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Do you want to grow your practice into a million-dollar practice? Do you know what to look for when hiring clinicians? Do you know how to keep your people motivated?
In this podcast episode, Joe Sanok speaks with Kasey Compton on how to start a million dollar by knowing that people are the difference.
This might not be for everybody. But, some of you out there want to start a million-dollar practice. You know inside of you that you could scale huge, you could impact your community, you could make a lot of money, but, even more importantly, you could be able to serve so many more people.
If you want to start a million-dollar practice. If you want to grow, know the systems, and have us help you, Kasey Compton and I are launching a brand new Mastermind starting soon. It’s called: How to Start a Million-Dollar Practice.
It’s going to include:
- Having time at Kasey’s office learning directly from her
- Coming to Traverse City with me to learn about marketing a practice
- A year of us teaching and walking you through exactly how to set it up so you can have a million-dollar practice
To apply for this Mastermind Group, head on over to practiceofthepractice.com/milliondollarpractice.
Meet Kasey Compton
My area of specialization is in anxiety and panic disorders. I work with clients from early childhood to ages 65+. I use a very successful treatment program to reduce and/or eliminate the anxiety and panic that you are experiencing in your life. All of my clients who have completed this program have experienced significant results. I look for people who are dedicated and willing to commit to the treatment process. These clients are always the most successful!
- Website: https://www.mindsightbehavioral.com/
- Facebook: https://www.facebook.com/mindsightbehavioral/
Kasey Compton’s Story
In This Podcast
In this episode, part five of five in the podcast series, ‘How to Start a Million-Dollar Practice’, Kasey Compton provides an overview of the five phases of starting a million-dollar practice. These include purpose, planning, process, profit, and people. In this podcast episode, Kasey provides insight into what you should look for when adding people to your practice.
5 Phases of Starting a Million-Dollar Practice
- Purpose – knowing what your purpose / passion is & how you choose to impact your community. Define your ‘why’.
- Planning – market research, knowing reimbursement rates etc. if you’re insurance-based, cost of living, what insurance do most people have?
- Process – in order to make your private practice scalable and effective, you need to have processes and systems in place.
- Profit – looking at your numbers, i.e.: top-line revenue versus profit margins, looking at your profit and loss statements – seeing everything from a percentage-based point of view.
- People – finding people that support your other 4 ‘P’s’, that support your purpose, that are team-players and that are willing and excited to be participants in your process. People that are hungry for growth and share your perspective in the field.
People Are the Difference
You need to know your purpose and culture before you bring people on. It is important to align clinicians with your purpose and culture. Finding the balance between managing people and running your business is important. You need to have processes in place and understand your profits before you bring people on.
When you have the right people working for you that are aligned with your purpose / culture, your marketing will become a whole lot easier.
- Apply for the Million Dollar Practice Mastermind
- How to Start a Million Dollar Practice with Kasey Compton: How to Make a Profit 4 of 5 | PoP 304
Meet Joe Sanok
Joe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners that are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.
Thanks For Listening!
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HOW TO START A MILLION DOLLAR PRACTICE WITH KASEY COMPTON
PEOPLE ARE THE DIFFERENCE 5 OF 5
Welcome back to the Practice of the Practice podcast. I’m Joe Sanok. We’re here with Kasey Compton.
INTRODUCTION[JOE] How are you doing today, Kasey?
[KASEY] I’m good. How are you?
[JOE] It’s been quite the sprint here around launching a million-dollar practice. We’re on day 5 of this which is the People day. We’ve covered 4 days talking about Purpose, Planning, Process, Profit, and now, People. So, if you missed any of those, go back to the beginning, follow the kind of a whole thinking that Kasey’s been covering. Today we’re talking about People. Where should we start here?
[KASEY] Well. Eventually when I had written out some notes for this, I had called this step exploding your practice in a good way. And, I save People for last mostly because it’s the step that I think was the hardest learned lesson for me personally in my company. Although, I did not bring people on rapidly, I brought people on without knowing my purpose. And not having my purpose in my culture, clearly defines the route. And so, when I brought people on, if you don’t know your purpose, if you don’t know your culture, you don’t really know what kind of people to bring on. I mean they look good. They have a license. They can articulate. You know, they graduated from an accredited school. Great! You’re hired.
[JOE] Those were always like the bare minimum.
BRINGING IN PEOPLE[KASEY] Yeah, I know. We’ll see. You know. You just don’t know because you don’t know I am looking for people that have this personality trait. You know, I don’t know. It’s just so different now. In the interview process and hiring process, for people now versus in 2015. What I look for in a clinician is totally different. I see things now. They may look great on paper, but they have this one personality trait that I know that it’s not just going to be a good fit. And so, I will just pass. After like I’m saving them for my bad experience. I’m saving myself. So, the people are just so important. So, I guess I wanted to say that I know this has been a very quick process and we’re just hitting the how, what of creating and scaling a million-dollar practice. But, really, what operating a behavioural group is just a huge juggling act.
How many things can I keep up in the air simultaneously? It’s all about timing and strategy. And, there’s really no right and wrong way to do it but just finding that balance in your company. It’s just the same with finding that work-life balance as a clinician that it’s so important for your sanity and it’s so important for the culture of your family and everything. So, I think, you know, you’ll hear me talk about strategy and bringing people on at the right time not too soon and not before your process, and not before you figure out your profits. Because there’s a lot of things when people are concerned that just get very convoluted and complicated. So, you want to figure out all the other stuff first. So, that way, when you bring people on, they are a good fit for your company and share that same vision and perspective on the field that they walk into something that already feels amazing. Because when you have a group of happy, motivated clinicians that all have purpose and share the same purpose as you do, you’re marketing instantly, you’ll scale a lot easier.
You’ve got 50 people that are all out here waiting for your company and believing. So, it just really changes everything.
COMMUNICATION[JOE] What are some ways that you kind of keep communication going that you bring up people’s kind of best that you create a sense of connection? Like, I know one thing. You’ve shared us that you have like a monthly Skype call or Zoom call that you kind of talk about things. Take us to a couple of those practical things to kind of keep people engaged with the company.
[KASEY] Well, one, I noticed that just choosing our applicants more carefully, bringing on the right people that are going to participate in a lot of things. We have a closed Facebook group and that’s great because nobody checks their email. And so, if I have something I want to say, if I just put it out on the Facebook, everyone sees it. We’ll do something just very random give-aways, prizes. I stole your idea of the wins. And so, we do a weekly win on Friday and I do a random drawing. They get their prize. We do different things like catching with your shirt on. If any of the administration… I know!
[JOE] That’s good.
[KASEY] Yeah. We’d like to have people were close.
[JOE] There should be a guiding principle.
[KASEY] Yeah. But if so anyone in administration catches anyone out in the community with the shirt on, they snap their picture, they post in on the Facebook group. They win a prize. We try to do just a lot of checking in. We do a lot of community events. We encourage families to bring their kids. If you look on our Instagram page, you’re probably going to see a lot of my daughter who goes with my husband to do a lot of our events. She’s kind of our little mascot. So, just encouraging that. We do monthly staff meetings. We do above and beyond which everyone on the staff votes and we give a couple of words away each month. We have a big employee of the year awards, big plaques, just a lot of motivational things.
[JOE] That’s great. I think those are some great kind of quick tips on finding the right people. What else do we need to cover because I know we’re getting close to the end of our time for our blitz of podcast? What else should we hit on regarding people?
[KASEY] You know, that’s really just finding the people. I will say the book The Ideal Team Player that I spoke about last time was huge for us. Just bringing that and to surely being able to charm in who you’re looking for through and through and not compromising on those just because you need somebody
[JOE] Awesome. Well, we’ve covered a lot for a short period of time, Kasey. So, we’re starting a new mastermind group. It’s going to be starting in July. There’s 12 spots for it. It’s going to be a 12-month mastermind group really walking you through getting to that next level, getting to that million-dollar practice. You’re going to get 2 days down with Kasey at her practice, 2 days with me and work on your marketing here in Traverse City. You’re going to get 90-minute teachings and hot seats where we can dive in to your business and also learn from Kasey’s expertise. I’m also going to be doing an hour-long Q&A in marketing and branding your practice. We’ll cover social media, all those things that it’s hard to really know what to do next. And, you’re also going to get everything packaged which is all of Kasey’s kind of tools, tricks, processes, and systems that she uses – private Facebook group, techs and phone support. We would love if you’re a fit if you could join this mastermind group. You’re going to apply over at practiceofthepractice.com/apply. And, if some reason that’s not a fit, we will pair you with whatever that next best phase for you.
Thanks, so much Kasey for being a part of this series. It’s been amazing!
[KASEY] Thanks for having me.
[JOE] Well, have a great weekend, everybody. Thanks for letting us into your ears and into your brain. And, we’ll talk to you next Tuesday. See you! [So, if you want to join this mastermind with me and Kasey, and you want to build a million-dollar practice. Head on over to practiceofthepractice.com/milliondollarpractice to learn more and to apply. We would love to have you in that group. Also, thanks to band Silence is Sexy for your intro music. And, this podcast is designed by the accurate and intuitive information in the subject matter covered. It’s given to the understanding that neither the host, the publisher, the guests are rendering legal, accounting, clinic, or other professional information. If you need a professional, you should find one.]