Earn the right to charge more

Importantly, pricing.

We're talking about pricing today.

What does pricing say about you? How should you price your business? All the different things in it.

And as always, I'm going to start with some fun story.

So there are two things that come to mind when I think pricing.

One, and this is one of the biggest mistakes I've made, is we do not increase our prices enough in chiropractic.

It wasn't long ago that when I first graduated our regular adjustment, it was $48 or $50.

And then in 14 years later, the average adjustment price is in the 70s.

That's not a large lift across a decade when everything else has gone on.

And listen, I'm the first to do this.

I last year had to do a $10 per adjustment increase.

on patience, which as you can imagine, went down like a sinking ship because it felt like a lot, right? It was about, at the end of the day, it was only about 13, 14%.

But even with the explanation, hey, I haven't increased prices in three years, huge mistake.

this is happening.

I literally had a patient, this guy is definitely on some kind of spectrum, who knows which one it was, but just literally bring out inflation data from the last five years and be like, even based on CPI inflation, this is still too much.

And then at the end of the day, we lost him as a patient and the practice has never been better for it.

But most people rolled through.

I even, and this is the hot tip, I'm getting ahead of myself.

We even did a thing because we were moving to more of a package of membership model.

It was like, hey, you can stay on the old price.

if you do this, otherwise the new price.

Do you know what we found out? A bunch of people just went, nah, I'd rather just do the new price.

I was like, sweet.

So I think a lot of the time there's fear, but the point is that the fear was probably what stopped me increasing regularly over the years.

And then I was afraid that I was going to absolutely burn the practice, but we had to do it.