Can you take off of work for 2 weeks and feel like the world is not going to fall apart? Have you backed away from wearing most of the hats? Does it almost feel like your practice is in auto pilot. If so, you’ve gotten to Phase 3.
During Phase 3 your systems are in place, your referrals are incredibly steady, and you have found a way to outsource most of the work that takes away from your ability to do the important stuff – like seeing your clients, connecting with your associates, and having a vision for the future.
In Phase 3 you are no longer running things on your own – the system you built is running things. This creates a practice that has you as the visionary and motivator but not you as the biller, the accountant, the scheduler, the phone answerer, the supply orderer, and everything in between.
During this time, you also need to think about how to create a practice that offers all of the services your clients are expecting from you – perhaps you would like to create an online program, maybe your therapy center will offer a training program for future therapists, perhaps you write a workbook that supports the practices ideal client. This creates a business with many offerings that meet people where they are.
In this phase, you are making some of your toughest decisions to date. You have clarity in your vision which might mean that you have to adjust services, let go of clinicians that are no longer serving the practice, or change your relationship with professionals such as lawyers and accountants. You might also have to personally consider the mindset blocks that will block successful scaling of your practice.
When you are in Phase 3, your growth can lead into hundreds of thousands to millions of dollars of revenue a year. And to maintain that you will need to have the right people on your team.
Working with a coach is incredibly important in Phase 3. This is the moment where you can really accelerate your practice, create amazing growth, and build something that is incredibly profitable while still taking vacations. Practices that get to Phase 3 have the potential to sell when you are ready to retire, so you want to to make sure that you have dotted your i’s and crossed your t’s.
By: Elizabeth Earnshaw, LMFT
Elizabeth Earnshaw created a thriving and sustainable practice with $12.00 in her pocket. Her practice has several therapists, low overhead, and a high referral base. Elizabeth has disentangled herself from the daily operations of the practice (enough so that she has time to write a blog, run workshops, and even have a consulting business. Most importantly, enough so that she can spend time with her toddler, take vacations,and watch GoT with her husband). If you have gotten through Phase 2 and are ready for the next level, she’d love to chat with you. Click here to book your free discovery call.