You need to change.

As someone who reads these blogs, I am sure you are someone with an aspiring business, a growing business or you are a chiropractor within another business aiming to grow?

So with that, there are a few things worth understanding in order for our business to grow and one in particular today that I wish to touch on.

1.       Understand that your business exists to solve the customers problem.

2.       Your business is dictated by the market.

Both of these are external interests and too often we put our blinkers on to say that ‘my business exists to make money’, and ‘what I do is so unique and great that the market will buy it’. This is so far from the truth. However, at the start of a business it is easy for your glasses to be rose tinted, not just because you have that initial enthusiasm, but also because you are exactly that, new to the market and therefore by proxy, exciting to those first implementers, the people who first buy from you.

But if you’ve been in the market for a year, things will likely change. That fast funnel of New Patients slows down, your ROF conversion goes from 90% to 70%, you lose your first team member.

All of these are frustrating in isolation but if looked at as a whole they are highlighting a shift in the market, a shift in the publics buying and staying attitudes. This has happened very rapidly over the last few years, having just come out of some of the most fruitful market times where people made quick buying decisions, employees stayed for 5+ years, we now hit a time where people take longer to make a purchase and employees move on faster. All of which added up can have a significant impact on your business.

So what can you do?

There are two simple things to do when you see the market change and move, these need to be done quickly but given deep thought. One of the most important traits of any successful businessperson is their speed of decision making.

1.       Produce and market new products (or give the appearance of).
Often a slowing of sales, be that New Patient generation or ROF conversion is due to fatigue of product, essentially it’s become samey or boring.
Now I know that as a chiropractor your product remains the same. But how can you package it differently, what are some new Unique Benefits you can market. Is there another demographic you can focus on.
Get creative, be young (in business) again and come up with a new and exciting way to package your service.

2.       You need to change.
As the leader and guide of your business, you need to be prepared to change. This is not to bend and conform to the market, but to elevate and step into a new leadership role. You need to work on your 2.0 version. Think back to your company values, to your values. Evaluate your performance against them, are you as good as you could be? Do you need to step up?

The time to implement is now, don’t wait or you’ll be left behind.

With love,

Tom