Finding a balance between treating patients and fulfilling leadership responsibilities is crucial for practice owners.
Recognizing that they are business owners first and therapists second is essential for practice owners to focus on the growth and success of their business.
Seeking coaching or consulting can lead to significant improvements in the business, allowing practice owners to achieve greater profits and freedom.
Deep dives
The importance of balancing treating and leadership responsibilities
It is crucial for practice owners to find a balance between treating patients and fulfilling their leadership responsibilities. By reducing treating hours and taking on more leadership roles, owners can provide the guidance and direction that their team needs.
The need for a mindset shift from therapist to leader
Many practice owners struggle with transitioning from a therapist mindset to that of a business leader. Recognizing that they are business owners first and therapists second is essential in taking control of their schedule and focusing on the growth and success of the business.
The significance of coaching and consulting
Seeking coaching or consulting can be a transformative step for practice owners. Working with a mentor who can guide them in developing systems, setting goals, and implementing effective strategies can lead to significant improvements in the business, allowing owners to achieve greater profits and freedom.
The importance of clear goals and uncomfortable goal-setting
Setting clear goals and pushing beyond comfort zones is crucial for practice owners to make progress. By determining specific and challenging goals, owners can focus their efforts, drive growth, and achieve greater success.
The role of training and coaching in developing a proactive team
Owners need to develop their coaching skills and train their team members to take on more responsibility and be proactive in their roles. By establishing clear expectations, providing training, and recognizing and rewarding their team's efforts, owners can cultivate a high-performing team that supports the growth and success of the practice.
Being a physical therapist to owning your own practice requires a huge mindset shift. You are no longer a PT; you are a business owner who happens to also be a physical therapist. When you are not clear on these boundaries, it can be so easy to chain yourself within the business and burn out. In this episode of the Physical Therapy Owners Club, our very own Nathan Shields sits opposite Neil Trickett of Practice Promotions as a guest on the Practice Marketing Power Hour podcast. He discusses with Neil what it takes to achieve Profit and Freedom in your PT practice. From his personal experience, Nathan talks about his journey—from stepping away from direct patient care to achieving greater success and fulfillment in his business. That progression requires a mindset shift for every business owner and, when shifted, opens up opportunities to experience greater profits and freedom in business.
