Leaky Bucket

May 21, 2013 in Free Practice Building Tips

by Taryn D’Agostino

Ever feel like you’re working really hard but nothing is changing in your office? Ever feel stuck? Paralyzed? Burnt Out?
The bad news: a lot of chiropractors are stuck in that rut perpetually. The good news: The path to getting out of the rut is as simple as plugging a leaky bucket. Plugging the leaky bucket has catapulted many an office from “rock bottom” to “rock star”.
A study was done of 8th grade students who were asked to solve a problem: get out of a 25 foot hole with 15 feet of rope. Less than half found a solution when asked to find a solution for their own lives. However, when another group was asked to find the same solution, but for a friend, over 70% realized the solution – unwind the 15 foot rope and tie the two ropes together to make it 30 feet long. As I have trained offices, I have found the solutions to their biggest frustrations were staring right at them, but often they were too close to the problem, and hence too far from the solutions. When we discussed the solutions, they would acknowledge how obvious the solutions were. To ensure the solutions became reality, we helped create and implement simple procedures, protocol, and role playing training. This process invariably lowers the incidents of dropped balls and ineffective processes – HOLES in the “Leaky Bucket”.

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Secrets of Wealthy Chiropractors

May 20, 2013 in Free Practice Building Tips

by Vince Covino

All chiropractors live principle-based lives. The difference between wealthy and broke chiropractors is merely the nature of the principles they practice. Some principles will enslave, while others will set you free.

As I have observed my most successful clients I have noticed a singular trait in each of them: they consistently identify the limiting principles in their lives, and metamorphose each into its liberating counterpart.

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Top Profitability Killers

May 20, 2013 in Free Practice Building Tips

by Vince Covino

One of the biggest determinants of wealth for chiropractors is profit margin. The following themes with their associated questions are designed to help you identify where you can increase your net profits.

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‘Your morning routine could change your life and practice’

May 20, 2013 in Free Practice Building Tips

by Dr. Marc Gottlieb

As a chiropractor in solo practice for 12 years and a chiropractic coach/mentor, i have practiced and taught many people to incorporate the question of the day in their office. One of the greatest struggles for a practicing chiropractor is their table talk. Once you incorporate the question of the day, it changes everything. You become more focused, the conversation in your office become streamlined and on purpose, your TEAM is engaged in the topic of health, and your practice members feel that you really care about their well being and progress as a human being.
I am often asked to provide my top 50 questions of the day as if I can just rattle them off or have them written in word format to send at the click of a button. My question of the day is not going to be your question of the day I always answer. Doctors then ask how I come up with them each day and I am about to share with you that very process. The morning routine, where your headspace is will determine what the topic in your office will be. We have a television in our open adjusting area that has on it a different question each day. Our practice members are trained to read that very question each and every adjustment, to then then lay down on the table and think of their answer while someone else gets adjusted. This entire process is taught in our video series called ‘Legacy University.’

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Hiring Superstars – Key to Success

May 20, 2013 in Free Practice Building Tips

by Vince Covino

I once sat down to dinner with a Risk Mitigation Expert that worked with several Fortune 500 retailers. He offered scintillating hors d’oeuvre conversation because the tales of what people would try to steal and the motivation behind it offered an interesting look at human behavior. These people were artists at deception—they’d been liars their whole lives, and only the truly skilled could strip away their personae. In a strange way, after being caught, these criminals were also in the Risk Mitigation business. Surprisingly, the majority of his work in dealing with loss for these companies was loss from employees. Getting the right employees was absolutely critical.

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13 Questions every Chiropractor should ask their CPA

May 20, 2013 in Free Practice Building Tips

by Vince Covino

As a Chiropractor, do you realize that almost half of every hour of your labor is for the benefit of the Federal or State government? Between income, property, sales, and capital gains taxes, your days from January through early May are likely spent simply paying taxes. We even name the day “Tax Freedom Day;” this year it was April 12. How often does your CPA call you to share ways you can benefit from new tax legislation or with a personalized tax savings idea? If you are like most Chiropractors, it simply doesn’t happen. Here are 13 questions to ask your CPA to help foster proactive and comprehensive tax advice:

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Earn More, Keep More

May 20, 2013 in Free Practice Building Tips

by Vince Covino

My wife and I shivered looking down on the ice as the time ran out on our local hockey team; somehow our team had managed to maintain a tie against a seemingly superior opponent at the end of regulation and overtime.

The opposing team put up a blistering 50 shots on goal to our 30 but ended up losing the game 5-3 via a shootout.  Forgive the cliché business-to-sports metaphor but many Clinics take far more shots on goal in terms of overall revenue, but in the end lose the match because profitability is low.  In short, they earn more, but keep less.

All shots aren’t created equal; neither are hockey players, their intensity, or the timing of the game.  The same could be said of business intelligence, employees, or the systems they use to run your business.  Below are a few principles that will help your practice augment the activities that will bring success:

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Business vs. motivation training

February 12, 2013 in Free Practice Building Tips

by Vince Covino

The majority of chiropractors have at one time or another attended a chiropractic seminar, but have never attended business seminars frequently held for dentists or physicians. At these events, no one is preaching to fill more cavities. Instead, you hear detailed advice on how to develop an efficient and effective business model by thinking and acting like a business owner. The sad irony is that most DCs would benefit more by attending a business workshop than just another traditional trade seminar.

If you’ve been to the variety of chiropractic conventions as I have, you’ve probably witnessed the charade of an overly enthusiastic motivational coach. The gist of such presentation is that we need to do more adjustments — thus saving more lives — invest more time and energy, put in longer hours and, in general, work harder. The rally cry goes up, and the message is expounded, and it really comes down to an issue of putting more effort into your business and laboring by the sweat of your brow. While it can be very inspirational, the inspiration tends to wane and die out by mid-Monday afternoon, leaving you wondering why things haven’t improved the way the presenter passionately described it.

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