5 Biggest Mistakes Made by Group Practice Owners | Bonus Episode

5 Biggest Mistakes Made by Group Practice Owners | Bonus Episode

Are you a group practice owner that wants to learn some tips on how to expand? What are some of the common mistakes that group practice owners make? How can you fix them and re-direct your group practice towards a more successful path?

In this podcast episode takeover, Alison Pidgeon and Whitney Owens speak about 5 common mistakes that group practice owners make.

Meet Whitney Owens

Whitney OwensWhitney Owens is a Licensed Professional Counselor and Private Practice Consultant. She lives in Savannah, Georgia, where she owns a group private practice, Water’s Edge Counseling.

In addition to running her practice, she offers individual and group consulting through Practice of the Practice. Whitney places a special emphasis on helping clinicians start and grow faith-based practices. Whitney has spoken at the Licensed Professional Counselors Association of Georgia’s annual convention and at Killin’ It Camp. Whitney is a wife and mother of two beautiful girls.

This entrepreneur went from a private practice owner to being a consultant. Providing fellow clinicians the tools they need to run a successful practice.

Visit Whitney’s website, connect with her on Facebook, listen to her podcast, or consult with Whitney. Email Whitney at whitney@practiceofthepractice.com

Meet Alison Pidgeon

Alison Pidgeon | Grow A Group Practice PodcastAlison Pidgeon, LPC is the owner of Move Forward Counseling, a group practice in Lancaster, PA and she runs a virtual assistant company, Move Forward Virtual Assistants.

Alison has been working with Practice of the Practice since 2016 and has helped over 70 therapist entrepreneurs start and grow their businesses, through mastermind groups and individual consulting.

She is also a business consultant for Practice of the Practice. What started out as a solo private practice in early 2015 quickly grew into a group practice and has been expanding ever since.

Visit Alison’s website, listen to her podcast, or consult with Alison. Email Alison at alison@practiceofthepractice.com

In This Podcast

Summary

  1. Spending too much time doing and not delegating enough
  2. Being unaware of the numbers
  3. Not writing down mission, vision, and values
  4. Practice owners who do not have a good hiring process
  5. Not acting like the CEO

1. Spending too much time doing and not delegating enough

As the group practice owner, delegating tasks is a vital function to perform. Without delegating, you may run the risk of bottlenecking the growth of your practice because you only have a finite amount of time on your hands. By not delegating tasks, it becomes unrealistic and nearly impossible for you to encourage the growth of your practice.

Delegating tasks that are not imperative for you to do can greatly assist growth because you can scale back on the amount of time that you are working and focus your energy on more important tasks, you can see more clients and therefore make more money.

When you delegate and hire an assistant, do it before you actually need the extra assistance because usually by that time you are already near a potential burn out from having worked hard.

Hiring assistants before you really start needing them, and training them up, will greatly assist you when you start hiring clinicians because your assistant will be settled in and ready to help them with the basic tasks and setup processes.

2. Being unaware of the numbers

Finances

Some practice owners do not properly monitor the flow of their income and expenses by keeping track of a profit or loss statement. These are important numbers to know when you are making business decisions because you cannot make important calls about the practice in a vacuum, as this can very quickly land you in hot water.

Data

Have a finger on the pulse as to what is happening within the practice to catch any problems early on if necessary. This data can mean keeping track of referrals, levels of client retention and conversion rates, clients that owe the practice money, or statements that need to be sent out.

3. Not writing down mission vision and values

It’s such a great filter for helping me make business decisions. As entrepreneurs, we can get distracted by so many opportunities that come up. So if it wasn’t something that was in your original ‘mission, vision and values’ then that’s probably a good indication that it’s a distraction and you need to get back to what your original intent was.

Mission

What you stand for as a business

Vision

The vision you have for your practice in the future. What do you want to be known for in 5-10 years?

Values

Very similar to your personal values

4. Practice owners who do not have a good hiring process

There is a lot that runs on the services that the clinicians are providing – they also represent your practice and your business. It is important to know which values you aspire to have in your group practice and seek those out in potential clinicians. As much as there is niche marketing for the practice, there is also niche marketing for hiring staff.

Your happiness as the boss depends on how you feel your new clinicians are doing and settling into the practice. Whitney recommends that potential clinicians take an enneagram test so that you can better understand them yourself. Since you will be working closely together with the success of the group practice at the center, it is important to get along well with your clinicians to foster that successful environment.

5. Not acting like the CEO

Once you have started delegating, you free up your energy and focus to work on the group practice itself. You are then able to sit and think about where you want your group practice to be in the future and you are then able to lay out a plan of action and set goals for your practice to achieve.

Figuring out the goals and setting out a general timeline will allow you to remain focused as the CEO for where your group practice is heading. To grow and run a successful business, you need to have your CEO hat on.

Group Practice Boss – sign up on Oct 6 & 7th for a discounted rate of $129 per month then open for a further two weeks at $149 per month

Useful Links:

Meet Joe Sanok

private practice consultant

Joe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners that are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.

Thanks For Listening!

Feel free to leave a comment below or share this podcast on social media by clicking on one of the social media links below! Alternatively, leave a review on iTunes and subscribe!

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.