Although chiropractors are generally hardworking, dedicated professionals who strive to correct sub-luxations in order to benefit the overall well-being of their patients and community, they still might be clueless on how to run an efficient and profitable practice. Technique expertise and talent are not enough. Matter of fact, the myth upon graduating simply isn't true. We've all heard it 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 in today's economy will tell you it's simply not true! So where does one start? 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 because you are! It's up to you to go out and build a business around your definition of chiropractic. Unlike medical doctors, you don't have the luxury of joining the local hospital in order to draw a paycheck. Your time, energy, and entrepreneurial spirit are what pay the bills. Some doctors believe success lies in establishing good rapport and having a positive reputation within their community. Even though those things are essential, they aren't the foundation of a successful business model that's part of an efficient system toward future growth. These types of chiropractors would avoid many mistakes, pitfalls, and loss of money simply by following the guidance of a well-seasoned coach. For the graduating chiropractor, even more variables come into play. You need to thoroughly understand your market and the potential patients you'll serve. One way this is done is by performing a thorough demographic analysis. This helps you identify your target market as well as how many chiropractors are currently practicing in your chosen market. The physical location of your chiropractic office is also very important. But the aforementioned is just the start. Consider this: what should you consider before signing a lease? What about leasehold improvements? Do you know how to negotiate with a landlord for optimal financial benefits? That's just scratching the surface. We haven't even talked about how to determine what type of marketing works within the community you've chosen! Although it is hard to make any accurate comparison between chiropractic and top athletes, sports coaching might serve as a good example. Even when reaching a high level of expertise, skill and recognition, top athletes still require a coach to supervise their training. This is because no matter how hardworking and dedicated they may be, they still might forget or miss certain details that will impair their performance in the long run. Being able to control and keep track of all nutritional requirements, vitamin supplements, motivation to train harder or any small injuries is frequently beyond the abilities of even the most disciplined athlete. Additionally, it is difficult to push themselves hard enough in their training to reach peak performance. Although a few adjustments to this comparison are required, it does not have to be different with a skilled and dedicated chiropractor. Additionally, once your practice is up and running, maybe you'd like to spread those entrepreneurial wings even further. What better way to do so than by utilizing a coach that understands the dynamics of running either an associate practice or multiple practices spread out through various different communities. By utilizing an experienced coach, you can avoid many headaches! A highly trained coach who possesses the necessary expertise with financial details, advertising and promoting, and business management will benefit you greatly in the long run, leaving you focused solely on your practice and on refining your skills. Tom Owen III, President ofAMC, lectures extensively from coast-to-coast to thousands of chiropractors and students annually. He is the author «/Chiropractic from a Business Man's Perspective, and has spent the last 25 years in the day-to-day trenches of the chiropractic profession. He lives by his quote that "In the end, all that is left are the lives we 've touched and to what extent they were changed.
