Growing a private practice locates you squarely in the entrepreneurial world.
You go from being a therapist to being an entrepreneur with a specialty in therapy.
This may sound like a small shift. It isn’t. It’s an enormous identity transformation.
Being an entrepreneur puts you in direct contact with reality in a way that’s very different from being an employee or a contractor in someone else’s venture.
One of the big reasons many people never set out on their own to build their own practice is the fear of failure.
Failure is a concept rooted in a non-entrepreneurial perspective on the world.
If entrepreneurs feared failure or beat themselves up after a given failure, they’d never get very far. Because “failure” is part and parcel of the entrepreneurial adventure.
Actually, to go back to the quote that I started with here: failure has nothing to do with it.
Instead of failure, reframe your trips and falls as learning and watch what happens.
You’ve likely heard of the metaphor of a “fish in water.” The fish doesn’t realize water is there because the water is its entire reality. Water is all the fish has ever known.
And so, the fish is unconscious of this phenomenon of “water.”
Now, the next leap your mind probably wants to make is to draw a parallel here.
“Fish is to water” as “A human being is to…” ??
What should go next?
I’ve had this conversation with practice owners probably five hundred times.
Things aren’t working.
Me: “Okay, where were you this time last year?”
Them: “I don’t know.”
Me: “Go check. It’ll be worth it.”
As our clients succeed and their practices take off, we often hear the question: “Now what?”
For many successful solo practice owners, the most obvious next step is to bring in additional practitioners and start building a group practice.
Now, this isn’t the right step for everyone.
The simplicity of having a solo practice that’s full and successful is quite wonderful. Doing well financially while helping a full slate of clients improve their lives can be unbelievably fulfilling for many practitioners.
However, there are some who crave additional growth, more income, more impact. And for them, a group practice is a logical next step.
Before you rush out to start adding practitioners (and all the attendant expenses that come with more staff), make sure you’re ready by confirming that you have completed the following three steps.
We’ve all been stuck in a conversation at a dinner party or cocktail hour and found ourselves desperately wanting to escape from our conversation mate.
They drone on and on (and on) about themselves with no end in sight.
We try to get a word in somewhere, anywhere…but at the first sign of our intent to guide the conversation away from the person in question, they quickly seize control and return to talking about themselves.
When this happens in conversation, we get bored, we get frustrated, we might even get angry. And, as soon as we can, we run in the opposite direction.
If self-focus is such an obviously bad strategy in conversation, why does that same strategy become the primary marketing approach most therapists and other wellness practitioners use in their marketing?
It gnaws at you.
That itchy feeling that you’re slowly drowning.
Racing in place just to keep from falling behind.
It’s over there in the corner glaring at you.
But looking at it is the last thing you want to do.
Some days, you just keep your hands over your eyes so you don’t look.
Other days, you wear a blindfold to guarantee you won’t accidentally take a peek.
You are genuinely scared of seeing the stark reality of your practice’s finances.
Stop looking away.
This morning, I was speaking with a successful student of ours. He recounted his experience around the middle of March.
When the COVID-19 crisis hit, he prepared for, in his words, “catastrophic contraction” in his practice.
He lowered his expectations.
Tightened his financial belt.
So, what happened?
Did the catastrophic contraction he expected come to pass?
Did grad school anti-prepare you for practice ownership?
You aren’t alone.
Take this 8-question quiz to find out how prepared you are to wear the hat of “successful entrepreneur” for your private practice.
A comprehensive, focused plan.
That’s what you need if you want to succeed in growing your private practice – regardless of the headwinds standing in your way.
Discover what a comprehensive, focused plan can do for your clients and your practice.
In March 2020, normal became abnormal.
Going out to eat, attending a packed concert, seeing therapy clients in person – all vanished within a couple quick weeks.
The tragedy is already extensive. And it’s still building to a more painful crescendo.
We will live this story together and find our way through to the other side.
The process of this pandemic will change things. We’re not yet sure what, or how. But many things will never return to the way things were.