Is your Money Story Impacting Your Private Practice?

Is your Money Story Impacting Your Private Practice?

As therapists, we LOVE to tend to love to see the big picture and help people find the path to ease in making deep changes in their life. Often, that shift happens when people become aware of what is driving them to repeat old patterns that don't serve their current life, circumstances, and goals. 

And yet, when you talk to therapists about private practice finances or the financial success of a business, it often gets boiled down to- am I attracting enough clients? As a business owner, you can have a full private practice, and still not make a profit!

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Costs For NOT Starting A Private Practice

Costs For NOT Starting A Private Practice

20 mustard yellow charts sat on my desk, all needing to be approved for compliance. I had meeting with clinicians to review cases - cases being people who were struggling and really depending on our agency to help them. There was a complaint at the front desk that I needed to respond to as well as staffing questions. Really? This was it? This is what I spent all my time in school for? I loved the people I worked with, but the work itself was getting so hard. 

I remember dreaming about my work. I never envisioned private practice really. I just envisioned the people and being in a room with someone, holding something so sacred that no one else was privy to. I remember wanting to simply help. 

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Interview with Vonda

Interview with Vonda

Thank you to Vonda, founder of Nutrition is Therapy, for distilling your knowledge about nutrition and it's role in psychotherapy. 

This is a must listen for any therapist who is in private practice and is feeling stuck with their clients.  

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The Confident Private Practice Series Part #3: Be Present

The Confident Private Practice Series Part #3: Be Present

You know why confidence is important, who you are, and you are leaning in to be more YOU in your private practice… what is next? This is one of the hardest steps in the process long-term. In order to build confidence, you have to practice being more present in three main areas. You need to be present when you DO feel confident, you need to be present when you feel anything but confident, and finally you need to be present when you feel checked out. 

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LIVE Mini Bootcamp: Week 2

Welcome to Lesson #2 on How to Set your Fee!. Here is what you need to do:

1) Watch the video

2) Calculate fee for current financial goals

3) Evaluate revenue streams and assess if they are viable for your financial goals (insurance companies

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Virtual Assistants for Therapists

Virtual Assistants for Therapists

Always love sharing interviews and podcasts with y'all that relate to getting you more confident to create your happy practice! Today we are going to be talking about virtual assistants and outsourcing. We are going to be sharing fun ways you can start outsourcing from the VERY beginning (with a TINY budget) as well as how to interview someone for full-blown outsourcing. 

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5 Reasons Why You Should Join Bootcamp

5 Reasons Why You Should Join Bootcamp

You may have thought about joining our bootcamp or this might be the first time you have heard of it. You can learn more about it here.

So I wanted to breakdown the top 5 reason why you should consider bootcamp.

5. Start Now. We give immediate access to an initial consult script and jumpstart modules so you can start working on your practice immediately. 

4. Current Training. Every round of bootcamp (twice a year) parts of the trainings are up dated to stay current and relevant with what is going on in the business and marketing world. 

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Podcast: Mud Runs, Spartan Races, and Private Practice Inspiration

Podcast: Mud Runs, Spartan Races, and Private Practice Inspiration

I was so honored to be on this podcast with Matt Bierds, LPC. We had a great, real conversation about what it takes to be successful, where people get stuck, and what inspires me. I even shared my thoughts on how physical training and outside experiences can mirror what we do in building our businesses. I even share how and why "shouting expletives" might be added to one of our Business School Bootcamp checklists. 

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5 Steps to Find Out How Many Clients Need You

I was making a presentation to the Seattle Division of the Washington Association of Marriage and Family Therapists and made a statement to the audience: "There are more than enough clients to fill every single practice of all of you- and all of the other private practice therapists in Seattle." 

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Private Practice: Out of the box with intensive retreats

Out of the box therapy intensives

Out of the box therapy intensives

I LOVE meeting therapists who are thinking out of the box about the ways we can help heal our world. And no, I don't mean out of the box unethical, dangerous! I mean, well-trained, caring clinicians who are committed to providing excellent outcomes for clients. At the EMDRIA conference this week I met Dr. Ricky Greenwald in person. I have seen his name online via the EMDR listserve for several years, so it was fun to put a face to a name! And, fun to introduce myself because he had NO idea who the heck I was! 

Of course, I still convinced him to do a video interview with me! Be inspired by his story of launching intensive therapy retreats focused on great outcomes for clients. Watch below, and then post your questions, or your out of the box ideas for providing excellence in clinical services! 

 

How cool is this? A little brain storming about what to do with an empty apartment leads to a breakthrough about how to provide services to clients in need. You can learn more about Dr. Greenwald over at www.therapyretreat.org His organization provides advanced trauma training, his intensive therapy retreats, and is in the midst of publishing some awesome research! 

Are you inspired? Is your brain working? We hope so! Share your out of the box ideas in the comments below or post your questions! 

p.s. If you are thinking about doing something out of the box, we have an advanced training upcoming about the logistics of marketing something beyond the couch.

Why Your Therapy Practice Needs a Business Plan

Therapists you need a business plan for your psychotherapy practice

Therapists you need a business plan for your psychotherapy practice

Your private practice is a calling, something you were meant to do. We get it. But, did you know that even churches have business plans? They might call them launch plans, but they are still a business plan. 

Why does a therapy practice need a business plan? 

The same reason you need a budget and a plan at home. Because it takes income to buy food, pay rent, send kids to college, and to live. Your therapy practice can only help people if the doors stay open. 

But I don't need to make a lot of money in my therapy practice. 

I talk to therapists who are relying on their spouse's income and insurance benefits. Their spouse is, in many cases, actually supplementing therapy services for the community. Which would be fine if you were starting a non-profit.

If you are starting a private psychotherapy practice, it is considered a for-profit venture. And, if  you don't make a profit after a few years- the IRS can determine that your work is actually a "hobby" and disallow any write-offs. 

What if life changes? 

People die. Jobs are lost. The work we do is hard. The cost of going to inspiring trainings, getting ongoing supervision or consultation (even after getting licensed), and taking time off is high. Whether you decide to save your profits, give them to charity, or buy a beautiful handbag is your business.

In today's world, it makes sense to have a back-up plan. Just because you don't have to make money in your business doesn't mean you shouldn't. It doesn't mean you should devalue your work, training, expertise, and the profession by charging a rate that doesn't match the expenses of the business or the expertise of the provider. 

What is a Private Practice Business Plan? 

It is a document that outlines how many clients you are going to see, your expenses for the year, your marketing plan, and projects your annual income. It outlines this for the next 3-5 years, and shows the rate of projected growth over that period of time. It includes an analysis of the clients you will serve, the competition in your area, how your services are different, your services and the pricing structure. It includes a mission statement, and so much more. 

Why don't most therapists have business plans? 

We were not taught how to develop business plans. When we ask colleagues how to start private practices, many of them stumbled through the process- so we replicate what they did. Unfortunately, just because someone is "busy" or "full" doesn't mean they have a profitable private practice. You can have a busy, full practice that is barely scraping by, or that isn't making any profit at all! 

Your clients want you to be around.

I know you are not going into private practice willy nilly- this is a big decision! While many of your clients may only work with you for a few months, some of your clients are signing on for intense work that may take years. They are trusting that, if it is within your power, you will be around to complete it with them. 

Life happens, you may have to move our close your practice for a variety of reasons. Not being able to pay the rent should never be one of them! 

Looking for a template to follow? Here is a great business plan creator from the Small Business Administration. 

Want something that is more therapy specific? Consider finding out a bit more about our upcoming Business School Bootcamp. We dig into business planning and help you start the process to reduce the overwhelm! 

Whatever you do, if your private practice isn't where you want or need it to be, reach out and ask for help! There are great programs through Julie Hanks, Casey Truffo, Juliet Austin, Becky Degrossa, Joe Sanok. There are free podcasts, webinars, blogs, and so many people out there! There are so many people cheering you on and rooting for you to be successful! Go out there and be great!