The 3 Types of Practice Owners – Which One Is Most Likely to Succeed?

Type 1: “The Driver” – They work hard and have achieved a fair amount of success. They don’t utilize a lot of employees. Keeps overhead low. Focuses on treating patients extremely well. Don’t have much internet presence (Google, Facebook, Youtube, etc.). Rely on physician and word-of-mouth referrals. Don’t have much time. Juggles business, family, and personal life (but it’s not easy)…and don’t have much of a social life. Let’s their health go a little bit…all in the name of “priorities” and “sacrifice.”

Type 2: “The Driven” – This group works hard but knows it’s temporary. They understand the need for employees (but doesn’t train them as much as they should). Believes that in order to make money, one has to spend money. Balances patient care with reimbursement challenges. Has a website that ranks on Google. Has good Yelp reviews but is a novice when it comes to Facebook and social media marketing. Doesn’t have much “free” time but knows it’s temporary. Juggles business, family and personal life (but it’s not easy). Has a social life…which is their “escape”. Personal health is important but doesn’t get to work out as much as they should.

Type 3: “The CEO” – This person works but also delegates fairly well. They rely on employees and trains them to the best of their ability. Believes in systems and automation. Focuses on profit but understands the importance of patient satisfaction. Ranks high on Google. Gets a fair amount of new business from the internet. Dabbles in Facebook marketing. Not much in Google adwords. Has Youtube videos but mostly for exercises and tips. Has free time but not as much as they would like (but they also enjoy “business”). Has a social life but few “close” friends. Works out, eats healthy, takes supplements and is fairly healthy.

Who do you think has the greatest chance for success 10 years from now (2027)?

Why?

Give me your answer and opinion below.

Thank you!

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James Ko
 

I believe... "It's not the strongest practices that survive and grow, nor the most intelligent, but the ones most adaptable to change." I'm a physical therapist, private practice owner, and founder of IndeFree Association. I like reading James Patterson, Nicholas Sparks, enjoy golfing and playing guitar. I love playing with Mac and Cozy! For over 15 years, I've helped thousands of practices grow and succeed. This is my dedication.

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