Although chiropractors are generally hardworking professionals, they often have no idea what it takes to build a profitable practice. Technique, expertise, and talent are not enough!
Here is something you’ve all heard before. “Get your degree, drive down the road until you run out of gas, throw up a shingle, and watch the new patients flood in.” Any chiropractor practicing today knows this is bogus!
So, how DO you build a profitable practice?
Many successful entrepreneurs will tell you their success stemmed from some form of coaching or consulting. What? You’ve never seen yourself as an entrepreneur? Well face reality doctor, because you are one!
It’s up to YOU to build a business around your definition of chiropractic. Unlike medical doctors, you don’t get to join the local hospital in order to draw a paycheck. Your time, energy, and entrepreneurial spirit are what pay the bills.
Some doctors believe that success requires establishing good rapport and a positive reputation within their community. However, while those things are essential, they aren’t the true foundation of a successful business model. Those doctors could avoid many mistakes, pitfalls, and loss of money simply by following the guidance of a experienced coach.
For the graduating chiropractor, so many variables come into play. You need to understand your market and potential patients. You can do this by performing a thorough demographic analysis which will help you identify your target market and determine how many chiropractors are currently practicing in that market. The physical location of your chiropractic office is also very important. And consider this: what do you need to know before you sign a lease? What about leasehold improvements? Do you know how to negotiate with a landlord for optimal financial benefits? We haven’t even mentioned figuring out which type of marketing is best for the community you’ve chosen!
Although it is a hard to make any accurate comparison between chiropractic and athletes, sports coaching might serve as a good example. Even athletes who have reached a high level of success and expertise hire coaches to supervise their training. This is because they don’t want to forget or miss certain details that will hurt their performance in the long run. The ability to control and keep track of their nutritional requirements, vitamin supplements, staying motivated, and knowing how to handle injuries, is often too much for even the most disciplined athlete.
Pushing one’s self hard enough to reach peak performance is extremely challenging. The principles of this illustration are true regardless of your occupation; and, they apply equally to chiropractors! What better way to reach your full potential than by working with a coach who understands how to run a successful practice or multiple practices?
By working with an experienced coach, you can avoid many headaches and common mistakes. A coach who understands finance, marketing, and business management, will benefit you greatly in the long run. This will allow you to focus on your practice and on refining your chiropractic skills.
To learn more about AMC and hear from chiropractors who are currently using our system, click here.