In case you haven't noticed, behavioral groups are popping up all over the US. Why, you ask? There are several reasons, many of which being low start-up costs, the overwhelming need for services, the appearance that they're easy to operate, the will to help others, or even financial gain. Most of these business owners are clinicians themselves, but in some situations, they are not. Statistics are lacking on the success vs. fail rates of said behavioral business, however, if you're wondering what makes a good company, or what makes one company prosper when so many others struggle, I think I have the answer.
We've all done things we're not proud of. Of course we have because we're human, and humans have a knack for messing things up. In order to be successful in a helping field it's important to rely heavily on your morals, your ethics and the price you would pay to spread good in this world. Whether you have a behavioral health background or you're just in the business to make money, one common theme must exist to help people help people, and that is PURPOSE. Regardless of whether you want to be a 100K company or a 100M company, your purpose must be powerful and heart-felt. Absent of lies, manipulation and greed, a purpose to make an impact on the world that you will one day leave behind.
Do I like money? Sure, who doesn't. Do I need money? Absolutely. Do I get up everyday with a primary thought of profitability? No. Each and every morning I am excited to get out of the bed and work towards my purpose of offering progressive and innovative services to the people that I care about. Although your business plan is important, and your Profit & Loss statement is your guide, your backbone is your purpose. It's what keeps you going when it appears that the deck is stacked against you. Your purpose is what reminds you of why you started. Your purpose is the reason that you work through the struggles, the betrayal, the rejection and the fear. Each person's purpose is going to be different, but the purity in your purpose will project the path of your ultimate profitability.
It's never too late to re-evaluate your WHY. Whether you are in the startup phase of your business or the scaling phase, you should consider taking a close look at your PEOPLE | PURPOSE | PROFIT. In three years I've struggled to find balance between the three. When my people were good, my profit was bad, or when the profit was good, someone was negatively influencing my company's purpose. You may need to do what I did and shake the tree. When your purpose is pure and you pick people that genuinely share in that vision, your profits will take a turn in the right direction.
Helping professionals often struggle with accepting profit because we tend to think of the greater good and often feel guilty when we make a profit from doing something we feel we should do anyway. These are the people that have a strong purpose and with a little guidance will have such an advantage towards being financially successful. These are the behavioral group owners I have a passion for working with!
So today, if I could inspire a smidgen of thought in your entrepreneurial minds, I would ask that you question your own PURPOSE. Are you ready to grow a million dollar business and have a person-centered mindset? Do you have a group of people whose passion for helping is contagious? Are you open to learning financial strategies that will help you make business decisions based off numbers and not just your gut instincts? If the answer is yes, then the sky's the limit for you!
The next several months are full of opportunities for growth. Whether you are a business owner or just reading this post for entertainment, I appreciate the opportunity to share the importance of purpose with you. I am thankful for the opportunities and platform that being the owner of a behavioral group has given to me.
To keep up with all the latest and to hear about Starting a Million Dollar Practice, check out Joe Sanok's podcast airing April 3, 2018: http://www.practiceofthepractice.com/kaseycompton
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