10 Strategies for Success in Private Practice
If you recently launched a solo practice or group practice, or you’re currently growing one, you might be wondering, Okay, now what? Building a successful private practice means you need to learn how to balance being a great therapist and a savvy entrepreneur.
And private practice success means different things to different people. At zynnyme, we define success as the point where you’re making the income you desire AND your practice has great clinical outcomes with clients you love to work with. At this point, you’re also able to work on your business instead of in your business all the time.
To help you get to that place, we’ve curated a list of the top 10 tips we’ve seen transform private practice owners’ businesses over the last 10+ years.
How to Build a Successful Private Therapy Practice
Create a Counseling Private Practice Business Vision
To create a private practice business vision, first envision what you would like your ideal private practice to look like. Remember, you deserve to create a business that meets your needs emotionally, physically, and financially!
Think about what your ideal day would look like in the private practice of your dreams. Getting into the habit of planning ahead can help set you and your private practice up for success now and in the future.
Create a Therapist Business Plan
Your business plan will depend on your needs, vision, and the type of practice you’re growing. There are many moving parts to running a private practice, so remember to check out our therapist’s business plan guide if you need any support and know the goal isn’t perfection.
Enroll in Business School for Therapists
The best way to learn how to run a successful private practice is to listen to other therapists who’ve already done it. If you haven’t heard about zynnyme’s Business School for Therapists, imagine a personalized business program built for therapists by therapists. This video- and community-based training program teaches you how to run a sustainable, purpose-driven practice while making the income that best supports you.
Learn How to Market your Practice
Do you know how to market yourself as a therapist? If your answer is no, it’s okay, and you’re not alone. One of the best ways to learn how to market your business is to take advantage of free marketing trainings for therapists. This is a great option as well if you’re just starting out and don’t have a lot of money to put into hiring a marketing consultant or taking a course.
If you need more support, zynnyme has 15+ hours of free webinars for therapists to access, including a Marketing Masterclass, and some are even eligible for CEs with APA and NBCC!
Be Financially Prepared
You’ll want to determine what your startup costs will be for your private practice. We’ve created a startup cost checklist for private practice to get you started. Fortunately, the cost of starting a counseling practice is a lot less than other types of businesses.
Learn Time Management Skills
To create a sustainable, successful private practice, having a solid relationship with your clock and calendar is a good idea. This helps you ward off burnout and implement an effective time management system.
When figuring out what your relationship with time is like, ask yourself these questions:
What’s your sleep schedule like?
What’s your work schedule like? Do you show up on time or late?
Do you enjoy sticking to a schedule?
Do you often feel rushed or pressured to complete case notes or other tasks?
Do you get into the habit of scheduling both professional and personal meetings?
Do you utilize time blocking?
Find a Therapist Network You Can Trust
When it comes to growing a private practice, connecting with like-minded therapists who’ve either been in your shoes or are currently in your shoes is extremely helpful. zynnyme has a free private practice community for pre-licensed therapists online where you can connect with other pre-licensed clinicians on the journey toward being licensed mental health professionals.
Never Underestimate the Power of Support
Growing a business is no easy feat, but it’s a lot easier with the right support systems in place. Never underestimate the power of both business and personal support. We highly recommend taking time out of your week to connect with your loved ones and give yourself space to NOT think about your business. Remember: A part of running a successful private practice is to create a life you love, and that involves time for you and loved ones outside of business!
Always Reinvest in Yourself
Reinvesting in yourself can mean putting your money towards a new training to improve how you market your practice, or it can also mean spending your time and energy on an area of your life you’d like to improve. Maybe you want to spend more time reading up on emotional intelligence or how to be a better employer. We’re big proponents of doing what helps you become the best version of you.
Hire the Right Therapists (for Those Interested in Group Practice)
As you grow, you’ll want to learn more about hiring and when it’s appropriate to hire a contractor or an employee. You’ll also want to learn the importance of hiring the right therapists for your practice, how to onboard them, and what to pay them. Check out our free Group Practice: Pay Yourself and Your Employees Well training to learn more about pay!
Refine and Evaluate Your Business Over Time
Even after you’ve hit a certain level of success, it’s essential to continue to check on your business to see what’s working and what needs some adjustments. Every business can benefit from an evaluation, which can help you identify opportunities for growth as well as potential issues that need addressing.
Learn how to create, grow, and sustain a thriving private practice with personalized guidance and a supportive community by signing up for Business School for Therapists!
