Every physical therapy practice owner has most likely been lead to this point in their career by a burning passion to own their own practice because it is part of their vision to treat patients in the manner in which they agree with professionally. Unfortunately, not all practice owners I’ve met can say that. Some owners went into private practice because of an offer they couldn’t refuse. Others sought to make more money. Or, they opened a clinic because they were darn good therapists and got talked into opening a clinic, or they went in with a partner who they felt complimented what they brought to the table.
Whatever that spark was that triggered the next step in your professional career toward ownership, it doesn’t really matter since you are now trying to figure it all out to be successful in private practice. Listen for the second in our series on ownership and leadership and how to win at both.
KEY TAKEAWAYS
- Successful ownership takes the following characteristics: vision with creativity, discipline with independence, courage with confidence.
- Good owners are not to be seeking to be popular. They are looking to be better than the others they have seen. They take pride in leading and creating something out of nothing. This takes self-confidence and courage to believe in their vision and disciplined to follow the path that you set for yourself.
- Every great owner will know their own strengths and weaknesses.
- Build your team that compliments your weaknesses.
- The definition of ownership is to take responsibility for, to possess, and to own something.
Resources to Check out
Brian Gallagher, PT is the founder and CEO of MEG Business Management, LLC. He has more than 27 years of experience in the field of rehabilitation and 19 years in business and specializes in Physical Therapy practice management and executive coaching nationwide. As a licensed business management consultant, Brian has helped hundreds of business owners nationwide improve their business operations through proper restructuring to achieve improved systems of efficiency and productivity as well as marketing and sales with effective public relations which have proven results for double-digit growth year-over-year with businesses around the country.
