Business vs Therapy
Whats the true difference?
This section delves into the topic of business ownership as a therapist.
Understanding the crucial steps of a business owner, that could make or break the progress of a business. Read along to learn about the lived experiences from business owners.
A major barrier when discussing the topic of business ownership with most of the occupational therapists was the overall business knowledge. Participant 9 stated, “I would say the biggest hurdle is like having no idea where to start.” Which is an important factor when discussing running and operating a business, the administration side is crucial. Participant 10:
When you have a business, it's like all of the administrative tasks. So that could range anywhere from like filing your LLC. Understanding your taxes, your bookkeeping. Figuring out all of the different platforms that you might have so. You know, I have a platform that holds all of my content and then I have a platform that is my electronic records management platform.
On the topic of business knowledge, the question next addressed is: Are we learning the right skills in grad school to best prepare an OT for business ownership? There are many quality skills we are learning but when it comes to business there seems to still be a disconnect.
During the research conduction, survey was taken from 31 different occupational therapy professional non business owners. A question addressed OT school business preparation to discuss insurance rates. Which is a major component of business ownership on the administration side. Resulting in 64.5% of all participants feeling under prepared. In addition to interviews and surveys conducted observation hours took place within the classroom of administration course to assess the barriers to business ownership as a student. One major takeaway is the discussed topic of insurances. There seems to be a generalized need to delve into the topic more prior to fieldwork, others might not learn the same valuable skills of business ownership during the internship experience. Therefore, these skills need to be addressed cohesively in a school atmosphere more regularly.
Leading to a possible barrier in the interest of the therapist when considering the role of a business owner. Participant 2 stated, “We're not business people. We actually have very little interest in business in general. I always swore that the one thing I would never do is open my own OT business.” For many the intimidation of becoming self-employed will deter them from even taking the leap.