The Costliest Business Mistakes You’re Making

You know what I see every single day? Business owners making a lot of dumb mistakes. Maybe they are covering them up with an amazing product or service, but they are ultimately doing a disservice to their patients.

Today, I talk about the ten costliest mistakes you may be making in your business.

You’re saying no to patients or telling them how to feel.

I was recently at a yoga studio where the owner was the instructor of the class. After we finished, she told us to stretch our necks because they aren’t “good” after 30. By saying that, she took away our power. Don’t take your patients’ power away either.

How does this work in action? It’s simple. If the patient asks if you can see them at 6pm, don’t say you can’t. Simply offer 5pm instead.

You’re telling a customer how to spend their money with you.

This is the most common thing I see with businesses everywhere—they don’t accept certain major credit cards! Look, if the patient wants to pay me, I’ll accept anything. Whatever they prefer. If you’re worried about AMEX charging merchants higher fees, you’re not charging enough to begin with.

You have stupid charges.

This goes with the one above. Don’t charge someone for that AMEX fee. Don’t charge for a theraband or ball. These little charges can just aggravate the customer. Charge enough that you can give away a lot of things for free, something that will enhance the customer experience.

You’re not following a proven system.

You may be spending too much time and energy trying to reinvent the wheel. Following a proven system—and improving it in the process—is only going to benefit.

You’re putting the cart before the horse.

You’ve probably heard the phrase. One of the most common instances of this is when people market without first learning how to sell. What good are 100 leads if you can only secure 10 of them? What good is a Facebook ad if you have no clue how to sell a patient into the plan of care they need?

You don’t charge enough.

You saw it coming. Of course this is on the list. The bottom line is that you should be charging enough so you can be successful, hire other employees, give your patients a great experience, etc. So stop worrying about how much it costs for you to take AMEX. If you charge enough, those worries will vanish. Hell, if you’re getting $3,500 for a plan of care, why not give away a $90 kettle bell? Your patient is worth it, the same way you are worth higher rates.

You’re charging for each service.

If someone says, “I’ll pay you $15 to needle this muscle,” don’t do it. In that situation, the patient again has power over you. You’ve just commoditized dry needling, which gives customers an excuse to price shop. (Not to mention you’re just treating the symptom, not actually fixing the problem!)

You’re investing too much in con ed.

I hear it all the time: therapists prioritize clinical skills over business skills. I’m not saying you need to go get a business degree. All I’m saying is that you are a physical therapist—you already have a leg up on your patient—so stop placing con ed on such a pedestal. It’s just as important to learn how to run a business as it is to learn that new dry needling technique.

Think of it this way: If you can learn how to be an entrepreneur, you can help more people.

You’re not working with a coach or mentor.

You had a coach for your middle school softball team, so why wouldn’t you have one for your business? (Something, arguably, much more important to you?)

You’re afraid of failure.

Your patients NEED you. They’re facing unnecessary surgery. They need help…

…and you’re spinning your wheels. You’re afraid to take action because you want everything to be perfect.

Stop sitting around. Stop the fear of failure. Take action and get shit done.

If you’re interested in learning more about the coaching opportunities I offer, go here!

 

About The Author

Aaron LeBauer

Aaron LeBauer PT, DPT, LMBT started a 100% cash based physical therapy practice right after graduation. He's on a mission to save 100 million people from unnecessary surgery & enjoys helping passionate therapists build successful businesses without relying on insurance.

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