The first phase is the most exciting part, called the “setup/planning phase”, which includes formulating timelines and due diligence for the project. The practice owner is excited about their new venture, and from our point of view, we enjoy listening to the plans owners have envisaged.
The second stage is putting everything into place so the practice opens on time.
During this phase, there is juggling and mastery in the background, and sometimes, one part of the project can not commence until another item is finalised, with multiple items often developing at once.
During the second stage, it is paramount that everyone stays on track with timelines and communicates well.
From an “emotional” point of view, we see the owner sometimes perplexed by the activity behind the scenes and sometimes sway away from decision-making.
Practice owners need to communicate their concerns during this point so we can ensure that all is going to plan. After all, that is what you pay consultants for – project management and keeping the project on track.
It is also wise during the setup process for the practice owner not to jump forward to other stages of practice life, such as already considering expanding or trying to put your practice in a phase where you are not ready.
After the practice opens, the initial excitement subsides, and the reason for this is that owners need to focus on systems and take baby steps ( the boring stuff).
Ticking off these details is often frustrating for owners. However, if you are not working on systems implemented, expansion may see difficulties and disorganisation.
It is also important not to listen to all your colleagues about “their practice” as all businesses are different.
Too many advisors can slow down the decision-making process. The owner starts second-guessing themselves, and the chaos begins.
When you are ready for expansion, this needs to be a separate project. It needs plans, project lines and research.
Receiving information from your colleagues is interesting, yet researching the best and newest technology is much more fun.
Many practice owners maintain the strategies they designed five or ten years ago. With our ever-changing health industry, there are new ways of accomplishing things every year, if not more regularly.
In conclusion, communicate your feelings with your consultant and keep your mind focused on one phase at a time.