Hey Therapist Entrepreneurs,
This week, I was learning from other practice owners, testing some ideas that might make us uncomfortable, and sharing one of the real systems I use inside my own practice. I hope you enjoy.
My 3 Favorite Episodes This Week
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For continuing to learn from other group practice owners…
This week, I listened to a new podcast called Your Group Practice, which was, unsurprisingly, about building a group practice 😉.
Even though I own a successful group practice and talk to many different practice owners, I'm always interested to learn how other private pay group practice owners run things because there are usually wonderful nuggets that I can take away.
In this episode, what stood out to me the most was a comment that the guest Stephanie Korpal, made about marketing. She said that often we outsource our marketing and expect people to get "good" results, but we don't know what good looks like, so we can't assess whether they're actually doing their job. I realized that I've been 100% guilty of this in the past. It's so easy to outsource things and hope they're going well, but if you don't know what success looks like, how will you know if you get there?
She also made several other really interesting observations about ways that she works on retention with her team and decides what to automate versus what to do in person. Honestly, she had lots of good ideas, so this episode is worth a listen.
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For testing your own limits…
This podcast episode might be a bit of a stretch, but I was hoping you'd come along for the ride. Here's what I mean: this episode, where Amy Porterfield interviews Callan Faulkner about her $19 million launch to sell her AI "employee" program to founders, will make many of you uncomfortable.
Here's why: Therapists and practice owners tend to be really concerned about AI, uncomfortable hearing about that much money being earned at once, and maybe even overwhelmed by the energy of this specific podcast. And. I couldn't stop listening. There are so many valuable takeaways, mindset shifts, and practical strategies that we can all use.
I’ll give you one highlight: They both talk about the idea of "collapsing time" by learning from experts and implementing the strategies that your future self would use. For example, if you want to be a seven-figure practice owner, the fastest way to get there is to start thinking like a seven-figure practice owner now and making the kinds of decisions that a seven-figure practice owner would make.
I started doing that two years ago, and I made it there in six months.
I feel like it’s my job sometimes to give you some of the podcast episodes that you don’t know you need, even if they feel uncomfortable at first.
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For creating your own CEO dashboard…
For years, I heard people talk about setting up their CEO dashboards, and I really did not know what they were talking about. Honestly, I don't think there's a right or wrong way to do this. I think there's a way that will work for you, and that's why I'm giving you the details about the information that is on my personal CEO dashboard and some suggestions for how you could create one that works and fits with your practice.
Basically, you just want to be able to get a snapshot every week of whether your business is healthy or not. That way, you don't have to spend lots of time digging in, but you can dig in further if there's something off that you need to explore. I hope this helps, and I'm excited to hear what you think.
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Leah's Personal Story Time:
A psychologist sleepover party
I love networking, but what I love most is when networking turns into real friendship.
This past weekend, I got to enjoy the full effects of that networking-plus-friendship situation. A group of psychologist practice owners in Houston went on a one-night retreat together about an hour away in Galveston.
We’re a group of psychologists who genuinely enjoy each other’s company. We usually meet about once a month for an hour to share ideas, but we realized that just wasn’t enough time. We decided we needed to have a sleepover in order to really get the ROI on our hangout. 😊
A couple of things struck me while I was there.
First, I thought it was absolutely amazing that this group of clinic owners, who could easily have seen one another as competition because some of our services overlap, has such deep respect for one another’s practices and businesses. We all took time out of our clinics and away from our families to meet as friends, share ideas, and think about future ways we could collaborate. That feels unusual, especially for a group of practice owners working in the same city.
But what made the weekend especially wonderful was how incredibly specific this particular group of friends is.
It’s always valuable to spend time with other private practice owners because they understand the realities of running a business. But these weren’t just other business owners. They were psychologists who had come from similar training backgrounds and shared many of the same values. We even had many of the same hangups that psychologists tend to have when we become business owners.
There was no need to explain why we think about certain decisions the way we do or why some parts of business ownership can feel particularly uncomfortable. Everyone already understood.
It was like an extremely niche kind of hangout among a very specific kind of friend: people who understand both what it means to be a psychologist and what it means to build and run a practice.
I’m not going to spend time telling you about all the positive things that can happen when you put a group of incredible business owners together, including the ideas, referrals, strategies, and opportunities for collaboration. You already know all of that.
What felt much more meaningful to me was the reminder that group practice ownership doesn’t have to be isolating.
You can create a community of people who genuinely understand what you’re doing. And they can understand you at an incredibly specific level, right down to your training, your values, and the particular hangups you developed long before anyone taught you how to run a business.
Sometimes networking isn’t really about networking at all. Sometimes it’s how you find your people.
And sometimes finding your people means realizing that your monthly one-hour meeting is no longer enough and you need to have a sleepover. 😊
If it's Worth It, pass it along!
Got a fellow therapist or practice owner who would love this info? Send them this email! They can also join the list by clicking on this link. Let's help more people thrive in their businesses.
Hope these resources help you grow your practice this week! Here's to your continued growth and success!
Warmly,
Leah
CEO of Thriving Child Center and PCIT Experts
Host of Educated Parent Podcast
Host of The Worth It Practice Podcast
CEO of Worth It Practice Consulting
