July 2009

The new opportunity in the new economy

by Dr. Kevin Pallis and Dr. Ed Plentz

Right up there with our recent offering on "wussification," this month's column promises to have the most impact on DCs as far as relevancy to practicing in today's climate is concerned. There has been no better time in history to be a family DC than right now. In the new "dark" economy, all chiropractors are forced to understand this mandate: Patient relationships are the straw that stirs the drink.

Prior to this recession, many doctors refused to heed our advice about “relationship before education.” Now they're asking us in record numbers how to make emotional connections (bonds of trust) with their practice members. You can’t educate a person until they trust you. Failure to understand this concept results in being "yessed" to death until the insurance benefits run out, slow practice growth, and much frustration as to why patients don’t "get it."

Adversity always offers great rewards for those who can successfully navigate difficult terrain. A great example of this would be airline pilots. Do you know the difference between regional airline pilots and major airline pilots? They both have the same degree and graduate from the same schools and yet their income varies greatly. The last regional airline crash (in NY) the pilot earned $16,000 a year. Major airline pilots start at $80,000 and go up to approximately $150,000. That’s a huge difference for two pilots with the same degree.

In a seven-year time period, 150 deaths occurred aboard a major airline, while a regional airline recorded just one. Again, a vast difference.

In terms of the number of hours and flight simulator time of regional airlines compared to majors, regional pilots do just enough to keep their wings. They go to license renewal seminars only. Major airline pilots have many hours and training in addition to that required to keep their wings. They invest in themselves with additional training and seminars. Why? They have a supreme commitment to their passengers and a love of flying.

When adversity such as ice on the wings confronts a major airline pilot, it’s something they've prepared for over and over. Think of the major airline pilot that landed on the Hudson River when geese disabled the engines. When the same adversity hits a regional airline pilot, they have much more difficulty correcting for the crisis.

Adversity either illuminates your ability to transcend adversity or exposes you as not being prepared. As DC’s, the recession is doing the same thing. Your biggest and best opportunities are during periods of adversity.

So what is it that enables some DCs to master difficult circumstances while others hunker down and endure the pain of having a mediocre practice? It seems that highly successful chiropractors have a character quality some call “stick-to-itiveness.” Once they see an opportunity or set out to do something, they stick to it, regardless of external circumstances like the economy. Such people always invest in themselves regardless of the economic climate. Such people are a small percentage of the general population.

Let's compare them in the field of working out. There are people who choose a diet and exercise regimen, lose weight and keep it off. Yet, they're few in comparison to the many who briefly try one thing after another, one diet after another, one gimmick after another, but never stick to anything long enough to get sustained results.

In our wonderful world of chiropractic there are doctors making mid- to high-six figure (and seven figure!) incomes in this economy while thousands and thousands of DCs drift from low paying associateship positions to independent contractor, starting their own offices and quitting on their dreams, or settling for a small, unprofitable practice devoid of vision, passion or purpose. Why would a pilot with the same degree and training settle for such low pay and prestige as that of a regional airline pilot? Same reason DCs choose to have mediocre practices. They don't invest in or believe in themselves.

The new economy is busily working itself out, with confusion, chaos, uncertainty and fear ruling many chiropractors' lives. Think for a moment about having clarity of vision and the certainty of exceptional income. Imagine not having to put any of your plans on hold (additions to your house, new houses, vacations, saving, buying of a building for your office, toys, etc.)... not worrying about your future... not being a “shrinking violet” in this economy. Instead of filling the low expectations of the herd mentality of what a DC is supposed to be, picture yourself as a leader in your community for family health.

This is the opportunity the new economy brings us. Do we hunker down like the herd and wait and see, or do we burn the bridges and play full out like our lives depend on it?

We’ve made our choice. Now it’s time you made yours.

(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.)