A couple years back, I had the pleasure of having a meal with an old palmer graduate who was in fact lucky enough to have met Dr. B.J. Palmer in the flesh while a student. He also had the pleasure of practicing with Clarence Gonstead and Dr. Clay Thompson. A living legend indeed!

What struck me about our conversation was that he said that he saw his highest numbers, earned the most money and was his happiest when NOT OWNING his own place…but rather as an associate.

INTERESTING RIGHT…!

It got me thinking…SHOULD EVERYBODY OWN THEIR OWN PRACTICE??

Let's start by saying… 

I AM UNEMPLOYABLE, I AND LOVE THE CRAZY WORLD OF OWNING A BUSINESS…but please be aware, IT'S NOT FOR EVERYONE…and that's OK!

There is this weird thing in the chiropractic profession that makes those that don't own their own practice feel “less than”.

Let's face it, just about every conference you go to will result in a speaker asking the owners to distinguish themselves from the “associates” leaving the “associates feeling like they haven't “made it” until they own their own practice…

Well it's absolutely ridiculous…

The truth is that there are A LOT of chiropractors that should NEVER own their own practice…AND THEY WILL BE HAPPIER AND OFTEN EARN MORE MONEY! 

[more about this in my next email]…

It is a well know concept within most entrepreneurial circles that not everybody is cut out to own their own business…

For many years I have been of the opinion that for some reason within our profession we don't give “owning a business” the serious consideration that it deserves…

Its really about “self awareness”… 

LET ME BE HONEST…

The truth is that in my 10 years of owning multiple practices and working with just about more associates than anybody on the planet and additionally also seeing more accounts than anyone on the planet…

Here are the facts:

ASSOCIATES OFTEN MAKE MORE MONEY THAN THE PRACTICE OWNERS.

SHOCK HORROR!

Yes money plays a part, so does autonomy and being challenged…but if you are simply looking at risk to reward ratio…there are many associates that will NEVER in their life have these types of odds so overwhelmingly in their favour!

Of course, most associates will only realise this when they “leave”…

HOWEVER THAT BEING SAID…

Some people absolutely need to “LEAVE”… and open their own business. We call theses people “like me” the unemployables 🙂

No amount of money or numbers will make them “happy” until they do own their own place. 

Of course I am cut from this same cloth so I understand. 

They need to fulfil the entrepreneurial expression…which often makes them happier!

BUT DON'T MIX THAT UP WITH THE IDEA THAT MOST BUSINESS OWNERS EARN MORE MONEY…

THAT JUST AIN'T TRUE !…SADLY 

Why am I telling you this?

SOMEBODY HAS TO!

Owning ANY business is scary and should be approached with much seriousness…

Elon Musk once said:

“ENTREPRENEURS ARE THE CRAZY PEOPLE WHO WORK 100 HOURS A WEEK SO THAT THEY DON'T HAVE TO WORK 40 HOURS A WEEK FOR SOMEONE ELSE” 

It often doesn't make sense…

BUT if you are prepared to do what most are not and learn from those that have “done it”, then EVERYBODY CAN DO IT…but that doesn't mean that everybody should “do it”…

Key points:

  • Some should
  • Some should not, and that's fine 
  • Opening your own practice doesn't always mean earning more
  • Sometimes those that open their own place are miserable and would be happier as associates 
  • Some will make more money as associates but are miserable and should open their own place, even though the risk to reward ratio “doesn't make sense”
  • The key is self awareness 
  • The goal is HAPPINESS

Love and light,

Ryan