How to Develop a Business Mindset

It's great that you are passionate about the health profession you are in, but you can be passionate about it as an employee too. To have a business mindset you need to have an interest in business in general. Think - financial projections, profit and loss, business strategy, marketing, etc...

If you have no knowledge or experience in these things that's okay, but you need to be willing and interested in gaining these if you want to be successful in private practice.

Business owners plan long term. You have to go in the same direction with small day-to-day decisions, as well as big actions. In the beginning, it's easy to fall into a vicious cycle of getting "one more client" (because there are bills to pay), and neglect other aspects of running a business.

But having a long term vision, medium term strategy for achieving your vision, and short term tactivs for executing your strategy is a critical part of healthy business mindset.

Use this time to research your industry, brainstorm new revenue streams or marketing ideas. Take time to network with potential referral partners, or invest the time into professional development work kneeded to position yourself for the kind of work you want to do - not just the work that falls in your lap.

Don't like sales?

Scared of numbers?

Marketing and social media gives you a headache?

As a business owner, even if you are not doing these things yourself, you need to get comfortable with all of it to keep your finger on the pulse of your practice. Putting your head in the sand is not going to help you see opportunities or danger.

Numbers don't lie. Where numbers are concerned, it's enough for most employees to know what's coming in and what's going out. As an entrepreneur, you'd better learn to love number fast, because your cash flow is what will keep you in, or out of business. Ultimately, it's your sales, costs, profit and loss that will either give you sleepless nights or a thriving practice.

While you do wear multiple hats, in business, time is money. And when time is money, you want to maximizr your time as efficiently and effectively as possible. It is your job as a practice owner to identify which tasks are repeatable that can be systemized, how you can automate tasks that do not require human interaction, and which tasks would be better outsourced for improve efficiency and to free your time up for higher level tasks that will move your business forward.

What do you think? Do you have a business mindset? Did I leave anything out? Or maybe you don't agree. Either way, please share your insights.