In this insightful discussion, co-founders of Therapy Flow, Joshua and Attilio, delve into the challenges and opportunities that arise when growth impacts your private practice.
Whether you’re experiencing the exhaustion that often accompanies growth or facing obstacles that seem as formidable as dragons, they provide valuable insights to help you navigate these complex dynamics.
From the importance of mindset shifts and embracing change to the critical role of data, systems, and team dynamics, they cover it all. Discover the keys to unlocking sustained growth while maintaining clarity in leadership and managing complexity with just the right touch of simplicity.
Join us as we explore how to identify your genuine needs versus wants, ensuring your practice’s continued success. And when you’re in need of guidance, they underscore the significance of seeking external perspectives.
If your practice is facing the challenges of growth, this discussion will provide you with the knowledge and strategies to address them effectively.
Key Insights From Video
Here are the key insights from the video discussion:
Mindset and Growth: Growth in your private practice involves taking actions and expending energy. You must shift your mindset to believe that growth is possible, embrace the idea of change, and accept the exhaustion that comes with growth. Your willingness to embrace different speeds of growth is crucial.
Overcoming the Stamina Gap: Consistent growth can be exhausting, leading to what’s termed a “stamina gap.” You may feel overwhelmed, uncertain, or fearful, especially after taking massive action. It’s crucial to recognize and address this gap to continue growing effectively. Give yourself permission to evolve and adapt as your business grows.
Closing the Loop and Acknowledging Success: It’s essential to acknowledge and celebrate the work and actions you’ve taken in your business. By periodically assessing the outcomes and processes, you can prepare for the next phase of growth and maintain momentum. Have clarity on what you’ve outgrown and what you need.
Obstacles on the Growth Journey: Just as in a fairy tale where heroes face dragons to reach the pile of gold, your business will encounter obstacles (dragons) as it grows. Overcoming these obstacles is essential for reaching your goals and sustaining growth.
Data and Systems for Growth: As your practice grows, the need for better data and systems to track inquiries, clients, and other critical business elements becomes increasingly important. Without these systems, it’s challenging to sustain your growth. As your practice scales, the way you manage financial matters like taxes, write-offs, choosing self-pay or insurance, and expenses will need to adapt.
Micro and Macro Data Focus: Initially, you focus on macro-level data for your business. However, as you continue to grow, paying attention to micro-level data, like session-to-session churn rates per clinician, becomes crucial, as it has a significant impact on a larger team.
Team Dynamics in Growth: The dynamics and communication within your team change as it grows. You’ll need to reconfigure how you interact with your staff, how you train them, and the structures you have in place for effective communication. The larger the team, the more complex this becomes.
Effective Leadership for Clarity: The leader’s vision and mission play a vital role in creating clarity for the team. Clear communication, setting standards, and defining roles are essential for helping your team make decisions and work effectively.
Balancing Complexity and Simplicity: Leaders should be aware of their tendency to overcomplicate or oversimplify matters. Finding the right balance between simplicity and complexity is crucial for effective management and growth.
Evaluating What’s Outgrown: Periodically assess what has worked well but is no longer sufficient for your practice’s needs. What you’ve outgrown is an indicator of where you need to develop further to meet your business’s needs.
Needs Over Wants: Distinguish between what you want and what you genuinely need for your practice’s growth. Addressing your actual needs will help your business continue to grow effectively.
Importance of External Perspectives: Sometimes, it’s challenging to identify your needs. In such cases, seeking help from a coach, mentor, or an external perspective can provide valuable insights and guidance.
As you reflect on the valuable insights shared in this discussion with Joshua and Attilio, the co-founders of Therapy Flow, you’re equipped with a powerful arsenal of strategies and perspectives to tackle the challenges that growth presents to your private practice.
These insights emphasize the significance of your mindset and your readiness to embrace change, setting the stage for sustainable growth. In your journey to overcome the “stamina gap,” acknowledging your need to adapt and evolve is a pivotal step in ensuring your practice’s continued success.
Celebrating your achievements and assessing your processes become the compass guiding your path through obstacles akin to dragons in a fairy tale. Remember that as your practice flourishes, data, systems, and financial management must scale in tandem, underlining the importance of tracking macro and micro-level data.
Team dynamics evolve, leadership must maintain clarity, and balancing complexity and simplicity is the hallmark of effective management during growth. Periodic evaluation helps you identify what’s outgrown and what genuinely fulfills your practice’s needs.
Ultimately, distinguishing between wants and needs becomes crucial, as addressing your actual needs is the key to continued, effective growth. When clarity is elusive, seeking external perspectives from mentors, coaches, or other sources of guidance can offer the insight you require.
Armed with these insights, you’re prepared to tackle the challenges of growth in your private practice with confidence and resilience.