From Martyrville to Profitability

People assume a lot. They assume that in order to succeed in practice, all you have to do is be known in your community and serve a large amount of people. Truth is, I made the same assumption over 10 years ago when I was first starting in my practice. I assumed that in order to see my bank account increase, the recipe was serving a high volume of people. Makes sense, right?

Yah, not so much.

You see, right out of chiropractic school, all I had in my business arsenal was my chiropractic degree and a passion for serving chiropractic to growing families. I invested lots of time and money in my education and adjusting skills outside of school; however, I realized very quickly I didn't have very many tools in the business department. To be honest, I thought being interested in the ‘business’ arena meant I thought making money was more important than serving people, and I didn't want to find myself in that camp.

So there I was, starting out in practice like "the little engine that could", grassroots style. Planting seeds where I went, butchering communication about what I do, and learning how to do it better the next time. It was slow, but steady. God blessed me with little bursts of momentum and growth to keep my spirit up and affirming in me the direction I was going. The practice was slowly growing and building, growing and building, growing and building. After a little while I came up for a breath of air from serving to evaluate how I was doing only to see my bank account was in the same place as when I started!

A BIG problem in all of this was the fact that, at the time, my 3 year old daughter was either with our nanny or at daycare while I was serving, prepping, planning, and trying to make sure everything was done right. Flat out...I was paying other people to be with our child  while I was serving at a practice that was "growing" in every way except financially. Anyone else freaking out at this point?! I sure was.

Wait for it... it gets worse.

I was at a crossroads between continuing on my current path while ignoring that I needed to be aware of the ‘business’ I was in, OR gain insight into something I clearly knew very little about. Thankfully, out of love for my family and the passion I have serving in my practice, I chose the latter. In fact, I came across 3 stats that changed everything for me. EVERYTHING. It lit a fire so hot underneath me that I had no other option but to take action and take it quickly!

These stats informed me that it was COSTING ME two dollars every time someone came in my office!!! It not only showed me that my services weren't profitable, or even free, but I was paying people two dollars per visit out of a bank account that couldn’t afford it. I couldn’t even breathe, y’all!!! Something had to give.

This could not go on any longer and unfortunately there was only one person to blame... myself. It was clear that it was time to make some serious changes.

I came up with a game plan to change the course of my practice in a big way. I talked to my supportive hubby and told him with the best game face I could muster, "I'm going head-down for a bit. This will be worth it for our family in the long run." And with that we agreed that we would move forward and rally to support it.

It was exciting, terrifying, gut-wrenching and beautiful all at once. I gained a healthy perspective of the exchange I have for my services, and found a number that made sense based on the cost of serving in my location. I knew that it wouldn't be the best fit for everyone in my practice or future interested clients. The people-pleaser in me did not like this at all, but I knew it made the most sense and it had to happen.

Truth talk? Each practice member went through our new process and we had to introduce a new fee structure that was not only going to allow me to stay in business and keep serving them, but also allow for us to be profitable enough to invest back into the office for upgrades, moving to bigger spaces and implement new systems that help their experience in our office. I knew walking into these financial convos wasn’t going to be all "sunshine and rainbows" and they weren't. I had to sit across the table from people who I loved dearly, those I had attended their children's births, and those I was doing life alongside. Some could afford what was being offered and others could not. Some completely understood and others did not. It was hard. But looking at the numbers, knowing they were telling a story and displaying facts supported me through the process because I knew WHY the fees were what they were. This is the stand I had to take for myself, my family, the practice, employees, and the clients we serve.

Thanks to the awareness, decision to take action, and carrying out that action our practice headed towards profitability. I have so much gratitude for the journey of walking through that exhilarating, yet challenging lesson in order to strengthen me in clarity and certainty when it came to value and exchange.

Check out "The 3 Stats I Wish I Knew When I Started in Practice" to get the info on the stats that literally changed my life. I consider it a gift to my former self because I would have loved to have this when I was first starting out. I hope this can help someone else in their journey towards serving what they love and receiving beautiful compensation for those services.

Did this resonate with you? Know someone who could benefit from these words or this freebie? Like and share this with your friends and colleagues!! This profession will be better for it.

More profitable chiropractors = a more strengthened and impactful profession.

Here for you!

Dr. Denisa