Do you want to create predictable success in your business? Have you created your visionary and processing team to support you? Why should you invest in the “fun” stage of your new business to help it grow successfully?
In this podcast episode, Joe Sanok speaks about creating predictable success in private practice with Les McKeown.
- What does predictable success look like?
- How to create predictable success
- Create your team
- Sustaining and optimizing the “fun” stage of business
What does predictable success look like?
The difference between fun and predictable success is essentially one word; scale. The ability to scale. (Les McKeown)
Scaling simply means being able to grow to whatever size your industry will allow in the demographic that you want to operate within.
You can still have predictable success with fun in business, however, you grow more slowly with fun and you grow exponentially with scaling.
Be strategic with scaling. There is no blueprint because you make scaling work for you and what your business needs. What works for someone else may not work for you.
How to create predictable success
First, ask yourself:
- Is the current business profitable?
- If you extracted yourself from the business itself, would it remain profitable?
When you first started your business, it probably grew more organically.
Now that you have worked out some of the kinks, and you know more of what to do that worked well, can you replicate that in another location?
You pieced it together a bit at a time. Now you’ve got a blueprint and you can see [that] this thing works, [can] you go and clinically reproduce this thing over there? (Les McKeown)
Once you have replicated your business, you will no longer be doing clinical work yourself. Now, your work will shift to running these businesses as you become more of a practice owner than a therapist.
Create your team
If you want to get to the next stage, what you now need to do is develop a senior leadership team. You cannot any longer do that by yourself. (Les McKeown)
You need to develop your mindset from business owner to leader as your practice grows.
There is a team for marketing, a team for client relations, a team for clinical work, and a team for admin.
Now, you need to create a team of people that you can trust and who share your vision to support the entire business alongside you.
Sustaining and optimizing the “fun” stage of business
You can sustain the powerful growth of the “fun” stage of business by outsourcing as many processes as possible in the beginning. Do not try to structure it too much, because “fun” is an important part of helping a new business launch and do well.
Make sure you are on the right side of legal and safety regulations, that’s about all (at a minimum).
Too much process too early slows the growth of any organization, and optimizing is about getting the balance of that absolutely perfect [or close to it]. (Les McKeown)
Read your cash flow and optimize the return that is present, but you do not have to become too stingy. Earn well and be generous.
Books mentioned in this episode:
Useful Links mentioned in this episode:
- You can get 10% off Magnesium Breakthrough at magbreakthrough.com/practice. Be sure to use practice10 for 10% off.
- Visit Predictable Success and connect with them on Facebook, Instagram, Twitter, Youtube, and LinkedIn.
- FREEBIE: Read a free extract from Les’s bestseller “Predictable Success: Getting Your Organization On the Growth Track – and Keeping It There“
- Free Practice Growth Resources: pillarsofpractice.com
- Check out Podcast Launch School
Check out these additional resources:
- 5 Keys to Growing Your Heart-Centred Group Practice with Ashley Mielke | PoP 725
- Apply to work together
- Events – click on the event’s dropdown
- Sign up to join the free webinars and events here
- Podcast Launch School
- Practice of the Practice Podcast Network
- Free resources to help you start, grow, and scale
- Apply to work with us — a decision-making matrix for your next steps
Meet Joe Sanok
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.
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