner dynamics? We're all ears for our upcoming anonymous episode feature! Click through the show notes to share your story with us. Check out the episode now and let's keep the chiropractic convo going! Listen [here](#) and be sure to rate, review, and subscribe for more episodes of the FAKTR Podcast. Catch you on the airwaves! Jessica Riddle & the FAKTR Team

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✅ Unlock the Secrets to Thriving as a Health Care Provider! ✅ Discover practical strategies for successful associate-practice owner relationships with Dr. Lisa Goodman and host Jessica Riddle on the FAKTR Podcast. ✅ Dive into part two of our series and learn about compensation structuring, salary negotiations, and creating long-term partnerships. ✅ Don't miss out on actionable insights that can transform your career or practice! Listen now to build a career you love without burning out. #FAKTRPodcast #HealthCareSuccess #BusinessStrategies

Conversation Starters
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Here are some conversation starters you can use in a Facebook group to generate discussion about the episode "FAKTR Podcast - Strategies and Tactics for a Successful Associate-Practice Owner Relationship, Part 2": 1. "What are some practical strategies you've used to negotiate compensation or create mutual trust in associate-practice owner relationships? Let's share tips and success stories!" 2. "How do you approach addressing and negotiating responsibilities and expectations with a potential employer or associate in a chiropractic setting? Any lessons learned?" 3. "Dr. Goodman mentioned the importance of loyalty and integrity in the associate role. How do you cultivate these qualities in your practice, whether you're an associate or a practice owner?" 4. "Communication was highlighted as a key factor for successful partnerships in practice. How do you maintain open and effective communication in your professional relationships?" 5. "Let's talk about compensation models: salary, commission, base plus commission. Which model do you think works best in a chiropractic practice and why?" 6. "Have you ever dealt with the fear of associates taking away patients or referral relationships? How do you balance delegation and maintaining professional relationships?" 7. "What red flags do you look out for when considering hiring an associate or joining a practice? Share your experiences or advice." 8. "If you've ever undergone a preceptorship, how did it prepare you (or not) for future professional roles? Do you think it's a valuable experience?" 9. "Dr. Goodman talks about creating a long-term employee-employer agreement. What strategies do you have for fostering long-term, mutually beneficial relationships in a practice?" 10. "What are your thoughts on work-life balance in healthcare? How do you ensure your practice isn't running you into the ground while delivering top-notch patient care?" Feel free to adapt these to fit the vibe and interests of your particular group!

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**10 Tips Every Practice Owner & Associate Needs to Know** **1. Negotiate Effectively** Understand your value and negotiate compensation and terms before accepting a position. It sets the foundation. **2. Show Integrity** Do what you say you’ll do, even when no one's watching. Consistency builds trust and reputation. **3. Communicate Clearly** Always seek clarification if needed. Proactive communication prevents misunderstandings and fosters a healthy environment. **4. Embrace New Ideas** New associates bring fresh perspectives. Encourage and integrate them for growth and innovation. **5. Offer Fair Compensation** A balanced pay structure benefits everyone. Consider base plus commission for shared risk and reward. **6. Value Loyalty** Appreciate long-term commitment. Offer incentives like retention bonuses to reward dedication. **7. Trust the Process** Build trust from the top down. Mutual trust enhances patient care and practice reputation. **8. Plan Exits Transparently** Discuss future plans clearly. An open exit strategy benefits all parties and strengthens relationships. **9. Prioritize Mentorship** Owners should mentor, and associates should seek growth opportunities. This collaboration strengthens practices. **10. Foster Team Spirit** Cultivate a work-hard, play-hard environment. Balance dedication with downtime enhances overall well-being. **CTA: Share Your Thoughts!** Have a tip of your own? Comment below or tag a colleague who needs to read this. #PracticeGrowth

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Sure! Here's a 10-question quiz based on the provided transcript, complete with an answer key and rationale for each correct answer: --- **Quiz Questions:** 1. **What is one key topic discussed in this episode of the FAKTR Podcast?** a) Traditional chiropractic techniques b) The associate-practice owner relationship c) Patient dietary needs 2. **According to Dr. Lisa Goodman, when is the best time for an associate to negotiate their compensation?** a) After their first year b) Before accepting the job offer c) During the annual review 3. **What does Dr. Goodman emphasize about an associate’s responsibility to show up with integrity?** a) Only when the owner is present b) Only during the probationary period c) At all times, even when no one is looking 4. **In the context of patient care, what is one way Dr. Goodman suggests associates can take initiative?** a) By taking frequent breaks b) By bringing solutions to issues c) By creating new treatment plans without consulting the owner 5. **What strategy does Dr. Goodman suggest for rewarding long-term loyalty from associates?** a) Annual salary raises b) Retention bonuses c) Paid vacations 6. **Why does Dr. Goodman prefer a base plus commission structure for compensation?** a) It places all risk on the associate b) It shares the risk between owner and associate c) It places all risk on the owner 7. **According to the discussion, what should be included in the perfect associateship relationship?** a) High competition between associates b) A clear exit strategy c) Minimum patient interaction 8. **What is one approach Dr. Goodman recommends to handle associate underperformance?** a) Ending the associate’s contract immediately b) Increasing their working hours c) Reducing their working hours and adding another associate 9. **What is one red flag Dr. Goodman mentions when hiring an associate?** a) An associate with prior experience b) Lack of preparation and research about the practice c) Confidence in handling a large patient load 10. **Why might hiring an intern as an associate be challenging, according to Dr. Goodman?** a) Interns usually lack necessary skills b) Interns are often overqualified c) Interns might feel the grass is greener elsewhere after being trained --- **Answer Key and Rationale:** 1. **b) The associate-practice owner relationship** - *Rationale: This episode is focused on strategies and tactics for a successful associate-practice owner relationship.* 2. **b) Before accepting the job offer** - *Rationale: Dr. Goodman emphasizes the importance of negotiation prior to starting, as it may be difficult to renegotiate later.* 3. **c) At all times, even when no one is looking** - *Rationale: Integrity is about doing what’s right consistently, regardless of supervision.* 4. **b) By bringing solutions to issues** - *Rationale: Dr. Goodman encourages associates to be solution-oriented and proactive.* 5. **b) Retention bonuses** - *Rationale: She suggests using retention bonuses as a motivational tool instead of non-compete threats.* 6. **b) It shares the risk between owner and associate** - *Rationale: A base plus commission structure is presented as a balanced approach.* 7. **b) A clear exit strategy** - *Rationale: Clarity around exit strategies is highlighted as part of an ideal associateship relationship.* 8. **c) Reducing their working hours and adding another associate** - *Rationale: Adjusting hours and responsibilities can accommodate different work paces and maintain productivity.* 9. **b) Lack of preparation and research about the practice** - *Rationale: A red flag is when the potential hire hasn’t researched the practice, indicating a lack of genuine interest.* 10. **c) Interns might feel the grass is greener elsewhere after being trained** - *Rationale: Despite being trained well, interns may look for other opportunities, as they may feel curious about working elsewhere.* Feel free to use this quiz as a learning tool! If you have any other questions or need further elaboration, let me know.

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In part 2 of our series, Dr. Lisa Goodman shares insights on creating a successful associate-practice owner relationship. From compensation to trust and mentoring, this episode is packed with valuable tips for both associates and owners. Tune in now!

📧 Podcast Thank You Email
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Hey Dr. Lisa, I just wanted to drop you a quick note to say thanks again for coming on the FAKTR Podcast. Your insights on building successful associate-practice owner relationships were so valuable, and I'm sure our listeners are going to get a ton out of it. I'm excited to let you know that the episode is now live! If you have a moment, sharing the episode on your social media and engaging with our posts about it would be awesome. It really goes a long way in getting the word out and helping more people benefit from your expertise. Thanks again for being such a great guest – it's always a pleasure catching up with you! Take care, Jessica

Podcast two part halfway point
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To find a logical halfway stopping point for the episode, let's break the transcript into two parts. The ideal spot to end Part 1 is after Dr. Lisa Goodman mentions the benefits for associates, which can also serve as an insight for practice owners. Here's the sentence for Part 1 to end with: "Your malpractice should be paid. You should have health insurance offered to you. You should have a continuing education offered to you." Ending Part 1 after this sentence provides a natural break and covers the beginning of the conversation about benefits for associates. This point occurs near the middle of the transcript. For timing, it would be around 11:35 into the episode. Part 2 should then begin right after this point, around 11:36. By structuring it this way, listeners are left with valuable insights about associate benefits, making them eager to dive into Part 2 for deeper knowledge.

📓 Blog Post
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**Title: Building Strong Associate-Practice Owner Relationships: Strategies for Success** **Subheader: Navigating Compensation, Communication, and Collaboration in Chiropractic Practices** In the realm of chiropractic practice, the relationship between associates and practice owners is vital for the growth and success of both parties. It sets the tone for the work environment, impacts patient experiences, and influences the overall success of the practice. In the FAKTR Podcast, Dr. Lisa Goodman delves into essential strategies for optimizing this crucial relationship. Here, we explore some of these strategies, offering insights and actionable advice for building a successful associate-practice owner relationship. **Structured Compensation: A Foundation for Mutual Benefit** One of the primary aspects of a successful associate-practice owner relationship is structured, fair compensation. As Dr. Goodman emphasizes, associates should have a clear understanding of their compensation before starting the job. This includes negotiating terms such as base salary, commission, and benefits upfront, avoiding the need for constant renegotiation. Understanding the balance of risk and reward is essential. Practice owners assume significant financial and operational risks when hiring new associates. Conversely, associates benefit from the practice's existing reputation and resources. A well-structured base plus commission model can share these risks and rewards equitably, ensuring that both parties are motivated and compensated fairly. **Communication: The Cornerstone of Trust and Integrity** Clear and open communication is the backbone of any strong associate-practice owner relationship. Dr. Goodman highlights the importance of associates taking accountability and communicating their needs and concerns openly with practice owners. Whether it's seeking clarification on tasks or presenting solutions for operational challenges, associates must prioritize honest, direct communication. For practice owners, listening to associates' feedback and valuing their contributions is crucial. Encouraging an environment where associates feel heard and valued fosters trust. This trust extends beyond the practice walls, enhancing patient experiences and community relations. As both parties work in tandem, a shared vision for the practice becomes more achievable and enduring. **Mutual Loyalty and Long-term Vision** Building a long-term, mutually beneficial relationship demands loyalty from both sides. Associates should embrace the practice's mission and contribute to its growth by engaging in internal and external marketing initiatives. Meanwhile, practice owners should offer mentorship opportunities, providing associates with the knowledge and skills they need for professional growth. Establishing a long-term vision, such as a three-to-five-year plan, can help both parties set expectations and work towards common goals. Retention bonuses and clear exit strategies can further align interests, ensuring that associates and practice owners are committed to each other's success over time. **The Power of Collaboration and Leadership** A collaborative environment within the practice encourages shared responsibility and leadership. Dr. Goodman suggests empowering associates by giving them responsibilities aligned with their strengths and interests, such as leading social media efforts or engaging with the community. This empowerment not only enhances the practice's operations but also reinforces the associate's sense of purpose and professional fulfillment. In turn, associates can demonstrate their investment in the practice by anticipating needs, contributing to a positive workplace culture, and supporting the owner in various capacities. This reciprocal dynamic strengthens the practice's brand and facilitates a thriving, supportive environment where both parties can excel. **Embracing Change and Growth Opportunities** Finally, practice owners should remain receptive to change and new ideas introduced by associates. Embracing innovative approaches and diversifying services can enhance the practice's offerings and reputation. Whether it's adopting digital solutions, exploring new treatment modalities, or expanding the practice, change driven by collaborative efforts fosters growth and sustainability. As the landscape of chiropractic practice evolves, recognizing and leveraging the strengths of both associates and practice owners will be instrumental in building successful, resilient relationships. By focusing on structured compensation, open communication, mutual loyalty, collaborative leadership, and growth opportunity, associates and practice owners can thrive together, creating a positive impact on their patients and the wider community. By adopting these strategies, chiropractic practices can create a win-win environment where both associates and practice owners achieve their full potential, fostering a successful journey filled with growth and fulfillment.

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**Blog Post 1: Navigating Your Chiropractic Career Path: Practice Owner, Associate, or Independent Contractor** **Subheader**: Making an informed decision for your professional journey in healthcare. In the ever-evolving landscape of chiropractic healthcare services, professionals are faced with a pivotal career decision: to become a practice owner, join a practice as an associate, or work as an independent contractor. Each path offers its own unique advantages, challenges, and considerations. By understanding these intricacies, chiropractic professionals can make informed choices that align with their career goals and personal values. **Assessing the Options** Choosing a career path in chiropractic requires an understanding of the different roles available. As a practice owner, one has the opportunity for full operational control and potentially limitless financial gain. Yet, this comes with the responsibility of managing staff, overseeing operations, and navigating the complexities of business ownership. Conversely, an associate role provides a more structured environment with lesser administrative burdens but often involves less freedom in practice decisions and compensation arrangements. Independent contractors, on the other hand, enjoy the flexibility of managing their schedules and working environment while maintaining personal autonomy. However, this path demands self-discipline, strong marketing skills, and the ability to manage the administrative side of running a business independently. **Understanding Responsibilities** For prospective associates, understanding the responsibilities and expectations is crucial. Associates are tasked with negotiating their compensation prior to accepting a job, ensuring that they understand potential earnings based on base salaries, commissions, or a blend of both. It's imperative that associates communicate their needs clearly from the outset, as negotiation opportunities are far more limited after accepting a position. Integrity is another essential quality for associates, who must consistently deliver excellent patient care, maintain professionalism, and fulfill their job role even in the owner's absence. Communication skills are also vital, allowing associates to express concerns constructively and contribute positively to the practice's environment. **Negotiating Compensation** When it comes to negotiating compensation, associates should aim for transparency and specificity in their negotiations. They should understand what each element of their compensation package entails, from base pay to commission structures, and be proactive in asking for terms that align with their professional goals and financial needs. Engaging in a frank, open dialogue about pay expectations can prevent misunderstandings down the road. Owners and associates alike should treat negotiations as an opportunity to create actionable, performance-based plans that ensure mutual satisfaction. This approach not only fosters trust but sets the foundation for long-term partnership. **Looking Ahead** Decisions about career paths in chiropractic require careful thought. Each option presents unique opportunities for professional and personal growth, both of which should align with the individual's long-term vision. Whether aspiring to own a practice, thrive as an associate, or enjoy the independence of contracting, the key lies in understanding the landscape, setting clear expectations, and maintaining open communication channels. Ultimately, the healthcare field offers abundant opportunities for chiropractors to cultivate fulfilling careers that are both professionally and personally rewarding. By taking the time to evaluate the merits and responsibilities of each potential path, practitioners can ensure they make the most informed and strategic decision for their future. *Tune in for the next blog post in this series, where we’ll delve deeper into structuring compensation packages and strategies for maintaining healthy associate-owner relationships in a chiropractic practice.* --- **Blog Post 2: Structuring Compensation and Fostering Healthy Practice Relationships** **Subheader**: Creating win-win scenarios for associates and practice owners in chiropractic healthcare. Compensation structures and professional relationships hold pivotal roles in a chiropractic practice's success. When aligned effectively, these elements cultivate a positive work environment that benefits both associates and practice owners. A focus on transparency, open communication, and mutual understanding forms the cornerstone of long-term, fruitful collaboration between practitioners. **Creating Action Plans** To establish a robust framework for compensation, action plans should be designed to lay out clear goals and mechanisms for achieving them. Associates can express their compensation preferences while owners have the opportunity to clarify expectations and provide pathways for performance incentives. For instance, an action plan might detail how an associate can achieve desired salary increases through patient growth targets, clinical achievements, and consumer satisfaction metrics. Such strategic conversations turn compensation discussions into a collaborative effort, ensuring both parties work towards common objectives. By outlining actionable steps, associates and owners can monitor progress and reassess goals periodically to keep motivation and productivity high. **Communication as a Key Component** In fostering healthy practice owner-associate relationships, communication plays a vital role. Associates should feel empowered to seek clarification about tasks and ask questions about responsibilities. Owners can encourage this by promoting a culture where open dialogue is the norm and staff members actively contribute to the organization's growth. Addressing challenges head-on can prevent miscommunications from escalating. Associates expressing concerns should be encouraged to propose worthwhile solutions to potential issues, illustrating proactive engagement in practice improvement. **Compensation Structures** To ensure fair and motivational compensation structures, practices often explore varied options. Salaries provide security but may carry greater financial risk for owners. Conversely, commission-based models place risk on associates but potentially incentivize strong performance. A balanced approach, where base salaries are complemented by commission, can equitably distribute risk and reward. Providing benefits such as malpractice coverage, paid time off, and continuing education opportunities further enhances job satisfaction and morale. A retention bonus linked to the mutual achievement of goals serves as a tangible demonstration of trust and loyalty. **Building on Trust and Integrity** Trust is the bedrock of successful associate-owner relationships. Both associates and owners must uphold commitments and maintain integrity in all interactions. Owners should offer consistent support, mentorship, and appreciation to foster an atmosphere of mutual respect and teamwork. Associates contribute by embracing ownership over their tasks, offering innovative ideas, and demonstrating loyalty. A collaborative mindset and dedication to shared goals lead to professional growth for everyone involved. *In the next blog post, we'll explore strategies for managing transitions, discussing when and how associates might move on to new ventures, and how practice owners can facilitate these journeys positively.* --- **Blog Post 3: Transitioning in Chiropractic Practices: Managing Changes and Embracing Growth** **Subheader**: Navigating career shifts and expansions in chiropractic practice settings. Transitions can be transformative and growth-inducing in the realm of chiropractic practice. Whether an associate is contemplating a new venture or an owner is considering expanding the practice, managing these changes thoughtfully contributes to successful outcomes for individuals and practices alike. **Planning for Growth** For practice owners, bringing associates on board presents opportunities to expand services, diversify expertise, and increase revenue. Similarly, associates can benefit greatly from joining a reputable practice that provides mentorship, clinical experience, and career development. When an associate shows strong leadership potential and consistently meets or exceeds expectations, it might be time to discuss long-term opportunities. Offering an ownership stake or facilitating expansion into a new location are potential growth paths that can benefit both parties. **Preparing for Exits** Anticipating potential exits is a crucial part of managing practice dynamics. Associates may eventually choose to branch out and establish their own practice. Proactively planning for these transitions ensures continuity and minimizes operational disruptions. Creating a structured and supportive exit strategy, including critical timelines and necessary resources, enables associates to make informed decisions about future ventures. By offering assistance with logistics, branding tips, and marketing ideas, practice owners demonstrate commitment to the ongoing success of their former associates, reinforcing a culture of mutual support. **Managing External Relationships** In any exit scenario, owners and associates need to consider the impact on patient and professional networks. Transition plans can involve clear and transparent communication with patients about any changes, ensuring continued trust in the practice. Additionally, retaining strong relationships with professional referral networks is paramount, and these should be addressed collaboratively to maintain valuable connections. **Commitment to Mutual Success** Transitioning, in all its forms, offers an opportunity for reflection and growth. Associates considering their departure should maintain open communication with their practice to ensure a supportive exit and leverage the resources available to them. Owners, in turn, benefit from fostering environments that promote ongoing professional development and career progression. By embracing transitions positively, chiropractic practices can evolve, enhance their reputation, and contribute tangibly to the broader healthcare network. These strategic decisions help establish a legacy of excellence that both associates and owners can take pride in. *As the chiropractic field continues to evolve, fostering a culture of growth and adaptability is essential. Whether planning for transitions or managing day-to-day operations, practices can thrive when all parties are committed to shared success.*

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Title: Optimizing the Associate-Practice Owner Relationship: Strategies for Success Sub-header: Unlock the keys to a flourishing associate-practice owner dynamic in clinical practice. Understanding the Core Responsibilities of Associates In any healthcare setting, associates wield the vital responsibility of negotiating their compensation before accepting a job. Entering a work environment without clear expectations can challenge even the most seasoned professionals. New associates need to advocate for themselves effectively, ensuring their pay, hours, and additional responsibilities align with their career goals. It's crucial for associates to raise these concerns early since opportunities to renegotiate may not arise for another year, potentially setting off unforeseen issues. Maintaining integrity is also paramount. Regardless of the practice owner's presence, associates should uphold the highest ethical standards and consistently provide top-quality care. Likewise, associates need to communicate effectively. If uncertainties or concerns arise, dispelling confusion with proactive solutions becomes an associate's responsibility. Whether it involves a minor repair or significant patient concerns, open communication ensures the support of a healthy working atmosphere, facilitating mutual trust in the professional environment. Fostering Trust and Loyalty Within the Practice Trust is a cornerstone of productivity and patient satisfaction. Establishing a strong foundation of trust between owners and associates ultimately bolsters community trust in the practice. When associates demonstrate loyalty—be it through sharing content on social media or communicating with colleagues—the sense of ownership felt within the practice translates to creating an excellent service reputation. Communication that fosters trust includes both top-down and bottom-up exchanges. Repeatedly, health practitioners have acknowledged the days when conversations were conducted in silos—leading to unexpected complications. Instead, direct communication, along with seeking external guidance, can lead to constructive solutions that ultimately enhance practice operations. Opportunities for Growth: Owners and Associates The realm of opportunity extends to both practice owners and associates alike. Owners stand to diversify their range of services, gain valuable insights and perspectives from fresh talent, and embark on personal projects while trusting the daily workflow to their competent associates. Conversely, associates immerse themselves in reduced stress environments while benefiting from the knowledge and experience of seasoned mentors. By seeking low-risk work settings, associates can accrue priceless clinical experience and receive incentives such as paid time off, health insurance, and continuing education opportunities, all of which bolster career progression. Establishing Financial Structures: Navigating Salaries and Commissions Effective financial frameworks can mitigate potential conflict within the practice. While offering a fixed salary subjects owners to substantial risk, a commission-based structure places more financial uncertainty on associates. Instead, a hybrid model of base-plus-commission emerges as the optimal balance. This structure shares the financial responsibility between owner and associate, rewarding high productivity while establishing financial stability for both parties. Setting realistic expectations—especially for new associates unfamiliar with post-school earnings—creates a framework for income growth over time. Keeping the focus on developing experience while initially accepting moderate salaries fosters a promising path to higher future earnings. Crafting the Ideal Associate-Owner Dynamic A successful practice thrives in a mutually beneficial environment rooted in trust. A three- to five-year term often serves as the optimal duration for associates to grow and flourish under an owner's mentorship. Establishing competitive pay structures, transparent expectations, and clear communication ensures a positive relationship. By integrating retention bonuses and exit strategies, everyone involved gains clarity in their roles, contributing to the practice's overall success. Ultimately, what's beneficial for chiropractic is beneficial for the community. Encouraging an abundant, competitive-free atmosphere directly contributes to abundant growth and more diverse service offerings. Building a practice that values cooperation and mentorship within an associate-owner relationship only elevates the profession as a whole. By recognizing and valuing these fundamentals, clinics can extend their reach, serving patients even more effectively than before.

🔑 Key Themes
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Here are seven key themes discussed in the episode: 1. Associate-practice owner contracts 2. Compensation negotiation strategies 3. Importance of communication skills 4. Building trust and integrity 5. Associates showing investment and loyalty 6. Mentorship and leadership opportunities 7. Handling competition and teamwork dynamics

🔑 Key Themes
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Sure! Here are 7 key themes discussed in the episode: 1. Structuring Compensation and Negotiations 2. Responsibilities of Associates 3. Trust and Integrity in Practice 4. Benefits of Associate Relationships 5. Handling Exit Strategies 6. Employer Value Demonstration 7. Effective Communication and Solutions

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[Music playing softly in the background] Jessica Riddle: Welcome back to the FAKTR podcast, the place where we dive deep into the realities that weren't covered in your textbooks. Whether you've got your diploma in hand and ready to make your mark, or you're looking to elevate your existing practice, we're right here with you tackling the tricky aspects of healthcare. From delivering paramount patient care to navigating the business side of things, our aim is simple: help you thrive without losing your sanity. Jessica Riddle: Hi, everyone, I'm your host, Jessica Riddle, and we're back with the dynamic Part Two of our business series spotlighting the associate-practice owner relationship. Joined again by Dr. Lisa Goodman, we’ll explore nitty-gritty strategies that can ensure both parties in this relationship flourish. You're about to hear insights into crafting compensation structures, handling those edgy salary talks, and fostering sustainable partnerships that propel growth. Whether you’re on the hiring end or looking at signing your first contract, this episode is chock-full of actionable gems you can start applying today. Let's get into it! Dr. Lisa Goodman: Sometimes the small things make the biggest difference. That includes negotiating your compensation up front. It's all too easy to get swept up in the excitement of a job offer, especially early in your career. Just remember, the time to voice your needs is before you sign on the dotted line. Approach it as a collaborative effort. Ask about a base salary tweak or that extra week of vacation your family so deeply cherishes. Trust me, open dialogues lead to solid action plans. Jessica Riddle: And there’s the ongoing dynamic of giving your all at work. Integrity isn’t just doing your job when your boss is watching, but also when they’re not. It’s about treating every patient, engaging with every task, as though it carries weight beyond the obvious. Dr. Lisa Goodman: Communication is crucial as well. Whether you’re figuring out a task, resolving an issue, or analyzing feedback, always aim to approach matters by offering solutions. Remember, owners are juggling so much already, maybe more than you know, so meet them halfway. Jessica Riddle: Our discussion delves into compensation models, but it's certainly not all numbers and percentages. We include conversations around loyalty, trust, and growth, all which play vital roles in an associate-owner dynamic. And being on either side of this equation requires clear communication, teamwork, and shared goals. Dr. Lisa Goodman: Our value isn’t just encoded in a paycheck or title. It emerges from our interactions, the joy in daily accomplishments, the satisfaction of shared achievements, and the trust that runs throughout the practice. Jessica Riddle: That’s a wrap for Part Two discussing the lucrative associate-practice owner relationship. Our goal is for you to come away with insightful tactics that lift your career trajectory or your team’s ethos. Stay tuned, and always strive for alignment in professional relationships—because what’s good for chiropractic is good for everyone involved. [Music fades out softly]

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Check out our latest episode of the FAKTR Podcast featuring Dr. Lisa Goodman! We dive into creating successful associate-practice owner relationships, covering everything from compensation structures to building trust. Perfect for anyone in chiropractic care!

Objectives and Take Aways
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Title: Building Successful Associate-Practice Owner Relationships in Healthcare Introduction: In this enlightening webinar, Dr. Lisa Goodman delves into the intricate dynamics of fostering effective associate-practice owner relationships within healthcare settings, particularly in chiropractic practices. She offers actionable strategies and foundational principles designed to optimize business operations, enhance professional relationships, and ultimately improve clinical outcomes in a way that benefits both providers and patients. Objective: The focus of this session is to equip healthcare providers with the necessary tools, insights, and mindset to cultivate mutually beneficial relationships between associates and practice owners. Through this session, attendees will: 1. Think Differently: - Understand the critical nature of trust and communication between associates and practice owners. - Recognize the importance of creating clear and fair expectations from the outset to avoid future conflicts. - Embrace the concept of structuring compensation in a way that aligns with both personal and practice goals. 2. Feel Differently: - Gain confidence in negotiating compensation and defining roles within a practice. - Feel empowered by understanding the shared responsibilities and benefits in practice dynamics. - Enhance satisfaction by acknowledging the value of loyalty and commitment in professional settings. 3. Do Differently: - Implement strategies for effective salary negotiations and compensation structuring. - Develop action plans that include engaging communication and accountability for both associates and owners. - Establish and maintain a productive, ethical work environment focused on patient care and professional integrity. - Utilize mentorship opportunities for growth and leadership enhancement in clinical practices. - Create an exit strategy that aligns with long-term career goals and practice needs, ensuring a positive transition for both parties. Killer Call to Action: It's time to optimize your practice relationships and create a thriving healthcare environment. Embrace the insightful techniques shared by Dr. Lisa Goodman and take the necessary steps to enhance your career or expand your team effectively. Start by assessing your current practice dynamics, initiate open communication channels, and establish clear, actionable goals for growth and excellence in your field. Your professional journey can significantly benefit from strategic alignment and collaboration—take action today to build a fulfilling and prosperous career in healthcare. The path to a rewarding professional life begins with informed action. Let's ensure your practice thrives through successful associate-practice owner relationships.

Quotes and Soundbites
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Certainly! Here are some compelling quotes from Dr. Lisa Goodman and Jessica Riddle's discussion that could be impactful on social media or in follow-up materials: 1. "Associates have a responsibility to negotiate their compensation prior to accepting the job... If you sign the job description and you love the practice, show up every single day doing your absolute best work with integrity." - This quote can be paired with an image showing a handshake or a pen and contract, symbolizing the agreement process. 2. "Trust your owner. And, again, if you don't feel that you're in a situation where you feel trust with your owner, reach out to me." - This quote can be combined with an image of two people working together with a sense of camaraderie or trust. 3. "Hiring an associate is always going to be a cool teacher-student type of relationship where everybody can learn from each other." - This quote can be combined with an image showing a mentor and mentee working together, highlighting the supportive dynamic. 4. "As owners, a lot of times, we don't feel we are giving all the time, but we love to feel people giving back to us." - This quote can be paired with an image of a reciprocating gesture, like hands passing a baton or exchanging a gift. 5. "What's good for chiropractic is good for chiropractic. I would want anyone who opens a practice across the street for me to be successful." - This quote can be paired with an image of two neighboring chiropractic clinics or practitioners, emphasizing community support. Remember to match the visuals with the tone and message of the quotes to create cohesive and impactful content.

Pain Points and Challenges
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Title: Navigating Challenges in the Associate-Practice Owner Relationship: A Guide for Success Introduction: The healthcare field offers myriad opportunities, particularly for practitioners considering the roles of practice owners or associates. However, establishing a harmonious associate-practice owner relationship brings its own set of challenges. In this podcast episode, experienced practitioner Dr. Lisa Goodman shared insights and strategies to tackle these challenges effectively. Whether you're looking to hire your first associate or negotiating your contract as an associate, this guide provides practical tools and advice tailored to fit healthcare providers’ and patients’ needs. 1. Effective Compensation Negotiations: Negotiating compensation can be an intimidating process, especially for new associates. To address this challenge: - Approach salary negotiations head-on before accepting any job offer; timing is crucial in voicing what you want. - Propose a clear action plan acknowledging potential earnings growth and revisit compensation plans periodically. - Practice open communication to establish a proactive compensation negotiation strategy. 2. Building Integrity and Trust: Having a trustworthy relationship is foundational to a thriving practice. To enhance this relationship: - Associates should consistently act with integrity, doing what’s expected even when unsupervised. - Both parties must foster open communication. Associates are encouraged to ask questions and suggest solutions, while owners should provide attentive listening and proactive support. - Establishing a trustworthy environment enhances connection with patients and the community. 3. Structuring Attractive Compensation Models: Different compensation models present varying levels of risk and reward. Consider the following: - Balance risk-sharing with a base-plus-commission model, providing associates with foundational security and incentivizing productivity. - Offer retention bonuses as a recognition of loyalty and a substitute for stressful non-compete agreements. - Encourage clear exit strategies, facilitating supportive transitions and opportunities for future collaboration. 4. Mutual Respect and Valuation: Both associates and practice owners need validation. Consider these strategies: - Owners should convey value through competitive pay, bonuses, and leadership opportunities. - Associates can demonstrate their investment through loyalty, accountability, and contributing new ideas for practice growth. - Uphold a positive and respectful culture that resonates through patient interactions and community reputation. Conclusion: Navigating the associate-practice owner relationship may be complex, but establishing mutual respect, trust, and open communication can lead to successful partnerships. By negotiating fair compensation, creating a supportive environment, and continuously contributing toward the practice's growth, both parties can build fulfilling and rewarding careers, ensuring the practice's prosperity and patient satisfaction. Remember, these strategies require dedication and patience, but they hold the promise of nurturing a thriving practice. Here's to successful collaborations ahead!

📖 Host Read Intro
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Hey there, welcome back to the FAKTR Podcast! In this episode, we're diving into part two of our deep dive into the associate-practice owner relationship with Dr. Lisa Goodman. We're talking all about practical strategies for structuring compensation, salary negotiations, and creating long term partnerships that truly benefit both sides. Whether you’re hiring your first associate or looking to negotiate your first contract, this chat is packed with actionable insights. Let's jump right in!

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**Email 1:** - **Subject:** Unlock the Secrets to a Thriving Chiropractic Practice - **Pre-header:** Dive into strategies that weren't covered in school. - **Email:** Hey there! Are you ready to tackle the real-world challenges of running a chiropractic practice? Tune in to the FAKTR Podcast for insights on growing your practice, refining clinical skills, and achieving better patient results. Whether you're just starting or scaling up, we have actionable tips just for you. - **CTA:** Check it out and start building the practice of your dreams today! **Email 2:** - **Subject:** Building Strong Associate-Owner Relationships - **Pre-header:** Tips for successful chiropractic collaborations. - **Email:** Hello again! Struggling to navigate the associate-practice owner dynamics? Our latest episode features Dr. Lisa Goodman's expert advice on structuring compensation, negotiating salaries, and creating long-term partnerships in the chiropractic world. Perfect for both new associates and seasoned practice owners. - **CTA:** Listen now and strengthen your practice relationships! **Email 3:** - **Subject:** Uncover Chiropractic Business Strategies - **Pre-header:** Learn how to optimize your practice for success. - **Email:** Hi! Want to know how to work smarter, not harder in your chiropractic career? In the FAKTR Podcast, we explore business strategies, mindset shifts, and cutting-edge treatments that are crucial to thriving as a chiropractor. Don't miss out on building a career without the burnout. - **CTA:** Discover our strategies and transform your chiropractic journey today!

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✔️ Ready to transform your associate-practice owner relationships? 🏥✨ ✔️ Dive into the latest episode of the FAKTR Podcast featuring the insightful Dr. Lisa Goodman. ✔️ Join host Jessica Riddle as they unravel practical strategies for long-term success in the chiropractic world. ✔️ Discover actionable insights on compensation, negotiations, trust-building, and creating a thriving practice! 💡🎧 Don't miss out on this golden opportunity to elevate your career or your team. Listen now! 🎙️🔥 #FAKTRPodcast #ChiropracticSuccess #PracticeGrowth

FAKTR Podcast Intro
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Are you considering the leap into practice ownership or simply want to maximize your success as an associate? Understanding the dynamics of the associate-practice owner relationship can be a game-changer for your career. In today's episode of the FAKTR Podcast, we're diving into these crucial dynamics with Dr. Lisa Goodman. We'll uncover practical strategies for structuring compensation and navigating salary negotiations, delve into how to cultivate long-term partnerships that benefit both the provider and the practice, and discuss the vital role of communication and integrity in enhancing your professional journey. Join us as Dr. Goodman shares actionable insights and her wealth of experience, ensuring you're equipped to tackle the complexities of the associate-practice owner relationship. Whether you're negotiating your first contract or hiring your first associate, this episode is packed with the expertise you need. Let's get started!

Key Themes in Part 2
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In Part 2 of this 2-episode series, we'll cover: - Strategies for negotiating compensation and structuring associate contracts - Key responsibilities and expectations for associates and practice owners - Effective communication and relationship-building between associates and owners - Benefits of trust and integrity in maintaining a successful practice dynamic Tune in to this episode to learn practical tips for building a thriving practice relationship.

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To effectively transform the webinar described in the transcript into an engaging ebook, we'll follow a structured approach. The goal is to distill the webinar's content into a coherent, informative format that healthcare providers can easily understand and apply. Here's how you can go about it: **Step 1: Extraction Process** 1. **Highlight Core Elements:** - Pull out impactful quotes from Dr. Lisa Goodman and Jessica Riddle that focus on associate-practice owner relationships. - Note essential statistics or examples discussed during the webinar. - Highlight major pain points addressed, such as compensation negotiation and building trust within a practice. 2. **Take Notes on Audience Interaction:** - Identify key questions and answers during the Q&A session that capture audience concerns and perspectives. - If any polls were conducted, include a summary of the results to provide context. **Step 2: Ebook Content Structure** 1. **Title Page** Recommend 5 Title Options: - "Building Lasting Relationships in Healthcare Practices: Insights and Action Steps" - "Effective Associate-Practice Owner Dynamics: Strategies for Success" - "Thriving in Practice: Essential Strategies for Associates and Owners" - "The Guide to Successful Healthcare Partnerships: Practices That Work" - "Unlocking Success: Navigating Associate and Practice Owner Relationships" 2. **Table of Contents** - Introduction - Key Themes - Insights - Take-Away Messages - Action Items - Conclusion 3. **Introduction** - Purpose: Present the relevance of establishing strong associate-practice owner relationships and why this partnership is crucial for a thriving practice. - Summary: Readers will gain a comprehensive understanding of effective communication, trust-building, and negotiation strategies essential for successful relationships between associates and practice owners. 4. **Key Themes** - Summarize the main topics in the webinar. - **Negotiating Compensation:** Practical strategies for associates before accepting job offers. - **Building Trust and Integrity:** Importance of mutual respect and accountability. - **Effective Communication:** Key to resolving conflicts and building lasting relationships. - **Loyalty and Retention Strategies:** Methods to foster long-term partnerships in practice. - **Risk vs. Reward:** Understanding the financial dynamics between associates and practice owners. 5. **Insights** - Include detailed insights shared by Dr. Goodman. - Example: Dr. Goodman emphasizes negotiating benefits versus legal threats to build long-term trusted relationships. - Insight on the importance of transparency in letting associates take leadership roles. 6. **Take-Away Messages** - Provide concise, actionable takeaways. - Negotiate your value before starting a position. - Demonstrate integrity and take accountability for actions. - Align with practice values to build loyalty and trust. - Utilize open communication to suggest improvements. - Consider associates' profitable growth for long-term success. 7. **Action Items** - Present steps in a checklist or bullet format. - Review current compensation negotiation tactics. - Schedule regular staff meetings to discuss roles and responsibilities. - Incorporate feedback loops to reinforce trust and value among team members. - Identify opportunities for associates to assume leadership roles. 8. **Conclusion** - Reinforce key insights and their importance. - Motivate readers to implement these findings for sustainable growth in their practices. - Add a call-to-action to engage with future webinars or additional resources offered by the FAKTR Podcast. **Step 3: Formatting** - Ensure logical flow and professional tone throughout the ebook. - Maintain clarity and organization, ensuring healthcare professionals can easily digest and apply the content. **Optional Enhancements:** - Include brief speaker bios for Dr. Goodman and Jessica Riddle. - Plan for future visuals or infographics to summarize key data points effectively.

🖍️ Step-by-Step Guide
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Building successful associate-practice owner relationships may seem daunting, but keeping a focus on mutual respect and communication can make a world of difference. At FAKTR, we believe that thriving relationships are built on a few foundational principles. Here are 10 ways to foster a successful associate-practice owner relationship: 1. Emphasize Clear Communication ↳ Encourage open dialogue ↳ Discuss expectations from the start 2. Set Transparent Compensation Models ↳ Structure fair pay based on performance ↳ Offer retention bonuses rather than restrictive agreements 3. Encourage Professional Growth ↳ Provide mentorship opportunities ↳ Offer support for continuing education 4. Build Trust and Integrity ↳ Cultivate a culture of transparency ↳ Be reliable, even when not being supervised 5. Empower Autonomy ↳ Delegate decision-making authority ↳ Allow associates to take initiative and lead 6. Establish Clear Expectations ↳ Hold regular check-ins ↳ Provide constructive feedback 7. Celebrate Achievements ↳ Acknowledge efforts and successes ↳ Reward associates with bonuses or gifts 8. Plan Exit Strategies Together ↳ Discuss long-term goals ↳ Create a mutually beneficial transition plan 9. Nurture Loyalty and Investment ↳ Encourage associates to contribute ideas ↳ Support their engagement with the practice 10. Practice Empathy ↳ Understand personal and professional challenges ↳ Provide support in stressful times Success in practice ownership isn't just about numbers. It's about building relationships that uplift everyone involved. Ready to strengthen your team and create an exceptional workplace? Practice these principles today. Do you have any strategies to add to this list? Share your thoughts! ♻️ If this resonates with you, spread the word! Remember: Happy associates lead to thriving practices.

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Title Page Title: Building Successful Associate-Practice Owner Relationships in Healthcare Subtitle: Strategies and Tactics for Navigating Professional Collaborations Author: Dr. Lisa Goodman and Jessica Riddle Date: April 2023 Table of Contents 1. Introduction 2. Key Themes - Associate Responsibilities - Practice Owner Opportunities - Compensation Structures - Trust and Communication - Professional Growth and Development 3. Insights 4. Takeaways 5. Action Items 6. Conclusion Introduction The FAKTR podcast delves into the intricate dynamics of the associate-practice owner relationship within healthcare, emphasizing the challenges and triumphs of building effective professional partnerships. This webinar provides both emerging and established healthcare professionals with invaluable strategies to foster success in their career paths and practices. Key Themes Associate Responsibilities - Understanding job descriptions and roles - Negotiating compensation proactively - Maintaining professional integrity and open communication - Demonstrating leadership and accountability Practice Owner Opportunities - Expanding service offerings and practice growth - Mentorship and nurturing new talent - Emphasizing trust from practice to community Compensation Structures - Understanding various models like salary, commission, base plus commission - Weighing risk and reward - Balancing financial stability and compensation fairness Trust and Communication - Building trust from the ground up - Establishing clear lines of communication - Handling potential conflicts with professionalism Professional Growth and Development - Identifying opportunities for career progression - Navigating decision-making around practice expansion and ownership - Understanding the benefits of mentorship and continued learning Insights - Associates should actively engage in negotiation discussions prior to accepting roles. - Owners should consider retention bonuses to encourage long-term commitments. - Effective associate-practice collaborations are underpinned by trust, respect, and open dialogue. - It is crucial for associates to show their investment in the practice and align with its mission and values. - Offering clarity on exit strategies can lead to mutually beneficial outcomes when relationships shift or evolve. Takeaways - Negotiate compensation and responsibilities upfront. - Cultivate trust and maintain integrity in all work processes. - Be proactive in addressing issues with solutions, not just problems. - Regularly show appreciation and recognition, regardless of your role. - Embrace mentorship opportunities to enhance professional development. Action Items - Review and discuss job descriptions with your associate or employer. - Create an action plan for your compensation goals. - Develop performance check-ins to maintain communication on progress and expectations. - Engage in collaborative initiatives such as team-building activities or joint projects. - Draft and discuss an exit strategy plan early on to facilitate smooth transitions. Conclusion Building and sustaining a successful associate-practice owner relationship requires dedication, mutual respect, and clear communication. By leveraging the insights and strategies shared in this webinar, both associates and practice owners can thrive in their professional paths and positively impact their healthcare communities. This content underscores the importance of collaboration and continuous professional growth for enduring success.

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I'm sorry I couldn't find any information related to Dr. Silverman in the transcript you provided. Would you like me to pick the most impactful lessons shared by Dr. Goodman instead? Let me know how you'd like to proceed!

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Welcome back to the FAKTR Podcast, where we help you navigate the intricate world of healthcare practice management. Today, we're wrapping up our engaging series with Dr. Lisa Goodman on the associate-practice owner relationship. This episode is all about diving into the practical strategies and insights from our past discussions, translating them into actionable steps you can take to strengthen and grow your practice. To kick off our wrap-up, let's revisit one of the most critical aspects Dr. Goodman covered – the importance of clear communication and trust in the associate-practice owner dynamic. This isn't just about having regular check-ins or routine meetings. It’s about fostering an environment where both associates and practice owners feel comfortable and encouraged to have open, honest discussions. Why is this important? Well, according to a study by the Society for Human Resource Management, 85% of employees said that open communication was a critical factor in their job satisfaction. So, think of this as a foundational pillar that not only binds the team but also impacts patient care and practice growth. Next, let's talk compensation strategies. Dr. Goodman highlights three distinct approaches: salary, commission, and a hybrid of base plus commission. Each has its advantages and caveats. As a practice owner, consider what's sustainable for your business while incentivizing your associate's productivity. Remember, competitive compensation is more than just a paycheck; it’s a tool to attract and retain top talent. On the flip side, if you're an associate, understanding these models and negotiating what's best for you is vital. This step can help set financial expectations clear from the outset, reducing future misunderstandings. Dr. Goodman also introduced the concept of a retention bonus instead of non-compete clauses, which I found particularly insightful. This approach not only shows appreciation but also fosters long-term loyalty. For context, Gallup data indicates that organizations with high employee engagement see a 21% increase in profitability. Retention bonuses could be a key strategy to ensure your top health care professionals stay strong contributors to your practice's success for the long term. A proactive approach to role delegation and leadership development is another key takeaway. Dr. Goodman emphasized encouraging associates to take on responsibilities, suggesting it helps them feel valued and nurtures their growth. As a practice owner, delegating not only tasks but also leadership roles could reduce burnout and distribute the workload effectively. Finally, when considering the future, plan for exits just as thoroughly as you plan for entries. Having a clear and open discussion about career goals with your associates allows both parties to anticipate changes and ensure a smooth transition, minimizing disruption to your practice. And remember – healthy transitions can enhance your reputation as an employer. I'll leave you with this thought: every practice is unique, and adopting these strategies could greatly impact the dynamics, performance, and satisfaction within your team, translating directly into improved patient outcomes and business success. Armed with these insights, you can now return to your practice ready to build stronger, more effective teams. Thank you for joining us again on the FAKTR Podcast. Stay tuned for future episodes filled with more valuable insights and actionable tips. Want to explore more strategies or have questions from this series? Reach out to us! For now, remember to hit subscribe and share this episode with your colleagues who could benefit from these insights. Until next time, work smarter, not harder. Do let us know your thoughts, experiences, or any questions you have from this episode in the comments or through our social channels. We love hearing from our listeners!

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