August 2008

The best time for growth is in a bad economy

by Dr. Kevin Pallis and Dr. Ed Plentz

At The New Renaissance, we get asked again and again how some DCs grow and flourish in an economy where there's so much negativity. Insurance coverage, DC saturation, high (and rising) gas prices, inclusion with PPOs, and things of this nature are all external factors over which you have little control to affect your success. Yet, there's no better time to be a chiropractor than right now.

The internal parameters of success are the same in a great economy as a poor one. The problem is that during a poor economy, more DCs get exposed for not knowing or understanding them.

Think of a bad economy like speed as it relates to your car. If you go faster, you'll expose flaws in your auto's handling, braking capacity, stability, etc. Going at a slow rate (great economy) gives many unknowing and unwitting DCs the illusion there's nothing wrong with their cars (practices). Big mistake! It's only when you add speed to your unprepared vehicle that you soon discover its flaws. Our practices are no different. Great practices flourish in all market conditions. Period.

The most overlooked success strategy in any economy is staying connected. When experiencing stagnation or even shrinking of our practices, many DCs opt for rugged individualism and wall themselves off from their colleagues and the profession in general. They don't coach, they don't attend seminars except to keep their licenses and they start to drift and lose connection. They feel isolated and choose to wail and gnash their teeth in silent, quiet desperation.

Staying connected with like-minded DCs who refuse to participate in recessions is a most important strategy for success. While many DCs who aren't connected will readily accept lower levels of achievement and isolate themselves from people in an effort to cope with external economic factors, our people constantly call and e-mail each other with creative ideas and solutions to their challenges.

If we look to nature, we see that birds -- particularly geese -- fly in formation to accomplish feats of endurance that can't be achieved solo. Encouragement, connection, being a part of something bigger was known to nature long before humans discovered the effect of being "part of the pack." In almost everything -- sports, music and chiropractic college -- groups bring out the best in people. When we experience a downturn or a challenge in our practices, we need to resist the natural tendency to turn away from group connectedness as it's the very experience that will put us on the path of growth.

Chiropractors are no different from anyone else. No matter how capable or proud we are, we're all looking to be connected. We want to be part of a community where we come together with our love of chiropractic even though we may have different beliefs, techniques, and ways of practice. Belonging to something larger than ourselves is so important to our short- and long-term growth.

Yet, many DCs experience burnout as a response to (or a consequence of) staying too long on that isolated island of accepting less than they know they're capable of. When they went to chiropractic college, they were charged with a dream that somewhere along the way turned into an existence. Passion became an ordinary job.

Are you one of these doctors? When you were new in practice you attended seminars, state meetings, and you talked philosophy until the wee hours. Now, you say you're busy with your office and your family. If you're honest with yourself, you'll realize you've lost your connectedness with successful, purposeful DCs.

Connected, successful chiropractors didn't concern themselves with the economic climate when they started their practices. Some began the day before Christmas and were successful from the get-go. Some started when interest rates were 25% for a fixed rate mortgage. Others set up practice in towns that had dozens of DCs and they were immediately successful.

Successful chiropractors are especially proud that when everyone else around them is complaining, their offices are setting records. Their staffs are very optimistic about the future and they demonstrate this attitude daily.

There's a price to be paid for this success -- especially now. You have to stop hanging around negative DCs who insist on preaching doom and gloom (which is a fair trade because they're just as aggravated with you for being successful). The idea is, success is a mindset and when you have this mindset you want to be connected to people who share it instead of those who attempt to tear it down.

Good economy, neutral economy, bad economy. It doesn't matter. You can be successful in any economic climate if you remember that isolation is not the answer. Connect (or re-connect) with successful DCs. You'll be glad you did.

(The New Renaissance is a movement of passionate chiropractors dedicated to changing the world. The leader in patient education since 1977, the Mentor IV Coaching Program is a step-by-step navigational guide that embodies the very essence of The New Renaissance vision of healthier people creating a healthier world. Without patient education, your patients won't "get it." To learn more about The New Renaissance, contact world headquarters at 800-525-3879.)