Bright Shiny Objects
Feb 22, 2024I learned a lot about myself while starting, building, and selling a practice.
But one realization stood out the most.
When I get bored, I tend to add complexity to my business.
It's just my personality.
I see opportunities everywhere.
"Bright Shiny Object Syndrome".
It led me to go from a small team and highly profitable mobile hearing care practice, to:
- Buying a vestibular therapy franchise.
- Adding a 3700ft facility.
- Quadrupling the size of my team.
- Investing over half a million dollars to launch it.
Sure, we added almost seven figures in top line revenue in just over two years.
It was effortless to market and grow it.
And we provided a highly-specialized and effective program for people who desperately needed it.
But...
- I hated the stress and drama of a bigger team.
- I despised the compliance, regulations, and hoops of filing hundreds of insurance claims each week.
- I was stressed out by the overhead.
- My highly sensitive, introverted wife was exhausted by helping me run it.
What Don't You Want?
Sometimes the best way to identify your values is by looking for what you're repelled by.
I felt trapped by the overhead, management, and bureaucracy required to run my expanded business model.
So, I learned that I value creativity, peace and time more than the ego boost of having a big and successful business.
I decided to never build another business that I would want to escape from.
That takes discipline for me.
It means saying "no" to things that could make me money, or that look interesting in the moment.
Focusing on the fewer, better things.
Does Your Practice Support You Living Your Values?
What do you value?
Time and flexibility? Financial security? Doing work you're passionate about?
Two more questions:
- How does your practice align with your values?
- Where does it bump up against them?
For many early-stage owners, the mistake is overextending in desperation to create cashflow, ultimately building something that's unsustainable or undesirable long-term.
For folks who've been in it a while, the biggest pain tends to be that they've built a business that relies on them.
In either situation, you can start making changes today that bring you closer to your "Dream Practice".
That's what we're doing inside of Practice Amplifier.
Getting focused.
Tightening up the systems.
Managing by the numbers.
Building businesses that let the owner live in their sweet spot.
It's also aligned for me.
I get to live in my zone of creativity and problem-solving while supporting practice owners generously in a way that doesn't eat up all of my time.
I’m taking everything I've learned from starting, building, systematizing, scaling, and selling my own practice...
...all of the tools and programs that I've built for practice owners over the past 3 years of consulting...
and giving you an All-Access Pass.
- You’ll get plug-and-play systems and resources that make your life easier.
- You’ll stay on the cutting edge with innovative training from experts in audiology and outside fields.
- You’ll make progress during workshops that help you build a healthier and more profitable practice.
You’ll have support that makes you feel like you're surrounded by a community rather than going it alone.
You can lock in your lifetime "Early Adopter" price for less than the cost of a daily Starbucks right now.
On March 1st, the price goes up forever.
Want to help more patients in your practice? Schedule a risk-free strategy session to discuss your goals and develop a plan with Brad Stewart, AuD.