Crisis-Proof Your Practice
How to Survive and Thrive in an Uncertain Economy
by Lynn Grodzki (WW Norton)
Crisis-Proof Your Practice, written to help therapists and other helping professionals survive and thrive during an uncertain economy, is an important tool for weathering the current crisis of Covid-19. Lynn Grodzki is considered a pioneer in the field of practice -building, and she brings a needed perspective to those small business owners who want to secure the safety of their practices during a time of global economic worry, confusion and anxiety.
As those in private practice contend with new challenges caused by the pandemic, including the parameters of telehealth, working within quarantine, cash flow problems, client cancellations, and overwhelm of helping those in need—they find that they need advice for their business as well as guidance for their personal wellbeing. Crisis-Proof Your Practice is the only book of its kind: a comprehensive, yet strategic and practical 4-point plan for strengthening a private practice during a time of crisis. It offers a supportive and informative guide to help those who own exiting practices or wish to start news ones, a plan to survive a crisis and by being well-prepared for change, thrive in its aftermath.
Readers will learn how to quickly assess the health of their existing private practices to address and then repair areas that are weakened by situational problems caused by a recession or a global shutdown. They see solid advice to minimize risk and can adopt one of the four best business models, designed to allow the practice to stay viable during and after a time of crisis.
Grodzki explains strategies for financial management, steps to take for low cost and effective marketing, and ways to prepare for the future, including how to build a practice not just to own, but eventually to sell. She inspires readers to adopt an entrepreneurial mindset to be open to change and spot the many opportunities that inevitably arise during a time of crisis.
Whether you are a seasoned clinician or new to the business of therapy, this is one book you cannot afford to be without. Any crisis, global or personal, becomes a defining moment in time. It is fraught with difficult challenges but also filled with a remarkable opportunity for making major, important changes. Today’s crisis has stripped away the surface gleam of business and society. We now see all the weak links and vulnerabilities. But if you know where and how to look, you can also see potential. There are countless prospects for new business within all healing and helping professions.
Grodzki shows readers how to discover their own latent capacity to increase profitability, resilience, and leadership. She offers a plan of action to show readers you what to do, effectively and quickly, but also to suggest how to be, to stay resourceful and calm.
As with her earlier books, Grodzki translates basic and sophisticated business concepts for those in a service, health-oriented practice. She reaches out to readers, to share with them as though they were in a private conversation, with her as their personal business coach. She offers anecdotes, examples and ideas gleaned from years of coaching thousands of clients, combining a healthy dose of tough love with compassion and optimism. This book belongs on every therapist’s bookshelf, to be read in times like Covid-19 and beyond, to refer to when needed.
Note from the author: For those readers who have picked up this book but are not faced with a current crisis, reading this for prevention is a wise move. Knowing how to avoid risk and act more strategically helps you stay successful over time. Think of this book as a fire drill – without the danger of smoke and heat at your back, I will show you how to take steps and make changes that can reduce concerns about your future. Regardless of your current situation, I offer you what I believe every small business owner needs: a crisis-proofing plan that can light your way in times of darkness or help you to avert disaster altogether.
Table of Contents
Part 1: Review
- Surviving to Thriving
Take the first step: Shift your perspective and adopt an entrepreneurial mindset to see the opportunities inherent within uncertain times.
- Crisis-Proofing in Action
Break it down: A case example of how one therapist crisis-proofed her practice to take it from struggling to successful within 4 months.
- Take an Honest Inventory
Be here now: Review your practice situation and prioritize your goals so you can begin to redirect your practice towards higher profits and a sounder footing.
- The Big Picture
Consider your context: Spot current trends and adopt the organizational strategies that will help your practice weather the crisis.
Part 2. Recommit
- Protect Your Practice
Stay safe: Evaluate degrees of risk and secure what you own while you continue to move forward.
- Cut Unhealthy Dependencies
Stand strong: Shore up areas of weakness as you build a practice that is autonomous and reflects your best services and value.
- What to Charge, When to Spend, How to Save
Eyes on the prize: Focus on profits, cut unnecessary expenses, set the right fees, package your services, and run a lean, high quality practice.
- Solid Strategies for Effective Marketing
Market wisely: Generate ideal clients and find the hidden opportunities available during tough economic times.
Part 3: ReBrand
- Have a Strong Internet Presence
Stay visible: Make the Internet work for you by learning to optimize your website, pursue social networking, and take advantage of new media.
- Best Business Models, Part 1
Position your practice: Stay viable over time as you determine the best business model from among these two desirable options – the boutique practice or the brand recognition model.
- Best Business Models, Part 2
Reach new markets: Continue your business model exploration with these profitable options, the retail clinic and the career component practice.
- Your Crisis-Proof Turnaround Plan
Put it together: Integrate the strategies so far and customize your plan to get your practice onto a cost-effective and purposeful track.
Part 4: Reinvest
- Build a Practice You Can Sell
Move forward: Craft a plan for the future with a practice that can fund your retirement.
- Fearless Change
Make it real: Explore your response to change as you learn to become more flexible, make necessary adjustments and enjoy the process of business transformation.
- Learned Resilience
Rise up: Bounce back from setbacks and develop your entrepreneurial capacity for becoming persistent and optimistic in the face of crisis.
- Crisis-Proof Leadership
Take charge: Claim your power, develop personal accountability, and stay motivated over time as you own and operate a small business.