Much hard work goes into beginning a new business, and we all know that blood, sweat, and tears arc the primary ingredients for success. However, it takes much more than that to establish a thriving business. In building your chiropractic business, mam other factors also come into play. After many years of running a chiropractic business, my partners and I have come to understand that there arc a few elements tliat arc absoluteh critical to becoming successful. The follow ing four tips should help you fine-tune your chiropractic business and have your message reaching the masses in no time. Choose your Name Carefully First of all. your business will need a name. And not just any name, but something people will remember. A clever, descriptive name is actually a smart business strategy. The name of your business is key. Although it is difficult to come up with a name that is descriptive, yet one of kind, many people have had success with this. For example. Coca-Cola's name comes from the coca leaves and kola nuts used as flavorings in the original drink. And Google derived its name from the fact that you can find a "Googol" of information from an Internet search engine (a "Googol" is the number "1" followed by 100 zeros.) Put much thought into your name—it is imperative that people can remember it and recommend it to others via the best kind of free marketing: word-of-mouth. Promote your Practice Once you have a name, you will need to advertise and market your business. Marketing is of utmost importance. Without it. there will be limited or no growth. Marketing your chiropractic business is necessary from the very beginning, and needs to be a continuing part of your overall business strategy. Direct mail is one of the oldest and most effective ways to reach your market. You can rent or purchase a mailing list and then mail postcards to announce or promote your practice. Your mailings will go out to areas in the vicinity of your practice. Your postcard can educate the public on various treatments and sen ices while also advertising your name and location. In addition to postcards and mailings, the Internet is another great way to draw attention to yourbusincss. These days, people are constantly online, so having a website for your chiropractic business is essential. The website can be simple and docs not need to be fancy or expensive. But even a basic website should look professional, should contain a short bio for each doctor or provider, and should list your sen ices, address, and contact information, including email. It"s important to remember that marketing does not stop once you have a steady How of patients. To maintain your clients and continue to grow, you must continue to market your business from within your business. You may consider setting up a monthly theme in your office ora birthday board with patient's birthdays posted. Periodically cmailing your clients with newsletters, updates, and special discounts is another good idea. Offering occasional promotions, discounts or free screenings is a great way to attract new business and show existing patients that you care. The business strategy here is to encourage patients to strike up conversations about your business. Again, the best marketing is word-of-mouth. and it's free! Manage your Business Regardless of how well you advertise your business, you will only be as successful as your management practices allow. Before you ever delve into a new business, consider the cost. Literally sit down and make a basic spreadsheet to consider the upfront cost of beginning your business. Consider your operational costs, marketing costs, and the costs of your supplies. Make certain that you have enough capital before you start. Next, consider your cash flow. You need a steady cash flow to continue to thrive each month until your business is steady. If you need more capital or cash, consider these options: 1) Partnership. A partner can share the cost, but will also share the potential profits. Your partner also needs to be someone with whom you share mutual tnist and with whom you get along well. Weigh this option if necessary. 2) Cost cutting. To cut back on initial costs, find employccs-perliaps friends or family—who are willing to work for deferred salaries in the beginning. And postpone any and all purchases as long as possible. Pamper your Patients Most importantly, your customers, your patients, are your most valuable assets. Without them, your business is nothing. Once you have a client, you must work hard to keep him by exceeding his expectations. It's much cheaper to keep a client than to attract a new one. so keep clients happy and keep them coming back. Your customers arc also your greatest and least expensive mode of marketing. Call them on occasion, just to check on their wcllbcing. Get to know them and develop a relationship with them through dialogue in the office. Treat them well and they will spread the word for you. Tom Owen III, President ofAMC, lectures extensively from coast-to-coast to thousands of chiropractors and students annually. He is the author of Chiropractic from a Business Man 's Perspective, and has spent the last 25 years in the day-to-day trenches of the chiropractic profession. lie lives bv his quote that "In the end, all that is left are the lives we 've touched and to what extent tliey were changed. "
