Ep. 15: Carrying the Weight of Ownership

SUMMARY

In this conversation, Dr. Duncan along with her executive assistant, Kelsey, discusses the challenges and responsibilities of practice ownership. Dr. Duncan talks about carrying the weight of a clinic, including the financial and personal sacrifices that come with it. Dr. Duncan discusses the balance between providing care and managing the business side of the clinic, as well as the importance of managing stress as a business owner. Overall, the conversation highlights the unique challenges and rewards of practice ownership.

Also in this episode, Dr. Duncan discusses stress, anxiety, and burnout in the context of owning and managing a chiropractic clinic. She emphasizes the importance of acknowledging and dealing with stress and anxiety, as well as taking personal responsibility for one's mental health. She talks about strategies for managing stress and highlights the role of leaders in managing their own stress to set a positive example for their team. Dr. Duncan also discusses the challenges and responsibilities of being a business owner and offer advice for chiropractors considering opening their own practice.

If you want to learn more about ways to elevate the experience in your chiropractic office, you can take Dr. Duncan’s inaugural online course Owning A Chiropractic Practice: Things Chiropractic School & Management Groups Do Not Teach You.

TAKEAWAYS

• Practice ownership comes with a unique set of challenges and responsibilities.
• Owning a chiropractic clinic means carrying the weight of the business and being responsible for the livelihood of employees.
• Managing the balance between providing care and managing the business side of the clinic requires focus and delegation. Owning a clinic is a marathon, not a race. Success = survival over a sustained period.
• Being a business owner involves personal sacrifices and emotional investment.
• Stress management is crucial for business owners, and it's important to find effective ways to deal with stress. You can't run away from stress and anxiety … it will follow you. Stress and anxiety are a part of life, and it's important to find ways to deal with them.
• Burnout is not an option for business owners, as they do not get the luxury to “burnout”. On the flip side, it is important to keep an eye out for burnout in employees, especially associate chiropractors. Remember: W-2 employees did not sign up to own a chiropractic clinic or deal with the responsibilities that come with practice ownership.
• Opening and managing a chiropractic clinic requires dedication, sacrifice, and a long-term perspective, but it can be rewarding and offer unlimited growth potential.

Ready to take your business or chiropractic practice to the next level? Enroll in our online course or apply for one-on-one coaching with Dr. Duncan!

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