How can I act like a CEO for my practice?

Video Transcript

Terrie S. Wheeler: When you’re in private practice, it doesn’t matter what industry you’re in, you are the CEO of your practice. Chances are, you didn’t learn the skills that you need to be a CEO in law school or in business school or graduate school. What that means is that before you embark on a practice of your own, you really need to learn some business skills.

There’s a book that I recommend and it’s called the E-Myth. Now, there are different variations of the E-Myth, and you might wonder what does the E stand for. Well, it stands for entrepreneur. Anyone who is running a practice, whether you’re in a firm or really out on your own, you truly are the CEO of your practice.

What does that mean? It means that you have to develop, among other things, systems and processes that are going to allow you to be able to replicate those processes in the future so that you’re not always reinventing the wheel. It means that you need to take time away from your practice to work on your business instead of in your business. People who think they’re entrepreneurial will go out, they’ll start a practice, they’ll think they’re business owners, but then all they end up doing is working 24-7 because they’re not taking any time to step above their business and figure out what do I need to be successful? How can I delegate? How can I pull others into my practice to help me achieve the goals because I’m not going to build an enterprise with me, myself, and I. I’m going to need to acknowledge that.

But most importantly, it’s realizing that you may not have the skills you need to be an entrepreneur and because of that, we’ve spent a lot of time and energy putting together webinars and blog posts and articles to walk you through step-by-step the skills and techniques that you can learn, you can do this, to be the entrepreneur that I know you are in your heart and soul. Further down on this page, you’re going to see different webinars as I mentioned, articles, blog posts. You’re also going to see a page where you can contact us. If you have a question about the entrepreneurial side of your practice, we hope that you will click and contact us so that we can engage with you and answer your questions because you can be the CEO of your practice.

Learn more about Terrie S. Wheeler.