What Is Your Highest Payoff Activity?
Here’s what that means.
You only have so much time in a day right?
So wouldn’t it make sense to focus as much of your
time as possible on the things that produce the
The Most Money.
I don’t know about you but most small business
Chiropractors are do-it-yourself types and get sucked
into doing the littlest silly work faster than you
can say “Oh look, the copier is jammed again.”
If you want to achieve any of your goals and
finally start making what you are worth then
you have got to stop doing $10/hr work.
As you might have guessed by now, I believe that
every Chiropractors highest payoff work or best
use of time is any amount of time spent doing
Here’s a little math quiz that I suggest you play
with to help drive home this point.
Figure out how much money you make annually or,
better yet, how much you want or need to make annually
to achieve your dreams and goals as a doctor.
Say $300,000 take home.
Now, divide that number by 2080. (That’s the
number you get if you work 40 hours a week for 52
weeks a year – I know, I know, you work 80 hours a
week but just work with me here. If you work 24,
that’s even better, but that’s another subject all together.)
The answer you get is what I call your P.A.Y. or
Personal Average Yield.
The idea here is to pin down what you are worth an
hour and realize that if you can hire someone to do any
of the things you currently spend your time on for less
than that number, you can’t afford to do it yourself –
did I mention that you could use the spare time to do
some marketing or brainstorming/masterminding with
So let’s run some numbers.
Let’s say that you want to make $300,000 per year.
Well, using our little formula that means that you need to
be doing work that is worth a little over $144/hr – 8 hours
a day. (if you work 8 hours a day, 5 days a week.)
If you want to make $300,000 per year and only work
those 24 hours, then you use the number 1248.
$300,000 divided by 1248 = $240/hour.
But guess what…we haven’t even factored in any
overhead or costs of doing business. That number
might really get big if you’ve got those as well.
This is the point at which many people finally
come to understand that they are undercharging for
their services but that is another issue and another
email all together.
So I ask you Doc…
Is fiddling with the copier, chatting with the mailman,
running to the office supply store, making deliveries, or
returning meaningless email paying you $72/hr? $240/hr?
For that matter, doesn’t mowing your own grass, washing
your own car, cleaning your own windows take you
away from marketing your business?
YES it does.
I know, now I’m asking you to give up most of the fun things
you like to do everyday but hey, if you can get the neighbor kid
to mow your grass for anything less than $100/hr, therefore giving
you 3 hours to write a killer sales letter – it’s probably a steal.
Figure out your P.A.Y. number, paint it on the wall
in your office, tattoo it on your forehead, carry it in your pocket
and then go about setting up your business in a way that allows you
to focus on the only things that can really pay that kind of money:
marketing, innovation, and customer service.
Everything else is just a cost.
PS That’s why so many doctors have me write their emails.
They are adjusting people, making money, and I’m writing their
emails for $100 bucks a month. Yeah you can slave over the
emails and use up your valuable time or let me do what I do.
Write emails, postcards, flyers, ads, killer ads, handouts, etc.
PPS If you enjoy something, it’s your time Doc. If you really
enjoy gardening, washing the car, and it’s a Saturday, then by all
means, do it. Don’t be so strict that you can’t do something you love