When I do one on one consultations or talk with nurse practitioners over email or Facebook, it always amazes me how many hopeful nurse practitioner entrepreneurs idealize the end goal of business vs. focusing on the process of building a successful practice. This is the incorrect mindset to have. Don’t focus on the distant future… focus on the NOW.
First off, what do I mean by “idealizing the end goal?” This is when people focus on the final result of a particular action. When it comes to business, they focus on the fruits of building a successful practice, such as selling it, forming a large corporation, making a million dollars, becoming financially independent, and so forth… Listen, these are GREAT things to think about as it helps keep you motivated, but focusing too much on the END result or goal will not only slow you down, but it could lead to severe disappointment. Lets look at the those two consequences of idealizing the end goal/result vs. focusing on the process of getting there.
- Slowing you down: If you are spending too much of your mental fortitude focusing on how your new practice is going to be the best thing since sliced bed, it is going to slow you down. If you haven’t read the article about Overload Paralysis, you should. Your brain can only do so many things. It can only fit so much knowledge. Clouding it thinking about how your going to eventually sell your business, or partner with someone who is going to invest a million dollars into it, or how you are going to pay off your house in 2 years, is going to do nothing but SLOW YOU DOWN. You need to focus your energy on BUILDING that practice. Not what its going to do for you years down the road.
- Disappointment: What if the business fails? Listen, more businesses fail than succeed, and a medical practice is no different. If you idealize the end result, put it on a pedestal, and it fails, you will become so discouraged that you will never try again. I have seen this time and time again. People get SO excited and build up this grandeur fantasy of their new business, that when it fails, they sink into a depression. That will destroy the persistence you need to succeed.
You do not want either one of the above to happen to you. Trust me, I have been there… and I continue to fall into that trap. When I opened my first medical practice, which was a Suboxone clinic, I thought I was going to make tens of thousands of dollars a month within 6 months. I was very wrong… This was my first business, and I made so many mistakes with it, that I barely made a dime. I became VERY disappointed with it and contemplated giving up entrepreneurism. I am so glad I did not because I wouldn’t be here helping thousands of nurse practitioners break free…
Even today, with my 2nd men’s health practice that just opened, I begin falling into the trap of idealizing the end goal. I was thinking to myself “Oh boy, once this thing takes off, I am going to sit back and make $10,000 a month not doing anything! I am going to quit seeing patients all together and just go fishing all day. It is going to be great!”, but as soon as I begin thinking this way, I stop that thought process because it is nothing more than my mind playing tricks on me. Instead, I focus on taking ACTION to build the practice, no put it on a pedestal.
Don’t think about how YOUR business is going to make YOU wildly successful. That is the wrong mindset to have.
You need to think about how YOU are going to make YOUR business wildly successful. Do you know why? Because no one else will. Businesses don’t become successful overnight; it is the vision, the persistence, and the blood, sweat, and tears of the nurse practitioner entrepreneur that will make it successful.
Don’t idealize the end result. Focus on how to make your practice successful through marketing, service and product development, networking, customer service, and providing excellent care. THIS is how you build a successful practice.
So, the next time you begin developing these extravagant day dreams on how your business is going to make you a millionaire, STOP, and begin performing an income generating activity (like marketing or seeing patients) instead.
Shift your thought process from dreaming to taking action! Dreaming is okay to keep you motivated, but that is it. Don’t idealize those dreams and you will become more productive. I promise…