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FF_Logo_Icon_NewThe decision to start up a private practice is one of the most important and challenging decisions you will ever make as a therapist.  

In today’s episode of the Functional Freedom Office Hours I explore with Jake DeNell, our resident business mentor, the questions, “Is owning a private therapy practice for everyone?”  and “Does it take a certain personality or gifting to start and run a successful PT clinic?”  We encourage you to take a closer look inside yourself.  Examine your talents.  Examine your training. Lastly examine your motivations for choosing therapy for your professional career and the desire to be your own boss.

Wikipedia defines an entrepreneur as a person who is wiling to help launch a new venture or enterprise and accept full responsibility for the outcome.  We will break down some of the benefits and the requirements of being an entrepreneur in the new business economy.

Our goal is to help you think through your decision to enter into private practice from a variety of different perspectives. Most entrepreneurs take on significant risks for the possibility of financial reward and for the “love of the game”.  The business game that is.  Here a few of the topics we discuss:

In this episode,  here’s what we’ll cover:

  • There are a variety of skills and abilities that can be relied upon to build a niche practice.

  • Therapists undergo an extensive selection process and a vigorous professional training program that prepares them for autonomous practice

  • The core services that therapists provide can be very valuable and cost effective solutions to patient’s problems

  • The new economy has provided therapists the opportunity to connect with potential clients like never before in history

  • Healthcare reform will force significant changes in how therapists compete to prove their value in a crowded health marketplace for limited resources

  • The importance of a business peer group or mentoring group

Resources to consider when considering starting a private practice:

What key qualities do you have to start up a private practice?