One of the keys to growing your practice successfully is to fail small and succeed big.
Let's assume for a moment that you want to change your practice by increasing billing, increasing profitability, increasing number of patients or maybe decreasing number of hours you work or any other part of your practice that you would like to change.
If there is nothing you want to change, then just continue doing more of the same and the results should stay the same until something internal or external makes them change.
The principle is a simple one. If you are unhappy with the results then you need to change the effort otherwise you will continue to get more of the same results.
After you've decided what you want more or less of you will have to develop a plan to redirect the efforts. No plan, no changed efforts, no changed results.
The first mistake we make is hoping and praying that things will change on their own. Many times they do, but more often than not it's for the worse.
Let's for a moment assume that you realize that only a change in effort will result in a change in results.
Here's where fail small … succeed big comes into play.
Unless you are 100% guaranteed as to the results of the new effort (example: a Metro Marketing new patient acquisition program is 100% guaranteed), then you need to make small changes first. If they work, roll out big time. If they fail, you haven't sunk the entire ship in the process.
Simple, you say. Common sense you say. Yet not often done. Let me give you a few examples.
You want to do a direct mail postcard to your community of 10,000 homes. Mailing out 500 or 1,000 first that fail to generate a single response will be a lot less costly than going for the whole 10,000 on the first mailing.
Don't be swayed by the ‘cost per mailed piece' logic. Yes, each piece will cost more, but the total failed project will cost you $500 vs. $5,000. And if the small mailing is successful then you roll out with the remaining 9,000 to 9,500 packages.
It may take a few weeks longer to do a test first but if your ‘can't miss' postcard bombs you've saved yourself $4,500 in the process.
Yellow Page ads: This year test a small single color ad before you commit to a half-page, two-color version. Again, if the smaller version works, step it up in year two and each year thereafter.
Newspaper ads, magazine ads, radio spots, billboards, premiums. The list of ways for you to spend your money is endless.
If you have $10,000 to invest in your practice for marketing, you are better off testing 4 or 5 different ideas rather than laying the whole amount down on one idea. Unless, again, that idea is 100% guaranteed (see more information on Metro's programs for a 100% guarantee).
The idea of testing small carries over to all parts of your practice as well.
Any changes you want to make in your price and fee structure – test small first. It is better to alienate a few of your patients than the entire database in case your fee increase proposal turns out to be a disaster.
Letters you want to mail to patients, for whatever reason – see if 100 generate the response you are looking for before you mail out 10,000 letters.
Any policy, any procedure, any program that you are thinking of changing should be tested small first and rolled out later only if the test has worked.
And forget the focus groups. A focus group is getting a group of people together and asking them what they think about a particular product, service, policy or procedure.
People vote with their pocketbook and their feet.
In a focus group you could get one opinion but when you do it in the real world the results could be very, very different.
Trust no one's opinion. Test small in the real world and you will find out what you need to know.
In summary: Point 1 – If you are unhappy with the results, then you need to change the effort or else you will be getting more of the same. This is true of anything in your life, not just your chiropractic practice.
Point 2 – If you decide to make a change in anything you do, then the prudent way to go is to test small. This way you get to fail small and roll out big. Trying 10 new ideas at $500 each will bring you far better results than trying one spin of the wheel for a $10,000 all or nothing bet.
Point 3 – Metro Marketing's can't fail, can't miss 100% guaranteed new patient acquisition program is one exception but I think you already know that. Good luck. Test small every time. |