Hobby, Practice, Business. Which is it for You as a Chiropractic Doctor?
- Ed Petty
- Aug 26
- 3 min read
Is what you do as a doctor a hobby, a practice, or a business?
Or is it just a job?
Let’s take a look and find out.
Hobby. All practices begin as a hobby -- or should. Beginning your career, you become captivated by the science, technique, history, art, and philosophy of the profession. Your interest and passion drive you, with business operations taking a back seat.
Professional Practice. The second phase is building a professional practice. It is personality-driven, entrepreneurial, and owner-dependent, pushed forward by your constant presence. You nurture a loyal patient base through exceptional care and connection.
Professional Service Business. The third phase is a service business that is systematized and runs independently of your daily or weekly management. You may work part-time or take on the role of CEO, but clear and agreed-upon goals drive the business, which follows established systems. The popular word for this is to “scale” your business.
Not all doctors want to grow their practices into businesses. I remember a doctor who was kind of a wizard and just loved to adjust patients. He told me that he was interested in practice management, so I drove over and visited him. He introduced me to his “secretary”, as he called her, who ran the office. I saw that his few patients seemed very happy. His secretary was happy. He was happy.
I later referred a friend’s sister to him and heard that she loved him and got her health problem resolved. Turns out, he wasn’t really interested in practice management! Just curious enough to know that all he wanted to do was adjust patients.
Most doctors want to grow their caseloads and build a very respectable practice. They still enjoy practicing as a hobby, but they have also grown a network of patients whom they conscientiously support and retain.
Then there are the entrepreneurial doctors, those who want to grow their practices beyond themselves. By setting goals and systematizing their procedures, it is possible to “scale,” or grow without a corresponding increase in overhead or ownership time.
Unfortunately, most doctors who work to scale their practices experience the Practice Roller Coaster. This is common, but after a while, the zest for practice gets hammered down so that practicing is no longer a hobby.
It becomes a job.
Certainly, there are exceptions. We have helped many doctors expand into profitable service businesses over the years.
Five years ago, after observing this phenomenon of the Practice Roller Coaster “Beatdown,” I published a book called the Goal Driven Business. In it, I describe the hidden barriers that prevent practices from growing and outline the exact steps needed to create a systematized business.
If any of this applies to you, if you suffer from the Practice Roller Coaster “Beatdown,” consider these steps:
Hobby. Make Practicing Great Again! Get back to your roots and take up chiropractic, again, for the first time. Make it a hobby. Again.
Professional Practice. Enjoy your patient network and make a decent living.
Professional Service Business. If you want to scale and go to the next level:
a. Read my book, the Goal Driven Business, for the exact steps to a profitable,
independent business.
b. Want hands-on help? Contact me about our Goal Driven Consulting program
to build a scalable business that is not reliant on your daily management.
Create a profitable, scalable business
no longer dependent upon your daily management.
Seize Your Future Now,
And stay Goal Driven.
Ed
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If you have any questions about creating a Goal Driven Business, just schedule a call or reply to this email.
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PS: Get on our waiting list for our next MBA program if you are interested. I will be sending you special information about practice management, leadership, and marketing.
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