Sponsored by Tony Robbins
Opening your own chiropractic clinic can be incredibly empowering. But it can also be a source of uncertainty.
There is a push-pull common among chiropractors: You love the clinical component, and you love helping people, but the business part can feel foreign to you.
Even though you have in-depth knowledge of your domain and your clientele, it can be intimidating to start a business without a business degree or any previous experience. Growing a business is difficult and risky, even with that experience. But like Tony Robbins says, if you’re not growing, you’re dying – you must expand your business and adapt to the economy if you are to be profitable in an ever-evolving market.
Joe Graffeo is a chiropractor who was in this situation – his small family practice was ready for growth, but that put Joe at a crossroads. His true gift in business was that of an artist – providing outstanding clinical care that created raving fan clients. He knew Graffeo Chiropractic Clinic needed to evolve, but he lacked confidence stepping into his role as business owner. When he attended Tony Robbins’ Business Mastery, an in-person five-day event, Joe learned more in those five days than he could have from any business school or professional conference. And it wasn’t just the fundamentals of running a business, like creating world-class sales systems or how to increase retention and referrals from existing clients. Joe learned how to step up and overcome his deepest fears about being a leader.
As Tony Robbins says, the chokehold on any business is the psychology and skills of its leader. When you transform your mindset, you transform your life. Instead of living in fear about what could happen, do your best to prepare. When you develop a growth mindset, you’re able to take the reins and elevate your practice to its true potential.
Develop the fearless mindset of a leader
In business and all of life, your mindset is the make-or-break factor that will propel or derail your aspirations. Business leadership is part psychology and part technical expertise, and even the most skilled business minds can be incapacitated by a lack of confidence.
Without self-assurance, you shy away from growth, adopting an “if it’s not broken, don’t fix it” mentality. Stagnating feels more comfortable than taking risks, but it doesn’t prepare you for the winter ahead. Tony Robbins says that merely operating your practice leaves you stressed out and overwhelmed. To build a chiropractic practice that’s strong and adaptable, you must adopt the mindset of a business owner.
Build confidence as a business owner
Acknowledging your weaknesses is a sign of strength, and addressing them empowers you to be a strong leader. To build confidence, focus on your strengths and accomplishments, from having earned a chiropractic license to starting a business.
Your unique combination of clinical expertise and personality traits will energize your growth into leadership. These are assets you will also leverage to grow your practice.
Optimize your chiropractic practice for high growth
Optimizing your chiropractic practice requires strategic, sustainable scaling. You must implement a system of control by gearing your core services, processes and operations toward overall profitability.
With an efficient business strategy in place, you’re able to trim costs, balance your cash flow and provide seamless, integrated services for your clientele.
Evaluate your core services’ profitability
Market demand shifts constantly in any industry, influenced by changing regulations, economic conditions and even public perception. The field of chiropractic medicine is no exception, and you must remain adaptable to maintain relevance. Take an honest look at what it costs to provide your core services against what you’re getting in return.
Are you losing money on the treatments you provide, techniques you use or technology you employ? If there’s an imbalance, ask yourself why. Is your pricing structure imbalanced? Is there insufficient demand for your core services? Are you failing to reach your ideal customer? Are you losing patients to competitors who’ve achieved greater efficiency?
Gauge the efficiency of your processes
Efficient finances make for efficient businesses. If your expenses exceed 30% of your revenue, you must trim business inefficiency. Determine which processes are bleeding money – take a good hard look at your finances, operations and staffing practices.
Does your team have what it needs to do its job? Are your operations – the processes you use to create and deliver your product – costing you money? Are your financial management practices putting you in the red? Securing an experienced business coach is an excellent resource for gaining clarity, eliminating unproductive activities and channeling that energy toward systemic expansion.
Appraise your tools and platforms
Creating operations that are dependable and adaptable is crucial to your clinic’s success, including the tools and platforms you use to deliver your product. When Joe Graffeo analyzed his chiropractic practice, he found room for improvement in two key areas:
Delegating — Joe realized that instead of relying solely on an accountant for financial data, he needed a CFO to provide financial intelligence. With a fresh bird’s-eye view on his practice’s numbers, Joe got the optics he needed to successfully expand.
Moving to a digital platform — When Joe shifted to digital systems for marketing and bookkeeping, it significantly lowered his overhead. By going digital, Joe was also able to stay connected with his patients without having to be in the office.
Maximize your core team
When it comes to running a successful chiropractic clinic, your staff is as critical as your customer. Building a powerful chiropractic clinic means balancing your weaknesses with a high-performing team. When Joe hired an operations manager and business consultant, he was able to refocus on patient care – and enjoy his work again.
Your team must be skillful, innovative and efficient. You must enable your team to perform at its peak by providing the tools they need, from technology to a healthy organizational culture. Committing to constant innovation is key, and your team is essential here.
Have a brief daily meeting to get everyone’s input so you can stay abreast of your team’s needs.
Prepare to realize your dreams
When you put in the work to overcome your limiting beliefs, you become a leader well-equipped to fulfill your business vision. It’s a spiritual experience that builds your personal and professional capacity while creating pathways to wellness for others.
Joe Graffeo achieved great success with his goal of business growth, increasing his profit margin by 30% in just one year. But Joe left with much more than an increase in profit. By renewing his commitment to helping others through exceptional chiropractic care, Joe created a compelling future for himself, his clientele and entire team.
You deserve to realize your professional dream of running a top-notch chiropractic clinic. Get the support you need to thrive with Tony Robbins’ 7 Forces of Business Mastery. This free content series provides strategies for growing your business and your leadership skills.
About the author
Tony Robbins is an entrepreneur, best-selling author, philanthropist, and the nation’s No. 1 life and business strategist. He is the author of six internationally bestselling books, including most recently New York Times No. 1 bestsellers UNSHAKEABLE: Your Financial Freedom Playbook and MONEY: Master the Game. Robbins has empowered more than 50 million people from 100 countries through his audio, video and life training programs. He created the No. 1 personal and professional development program of all time, and more than four million people have attended his live seminars.