How do you know when your practice is successful?

by | Mindset Reset

HOW DO YOU KNOW YOU HAVE A SUCCESSFUL PRIVATE PRACTICE….?

Is it that point where you have a waiting list of clients….?

Is it that point where you start to turnover $500K or even 7-figures annually in your practice…?

Is it that point where you have the largest practice in your geographical location whether you measure that size in term of consulting rooms or team members….?

Is it that point where you open your 2nd or 3rd location….?

Is it that point where you are absolutely dominating social media and everybody is ooooing and aaaaing about your fabulously inspirational posts…?

Is it that point where you actually no longer have to work in your practice, whilst still being able to pay yourself your full-time wage..?

WHEN THE HELL IS IT…?!

Interesting question indeed….

Thing is, the point of success will be different for each of us.

And then there are some of us – present company included – that will continue to shift the ‘success goal posts’ to the extent that it is never fully reached.

* …. random song lyric just popped into my mind… There’s always gonna be another mountain…I’m always gonna wanna make it move… thanks Miley…. *

Whichever way your cookie crumbles, the biggest pitfall is basing your business success on just one metric.

And no, I’m not saying don’t celebrate the individual wins or successes – you most certainly need to do that…

But….

As a business owner, as an Impact-Entrepreneur, with a vision of creating change and impact, you need to consider your overall performance.

Being fabulous at marketing and getting clients streaming in, is freaking awesome, but that alone doesn’t make you a successful practice.

Being great at retaining team with people sticking around for long periods of time, is freaking amazing, but that alone doesn’t make you a successful practice.

Having a healthy practice bank account and easy cashflow, is freaking superb, but that alone doesn’t make you a successful practice.

Having the most beautifully decorated and fitted out practice, is freaking glorious, but that alone doesn’t make you a successful practice.

And of course, I can go on and on giving you examples such as these…..

So what is the answer to my original question…?

Well that is up to you… (annoying answer I know).

But let me help you out a bit more here….

First, I would suggest you journal on the following questions:

  1. What does being successful really mean to YOU?
  2. What will your life be like when you are successful?
  3. What will your day, your week, your month be like when you are your version of being successful?

These questions are really important in order to give you the clarity of what success is for you and in order for you to know when you get there – so you can celebrate it, of course!

With regards to what a successful private practice entails, I definitely recommend looking across various markers, instead of just one or two.

A successful business needs to flourish across a range of business functions, including marketing, sales, operations, finance, human resources and customer service.

Having ‘success’ across most of these functions will ensure ongoing overall success, should one function fall down for any unexpected reason.

So the message is this….

  1. Don’t fool yourself into thinking you’ve got it made, just because you have success in one or two areas of your business and I’m not trying to be nasty here or to make you feel bad. I’m saying it, as your private practice IS a business and this is how business works and I want you to succeed.
  2. Identify where you are successful, celebrate it and ensure you have the systems and processes in place in order for that to continue.
  3. Identify where you have been lagging behind and make that your focus for the next 3 to 6 months.

I know you can get there.

Deep down inside, I know you know you can get there.

All you need to do is make it happen.

Yours in Private Practice Success,

Gerda

P.S – Are you READY to step-up and take things to the next level in your practice?

I can help you make it happen.

Send in an Academy Application, here: https://gerdamuller.com.au/the-academy-application

Here’s to building a private practice you CAN’T STOP smiling about!

 

xxx

Yours in Private Practice Success,

Gerda 

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ABOUT THE AUTHOR

Gerda Muller is a Clinical Psychologist, Published Author, the founder of Private Practice Success Australia, The Psych Professionals and Source Heath and co-founder of Halo Practice Management.

It is Gerda’s belief that each and every person has the right to access quality psychological services and she has made it her life’s mission to make that happen.

First, through The Psych Professionals; second, via Source Health; and third, by empowering as many practice owners as she can with her hard-earned knowledge and experience to ensure it happens now, rather than decades from now, via Private Practice Succuess Australia.

Gerda knows that the more practice owners she can help to build their ULTIMATE PRIVATE PRACTICE, the more she is achieving her life’s mission – now, ain’t that cool!

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