When your first start a new business, you are told the numbers of a business failing are stagering! So many people tell you why it won't work, at times you feel like you have lost your head in your pursuit of a business model!
When we started 9 years ago, we were told to watch your business closely, there is a better chance you will fail rather than succeed.
As an example, there was a less than 35% chance PTW would make it past the 9th year
(http://blog.globalbx.com/2008/10/06/small-business-statistics-and-failure-rates/). Also, we were in the beginning of the stock market losing up to 40% of its value, causing many to lose jobs. Banks became more stringent with lending practices, making money harder to come by.
Happy to say, we are still doing our work, creating opportunities for folks to come see us in order to achieve higher levels of function and performance.
Remaining steadfast to our mission (To Deliver Quality Driven Physical Therapy and Quantifiable Fitness/Wellness Services to our valued customers while exceeding their expections in all areas of the delivery of care), we work off old fashion principles of good business including:
1. Exceeding expectations
2. No wait Therapy
3. Emphathetic listening skills
4. Living with Urgency in our day
5. Creating good will (kitcen table conversation)
Although there is only a 10% chance we will be here 10 years from now, I have a feeling that its gonna be a good outcome and we'll still be standing.
So, keep your head together and communicate constantly your message with your employees while remaining steadfast to your core values, your mission, and the principles that guide your business...its all it takes to keep it going!
Robert Babb, PT, MBA