How I Developed 70+ Successful Associates
Hey Doc, would you like to know how I was able to develop over 70 successful associates, build ten practices and sell those practices to those wonderful, successful Associates? Well in this short video. I’m going to tell you.
So, here’s the setup years ago I was injured so badly that I couldn’t continue to practice. The only thing I ever wanted to do was be a chiropractor and now I couldn’t do that. So, I had a choice to make; either get out of Chiropractic or get into Chiropractic in a totally different way and what I chose to do was to learn how to develop associates so I could stay in Chiropractic and actually help more people as a result of me working with associates than if I had my own solo practice and today in this video, I’m going to show you the foundation for the principles that allow me to do that.
So, let’s start by doing a little bit of artwork here. So, here’s our Clinic director. Looks like a happy guy or a happy girl, and these are two associates, and these associates are just as happy as the clinic director. They’ve got large practices, they help a lot of people, their having a lot of fun they make great money, and this is a big clinic, it’s a busy clinic. It’s an energized place to be. These associates look forward to seeing their clinic director and the clinic director when he or she rounds the corner takes a look at the parking lot and sees the associate’s car big smile on the doctors face when you think about going to the clinic on Monday big smile on the doctors face.
So how do you get to that position right there? So, I know what my clients want, and I’ve heard this from a number of people today doctors that are 60, 70 ,80 ,90 percent capacity, one of the things that they want is that they want help, and they want help from an associate. That’s why they’re hiring an associate. They want help just the way they want it.
Another thing that they want, is they want freedom. Now in a busy Chiropractic practice freedom is on short supply, you know, those little kids run around your house, the ones that call you Daddy or Mommy they’re going to grow up just like that and be off to college and their separate lives and what you want to do is to make great memories that the kids will always think of as they raise their families and bring the grandkids over. So, you want some freedom in order to be able to enjoy your success and then you want to also make money. It doesn’t make sense to me that we just have one producer under one roof holding up all of the overhead on him or her so multiple doctors in a scenario like we are writing out here makes a lot more sense. There’s more money, there’s more success more than enough for everybody.
Now, this is how we put this all together, in the top Circle, we’ve got the win win paradigm. This is the this is the heart and soul of win-win associates. We’re in a win-win relationship. It’s no longer time for money. These are my goals you go to work for me, here’s your paycheck. The new win-win paradigm has doctor and associate working together in a relationship that they both enjoy, and so that’s the foundation right there and how we build that is so important but there’s more. We’ve got to make sure that we hire the right people and hire the right people the right way.
I can’t tell you how many times I have spoken to doctors who’ve learned the win-win associate system who taking a look back over their shoulder at failed associateships have told me Noel seeing what I knowing what I know now, I’m absolutely certain I ruined some very very potentially great associates.
We could have had a great relationship. So, there’s not only the right people to hire. But you have to hire them the right way, you have to do what I call bring them in the right door and you bring them in the right door to the win-win paradigm.
Now number 3 we want to Launch, and in launching the number one reason that associateships fail is because the business of the associateship fails. Let me let me tell you what I mean, I can’t tell you the number of people that tell me that you hired an associate and they paid associate 50, 60 sometimes more than that and their net income goes down by 50, 60 sometimes more than that because they don’t know what they’re doing, the associate doesn’t know what he or she is doing and the business fails to the point where the clinic director says, Hey, I’m sorry, I can’t keep you, I can’t afford you and then goes back to the old model of just being shackled to the practice and working at 70, excuse me, 80 90, sometimes 100% capacity. So, let’s take a peek at this.
What we need to do in order to be able to get the help that we’re looking for, is we need to understand how the win-win paradigm and hiring comes together if we get the win-win paradigm and we hire correctly will get the help that we’re looking for.
We all want freedom, by the way, I’m sure you love practice. I’m absolutely certain you do, you love chiropractic, but it’s also great to be able to get away from it for a while two, four, six, eight weeks. I’ve got clients that take 12 weeks every year. They love their practice, their practice breaks records every year and they get 12 weeks to enjoy the family. That’s pretty cool, but you need to be able to hire correctly and be able to launch correctly in order to get freedom. You won’t get the freedom if there’s not a launch.
Okay, now, the third is the money piece. It should be, it can be, and in the win win system it is, where you have associates coming in instead of just all the overhead landing on you. Everybody holds up the cost of the clinic but there’s more patients being taken care of. Great collections, great patient volume is more than enough for the associates and for you in that equation.
Now, here’s what I’m going to do over the next couple weeks. I’m going to outline some of the things that happen around the periphery, because each one of these three circles has three important pieces to it, but this is this is where we start. This is where we start. Right here in the middle, this is what I call the sweet spot, very, very happy clinic owner two very very happy associates. Clinic owners getting the help that he or she needs, the freedom that they want, and the extra money that they deserve the associates are enjoying the relationship because it’s a win-win paradigm. They’ve been hired correctly and they’ve been launched correctly.
This is Dr. Noel Lloyd for Five Star Management, and I know firsthand, this stuff works.