If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask the founders of a successful chiropractic practice franchise how to transition to a new industry.
In this edition of "Ask the Board," we feature Drs. Jason and Vanessa Helfrich, former restaurateurs and Co-Founders of 100% Chiropractic, a national healthcare franchise with over 125 locations that is exceeding national averages in both patient numbers and income. The couple shared their tips on how you can successfully transition to a new industry as an entrepreneur.
Moving industries as a business owner can seem intimidating, but it's a great way to expand your entrepreneurial horizons and rediscover your purpose. I know this firsthand, as my wife, Dr. Vanessa Helfrich and I transitioned from restaurant ownership to founding 100% Chiropractic.
We sold our belongings and relocated from Denver to Iowa to start anew in chiropractic school, driven by a desire for a more fulfilling career. Although these industries seem vastly different, the core business principles are universally applicable.
Here are my tips for entrepreneurs who are ready to pivot.
Recognize the need for change
Regularly assess your professional and personal fulfillment. If your industry no longer excites you or aligns with your goals, it may be time to consider a new path.
After years in the restaurant industry focused on hospitality and operations, we realized that restaurant ownership no longer aligned with our vision for the future, especially as new parents.
Vanessa's family has deep roots in chiropractic care, which fueled our idea. Could we create a purpose-driven healthcare business that offers a better quality of life for both us and our patients?
Switching industries means stepping out of your comfort zone. Stay open to learning from industry experts, keep up with trends, and be ready to adapt your business model.
Drs. Jason and Vanessa Helfrich, Co-Founders of 100% Chiropractic
Leverage transferable knowledge
Switching industries doesn't mean starting from scratch. Key business principles, such as delivering an exceptional customer experience, are essential in every sector. The skills you've honed in your previous industry can be highly transferable when you adapt them to your new business.
For instance, the sensory engagement techniques we used in restaurants helped us enhance the customer experience at 100% Chiropractic. While each sector has its nuances, some strategies remain consistent, such as:
- Create a cohesive brand experience. Ensure your brand is unified across all customer touchpoints to build loyalty and trust.
- Embrace strategic partnerships. Collaborate with industry experts to accelerate your learning curve and growth.
- Diversify your offerings. Look for additional services that can enhance your business model.
Stay purpose-driven and patient
Building a business takes time — almost 20 years in our case — but luckily, a clear sense of purpose kept us going. Challenges like scaling the business and navigating the pandemic were daunting, but our mantra kept us grounded: "Tough times build tough people."
Entrepreneurs often expect quick results, but true success comes from persistence and a long-term commitment. It was a sacrifice, but seeing our franchisees thrive makes it all worth it.
If you're thinking of making the leap, don't chase instant success. It is necessary to embrace each challenge as a learning opportunity and enjoy the journey.
Learn continuously
Switching industries means stepping out of your comfort zone. Stay open to learning from industry experts, keep up with trends, and be ready to adapt your business model.
Success is about evolving with your industry while staying grounded in core business fundamentals. Transitioning to a new industry isn't easy, but with the right mindset, it is far from impossible. By leveraging previous knowledge and focusing on the big picture, you can successfully navigate the shift and build a thriving business in any sector.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
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