I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits.
It’s a great time to be an entrepreneur. Technology has leveled the playing field and propelled an entrepreneurial revolution. As an entrepreneur, you now have more access to more information that enables you to make more intelligent choices more quickly. You have an advantage over big practices in that you’re lighter, more flexible, and faster on your feet. You can target new patients more quickly, and you can turn on a dime.
However, being a successful entrepreneur requires that you look at the big picture and follow a plan through from the beginning to the end. Here are four practical guidelines that can help you when you begin your own practice:
1. Don’t quit your day job.
Consider starting your physiatry practice part-time, especially if it’s virtual, while you’re working and have a steady income. It usually takes six months to a year to get a practice going, and you don’t want your ability to make your house payment hinged upon your practice becoming an overnight success. Start with what you can manage financially and time-wise, and scale up as your practice grows.
2. Find your niche.
The days of general practice are over. Particularly online, patients are looking for providers that specialize. You have to find a need–something that a specific group of patients wants but can’t get at their current doctor–and fill it. You can’t compete with the big guys, so you have to find where the big guys aren’t and go into your niche.
3. Have an online presence.
Even if you’re not planning to start a virtual practice, consider that the internet can play a valuable role in your practice. Having an online presence eliminates the limitations of physical location and broadens your patient base by literally millions. It’s also an excellent tool for promoting yourself and letting people, even in your own area, know that you’re there and what you’re doing. Two easy ways of creating an online presence are building a captivating website and a social media strategy that offers its audiences tons of value.
4. Refuse to quit.
Of all the practical guidelines listed, this one is non-negotiable. Successful entrepreneurship requires creativity, energy, and a drive to keep going when you fail. Few people realize that before Bill Gates created the extremely successful Microsoft 3.0, he created a Microsoft 1.0 and 2.0, both of which flopped. But he kept at it. That determination and refusal to give up is what will separate successful entrepreneurs from unsuccessful ones. Arm yourself with optimism to get beyond the doubt or the trouble. There’s nothing wrong with failure; just don’t repeat the same mistakes.
These four practical guidelines demonstrate that it doesn’t take millions of dollars to start your own practice. You can start from where you are now. Build your own physiatry practice while you still have a day job. Just find your niche, cultivate a presence for the millions of potential patients online, and refuse to quit. There’s no time better than the present to become an entrepreneur. Here are 8 questions to ask yourself before launching your practice.
Attention, Physiatrists! Stop leaving money on the table. Learn how to make the most of each encounter. Schedule a FREE 15-minute Strategy Session NOW to learn more: https://calendly.com/hassan-akinbiyi/15min
I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits. Follow me on social media @DrHassanRehab.