Why You Need A Strong Why To Start A Ketamine Clinic
When you see us running our business now, you may be thinking “wow, they must be so lucky that they’re doing well.” Don’t be fooled, we’ve had our struggles as well, even until now! Starting any business is no joke. Want to know how we made it this far? It’s because of our “Why.” In this blog, we’ll talk about the importance of having this “Why” if you have plans of starting your own ketamine clinic just like us.
Starting any business is difficult, even more so if it’s a medical-related business.
The Problem: Starting A Business Is HARD
Not only is it hard, but staying open can be even harder. According to the Bureau of Labor Statistics, within the first year of opening, 20% of small businesses will fail, by the second year 30%, and by the fifth year 50% will fail. Now you may be thinking, “Well I’m not any business! I am special. Ketamine is special and this is a healthcare business!!” Medical related businesses should fare a little better, right? Well, 43% of healthcare-related businesses fail, according to Dave Chase, author of CEO’s Guide to Restoring the American Dream. Ouch, not much better.
To add insult to injury, we are facing much economic uncertainty on top of the pervasive burnout physicians like yourself are experiencing, especially if you are practicing in a traditional healthcare setting. So what is a person to do if they not only want to start a ketamine clinic, but also be around for years to come?
To be able to deal with the many challenges of starting a ketamine clinic, you need to ask yourself why you’re doing it in the first place.
The Solution: Your “Why”
You will face many challenges, and we say that from the perspective of having navigated the journey you are about to embark on. Weeks before we were about to open our ketamine clinic, there was a drug shortage which unfortunately for us included ketamine! Our first reaction was, “F@#k!” After taking a few deep breaths centering ourselves, we got into action mode. We began to ask “Who do we know who could help us get ketamine? What other options have we not tried?” We started making calls, and despite the shortage we were able to get a few vials before our opening day!
To put it simply, we connected with our “Why” which is what got us out of panic “fight, flight, or freeze” mode into clear headed action mode. We had a strong “Why” and believed we were on the right path of starting, despite opening amid a ketamine shortage.
You will face any number of failures of many varieties: staffing issues, break-ins, adverse patient reactions, etc. You don’t know what, when, or how they will occur but they will. It’s life. Your strong “Why” is going to be the rocket fuel to get you through the challenges that will come with starting a clinic, and also keeping your doors open. Your “Why” will be what gives you faith and strength to continue on. Your “Why” will keep you focused and motivated.
There are many reasons why you may want to start a clinic, but not all of them are good enough reasons to keep you pushing forward.
Don’t Have A Weak “Why”
Take a moment to ask yourself, “Why am I opening a ketamine infusion clinic?” Is it because you’re tired and burned out from your current hospital job? If you are so burned out that you can’t stand patients or have become a frustrated “salty” person, then we recommend taking a vacation or negotiating working less hours first before jumping into starting a clinic. You’ll be burning the midnight oil sometimes when you start and run your own business. When you are rested, revisit the idea of starting a ketamine clinic.
Should you really leave your hospital job to start a ketamine clinic? Read our blog on this topic to help you decide.
Are you starting a ketamine clinic because you’re not making enough money and need the clinic as another instant source of income? Are you wanting to own a ketamine clinic because being an entrepreneur is popular and you want to become some psychedelic influencer? While these are all valid reasons, they are surface level and not very deep. A strong “Why” cuts through these surface level reasons. We were burned out and that contributed to our decision to start a ketamine clinic but it wasn’t our “Why”. The “Why” resides beneath these initial reasons.
Your why, which is different for every person, should be powerful enough to keep you strong and motivated throughout your ketamine clinic journey.
What A Powerful “Why” Looks Like
A powerful “Why” is the rocket fuel to launch your practice into reality. In other words, it contains a powerful energy to it. It’s the extra burst of vibrancy to get you through filling out forms. It’s the sliver of inspiration when you aren’t sure what to do when the location your heart is set on becomes suddenly unavailable.
It is unique to you, your skills, experiences, values, and purpose. If we may give some advice regarding your “Why,” don’t waste your time trying to perfect the wording or be the reason holding you back from taking action. Your “Why” likely will evolve over time. What is important is that it speaks to you. Your “Why” will move you, and you know it is truly powerful if it can take your breath away or cause you to tear up a little. We bet that on some level you already know your deep powerful “Why,” but have yet to fully verbalize it!
There’s no doubt that you can have a “weak why” to start a ketamine clinic. But a “strong why” is what propels you forward.
Final Thoughts…
Can you have a weak “Why” or simply have a practical reason like “to make more money” and still start a ketamine clinic? Of course! Already being a doctor and healthcare professional, you have the grit and determination to do anything! Think of it this way, a strong "Why" is like a loving parent pushing you, a newborn (ketamine clinic owner) in a stroller through the challenges you will face.
We bet that you are tired of dealing with the EMR at work, or feeling the weight of administrators telling you how to bill and code, or frustrated by lower reimbursement despite working harder.
We've been there, and guess what? When you open your ketamine clinic these frustrations and challenges get replaced with struggles unique to being a ketamine specialist and new business. That's where that strong "Why" is key to keep you pushing forward. So sit down, and let your "Why" push and propel you!
Are you ready to take the next step? Join our email list and be notified about the next free webinar and open registration for Ketamine StartUp.
We all have our own reasons why we want to start a ketamine clinic. However, some are stronger than others. Does it even matter if one is strong or weak? It does, actually. In this blog, we talk about the importance of a strong why.
Explore the professional and personal growth in opening a ketamine clinic with Dr. Leslie Koenig in this interview excerpt from our podcast.