Time vs. Money
Posted on 7/29/2011 by Alan Rousso
Categories: Personal Growth Coaching Distinctions Business Views

Most of you are aware that there is a relationship between time and money. If you are a new practitioner, you probably have more time than money, so it makes sense to invest your time rather than your money. Advertising, telemarketing, or get new patient quick schemes all want the little amount of money you now have and while some of these do, in fact work, often times, it's a bust! (If you've been a fan of the articles posted, you understand!)  It just makes more sense to spend your time focused on improving your communication skills, learning how to lecture, while focusing on your opening and your closing for your talks and screenings and developing skills for both social and one and one networking!

Once we begin to ascend the ladder of success, a strange shift beings to happen.  All of a sudden, time is much more precious than money. If you are currently new in practice you probably can't imagine this yet, while the more experienced practitioner would love to have more personal time to spend with family and friends while maintaining the income they have grown accustomed to earning.

This relationship between time and money is very well known to most practitioners and people in the general public. What is NOT well known is a completely different relationship between time and money which is where we will focus our attention for this article!

Ask yourself this question, "How many people per hour can I see?"  Why is this important? If you are newer in practice, you may spend somewhere between 10-15 minutes with a patient.  This is not a problem if your fees are high enough for you to earn a fair return! However, most practitioners are not aware of the relationship between time and money and just want to do a great job getting sick people well.  Here's a typical example:  A practitioner charges $40 for an adjustment. You can see 4-6 people per hour. Therefore, you are earning somewhere between 160-240 an hour.  After expenses, taxes, etc., what's left for you? The answer is "not much!"

There is a better answer! You have choices! You can raise your fees to better match the amount of time you choose to spend with a patient, or, you can speed up to see more people in less time! If you simply cut your time from 10 minutes with a patient which would be equal to 6 an hour (earning you $240 per hour), by focusing on doing what needs to be done in 8 minutes or less, you are now earning over $300 per hour! Do you think this would make a difference in your bottom line? You bet!

What should you really be earning per hour? That is a personal question that each of you must decide for yourselves, however, a general guideline is no less than $400 per hour and many earn far more than that!  I remember telling my coach that I was booked and was charging a very low fee! I had 12 patients over three hours. That's 4 people per hour, every 15 minutes using a 1 column appointment book and I looked booked! My coach said to me, "Alan, I see 12 people in a 1/2 hour!" At that time, I simply couldn't accept this and blurted out, "Mine is quality care, not quantity care!", and he said, "If my care wasn't quality care, why would 24 people per hour come in to my facility?" I HUNG UP THE PHONE!  I wasn't ready to have my comfort zones challenged, nor my concepts of what I believed to be "right" yet, over time; I realized that unless my time or money concepts changed, I would soon be out of practice! After all, my family wanted stupid things like food, shelter and clothing!

When you go into your office on Monday, count the number of people you see in your appointment book. Then ask yourself this question, "Can I see one more person in the same time period?" Once you've accomplished this, ask the question again until you reach a level that is more in line with your self-image and prosperity consciousness!

A simple shift in your concept and vision regarding time vs. money can easily help your practice be more profitable, with little to no expense, yet produce dramatic results. You will see more people, render more service and therefore, have more rewards return your way ... and you deserve it!

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