From the Ground Up: Building a Business in the Mental Health Field – Pitfalls and Suggestions to Think About
What has been in these articles up to this point, and the articles to follow has been my experiences, and the result of our own trial and error. As I have mentioned before in many of my articles, I did not know all of these things the day we incorporated and opened our doors at Coherence Associates Inc. There are a few remaining things that I want to share, that really didn’t fall into any of the previous categories. In this section we will talk a little bit about some of the pitfalls that many mental health practices fall into, and some of the suggestions that made our lives easier when we figured them out.
Asking For Help –
Probably one of the single most important tips for any business that is being built is asking for help. There is a mentality of pulling yourself up by the bootstraps, doing it all yourself, and being independent that has permeated our culture for generations. While this can be incredibly satisfying, it is doing it the hard way. There are professionals that have done what you are trying to do, and most of them are willing to share their experience with you. It is also important to note that none of us can be experts on everything, and as such we need experts to help us with the things we don’t know. I had someone once tell me that if you want something, find someone who has it and ask how they got it, then do what they did. I have found this to be true in every walk of life. I can say that I didn’t ask for nearly as much help early on as I should have, and I would have made my life easier if I had.
Leveraging Your Assets
We all have many assets that make us better at what we do. There are physical assets (money, equipment, products etc.), intellectual assets (skills, education, etc.), social assets (reputation, connections, charisma, etc.) and many more. Everyone has them, but most people never maximize them, and just get by. There are ways to make your connections, your money, your reputation, etc. more and more productive. If you learn to leverage your assets you can do more than you ever thought possible.
Unforeseen Expenses –
No matter how much time and energy you spend in planning out your expenses, things will arise that you had no idea were coming. There are ways to plan for the unforeseen expenses, even if you don’t know exactly what they will be. This is one of the keys to success, being ready for the unexpected.
Time and Money –
Your time is your money, especially if you are a clinical practice that relies on its clinical hours for its revenue. It is imperative that you learn what tasks are worth your time to do as an owner, a founder, as a clinician etc. One of the keys for us was when we realized that it made no sense for our clinicians to do some of the basic data entry for their clients, as that took away from their clinical time, and it could be done far cheaper by an admin.
Speaking –
I can’t emphasize how important it is to get your staff out speaking to the community. Whether it is free trainings, paid engagements, or even just at the local meetings of professionals, speaking in the community is the number one way to build your reputation and your brand.
Growth and Marketing Strategies
There are hundreds of different strategies for growth and marketing, learn what is being done by your field, what has worked, what could work, and how to go about it. If you don’t know how you are going to grow, and you grow unexpectedly you may be left in a position where you have more clients than the infrastructure to support them. This is a real problem, and if mishandled can result in lack of care for people that need help.
Differentiation
Know what makes you different from your competitors, know what you do best, and use that. Teach people who you are and what you do, and how you can help them. Become the best at something you love, and teach others to do the same. The more you can be seen as an expert in something, the more you can be seen as different, the more likely you will be to stand out and grow.
Adaptability –
I saved this for last because it is one of the most important things you need to remember. Things change, situations arise that you can’t foresee, and problems happen where and when you least expect them. Learn to take a step back and change your plans when they are no longer viable instead of determinedly holding on to a failed idea. If you can take the challenges and failures that happen to everyone and learn and grow from them instead of be hampered by them, you will have an advantage that will set you beyond almost anyone you ever come across.
This is not an exhaustive list, but it is a few things that I have found key in growing, changing and adapting our business. I will take a few of these and speak in much greater detail in following articles.
Thank you for reading, and if you have and questions, comments, or opinions, please comment below, or email me privately at [email protected].
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- Jeremy Larsen
Business Development and Practice Manager
Coherence Associates Inc.