Turning Dreams into Action: A Roadmap for Group Practice Owners
As entrepreneurs, we often start with a dream—a vision of how our business will shape our future. For group practice owners (GPOs), the goal is typically to build something that not only impacts your community but also enhances your personal life. However, it's only when you define what that future looks like that you can begin turning those dreams into tangible results.
But how do you get from dreaming to doing? It starts with creating a roadmap and a clear plan to guide you toward your destination.
One of my favorite business books, Traction by Gino Wickman, walks through the process of setting 10-year, 3-year, and 1-year goals. Over the years of working with GPOs, I’ve learned that the idea of planning for 10 years often feels overwhelming—10 years feels too far off. So, I suggest a more practical approach: Start by looking 5 years down the road.
To help you navigate the future, here’s a framework for breaking down your goals over the next 5 years, 3 years, and 1 year:
5-Year Goals: Visioning Your Future
Take a moment to envision where you want to be in 5 years. The more specific you can be, the better. Answer these questions to begin creating your roadmap:
What will your home life look like in 5 years? Consider the balance you want between work and personal life. Will you be spending more time with family? Will you have the flexibility to take vacations or enjoy hobbies?
What do you want your clinical schedule to look like in 5 years? Think about the amount of time you want to dedicate to seeing clients. Will you have more time to focus on leadership, or will you still want to maintain a heavy caseload?
What kind of income do you want to be taking home for yourself? Consider the financial freedom you want. How much do you need to cover your personal and business expenses comfortably?
What does that mean for your practice? Based on your desired income, calculate how many sessions need to be seen at the rate you’re currently charging. This will help you determine the scale your practice needs to achieve.
What would you want your group practice to provide for the community? Think about the impact you want to have. How many clients do you want to serve? What types of programs or services would you like to offer?
3-Year Goals: Taking Action
Now that you have a 5-year vision, it’s time to break it down further. What needs to be in place in 3 years to ensure you’re on track for your 5-year goals? Review the same questions and start identifying milestones that will pave the way.
1-Year Goals: Immediate Focus
Next, turn your attention to the next 12 months. What concrete steps will you need to take in the coming year to hit your 3-year goals? Be specific and practical in your approach.
Ask yourself:
How will your marketing need to evolve? What strategies will you implement to attract new clients or expand your reach?
Where should you focus your energy? Prioritize the areas of your business that will move the needle toward your goals.
Who do you need to bring on board? Identify the team members or partners who can help you achieve your vision.
What do your numbers tell you? Review your financials to see if there are areas for cost-cutting or places where investment is needed to scale.
Turning Tension into Excitement
As you begin to chart out these timelines, how do you feel? When I recently went through this exercise, I moved from tension and uncertainty to a sense of excitement. Instead of wondering if my dreams were realistic, I was able to articulate exactly what I wanted and needed—and, more importantly, I created a detailed plan to make it happen.
By breaking down your dreams into measurable, actionable goals, you’ll be able to transform your vision into reality. Your dreams are within reach, and with a clear plan, they’ll soon become the foundation of your success.
Are you ready to take your group practice to the next level? Start by setting those 5-year, 3-year, and 1-year goals, and watch your dreams unfold.
