When I graduated, the first thing on my mind was, how do I get my own practice?…
I thought I could do it. I had confidence in myself as a chiropractor and a business owner. I chose not to work for someone else. The path I chose many other doctors failed at. Sometimes when you experience failure at something you never go back.
It can hinder the outcome of your career so its best to take an in depth look at the choices you have. I will tell you what happened with me. Its not a familiar story…unfortunately.
Owning your own business is not for everyone. Let me tell you some of those barriers to getting started in your own business then you can decide which direction you would like to go. My purpose here is not to talk you in or out of it, but if I can paint a clear picture of how it will go you can make the best decision for yourself:
1) Having the money.
I remember someone telling me. If you open your own business don’t expect to make any money in the first year. If you break even you are doing well. I didn’t like the sound of that. The reason I was opening up my own business was to make money.
I always disliked getting paid hourly. My very first business I had was cleaning houses. I was 17-18 years old and I loved the idea of making 60 bucks for 2 1⁄2 hours of work. This was big money for me then. I could go and get a job bagging groceries but that was minimum wage. I had to work a day and a half to make 60 bucks.
2) Knowing exactly what to do first.
When you open your doors you have no patients. How do you split yourself between marketing your practice and being there to answer your phone? A business owner has to be able to multi-task. When you open your doors sometimes it’s just you so you
have to be good at handling the many different jobs that have to be done.
I remember being at the office late at night painting. Now I definitely hire people to do those kinds of things.
3) Marketing can be very challenging.
There is a lot of trial and error. My clinics marketing budget is steep. If I had that kind of capital when I opened, the runway would have been shorter but I may have wasted more money if I had it to spend. There are so many promises made for marketing
campaigns that come up empty.
4) Location, Location, Location!
Sometimes your budget doesn’t allow you to be on the most populated corner. Shopping center rents can be expensive and have a lot of hidden costs. These are just a few things that come up for new business owners.
The other way to do it is work for someone else for a few years. When you feel like you have enough knowledge and enough capital saved make the move then.
I am sure many doctors plan on this route and never make it. You start to feel comfortable with the income and its hard to go back to making no money. Owning your own business isn’t for everyone. If you go into it with coaching you have a much better shot at making it. If I was going to explore a deserted island I would definitely take a tour guide to ensure my safety and make it to the other side alive.
There are many pitfalls along the way decisions to make and skills that you need to have. Our membership program is packed with tools to help you succeed and it is the most conclusive affordable program out there. I made the right decision because it paid of for me. I had a successful career and helped lots of people with a family practice.
If you are interested in our program, try it FREE for 14 days HERE.