Greetings, dear listeners of The Wise Practice Podcast! Welcome back to another captivating episode where we delve deep into the realm of expanding your practice in a manner that may catch you off guard. I am your host, Whitney Owens, and today we are joined by two extraordinary guests - Stephanie Korpal and Christy Pennison. Prepare yourself to uncover the untapped potential of collaboration as we embark on this journey through their shared wisdom.

About Our Special Guests

Stephanie Korpal and Christy Pennison are both group practice owners with multiple locations. Both women are passionate about their group practices, teams, and communities they serve--Stephanie in St. Louis and Chicago, Christy in central Louisiana (Alexandria and Natchichoes to be exact). That passion also extends to fellow group practice owners, a role they both know takes so much! Together, they have founded and launched a unique, special place for group practice bosses to connect, collaborate, and crush it. Their business, The Practice Collab, is designed to help practice owners work less, make more, and live most.

The Dynamic Duo: Cultivating Relationships and Thriving Together

Stephanie and Christy kickstart the conversation with a profound insight: "As Christie mentioned, one without the other will not lead you to where you can truly go." It's all about combining the enchantment of mentorships and collaborations. They emphasize the importance of nurturing both types of relationships in order to achieve a harmonious and successful practice. They underscore that while this journey is incredibly rewarding, it requires time, commitment, and a willingness to learn from our missteps.

Stephanie wisely acknowledges, "It takes a toll on you, and it takes a couple of years to reach that point...to discover more about yourself and how to overcome self-imposed obstacles." The key takeaway here? You don't have to navigate this path alone. Collaboration is the secret ingredient that transforms isolation into connection, and blunders into invaluable lessons.

ROI on Collaboration: Saving Time, Energy, and Resources 

The duo delves into the ROI (Return on Investment) of collaboration, shedding light on how it can revolutionize your practice. Christy explains, "One aspect she's referring to is simply the return for your mental energy and emotional well-being." Collaborators become an invaluable support system that empowers you to navigate challenges with enhanced efficiency.

Christy beautifully articulates the value of collaboration: "It saves you time; it saves you money...the sharing of resources...can prove immensely cost-effective." Both Stephanie and Christy emphasize the importance of leveraging the experiences and knowledge of others, enabling you to accelerate your growth.

Combating Solitude and Overwhelming Decision-Making 

As the conversation unfolds, they uncover yet another hidden gem of collaboration: combating loneliness. Christy shares, "Loneliness is a genuine experience because even within collaboration, one can still feel lonely. However, I do believe that collaboration helps alleviate that feeling of isolation." Stephanie adds an intriguing perspective: "Another aspect I appreciate about conversing with fellow practice owners is that they are the only ones who truly comprehend the nature of your profession." They emphasize that connecting with fellow practice owners provides a unique space for validation and understanding.

Taking the First Step: Discovering Your Tribe 

Wondering how to dive into collaboration? Stephanie and Christy reassure us that taking the first step is paramount. Christy emphasizes, "You simply have to initiate it...most practice owners are quite open to engaging in conversations." They suggest reaching out through local community groups, social media platforms, or even joining existing communities. Stephanie eloquently summarizes it by stating,"You can never have too many friends who are also group practice owners." The power of connection and shared experiences can transform your journey from a solitary struggle into a collaborative adventure.

Investing in Yourself: The Path to Growth and Fulfillment 

Transitioning into the realm of investment, Christy opens up about her personal journey:"I have invested an amount equivalent to purchasing a new vehicle in consulting and coaching...this investment has enabled me to learn how to grow in a sustainable manner." Both Stephanie and Christy echo the sentiment that investing in oneself yields immense rewards, leading to a more enriched and fulfilling life.

Unveiling The Practice Collab and Beyond 

The conversation concludes with an exhilarating announcement - the birth of "The Practice Collab." Stephanie and Christy share their passion for creating spaces where collaboration, intentional work, and community thrive. Through virtual coworking weekends, in-person collaborations, and ongoing support, they are crafting a unique experience that assists you in navigating overwhelm and achieving your goals.

And, let us not forget to explore Christy's podcast, "Inspiring Possible," where you will discover tales of individuals who transformed their dreams into reality.

Action Steps: Your Path to Thriving Collaboration

Feeling inspired and ready to take action? Here are a few steps to get started:

• Reach Out: Don't hesitate to initiate conversations with fellow practice owners and therapists in your community.

• Invest in Yourself: Consider consulting, coaching, or collaborative experiences as an investment in your growth and well-being.

• Create Connection: Whether through existing communities or new ventures, seek out spaces that foster collaboration and intentional work.

• Mark Your Calendar: Stay informed about upcoming events, like the Wise Practice Summit, where you can learn from experts like Stephanie and further your practice journey.

Show Sponsor

• Green Oak Accounting: GreenOak Accounting is a firm that specializes in helping mental health practices like yours better understand their business finances!

• Join Profit First Academy: The Fall enrollment for the Profit First Academy opens on August 25th and closes at midnight on Labor Day! And the first 50 people to enroll will receive a free Instant Assessment video review from one of the GreenOak Profit First experts! You don’t want to miss out on this unique opportunity!

Links and Resources

• The Practice Colab

• The Practice Colab on Facebook

• Podcast Inspire Possible

• Subscribe to the Practice Colab Newsletter

• Wise Practice Summit

• Whitney Ownes on Instagram

Podcast Production and Show Notes by Course Creation Studio