Building a 7-Figure Chiropractic Practice

Mindset and Personal Growth

• A "10-year overnight success" is the norm. Building a seven-figure practice is not a quick process. It requires years of hard work, discipline, and a "go-getter" mentality, especially in the first 10 years.
• Reframe adversity as fuel. Dr. Reed's experiences of repeating the first grade and a career-threatening ACL injury served as "moments of impact" that he used to "learn from 'em, lean into 'em, and leverage 'em" to become a better person. Rejection and failure can be powerful motivators to achieve great things.
• Stay hungry and avoid complacency. Many chiropractors become "stuck and complacent" once they reach a comfortable level of income. Successful practitioners maintain a constant hunger to serve more people and grow, rather than pulling back and "coasting" when things are going well.
• Self-leadership is the foundation of practice leadership. A leader must first be able to lead themselves by being disciplined, working on their mindset, and prioritizing their own health and personal development. This personal example creates a culture that inspires the team to get behind the vision.
• "The lowest heart rate in the room wins." When conflicts arise, it is crucial to communicate non-emotionally. Dr. Reed learned to take a breath and lower his heart rate before responding, which helps him make and communicate better decisions.

Business and Scaling Strategies

• Build the machine before you pull back. Scaling a business is hard work, but once you establish the right systems and processes, the business can run more easily. Dr. Reed's "machine" took 10 years to build, and it required showing up early and staying late.
• Understand and track your numbers. Most chiropractors are "terrible with numbers" and fail to monitor key metrics. To scale, you must understand your new patients, conversion rate, weekly visits, collection per visit, and cost per acquisition.
• Delegate early and often. A major mistake is being a "control freak" and not delegating tasks. Dr. Reed's biggest regret was not delegating sooner, which he believes would have fast-tracked his growth. A good rule of thumb is that 80% done by someone else is "100% awesome."
• Market with "base hits." Modern marketing for a chiropractic business requires a multi-faceted approach, with a presence on platforms like Instagram and Facebook, as well as internal and external events. Instead of looking for a single "killer ad" that brings in a hundred patients, focus on consistently getting "base hits" to bring people in the door.
• Leverage coaching to accelerate growth. Having a mentor or coach can help you avoid mistakes and shorten your learning curve. Dr. Reed has had mentors throughout his entire career, and he believes a coach can help you get past obstacles in "weeks versus years, or never."