Be ALL IN on your Journey
Raise your hand if you are planning to open your own practice and have a part time job to pay the bills until your practice becomes profitable? I hear this strategy quite often from new graduates who are afraid that it will take too long to turn a profit in private practice. This is most definitely a fear based mindset. When you operate from fear, you will likely block your path to success.
Want My advice? Don’t Do It.
I know it may seem tempting to have a second job to pay your bills after graduation, but one piece of advice I give all new graduates is: don’t. If you are opening your own practice, you will be paid based on production (ie. how many patients you see). In other words, you will be paid based on the effort you are putting into the practice and your patients. If your desire is to grow your practice quickly, you must be ALL IN. Conversely, if you know that driving a ride share car for a few hours will compensate you enough to make pay your utility bill, you may choose to hop in your car. The consequence of this is that becomes the easy short-term solution to making money. I would argue that you should be putting your efforts into how to recruit one more new patient instead. If you are ALL IN on your practice, you will spend your time developing strategies for patient retention, creating meaningful growth in your practice rather than driving for a few bucks. Yes, it can be scary. But if you can’t trust yourself to succeed, who can you trust?
Are you committed to success?
You don’t have to have experience, a business degree to open and grow a successful practice. There is really only one thing you need – commitment to succeed. Which, if we break that down, means passion, knowledge, dedication, desire, heart and WORK. I believe that all business owners start out as dreamers who are excited, passionate and willing to put in the work. But what about 3 months, 6 months or 12 months in. Are you still willing to work late and work weekends? Are you willing to put in more than 40 hours per week on your business? Truly ask yourself if you are capable of putting in the hard work. In addition, ask your spouse or partner if they are willing to offer the moral support and encouragement it will take for you to commit 100% to building your practice.
Hard Work is FUN
Hard work does not mean no fun! Hang on just one second, I am asking you to make a commitment to work hard, but that doesn’t mean you won’t have a ton of fun along the way. AND, you will change lives. Remember, every single patient who enters your practice is about the be helped by chiropractic. That is some powerful motivation right there! I have said it before and I’ll say it every time I am interviewed or speak: you can build your practice from one single patient inside your doors. You don’t need expensive advertising campaigns, but you do need effective communication skills, belief that you are great at what you do and conviction that chiropractic care is what your patient needs. Beyond that you just have to talk about what you do everywhere you go and to everyone you meet. You are your best advocate!
If you just want to treat patients and not grow a business or our profession, then business ownership may not be for you. If you truly have a passion for chiropractic, a desire to help your community and an unparalleled drive to succeed, then go ALL IN on your business.
I want to see you succeed. The growth of our profession depends on it. It is my goal to INSPIRE you to have the CONFIDENCE to succeed in business. I wrote the book, THE MANUAL for the Chiropractic Entrepreneur to help you, the next generation of chiropractic business owners.
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Dr. Lisa Goodman, DC, CCSP, CACCP founded Washington Park Chiropractic in 2006 in Denver, Colorado. Author of THE MANUAL for the Chiropractic Entrepreneur, Dr. Goodman is passionate about inspiring chiropractors to find confidence in realizing their full potential…in practice ownership! Dr. Goodman is an international speaker to the chiropractic and medical professions. Dr. Goodman is a Certified Chiropractic Sports Physician (CCSP) and Certified Prenatal and Pediatric Chiropractor (CACCP). She is TPI-L1 certified through the Titleist Performance Institute. She is also a CrossFit Level 1 and CrossFit Kids Certified Trainer. Areas of special interest include golf biomechanics, youth athletes, ankle and wrist injuries, instrument assisted soft tissue techniques. Stay connected with Dr. Goodman on Instagram @washparkchiro or @drlisagoodman
