Shout out to the best cover of this Barret Strong song by the Flying Lizards. (The music video is astoundingly bizzare by today’s standards.) From a pure business standpoint, what is the most important thing in keeping a business growing? Principles? Training? Purpose? Skills? A great team? Limiting overhead? A good accountant? Nope. None of that. From a purely economic standpoint, the most important thing in keeping a business growing is…
PROFIT.
There, I said it. I know we are doctors. I know we have huge hearts. I know we want to give out of abundance. You want to continue to expand your creative idea into the world? In the case of chiropractors, it might be to facilitate healing without unnecessary drugs, surgery or radiation. It might be education or enlightenment. It might be changing the health paradigm. But NONE of that can happen if you are out of business, or your business consumes every penny to make it through the end of the month. Or you don’t have enough energy to keep going.
That being said, if you really wanted the highest overhead-to-profit ratio, you would sell drugs. Low overhead, high profit margin. Of course that is unethical, immoral, and, in many cases illegal. The fact that the pharmaceutical industry gets away with this is mind-boggling. BUT, they do make a pretty penny. Consider this:
Pfizer gross profit for the twelve months ending September 30, 2023 was $41.496 BILLION, a 36.6% decline year-over-year.
Pfizer annual gross profit for 2022 was $65.986BILLION, a 30.75% increase from 2021.
Pfizer annual gross profit for 2021 was $50.467BILLION, a 52.16% increase from 2020.
Pfizer annual gross profit for 2020 was $33.167BILLION, a 0.96% increase from 2019.
That amount of profit is almost incomprehensible. Can you imagine taking a 36.6% hit in your profits and still make 41 and a half BILLION DOLLARS? You and I will never make that much money. But if you and I are profiting from our labor, experience and skill, we’ll do alright. How do you ensure a profit? Get your skills and confidence to their highest possible level right now - and keep raising the bar. Skills in what? Here’s a quick list. Rate yourself right now on a scale of (crap) to 10 (top of your field):
Personal Energy Management
Building rapport
Consultation
Examination
Diagnosis
Spinal analysis
Sales
Adjusting skills
New Client Acquisition
Retention
Reactivation
Financials
Documentation
Hiring, Firing staff
Training Staff
Continuing Education
Networking/Alliance Building
Marketing and Advertising
And that list was off the top of my head. At the Design Your Life Mission, we seek to provide late term chiropractic students and new graduates with an increase in skills and confidence. In the future, I would love to have experts from each of those fields and bring them to Mexico for a deep dive into these topics. (What are your top 3? Your bottom 3?)
The DYL Mission will handle an absolutely crucial piece of the puzzle, but it won’t stop there. I would like to expand to other countries and cultures as well, but that’s on me. For you all, if you have not registered for the upcoming DYL Mission March 24-29 in Mexico, consider signing up here today. Prices go up $200 in two weeks on March 1, 2024. We will cover hands on adjusting skills as we serve with Lasting Purpose, mindset, purpose, and help instill confidence by overcoming the obstacles to your best life. It will be structured so that we include the mental, (head) physical (hands), and spiritual (heart) aspects of being a chiropractor. We will stay at the beautiful Casa Isabella Boutique Hotel. Just get there.
If you want to have another Instagram Live or a Zoom call, let me know ASAP. If you are not on the International WhatsApp Group (sounds fancy), contact me to get you on.
I look forward to working with you, serving you and serving the people of Mexico.
Love, Dr. Danny