When should you start considering the intentional growth or expansion of your practice? Do you have your sights set on running a group practice one day? What are the five signs you should look out for to know that you have a good shot of expanding your practice successfully?
In this podcast episode, Brandon Shurn discusses the five main reasons for when to expand from a solo to a group practice in a mini-consultancy.
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In This Podcast
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There is a waitlist
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You want a more flexible schedule
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Are you turning people away?
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Extend your reach
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Reaching a sweet spot in business
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What to consider now
There is a waitlist
One of the first reasons to consider switching your solo practice to a group practice format is that you have, or are about to have, a waitlist.
There are so many schools of thought … around whether or not having a waitlist is a good or bad thing. I’m not here to debate the merits for or against whichever decision you land on, but if you have a waitlist or you have people reaching out to you, and you are as full as you want to be in your solo practice, that is a good problem to have! (Brandon Shurn)
As Brandon explains, a waitlist is not inherently good or bad, but it is a good sign that you have a lot of interest from your target audience, and that you have a promising opportunity for growth in front of you.
You want a more flexible schedule
Brandon’s second reason to consider growing your practice is a reason that many therapists have for considering the shift: a desire to have more free time.
Running a group practice will mean a shift in your tasks and schedule, but as your practice receives more streams of income, it allows you to pull back a bit on having to see so many clients.
We want to be able to take off when we want to, you know, do what we want to with our time, and not be on any other person’s time clock. (Brandon Shurn)
Are you turning people away?
Sometimes your niche is adjacent to other niches, and curious and interested clients will come to you to see if you can help them. However, because they may not fall within your ideal client range,