Should You Go into Private Practice Right Out of School?

Jeff Moore talked about “Should you right out of school open a Private Practice?”

His short answer was no.

He said you should not do it, and he gave his reasons.

His reasons were that it’s just a lot for you to absorb, trying to get yourself comfortable with your clinical skills and then your marketing to people and do you know if you are good enough to be able to deliver the goods. It’s a great point… actually it’s a fantastic point.

He believes like I believe that you need a mentor, you need someone who is in the game and that’s done it, and you can learn, and  get training from them and all that other stuff. I agree with every single thing that he said.

Here’s my only issue… my only problem is who’s mentoring you? Let’s go back to my first four years out of school before I had my practice.

Every single place that I worked at there was nobody in any of those places that got me any more ready for opening up a practice than I was 4 1/2 years into it. I had more people pushing me away from practice ownership than wanting to own one.

Everybody was pushing me away. The customer service level in big places was so piss poor; it’s terrible.

When you see the things that are available to you now, trust me, they are not trying to make you see these things. In our profession, we have this mindset that we have only this amount to work with so we think we are competing against one another.  I thought that too, but that’s not true. I am not competing against anyone.

How do you stick out competing against so many people in the area?

That’s the thing you have to learn; you are not competing against them.  Most PT clinics aren’t giving excellent customer service, and most aren’t trying to cater to a particular group of people.

Nobody is doing that stuff, so I am not competing against anybody.

PTs think they are giving customer service if they can count numbers for people one on one but that is not what people are looking for.  Honestly, that’s not what people are looking for. Just ask them and they will tell you.

Most of the private practices that I consult for don’t know social media. Mentorship by these practice owners sounds great on paper, but if I am trying to create my practice to win in 2017k and you built your practice by getting chummy with  physicians, and you did that back in the 90s or back in the late 80s, how is that going to be duplicated for me?

If I’m a late 20/early 30’s new grad PT, wanting to earn a living and build a business that I can have for my family and future generations., how is the way that you built your biz 10-15 years ago going to be in line with how I am going to build it?

Does that mentorship work for me?

No.

Watch the video here: Should You Go into Private Practice Right Out of School?

Today we are in a different era. You take out your phone, and you can make magic. Most practice owners that are baby boomers, they don’t understand that, and in all fairness, they don’t need to understand that. So my whole thing is who is mentoring you? That’s the problem.

I just don’t see a lot of people out there that can direct you in a path that is relevant for today’s era. That’s my issue.

PTs are killing it on Twitter.

That’s cool, and that’s cute, but Twitter was like four years ago. I am on Twitter just because I am talking to other PTs but when I want to speak to the community, I am not on Twitter.

Again….who is directing you?

Who’s telling you where to go?

Step up your game. Click To TweetWhen we are talking about mentorship, the thing is you need proper mentorship. The way you built a business in 1975 is not the way Mark Cuban made his fortunes in the late 90s early 2000s. And the way you grow business in the late 90s/early 2000s is not how you build your business in 2017. You need relevant training.

If I want to have a practice, you need someone that is doing it in an appropriate manner that you can say, “Hey, I can duplicate that?”.  That’s why I am torn between should you do it right out of school or should you not.

My concern is that if you go right out of school, and work for your typical mill or even if you work for a private practice,  and you are doing it the old school way.

Well, you are screwed because you are learning techniques, and you are learning processes that don’t work anymore.

Renewal Rehab has done pretty well. For twelve years we’ve had net revenue growth. Bottom line, what’s coming to our bank account has increased every single year for twelve consecutive years. The way we pulled it off in these first few years is totally different than how we do it today.

And if I had to look back on my career that I started my practice 4 1/2 years in, would I have started any earlier?

Why not?

What happens to most PTs is that they get to 7 years and they are burnedout . They are doing it the old-fashioned way. That’s my problem with mentoring is that a lot of mentors are still doing it the old fashion way.

It doesn’t work in 2017 because the same thing, you are getting paid $80 now, you used to get $180 back in 1989, and you don’t get that paid anymore and you can’t win.

The same education that was $20,000 in 1998 is now $110,000. You can’t win doing it the old way. It’s not putting you in a situation to win. So the people that are efficient, the people that are leveraging, the people that are listening to their customer, the people that are catering to their customer, the people that are marketing into their customer, we are the ones that are winning.

And because you are investing more, you should demand more from your investment…which means that you might have to take it into your own hands  a.k.a – Do your own thing!!!

So if your mentor is not doing that, you are not going to win because you are learning the wrong way. That’s why I say, It’s important to learn all the right tools, but you gotta learn it in the correct order as well. Click To Tweet