What is Your "Why"?
Whether you are about to embark on a new venture by starting your own practice or you have been in practice for a while, reflect on the reason you want to work for yourself and have your own practice .It’s usually pretty obvious when you are starting your business; most people can clearly articulate their reasons at this stage.
However, as time goes on and you get into the nitty-gritty day-to-day business of your business it can be easy to forget why you started it in the first place. I encourage you to write down your reasons and to reflect on them at any time you are contemplating a big decision in your business, whether it is hiring, purchasing a building, downsizing, or expanding your services.
Most people start their practice for these main reasons:
Time freedom
Income
Being able to provide therapy in a different way
These are fairly general, but I encourage you to get even more specific when it comes to writing down your reasons.
What do you hope to do with the time you anticipate saving? How many hours do you hope to work each week?
How much more income would you like to have?
What do you envision being different in your therapy if you’re working for yourself?
Being specific with your reasons for starting your practice can help you stay focused on your goals and help you make decisions that align with those reasons.
Keep in mind that your reasons may change over time.
They may change due to your personal circumstances. You may also find that you like spending time doing some things in your business while you dislike others. You may want to pivot as a result.
For example, you may find that you no longer want to do direct therapy or you may find that as you transition into a CEO role that you miss it.
You may find that you’re okay with being in network with insurance even if that wasn’t your plan, or that you no longer want to be in network if that was your plan.
My Journey
I have gone through several changes in my business over the years. A variety of factors have influenced my decisions to make changes. Some of them were a result of changes in my personal life, others related to external circumstances that were out of my control, and others were related to enthusiasm about the progress of my business and my desire to grow.
At one point, I found that I really did not like my business because it had changed into something that was not part of my original vision. This was largely due to changes that I had to make over the pandemic. When I reminded myself of my “why” I discovered that it no longer fit my original purpose, even though my reasons for wanting my own practice had not changed.
Another reason why I have made significant changes is because I find that I really like change. Doing the same thing day in and day out year after year becomes dull to me and I love a new challenge. So change is a natural process for me anyway.
Make and Review Goals Regularly
I recommend making goals at least quarterly to help you stay focused on your “why.” I did this early on in my business, but stopped at some point. I think it was when the pandemic hit, and I was more concerned about staying afloat than I was with adding new goals and changing directions. I did not get back into the habit of doing that until a few years later and it helps tremendously.
A good time to update your annual goals is when you have to renew your LLC or business license. Tie goal setting to something you already have to do.
Create a document that helps you break down your tasks. Something like this:
My “why”:
Annual Goals:
What do you hope to accomplish in a year? Make these specific! (Instead of "make more money"--how much would you like to make?
Monthly Goals
What goal this month will help you reach goal #1?
What goal this month will help you reach goal #2?
What goal this month will help you reach goal #3?
Weekly Goals
For each month break this down further into each week and add your to-do list there. It really helps you stay focused on the tasks that will help you reach your long-term goals.
Add the reasons you wanted to start your business at the top of your document so you can keep them in mind when you are making your goals. This way you are also updating that each year which can help you monitor whether you are staying aligned to your goals and/or if your “why” has changed.
I’m Alicia Kollmar and I am a pediatric occupational therapist in North Carolina. I started working for myself in 2010 and launched my business full time in 2015. I write these blogs to help new practice owners avoid some of the same mistakes I made when I started my practice. Looking for more support? I’d love to help! You can set up an appointment with me here.
