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33: Responsibility in Speech Therapy Private Practice

Responsibility in your speech therapy private practice  can come in many forms.  The most obvious is being responsible to your patients, showing up and delivering good quality treatments and working on your offer that converts.  There is also financial responsibility, social responsibility, responsibility to your team and most importantly being responsible and honest with yourself.  In this episode, I address responsibility and also challenge my listeners to look deep inside and find what is coming between you and your desire to start (or expand) your own speech therapy private.

In this episode:
03:12 – Welcome New All Access Community members
03:40 – Podcast Review: 2017
06:38 – Responsibility
06:50 – Financial Responsibility & Social Responsibility
08:28 – Start your own Speech Therapy Private practice
09:52 – You’ve got to have an offer that converts

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But there’s so many moving parts to this and it commands responsibility. So think about this you need to first be responsible to yourself. Now you’ve got to start that Private practice if you’re listening to this podcast I know you want to start your own Speech Therapy Private practice. You’re here for a reason. And every day that you delay is going to be profits down the road that you will not have because you started later and got on the Facebook and the Twitter and watching YouTube cat videos, and you just got distracted. Again you’ve got to start. How much of your future are you really losing by not starting right now. Don’t forget this. There’s always a price for getting what you want but there’s also a cost by not getting it.

[Commercial]

Well, Hello everyone! You’re listening to the Speech therapy Private practice Startup Podcast; this is episode number 33. My name is Kyle Meades and I’m a speech and language pathologist since 1993 and these podcasts are designed to help you improve your business and your life one podcast at a time.

Welcome back to the show everyone. Thanks again for all the emails and all the questions. I really appreciate it. Happy New Year and I hope 2018 is just as good or even better as 2017, and as of today, today is Sunday January 7th 2018. We have well over 27,168 listeners to the show. And when you break that down across the world we’ve got United States at the top, then Japan, Australia, United Kingdom, Canada, India, Germany, South Africa and Singapore. Now when you break it down in the United States alone and look at just the states here in the U.S., California’s topping the charts with the most listeners, then it’s Texas, New York, Florida, Arizona, Illinois, Pennsylvania, New Jersey and then Maryland.

So I hope you guys are getting valuable information out of these podcasts. These are free for you. So if you wouldn’t mind just please go to iTunes and leave five star feedback so that way other people can get the same good information that you’re getting. Also if you’re on the Google platform, the Android system, if you wouldn’t mind just going to your podcast program of choice and leave in some good Five Star feedback there. That would really help me and help others find the show easier so I would really appreciate that.

Also too I wanted to give a shout out to Pamela and Elena. Those are two new Private SLP All Access Forum Community members. Welcome to our community and I hope you guys are learning heaps. I know we have an upcoming training in January on ‘Goal setting’, so that’s going to be coming up and we’re looking forward to that. So I also wanted to kind of go through what we’ve done here in 2017 as a podcasting provider to all the listeners out there. So I was just kind of going back through the podcast that we’ve created here in 2017 and we started out the new year in January of 2017. We were talking about taxes so I gave the listeners out there some information about getting your taxes done and getting those taxes done appropriately.
Then we went into hiring employees what you need to know. Then we had a podcast on Cash flow basics for Speech therapy Private Practice. And then in April, I spoke about Attention to detail in speech therapy Private Practice and essentially that was setting the standard and being consistent, having timelines and keeping your business as a priority. And then also if you keep going back through there we had a video on the common mistakes that people make when starting a Private practice. We went into the Private practice travel test that’s basically how you are able to leave your practice for a period of time and still pay your employees help your patients. Again if you don’t have a team in place you own your own job. If you really want to be successful you have to have a team. So we talk about that in the travel test episode.

Then we went into encouragement the fuel for Speech Therapy Private practice and then we went into revenue and expenses for Speech Therapy Private practice and then recently we had a Payment Audit episode. Also there was one on Bright Shiny Objects (BSO’s) and those are essentially things that you have to stay away from if you want to have a real private practice because again I don’t know about you guys but I don’t sit around and watch YouTube videos or back when I was starting my own private practice I really didn’t have time to sit around in front of the television and really watch TV because I was working. I was working hard to make sure that I had a future and now that I have the Private practice that I have at the capacity that we have I’m so grateful that I wish I would have started it sooner.

We also went into an episode this past year of S.O.P and the Noah principle. S.O.P. for those of you new to that term, that’s called a Standard Operating Procedure. That’s when like the Noah principle in our clinic everybody has cross-trained so if someone’s out someone else can pick up that task so that’s very important when you get to a large level in Private practice. So the year kind of in review 2017 that’s what we really accomplished in 2017. That was just regular free podcast for you guys. Hope that you are following this valuable information and doing a great job with your own startup. And as always if you have questions just shoot me an email kyle@privateslp.com.

Now today’s topic, it’s going to be about responsibility. Now it sounds like a very easy topic people, you might be saying, ‘Well I don’t bounce checks and I’m a very responsible person’. That’s one type of responsibility financial responsibility but there’s also what’s called social responsibility. And that’s when businesses they should balance their profit making activities with those activities that benefit the local community and it evolves developing businesses with a positive relationship to the community for which they operate. So think about this.

The patients are always getting the good valuable treatment that they need and the employees the team they’re getting the income and the benefits and the retirement the 401K’s with the match. And they’re also getting a wonderful great place to work that they need to help themselves and their family. And the advertisers the television stations, radio stations, bus advertising that’s what we do here in Tucson. The advertisers are getting that revenue and the landlords getting the rent revenue and the local city gets their taxes. The Federal government they gain the revenue through employee withholdings. I mean think about it the government really relies on small businesses to be responsible so they can get the taxes when you withhold it out of the employee’s check. So that’s a big deal. And also they’ve got the capital gains tax on your profits that you make. You’ve got to pay capital gains tax too so that’s another part or another responsibility called social responsibility.

But there’s so many moving parts to this and it commands responsibility. So think about this you need to first be responsible to yourself. Now you’ve got to start that Private practice if you’re listening to this podcast I know you want to start your own Speech Therapy Private practice. You’re here for a reason. And every day that you delay is going to be profits down the road that you will not have because you started later and got on the Facebook and the Twitter and watching YouTube cat videos, and you just got distracted. Again you’ve got to start. How much of your future are you really losing by not starting right now. Don’t forget this. There’s always a price for getting what you want but there’s also a cost by not getting it. So please don’t forget that there’s always a cost. There’s a price for what you want but there’s a cost by not getting it.

Now you also have a responsibility to your team. You’ve got payroll, you’ve got taxes, you’ve got red, you’ve got professional liability, general liability, insurances, workman’s comp, auto insurance, you’ve got all those responsibilities, benefits, 401k, retirement, all those responsibilities. But you’ve also got that responsibility to your patients. How long are your patients going to wait for you in your community to start your own Speech therapy private practice to help and better serve them? How long are they going to wait? To have any sort of business you can’t have a business without this. You’ve got to have an offer that converts. For cash-based practices that might mean working with some sort of cash rate packages. X amount of sessions for X amount of dollars payable upfront or taking insurances. I spoke about this in another podcast episode. And again just because an insurance company doesn’t reimburse speech therapy doesn’t mean you’ll lose money. You just turned an insurance patient into a cash pay patient so don’t forget that. So you owe it to your patients. You owe it to your team. You owe it to yourself to get into action and be responsible and start your own Speech therapy Private practice.

If you need help don’t do it alone. There are community members already in the All Access Community at privateslp.com/membership if he need help that is a great place to start. The time could never be better and more affordable. If you want help I’ll be there to help you and coach you. There’s also a high value personal coaching thread that no one else in the community can see. That’s between you and me and I’ll help you if there’s something you don’t want to discuss in the community let me know and I’ll help you.

So again I hope this has been very helpful for you responsibility there different levels – Social responsibility, responsibility to yourself, your team and to your patients. So again I hope this has been helpful and if you have any questions reach out to me kyle@privateslp.com. And thank you for listening.

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