Chapter 2: How to build the business?

Why do people do business?

  • Money
  • Growth
  • Hate job
  • Want more free time
  • other

If you you build the business only for above reasons it will grow but not it will be not the world class business solving bigger problem.

Best way to do business is to solve a problem. If you give solution to a bigger problem you have built the bigger business. Naveen Jain

What is business?

Business is defined differently by different experts. I liked the definiation of business by one Indian- American entrepreneur   Naveen Jain. For more details please refer to blog on Naveen Jain

“If you find and/or  give a solution to the problem that is business. If you want to build a 1 billion dolor business solve a ten billion dolor problem”. Naveen Jain.

Robert Kiyosaki has very well explained the different cash flow quadrant.

Business School

BI triangle : By Rich Dad Poor Dad. Robert Kiyosaki.

Robert Kiyosaki says to build a good and sustainable business everyone need to understand be good at all the different domains of this triangle. Most of the physiotherapist the focus on the product or service. They only improve their therapeutic skill. Try to become more expert in the services quality only. By doing this you are actually preparing yourself for self employment quadrant more than Business quadrant.

For more details please refer to blog on Financial education by Robert Kiyosaki

I studied the triangle and understood importance of each component. I also invested a lot improving my services as neuro therapist by learning different neuro rehab concepts through workshop and certification. But soon realized that is only a small portion of the triangle.  Then i looked at the outer borders of the triangle.

Leadership, Team and Misssion.

Leadership

First i focused a lot on leadership domain of the triangle. Any business to be successful you should have great leader who will build a team and guide they to the mission and goal of the business. His job is to keep every member of team to be motivated and focused on the purpose of the business. For leadership training i worked on theory and practical part of it. Theory i learned from Simen Sinek videos and books ( Starst with why and Leaders eat last). for more details please refer to blog Leadership: Simen Sinek

Practical: For practical purpose you can join or select one of the managerial post in your dept. In 2014, i had applied for the post of HOD of physiotherapy and rehabilitation dept in Sancheti Hospital with 27 staffs in dept. Being HOD of dept for 3 years helped me to learn how to solve the problems of the team ? How to deal with management? How to lead the team and keep them motivated always. This helped to grow as leader. for more details please refer to my blog Being HOD of  physiotherapy dept.

Team

My all the success credit goes to my team. Fortunately i could build a great team. Please refer to my blog how to build the dream team.

As a leader you need to invest a lot in your team member. We have weekly two lectures for the staff training and development. Every Tuesday we have Business management lectures and Thursday we have lecture or case studies on neuro rehabilitation. So invest lots of time in their personal financial and professional growth.

I say…

If the team members grow then the department /company grows. But if  department grows doesn’t mean that memebrs/employees grow. Gajanan Bhalerao

Mission

You should have a mission, a cause which driven by masses or society driven. Mission to solve problems of multiple people. If you cause and purpose genuine and touches the masses people will join with you for the cause. People like my purpose and mission so they help me a lot in building this business. Some of them provided me place for minimal amount. I never have shortage of staff or employees because new budding physio keeps joining me to learn and help me achieve my goal and mission.

GB school of rehab Mission is

“…….Making neuro rehab simple”.

“Changing the methods learning  and practice neuro rehabilitation to make motor learning and motor control simple.”

“Providing intensive training and ample of practice to subjects wiht neurological dysfunction.”

“Teaching physiotherapist, how to start and run their start up business”

Inner Triangle 

The base of the triangle is cash flow. This is the most import component. Most of the business fails because of poor cash flow. It doesn’t mean the capital investment.

you may get capital investment from different investors, but your business should have its own regular cash flow.

We will take example from our physiotherapy field. If you start a orthopedic rehab based physiotherapy, your most common patient are back pain, neck pain.   Which can be managed in few weeks to a month with pain modulation and rehabilitation. That means you will have to search new patient every month.  If you dont get new cases regularly it will stop your continuous cash flow. Solution for these is you will have get as many new patients possible. (average 3-5 new patient /week)

Whereas  in neuro rehab, every  patient requires rehabilitation from few months to years. So the patients stays will you for longer period and you will have continuous cash flow.  Even if you add one new patient / month, by the end of the year you will have many    patients (12 patients) . That is why i have selected neuro rehab field.

Communication:

You should have great communication skills. This helps to build huge contacts and long lasting relationship. If you build good contact and relationship you dont have spend lots of funding on advertising and marketing.

System :

This is the key element for smooth running of the business even in absence of business owner. If you create the great system, it will run on its own and your day today involvement will be less in daily operations. So you can focus on your business growth and planning.  To build good system you need to study your services, team, build stander operating procedures and protocols.

Legal:

You need to protect your assets and intellectual properties by copy righting it, or othere legal means. Select appropriate type of company for registration. (refer to chapter 4 for company registration details. )

Product / services:

Although it has small space in BI triangle doesn’t mean it has less value in business. You should focus building and providing quality services in physiotherapy and rehabilitation. Invest in skill training for quality of services in physiotherapy an rehabilitation.

Why do this?

  • Because it gives new readers context. What are you about? Why should they read your blog?
  • Because it will help you focus your own ideas about your blog and what you’d like to do with it.

The post can be short or long, a personal intro to your life or a bloggy mission statement, a manifesto for the future or a simple outline of your the types of things you hope to publish.

To help you get started, here are a few questions:

  • Why are you blogging publicly, rather than keeping a personal journal?
  • What topics do you think you’ll write about?
  • Who would you love to connect with via your blog?
  • If you blog successfully throughout the next year, what would you hope to have accomplished?

You’re not locked into any of this; one of the wonderful things about blogs is how they constantly evolve as we learn, grow, and interact with one another — but it’s good to know where and why you started, and articulating your goals may just give you a few other post ideas.

Can’t think how to get started? Just write the first thing that pops into your head. Anne Lamott, author of a book on writing we love, says that you need to give yourself permission to write a “crappy first draft”. Anne makes a great point — just start writing, and worry about editing it later.

When you’re ready to publish, give your post three to five tags that describe your blog’s focus — writing, photography, fiction, parenting, food, cars, movies, sports, whatever. These tags will help others who care about your topics find you in the Reader. Make sure one of the tags is “zerotohero,” so other new bloggers can find you, too.

Published by iphysiopreneur

This website is developed for training and empowering entrepreneurship in physiotherapists

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