It may seem counter intuitive, but I believe that some people may be more afraid of being successful than failing. When you look the flow charts of failure and success, failure is easy. A successful flow chart is more complex, however. In this episode, I address common fears of success and provide some action steps and tips to overcome the fear of success and self sabotage.

 

In this episode:

01:32 – 31,182 listeners to show

03:21 – Fear of Succeeding

03:55 – Flowchart for success

07:18 – Grow your reputation in the community

07:38 – Improve your savings account

08:18 – Increase your Patient flow

08:38 – Take care of yourself, physically or mentally and emotionally

10:45 – How to deal with negative feedback

12:29 – Fear of becoming Business Owner

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I always wanted to start my own Speech Therapy Private Practice and it took Hurricane Katrina to throw me out of my comfort zone to push me into this realm of starting and growing and scaling a Private Practice, so again it’s for a specific type of person. And I’ve also talked to people who say you, I want to do this, I want to open my own Speech Therapy Private Practice and then they join the community or they start getting coaching and then after a couple of months they get a little complacent. They don’t interact with the group. They start doing other things or not being as accountable to their own actions. They’re not being honest with themselves and they kind of just fizzle out and it’s just the same idea over and over.

[Commercial]

Hello everyone you’re listening to the Speech Therapy Private Practice StartUp Podcast. This is episode number 37. My name is Kyle Meades and I’m a speech pathologist since 1993. And these podcasts are designed to help you improve your business and your life one Podcast at a time.

Welcome back to the show everyone. Thanks again for all the emails, questions and all the feedback. And as of today, today is Sunday April 8th 2018. We have well over 31,182 listeners to the show and I’m super happy you guys are out there getting good valuable free information and I say it every single episode, “Value is what you get in the absence of money”. These podcasts are absolutely free for you so if you wouldn’t mind please go to your Android platform or your iOS platform of choice and leave some good 5 Star feedback that way other people just like you can get the same valuable information that you’re receiving. And I would really appreciate that that way other people can get the same help and assistance that you’re getting off of these podcasts.

Again when I first started out I just didn’t see or hear or find anything on the web except for some PDF and things like that, so I wanted to change that. And as I slowly grew and improve my own business I wanted to just go ahead and share that information. So that’s what I’m doing on these podcasts. And we have listeners now from all over the world. It’s really cool to see who’s out there. United States is topping the charts, but lately the Japanese are coming up there and we’ve got Australia on the top the list. We have India, United Kingdom, Canada, Germany, South Africa and The Republic of Korea. And when you break it down in the United States from the state standpoint, we’ve got California topping the charts, then Texas, New York, Florida, Arizona, Illinois, Pennsylvania, New Jersey and Georgia. So again I’m happy you guys are out there if you have any questions or if you want to know more about Speech Therapy Private Practice just simply go to privateslp.com/contact. You can reach me there and I’m willing to help you.

So I wanted to talk to you today about the ‘Fear of Succeeding’. Now that might sound a little bit counter-intuitive because a lot of people are just scared to fail. But when you start your own Speech Therapy Private Practice or when you’re growing it and scaling it, there’s a lot of fear because when you do something one time you need to do it over and over and over. So the stakes just get higher and higher and higher. And if you look at success, success is actually more complex than failing. The flowchart for failure is simply you try something you fail and you’re done. But the flowchart for success can be really complex. For example, you start your own Private Practice, you see some patients in the home or the home of community setting or your office and then you might lease a space and then you start to make a small profit. You save that money so you can hire other employees and then you hire an employee and then you save more money and you grow it. That’s success, that’s when you just opened yourself to a new set of growth opportunities. And those growth opportunities, for me those things are very scary.

They makes a person sort of fearful. You’ve got employees and you’ve got management, you’ve got compliance issues, I speak to a lot of people in the private practice world and they have fear of compliance issues, service delivery, taxes, problems with billing and credentialing, payroll, legal issues and employment issues. And the list goes on and on. But that’s success. That’s what’s going to take me obviously to another level with my own Private Practice. But also it’s going to help me grow and push me into those areas that I really don’t want to be pushed into. And again let me say this being successful and having your own Speech Therapy Private Practice it takes a certain type of person to want to do this.

Now, there’s nothing wrong with being an employee working for the same company or multiple companies for multiple years. There is absolutely nothing wrong with that. It’s a simple good consistent life where you can go to work for a set amount of days and a set amount of time, you get a paycheck and you get benefits. You get your caseload and you get everything done for your schedule and it’s very convenient. And there’s nothing wrong with it. And I did that for years. But there was finally a piece of the puzzle, I always wanted to start my own Speech Therapy Private Practice and it took Hurricane Katrina to throw me out of my comfort zone to push me into this realm of starting and growing and scaling a Private Practice, so again it’s for a specific type of person.

And I’ve also talked to people who say you, I want to do this, I want to open my own Speech Therapy Private Practice and then they join the community or they start getting coaching and then after a couple of months they get a little complacent. They don’t interact with the group. They start doing other things or not being as accountable to their own actions. They’re not being honest with themselves and they kind of just fizzle out and it’s just the same idea over and over. And so that’s something that when you do start your own Private Practice you want to make sure that you get over those humps and that you get over those problems of getting distracted. I’ve mentioned that another podcast going after those bright shiny objects, those BSO’s, spending too much time on Social media, Facebook, Insta, Twitter, YouTube and its just distractions. So here’s some tips on how you can overcome sabotaging yourself when you’re starting or growing your scaling your own private practice.

Number one, what you can do is you can really grow your reputation in the community and this takes time. Wherever you’re working, whatever community you’re involved in. You can actually help and change a lot of lives for a lot of people and be of service. So that will help you overcome that sabotaging fear. The second thing is you can improve your savings account your bottom line. There’s no secret the more money you save in the bank the more money you’re going to have to grow your business and that’s directly proportional, you can go out and borrow money but there’s no guarantee that you can pay that loan back. You might be able to service that loan and make those minimal payments but again why would you want to borrow a lot of money when you haven’t tested the waters on a smaller scale. That way when you borrow a lot of money from the banks you’re working for the bank and when you’re borrowing money from yourself you’re in for yourself. So that’s another thing to remember when you want to overcome sabotaging yourself.

A third tip to remember you can just increase your Patient flow. I mean over time if you’re doing a good job and providing a good quality service you’re going to get more patients, more doctor referrals. You’re going to see that patient flow increase and improve. Also a fourth thing you can do to overcome fear and self sabotage. I mean you can just take care of yourself, physically or mentally and emotionally. Physically you can hire a personal trainer. You can work out, you can eat well, you can exercise, you can set off time, set aside time during the week to take care of you. I love to go to the gym. I’m not a big weight lifter but I do like to get my cardio on. I like to exercise and rhyme. I love to hit that treadmill, like to steam and I like to sit in a jacuzzi. I like to go to the JCC, it’s here in Tucson. It’s a place I’d like to go work out and I do that on a regular basis. And I do notice when I’m not taking care of myself physically, my mental state I get a little fearful when I get a little worried, I get a bit squirrelly they call it but I gotta get back into my routine.

Now mentally and emotionally, you can take care of yourself. You can attend seminars and there’s nothing better than getting on a plane going to a foreign country and working with o