PT Private practice startup

Episode 86: Is Now the Time to Open a Private Practice?

If you’re wondering when you should open your first practice, the answer is now. Now is the best time. Why? Well, the fourth quarter is a great time to get the ball rolling because quarter 2 is when most areas around the nation have the greatest upswing. Plus, when you have the mindset to jump in, just go for it. Your purpose and your value is measured by your ability to follow-through. Keep those promises to yourself. This week, we’re talking about what it takes to set your self up for success and how to create on the vision you have for your own private practice. 

KEY TAKEAWAYS

  • It takes about 90 days to get your practice opened – 95% of the startups that we work with break even in the first 90 days.
  • Without the proper mindset you will get stuck in the doingness, but you need to have confidence in yourself.
  • The biggest challenge is executing the vision you have with the people you hire – know what to look for and how to start off with clear policies and procedures is critical to success.
  • Open up your practice with the right tools – there is no reason for you needing to search for what you need when you can open up with all the information in your hands.
  • The number one challenge in business is managing personnel – learn the power of acknowledgement and validation. 
  • Effective Communication is not just getting your thoughts out as much as it is bringing about total understanding through listening and duplicating.
  • Know the expectations of others, setting the statistics that measure the expectations and how to measure them each week. Everyone wants to know where they stand.
  • Find a mentor to help you – the best professional athletes all have coaches to help them be successful.

 

Worth Checking Out

 

For more information on this topic or anything else, contact us to set up a time for us to talk about what’s on your mind.  Getting some answers to your questions can have an immediate effect on what you can do right now to improve your quality of life in private practice. Because we pull from all three of our divisions: MEG Billing Solutions, MEG Remote Management Services, and MEG Academy – we have the depth of knowledge and experience to help you customize a solution that will meet your individualized needs.

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