In this episode, I discuss the speech therapy private practice mindset and how it’s important for private practice success. I also list strategies that help you acquire and maintain this mindset so that you can start, grow or scale your business.

In this episode:

01:59 – One space available for the Perfect Student

02:51 – Need billing and credentialing help?

03:12 – Private Practice Mindset

04:46 – Pushing Boundaries

06:36 – Risk versus Benefit

07:56 – Learning from your mistakes

08:56 – Curiosity and a hunger for more

09:47 – Recognizing others and helping others

11:00 – Staying Positive

12:15 – Physical health

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Again you’ve got to be prepared and have funds for a rainy day so to speak. So again taking healthy risks, pushing the envelope and making things happen.

[Commercial]

Hello everyone you’re listening to the Speech Therapy Private Practice StartUp Podcast. This is episode number 38. 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 comments. And as of today, today is Saturday, May 12 2018. We have well over 32,674 listeners to the show. And I’m super glad you guys are out there getting good valuable information and you know me every single episode, I say value is what you get in the absence of money and these podcasts are free for you so I would appreciate if you just go to the iOS or Android platform of your choice and please leave some good 5 Star feedback. That way other people just like you can get the same valuable information that you’re receiving. And if this is your first episode welcome to the podcast and I hope you find everything that you’re looking for here and if there’s something that you are looking for and you’re not finding it. All you have to do, the solution is simple, shoot me an email kyle@privateslp.com and I’ll help you. I mean it can’t get any easier than that but you have to do one thing and that is get into action and send me that email.

Also too, I wanted to say we have one space available for the perfect student and I get a lot of requests for the perfect student. You can find that at privateslp.com/coaching and you’ll find two different types of coaching that I offer at the moment. One is the all access community that’s where you can have access to me online and we have monthly webinars, we have an online community of people that we help each other out, we answer questions, there’s forums systems, training, everything is on that platform. If you’re looking for something more in-depth and something a little bit quicker pace, then you can fly into Tucson and work with me hand in hand. That’s called the perfect student. I have one space available. And again you can find this information at privateslp.com/coaching.

Also too, if you are looking for help with your billing or you need some help with credentialing, for instance taking Insurance’s. If you’re just starting out and you need help. All you have to do is reach out to me at kyle@privateslp.com. Or just go to privateslp.com/billing and there’s help there as well.

Now today I wanted to talk to you about the Private Practice Mindset. What is the Private Practice Mindset? So when you start a Private practice or grow or scale your own Speech Therapy Private Practice, there is a certain mindset that one has to have in order to achieve certain goals and it’s not the same type of mindset. Like an employee, I remember when I worked at the nursing home I had to be there pretty early so we could work with the dysphagia patients at 06:30-07:00 in the morning. We had to do our breakfast and get all that stuff taken care of and we had to be there early and I have to clock him. Got to see all my patients, figure out how many patients I had for the day. Trying to roll that documentation time in so we could meet our Rug levels and get off the clock. So you don’t want your productivity drops because you didn’t want to get in trouble by the manager. I mean that was my mindset when I was working for the nursing home. And I’m sure a lot of you guys out there what I just said you totally get. That is a different mindset compared to Private practice where when you have your own Private Practice you see what you want to accomplish and you can project it out into the universe and not get on hippie here. I’m just saying you have to be able to visualize this stuff and so when you can see your building or your employees are helping patients I mean that’s when you get into this mindset.

And I’ve kind of broken this thing down into seven parts so you have to have a mind set for growth. Number one – you’ve got to be able to push boundaries and you’ve got to dream larger than large and you’ve got to have a vision. Again you’ve got to see this thing. You have to know deep down in your soul beyond that deeper than that, that this thing that you want to create will work.

And for those of you who are listening right now to what I just said deep down if it’s going to work or not because some people they want it and they want it badly. I’ve talked to a lot of people and they want this thing they can taste it. They want this Private Practice but they’re not ready for. They’ve got tons of debt tons of debt. Because when I speak to people when people reach out to me on the Contact page privateslp.com/contact people e-mail me all the time and I surprise people because I pick up the phone and call them and ask them these questions, what kind of debt do you have? And some people say, “I’ve got ten fifteen-twenty thousand dollars.” and they’re not ready yet because what happens if they get a bump in the road and they need more money. And people say my credit lines maxed out.

I always say to someone if they’re high in debt, “Get out of debt first” because again Private practice, you want to work for yourself. You don’t want to work for the bank. So that’s something you’ve got to be able to do. You’ve got to push boundaries. Dream larger than large and have that vision but you can’t be in debt.

Another thing I’ve talked to people who have substance abuse problems. Those things will stop you dead in your tracks debt substance abuse people. It’s just very real. Some people won’t say it but I’m going to say it it’s very real. And you have to take care of that before you start out. So you got to get your own house in order if you know what I mean.

Number two Risk versus Benefit. I mean you’ve got to take healthy risks. You’ve gotta push the envelope you’ve gotta make things happen. But just like I said for number one you don’t want to borrow a ton of money because then you’re working for the bank. But let me say this there’s nothing wrong with borrowing a little money. I had a 10,000 dollar line of credit that I used to jack up and then pay it off and jack it up and pay it off but never went over that ten grand threshold because when I started out with my own Speech Therapy Private Practice I had some money saved up it wasn’t a ton of money but it wasn’t cheap to start out. I mean I’ve seen people say you can do it for this amount and that amount. I think there’s any set way to start that Private Practice. I don’t think there’s a dollar sign out there but for me I know that I just didn’t want to assume a bunch of rent.

I recently spoke to a private practice owner who had to shut their doors because they had high dollar rent and they had some patients but little to no reimbursement. And a big staff of people this is going quickly belly up floating to the top. And now the person is in serious debt, repeat to step number one is what we’re just saying again, you’ve got to be prepared and have funds for a rainy day so to speak. So again taking healthy risks, pushing the envelope and making things happen.

Number three – Learning