Do you ever feel like your practice is capable of so much more and you’re being held back from your true potential? If so, you’re not alone. Many practice owners struggle with the inability to get over the hump keeping them stuck.
Stacey used to feel this way. When it came to her pediatric practice, she had lots of fears and worries. The biggest fear she had was financial uncertainty. Running a pediatric practice can be costly, and practice owners may worry about not having enough revenue to cover expenses or not being able to maintain financial stability in the long term. This can lead to anxiety and stress.
Stacy began taking on debt in an attempt to hire therapists and boost revenue. As she brought on more therapists her revenue remained stagnant. In fact, in one of her offices, her revenue actually decreased.
Three months after her hiring frenzy and realizing her financial problem was not going away, Stacey had an epiphany. She realized that she may have been too reactive in her thinking and decision-making. She thought her mindset might be the problem. So, she decided to shift her perspective and adopt a more productive, results-focused, and abundance-focused mindset. And guess what? It worked!
Stacey began seeking out advice and information from other practice owners, attending workshops, and even hired a business coach. By doing so, she immediately saw how her mindset was causing her to make one poor decision after another. Fortunately, her mindset began to shift.
With the help of others, Stacey shifted her mindset to be more results-focused, setting clear goals for each project and prioritizing actions that would benefit her patients, staff and business. This approach helped her maximize her profits and deliver excellent customer experiences.
Stacey began to overcome her fear that staff would leave if she told them what she expected from them. The opposite happened. Her staff appreciated the clarity and felt more comfortable knowing what was expected of them.
Productivity increased and money followed. Financial uncertainty disappeared and her mindset around money significantly improved. Not too long after, Stacey began paying down her debt and growing her practice well beyond what she thought was possible.
Here are some practical tips that you can use to shift your own mindset and achieve so much more than what you think is possible:
- 1. Reflect on your current mindset. Are there any negative patterns or beliefs that are holding you back? Do you feel anxious about certain topics or people in your practice? Why do you think that is?
- 2. Seek out advice from others. Don’t be afraid to ask for help or collaborate with other practice owners or business coaches.
- 3. Stay focused on your goals: Keep your long-term goals in mind and let them guide your financial decisions. This can help you prioritize expenses and investments and avoid getting sidetracked by short-term challenges.
- 4. Embrace risk-taking: Taking calculated risks can help your practice grow and thrive. Don’t be afraid to try new things or invest in your practice, even if it feels uncomfortable at first. Just be sure to weigh the potential risks and benefits before making any decisions.
- 5. Practice positive thinking: Train your mind to think positively about your practice’s financial future. Instead of dwelling on worst-case scenarios, focus on positive outcomes and opportunities. This can help you approach financial decisions with a more optimistic and proactive mindset.
Are you ready for a coach? Join the hundreds of physical therapy owners who are building the practice of their dreams with the support, guidance and direction of a Practice Freedom U Coach. Take the first step towards creating a business that sets you free by scheduling a Discovery Call HERE