Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

What Everybody Ought To Know Before Starting A Private Practice

1,453 views

Published on

Published in: Business
  • Be the first to comment

What Everybody Ought To Know Before Starting A Private Practice

  1. 1. WHAT EVERYBODY OUGHT TO KNOW BEFORE STARTING A PRIVATE PRACTICE: THE 5 THINGS MOST COUNSELORS MISS IN THE PLANNING STAGE
  2. 2. YOU’LL NEVER MAKE IT IN THIS FIELD...
  3. 3. CIRCUMSTANCES = SUCCESS?
  4. 4. IT’S NOT UP TO FATE, IT’S UP TO YOU
  5. 5. WHETHER YOU’RE:  About to start your private practice.  Graduating in the next year and in serious planning mode.  An intern doing private practice lite in preparation for doing it on your own.  Have started your private practice but aren’t getting the results you want…  This is YOUR chance to have a clean slate and build the foundation of a successful practice.
  6. 6. WHAT WE’LL COVER TODAY: The 5 things counselors often miss in the planning stage. Why most people miss them (but you won’t.) The basic first steps of enacting the knowledge gained from these 5 things. Specific free (or low-cost) resources you can use to help you achieve your goals.
  7. 7. THE 5 THINGS MOST COUNSELORS MISS IN THE PLANNING STAGE
  8. 8. #1 CHOOSING A NICHE…TO MARKET TO
  9. 9. A NICHE Again?
  10. 10. IF YOU DO NOT NICHE: Cash Left On The Table Facts on Niche & Money  Specialists can charge more than generalists.  People pay more.  $80-90 vs. $125  More clients come.  Clients feel more satisfied.  Niches make you more memorable to referrals.
  11. 11. IF YOU DO NOT NICHE: You don’t know: No Sense of Direction  Who to market to.  Which referral sources to connect with.  Where to spend your advertising money.  How to design your website.  What language to use in your copy….
  12. 12. IF YOU DO NOT NICHE:  Serving the people you were meant to serve.  IF you are filling your book (big if) they are not with people you want to be working with. You are not:
  13. 13. IF UNSOLVED: This will keep you from working with the clients you love the most.
  14. 14. WHY MOST COUNSELORS DON’T DO IT  Don’t want to eliminate options.  Don’t think of it. Feels unimportant.  Dislike “expert” status.
  15. 15. WHY HAVEN’T YOU DONE IT YET?
  16. 16. NICHE JUST IN THE NICK OF TIME Who? Why? Passion Statement Skills, Experience How? Methods
  17. 17. #2 EXPLORING LOCATION OPTIONS
  18. 18. COMMON MISTAKES Pay too much for a location. Eliminate an option too early. Ignore mid-range options. Don’t know where to look. Don’t protect yourself. Sign an unnecessary contract.
  19. 19. IF YOU ARE NOT CAREFUL You could end up paying a ton more money than you need to per month, and add stress & liability.
  20. 20. DETERMINING WHAT YOU CAN SPEND ON YOUR PLACE Questions To Ask Rental Budget  How many clients do you have to see to pay for it?  Remember to include “hidden” expenses.  How much space do you actually need?  Remember you can negotiate!
  21. 21. OFFICE SPACE HIDDEN FEES  Alarm services  Electricity  Water  Repairs  Janitorial staff  Maintenance  Future rent increases
  22. 22. CHOOSING OFFICE SPACE PRIORITIES Outside Inside  Accessibility to major highways  Bus route  Traffic  General appearance  Parking space  Signage  Visibility  Waiting room  Separate entrance  Receptionist area (receptionist services?)  Insulation, quiet  Bathrooms  Disability accommodations  Furniture
  23. 23. WHERE TO LOOK Psychology Today Counselor Associations
  24. 24. OTHER OFFICE LOCATION RESOURCES  Psych Office. http://psychoffice.net/  Craigslist.org  “Office & Commercial” under “Housing.”  Can narrow by rent range  Your local therapist support networks.  Contacting local doctor’s offices.  Real estate agents.
  25. 25. BOTTOM LINE  Know your budget.  Consider your needs both NOW & LATER.  Negotiate.  Don’t settle.  Only sign a contact when you completely understand the terms.
  26. 26. #3 SETTING INCOME GOALS
  27. 27. THE TYPICAL PRIVATE PRACTICE INCOME PLAN Let’s just see what happens!
  28. 28. MOST THERAPISTS WILL STAY AWAY Because  “I don’t wanna.”  “I don’t know how.”  “I’m not in it for the money.”  “It will work itself out.”  “I’m better at the creative stuff.” Don’t Fence Me In
  29. 29. WHY THIS DOESN’T WORK  “I don’t wanna.”  “I don’t know how.”  “I’m not in it for the money.”  “It will work itself out.”  “I’m better at the creative stuff.”  You gotta.  Doesn’t matter. You gotta learn.  But you do want to keep your private practice going, right?  It won’t.  This still has to get done.
  30. 30. WITHOUT INCOME GOALS You could end up unable to pay your bills.
  31. 31. THE COMPLETELY NON-COMPLICATED, UN-PAINFUL, ARTSY-TYPE-APPROVED INCOME PLANNING METHOD
  32. 32. A FEW SIMPLE QUESTIONS  What Do You Need To Make?  Gross: _____________________________  Take-home: _______________________ (Profit)  What Are Your Expenses?  Rent: _________________________  Professional Expenses: _____________________  Payment Processing: __________  Other: ________________________________
  33. 33. TWO OPTIONS:  Your rate per hour x (weekly hours worked) = weekly income goal  Example: Weekly income goal is $2000, rate $90.  So $2000/rate of $90 = 23 client hours a week.  (Your rate per hour) x hours per week = weekly income goal  Example: Goal hours per week are 15, and goal income is $2000.  So $2000/15 client hours a week = $135 hourly rate. Solve for hours you must work per week: Solve for what your rate needs to be:
  34. 34. SIMPLE, AND YET NOW YOU KNOW:  How many hours you need to work per week, or  How much you need to charge per hour.  You can also:  Figure out how many clients can cancel without impacting your bottom line.  Track your progress towards your goal from week to week.
  35. 35. FREE BUDGETING APPS/SOFTWARE Mint.com BudgetTracker.com BudgetPulse.com Excel
  36. 36. #4 DOING MARKET RESEARCH
  37. 37. REALLY?
  38. 38. WHY YOU DO MARKET RESEARCH  See:  What everybody else is doing.  Where there are gaps in your area (that you can fill).  What the going rates are for your area.  Who potential referral partners might be.
  39. 39. MOST COUNSELORS SKIP THIS STEP  Because they don’t think it’s necessary.  Because they don’t know how.  Because they don’t think about it.  Because they feel inferior.
  40. 40. YOU MUST DO THIS IN ORDER To know what you can charge that clients will pay (and how you can stand out as a unique service provider.)
  41. 41. WHAT YOU NEED FOR MARKET RESEARCH  Your zip code  A computer with internet access  Lots of notepaper and a few pens.
  42. 42. THE PROCEDURE Search Make Note Of:  Google “therapist” “counselor” + zip code (MFT, teen, play)  Psychology Today  Therapy Tribe  Specific directories  What they charge  What they specialize in  Picture quality  Profile quality  Lead with themselves or lead with client?  Marketing messages
  43. 43. THIS WILL:  Not be the shortest endeavor  Will be messy and a challenge to wade through BUT:  It will save you money, time, and energy because you will focus on the things that WORK and the needs that are not being met.
  44. 44. EXAMPLE:  Therapist Name: ______________________  Zip Code: _____________________________  Rate Charged: ________________________  Population Served: ____________________  Notes: ________________________________ _______________________________________ (Profile, Picture, Message)
  45. 45. AFTER YOU’VE DONE THAT Stand Out Fit In  Top 3 Underserved Zip Codes __________________ __________________  What specialties seem to need attention in your area? __________________ __________________  Find the median of rates offered.  Profile pics that seem most appealing.  Successful marketing messages.
  46. 46. #5 CREATING A MARKETING PLAN
  47. 47. WHY MOST COUNSELORS SKIP THE MARKETING PLAN Play It By Ear Don’t Need It
  48. 48. BUT WHEN YOU DON’T HAVE A STRATEGY  You waste your efforts.  You waste your money.  You waste your time.  You end up with one or two successes purely by accident instead of a ton of success you created on purpose.
  49. 49. YOU MUST DO THIS IN ORDER TO Create a system to get clients in your door right away, and on a regular basis.
  50. 50. PUTTING IT ALL TOGETHER  1. Make a plan. (Any plan.)  Goal=Clients In The Door  Plan=Steps that accomplish goal  Limit to 2-3 steps at a time.  2. Implement  3. Measure  What worked.  What didn’t work.  What has potential that needs to be watched.
  51. 51. 5 THINGS THAT MOST COUNSELORS MISS  1. Choose A Marketing Niche  2. Exploring Location Options  3. Setting Income Goals  4. Doing Market Research  5. Creating A Marketing Plan
  52. 52. Save Your Spot! tinyurl.com/biz-anxiety BEAT PRIVATE PRACTICE ANXIETY! HOW TO GET RID OF YOUR BUSINESS FEARS ONCE & FOR ALL Mark your calendars! Tuesday, October 7, 2014.

×