This week, I will tear apart Chiropractic… giving you the top 4 reasons why Chiropractors fail.
The reasons are so obvious to me and hard to witness.
I hate seeing Chiropractors fail.
It impacts their family, their health, and their happiness.
And Chiropractors fail unnecessarily.
And the reasons have nothing to do with what Chiropractic is or isn’t.
And nothing to do with technique… or philosophy.
And absolutely nothing to do with how long a D.C. has been in practice or even how clinically competent they are.
AND…nothing to do with how good looking or charismatic they are either.
So here is the first reason…
They think and act like Chiropractor,
a technician, an employee….
and Not like an Entrepreneur or Business Owner
Chiropractors sell Chiropractic.
Chiropractors are afraid to market.
Chiropractors are cheap, scared, and full of excuses..
Chiropractors don’t think accurately about business.
Here’s a perfect example of a typical “chiropractor”…
Collects $8,000 – $12,000 a month with 40-60% overhead.
Basically, they SPEND $4,000-$8,000 +/- a month to COLLECT $8-$12K.
But they are not willing to spend $15,000K a month to collect $30,000.
..or SPENDING $50,000.00 a month to COLLECT $100,000.00 a month.
They can’t fathom having overhead that high.
Listen, whatever amount you want to collect per month, you must be willing to spend at least 50% of that a month. At least.
Now of course, you most likely aren’t able to immediately spend at least half of what you WANT to collect…but you MUST slowly and appropriately RATCHET up to that.
If not, you are not going to grow.
You can spend money and/or time to grow a practice but the problem with spending time, is that you only have so much of it. You will soon reach a point where you have no more time to spend.
THE GOAL is to spend more money than time.
And even that takes time.
Don’t be discouraged. This is reality. This is the way business works.
Now you might not be wired to be and think this way but YOU decided to own a business.
You could have just worked for someone else and just be a Chiropractor.
But since you made the decision to also be an entrepreneur—a business OWNER— you must think and act like one.
There is plenty of money out there.
And in Chiropractic, there are a lot of terribly stupid and wrong ways to make it.
Ways that aren’t scalable and won’t last.
Ways that may make you look and feel successful for a few months or even a few years, but over time, the marketplace figures you out.
You must be MARKET driven.
NOT product driven.
You MUST give people what THEY want.
On their terms.
What they want.
How they want it.
When they want it.
What you and I agree or disagree about is meaningless.
What you want them to have is meaningless.
What you know that they don’t is meaningless.
The marketplace doesn’t care about you or me.
It knows what it wants and buys what it wants.
What IT needs is irrelevant.
Especially as it relates to Chiropractic.
So don’t make the mistake of comparing Chiropractic to other more accepted industries like dentistry, cardiology, or even physical therapy.
You can do very well in Chiropractic.
IF YOU THINK ACCURATELY.
And that’s the topic of tomorrow’s “Time To Think” email.
From this day forward, if you own your own practice, start thinking like a business person.
One with integrity.
One who is willing to provide value and not by adding services just because “their insurance will pay for it.”
Your practice can and should be simple, fun, and profitable.
Not complicated.
Not stressful.
