It is estimated that at least one in three practitioners setting up private practice have changed their mind within three years. Shocking isn’t it?

What separates those who succeed from those who don’t?

You might be surprised to learn that it’s not their skill or ability as a therapist, but their business mind set. You don’t need to be a Michael O’Leary or a Rupert Murdoch to run a private practice, but you do need to have at least some business perspective.

Here are three characteristics that successful practitioners display:           

Commitment: You need to be committed to running a practice. This means not just learning and practising the skills and mind set of being a therapist, but also the skills and mind set of running a business. You need to be committed not only to identifying and working towards meeting your client’s therapeutic needs, but also to identifying and working towards meeting your own needs, such as earning an income, self-care, and looking after the administrative tasks of the business. Many practitioners are generous in the time they spend IN their practice (ie working with clients) but find it harder to spend time ON their practice (eg looking for new work).

Planning: It helps to have an idea where you want to go! One of the criteria that marks those who survive in practice is their ability to plan. A broad business plan (even if it’s informal) outlining the purpose, vision and strategy of the practice, supports you in decision making, in focusing your efforts, in identifying when action needs to be taken. Without a plan, it’s easy to lapse into apathy and fatalism, blaming external circumstances (eg the financial environment or the competition). A clear idea of financial targets (again, whether formalised into writing or not) is more likely to yield the desired results because it prompts us to take action.

Persistence: Imagine if the first time you stood up as a toddler and fell down again, you had given up and said “I can’t do that,” or “I tried it and it didn’t work.” And yet that’s exactly what many therapists do in relation to their business. Learning the skills of running a small business take time and they take practice. It requires a process of trial and error to discover what works best for you, and to grow into the place of being responsible for ourselves. Particularly in the area of promoting their practice, many are reluctant to persist with any course of action beyond their first attempt. Whatever the reason for this, (and no doubt we could analyse it endlessly) it is not a trait that serves.

There are other traits that support a healthy business perspective, but these three are probably the most important. Curiously, all therapists demonstrate these three traits on a daily basis in their client work, but find it harder to apply them in relation to the business sides of their practice.

I often hear from practitioners that they feel lacking in confidence where the business side of their practice is concerned. Any of you who have ever learned a new skill will know that confidence comes with repetition and support. Practice is so called for a reason! Practice your commitment and your planning, and be persistent in your efforts, and you will find your practice thriving.

And if I can help you with any of this, practical or emotional, please contact me. Browse my services here.

Save