Downloaded 27 times
Uploaded byAnthony Centore
How to Build a 7 figure Counseling Practice
The document discusses the complexities and potential earnings of running a counseling practice, highlighting the pros and cons of entrepreneurship in this field. It outlines the costs associated with operations, the importance of building value in a practice, and offers insights into essential factors for success, such as clinical experience and marketing strategies. Additionally, it emphasizes the significance of team culture and staff management in retaining quality clinicians.
How to Build a 7 figure Counseling Practice
- 1. COUNSELING PRACTICE BUILDING A 7FIGURE ANTHONY CENTORE PH.D.
- 2.
- 3.
- 4.
- 5.
- 6. COULD I BECOME AN ENTREPREN EUR? Dr.Anonymous
- 7. TEXT PROS AND CONS ▸Cons ▸ Difficult level 10 ▸ Lonely ▸ Risk ▸ Hours ▸ Pros ▸ Flexible ▸ Own Boss ▸ Creative ▸ Rewards
- 8.
- 9. WHAT DOES IT TAKETO SUCCEED IN PRIVATE PRACTICE?Anonymous Ph.D., LMFT TEXT
- 10. A TALE OF 2COUNSELORS
- 11.
- 12.
- 13.
- 14.
- 15.
- 16.
- 17.
- 18.
- 19.
- 20.
- 21.
- 22.
- 23. WHO’S STORY SOUNDS MORELIKE YOU?
- 24. NOT A SOLO A7 FIGURE PRACTICE IS
- 25.
- 26.
- 27.
- 28.
- 29.
- 30.
- 31.
- 32.
- 33.
- 34.
- 35. SHOW ME THEMONEY
- 36.
- 37. SHOW ME THEMONEY A counselor will bill about $75 per session
- 38. SHOW ME THEMONEY A counselor will bill about $75 per session 36 sessions a week = $2,700
- 39. SHOW ME THEMONEY A counselor will bill about $75 per session 36 sessions a week = $2,700 48 weeks a year = $129,600
- 40. SHOW ME THEMONEY A counselor will bill about $75 per session 36 sessions a week = $2,700 48 weeks a year = $129,600 A psychologist will bill about $95 per session
- 41. SHOW ME THEMONEY A counselor will bill about $75 per session 36 sessions a week = $2,700 48 weeks a year = $129,600 A psychologist will bill about $95 per session = $164,160
- 42. SHOW ME THEMONEY Just therapy, without: Psychological Testing Medication Management Group Counseling Court Appearances Other Ancillary Services
- 43. SHOW ME THEMONEY 7.6 Counselors, or 6.1 Psychologists to earn $1,000,000 in Revenue!
- 44.
- 45.
- 46. REVENUE IS NOTPROFIT
- 47. SHOW ME THEMONEY Therapist Compensation 55-70% of Total Revenue
- 48. SHOW ME THEMONEY Therapist Compensation 55-70% of Total Revenue ~ $300,000 - $450,000 left
- 49. WHAT CAN YOUBUY WITH $450,000?
- 50.
- 51.
- 52. 1.08CT. FANCY, VIVID, BLUE YOUCOULD BUY:
- 53. 700 SQUARE FOOT APTIN BROOKLINE, YOU COULD BUY:
- 54. Take That, AustinPowers
- 55.
- 56.
- 57. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15%
- 58. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7%
- 59. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5%
- 60. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3%
- 61. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8%
- 62. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity)
- 63. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3%
- 64. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3%
- 65. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3%
- 66. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1%
- 67. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1%
- 68. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 69. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 70. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 71. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 72. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 73. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 74. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 75. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 76. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 77. OPERATIONAL EXPENSES Credentialing, Billing& Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1%
- 78.
- 79.
- 80.
- 81. RESULTS MAY VARY 1)Take home the same in solo practice
- 82. RESULTS MAY VARY 1)Take home the same in solo practice 2) Only money they keep is what they produce
- 83. RESULTS MAY VARY 1)Take home the same in solo practice 2) Only money they keep is what they produce 3) Highly profitable, and self-sustaining
- 84. RESULTS MAY VARY 1)Take home the same in solo practice 2) Only money they keep is what they produce 3) Highly profitable, and self-sustaining 4) A combination of self and team best *Sellable & Real Estate
- 85.
- 86.
- 87.
- 88.
- 89.
- 90.
- 91.
- 92.
- 93.
- 97.
- 98. DO YOU KNOW WHATYOUR BUSINESS IS WORTH?
- 99. EBIDTA, MULTIPLE OF REVENUE,OWNER BENEFIT, COST OF STARTING FROM SCRATCH,
- 100. RECOUP INVESTMENT IN 3 YEARS,AND MAKE A LIVING
- 101. VALUE 12 WAYS TOBUILD VALUE ▸ Brand ▸ Beyond solo ▸ Realize the potential
- 102. “Potential co-operative marketingwith other health related professionals in same location. Potential to expand professional referral network, expand hours/days of operation or add complementary services. Huge potential to leverage social media marketing for targeted local advertising.”
- 103. VALUE 12 WAYS TOBUILD VALUE ▸ Brand ▸ Beyond solo ▸ Realize the potential ▸ Earn out ▸ Finance the buyer ▸ Focus on new clients
- 104. FOR WHICH WOULD YOU PAY MORE? JohnDoe LMFT, NCC QUESTION
- 105. A practice withfour clinicians performing a total of120 sessions per week, and 8 new client inquiries per month. A practice with two clinicians, performing a total of 60 sessions per week, and 80 new client inquiries per month.
- 106. VALUE 12 WAYS TOBUILD VALUE ▸ Brand ▸ Beyond solo ▸ Realize the potential ▸ Earn out ▸ Finance the buyer ▸ Focus on new clients ▸ Credentialing ▸ Committed staff
- 107. practice and beginsto implement some basic rules of operation for the administrative staff. They revolt! The staff destroys documents, cancels appointments, refuses to answer the phone, and creates a hostile work environment (they were also, as it was later discovered, stealing from the company). The new owner has no choice but to fire the entire staff, and hire a new administrative team.
- 108. compensating them heavilyfor completing basic administrative tasks the previous owner did not want to do. The new owner realizes that the practice cannot survive without the clinicians forgoing their administrative duties (along with the extra cash-cow income). The counselors do not respond well to receiving what they perceive as “a cut in pay”, and several leave the practice. Revenues drop by over 40%, and the practice doesn’t recover for over a year.
- 109. VALUE 12 WAYS TOBUILD VALUE ▸ Brand ▸ Beyond solo ▸ Realize the potential ▸ Earn out ▸ Finance the buyer ▸ Focus on new clients ▸ Credentialing ▸ Committed staff ▸ Assets ▸ Good lease
- 110. A BAD LEASE Thepractice has a 5-year lease in a bad location. The buyer would prefer to move the office, but breaking the lease will be too expensive.
- 111. A BAD LEASE Thelease is non-transferable, and the landlord wants a 20% rent increase from any new tenant/owner.
- 112. A BAD LEASE Thelease terminates within a year, and the landlord plans to raise the rent more than 5%. Or, the landlord isn’t interested in committing to new lease terms at the present time, creating a big ol’ question mark for the buyer.
- 113. A BAD LEASE Thespace is simple TOO BIG for the practice.
- 114. VALUE 12 WAYS TOBUILD VALUE ▸ Brand ▸ Beyond solo ▸ Realize the potential ▸ Earn out ▸ Finance the buyer ▸ Focus on new clients ▸ Credentialing ▸ Committed staff ▸ Assets ▸ Good lease ▸ Honest and open ▸ Desirable location ▸ Finish strong ▸ Willing to let go
- 115. BUILDING THE TEAM …isthis week
- 116.
- 117.
- 118.
- 119.
- 120. BUILDING THE TEAM Finding Recruiting Interviews Contractorsv. Employees Avoiding Nightmare Counselors
- 121. BUILDING THE TEAM Finding Recruiting Interviews Contractorsv. Employees Avoiding Nightmare Counselors Why Practices Lose Their Best Clinicians
- 122. BUILDING THE TEAM Finding Recruiting Interviews Contractorsv. Employees Avoiding Nightmare Counselors Why Practices Lose Their Best Clinicians Offer Letter / Contract
- 123. BUILDING THE TEAM Finding Recruiting Interviews Contractorsv. Employees Avoiding Nightmare Counselors Why Practices Lose Their Best Clinicians Offer Letter / Contract On-boarding and Training
- 124. BUILDING THE TEAM Finding Recruiting Interviews Contractorsv. Employees Avoiding Nightmare Counselors Why Practices Lose Their Best Clinicians Offer Letter / Contract On-boarding and Training Creating a Pipeline
- 125.
- 126.
- 127.
- 128.
- 129.
- 130.
- 131.
- 132. DON’T HIRE ANYONE YOU WOULDN’TWANT TO RUN INTO IN THE HALLWAY AT 3 IN THE MORNING Tina Fey TIP:
- 133.
- 134.
- 135.
- 136.
- 137.
- 140. THRIVEWORKS, AT ITSCORE, IS ITS TEAM OF PEOPLE…WE WORK TO ENGENDER GREAT LOYALTY IN THE TEAM MEMBERS AT THRIVEWORKS AND HOPE THAT WE ARE SUCCESSFUL…TO THE POINT THAT THEY ELECT TO STAY EMPLOYED WITH US FOR LIFE. Our Mission Statement TEXT
- 141.
- 142.
- 147.
- 149. Thriveworks Rank System Level1) Assistant Clinician Level 2) Fellow Clinician Level 3) Senior Fellow Clinician Level 4) Associate Clinician Level 5) Senior Associate Clinician Level 6) Senior Clinician Level 7) Distinguished Candidate Clinician Level 8) Distinguished Clinician Level 9) Magna Candidate Clinician Level 10) Magna Clinician Level 11) Summa Candidate Clinician Level 12) Summa Clinician Managing Clinician Clinician Emeritus / Emerita
- 150.
- 151. SPEND IT TO MAKEIT MONEY
- 153. WE GOT NICKELS HOLDINGUP A DOLLAR!
- 154.
- 155.
- 156.
- 157.
- 158.
- 159.
- 160.
- 161.
- 162.
- 163.
- 164.
- 165. “Only half ofmy advertising is working.”
- 166. “The problem isI don’t know which half!”
- 167.
- 168.
- 174.
- 175.
- 176.
- 177. BAD WEBSITE “Counseling forindividuels, couples, and Families”
- 178.
- 179. YOU CAN TELLHOW MUCH A BUSINESS CARES ABOUT IT’S CUSTOMERS BY HOW CLEAN THE BATHROOMS ARE.Somebody Smart TIP:
- 180.
- 181. I’M ABOUT TO BLOWYOUR MIND
- 182.
- 183.
- 184.
- 185. THE LAST 10%IS THE HARDEST
- 186.
- 187.
- 188. ARE YOU QUITTINGAT 90%?
- 189. ARE YOU QUITTINGAT 90%? “Clients don’t need wi-fi in the waiting room”
- 190. ARE YOU QUITTINGAT 90%? “Clients don’t need wi-fi in the waiting room” “We don’t answer the phone, but most clients will leave a message”
- 191. ARE YOU QUITTINGAT 90%? “Clients don’t need wi-fi in the waiting room” “We don’t answer the phone, but most clients will leave a message” “My notes are for me. My records don’t need to be great.”
- 192. ARE YOU QUITTINGAT 90%? “Clients don’t need wi-fi in the waiting room” “We don’t answer the phone, but most clients will leave a message” “My notes are for me. My records don’t need to be great.” “I don’t want to accept credit cards. Clients can write a check”
- 193. ARE YOU QUITTINGAT 90%? “Clients don’t need wi-fi in the waiting room” “We don’t answer the phone, but most clients will leave a message” “My notes are for me. My records don’t need to be great.” “I don’t want to accept credit cards. Clients can write a check” “That old armchair was my great aunts. I don’t have time to refurbish it”
- 194. ARE YOU QUITTINGAT 90%? “Clients don’t need wi-fi in the waiting room” “We don’t answer the phone, but most clients will leave a message” “My notes are for me. My records don’t need to be great.” “I don’t want to accept credit cards. Clients can write a check” “That old armchair was my great aunts. I don’t have time to refurbish it” “I haven’t dug into new research in years. The most important thing is the relationships with my clients”
- 195.
- 196.
- 197. SPACE White glove cleanand organized
- 198. SPACE White glove cleanand organized No more Poland Spring
- 199. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better
- 200. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING
- 201. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler
- 202. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours
- 203. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book
- 204. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL
- 205. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL More positive psychology training
- 206. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL More positive psychology training Professional development program
- 207. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL More positive psychology training Professional development program Measure treatment outcomes
- 208. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL More positive psychology training Professional development program Measure treatment outcomes VALUE
- 209. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL More positive psychology training Professional development program Measure treatment outcomes VALUE More value to clients
- 210. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL More positive psychology training Professional development program Measure treatment outcomes VALUE More value to clients 1st/10th appointment gifts
- 211. SPACE White glove cleanand organized No more Poland Spring Hallway should smell better SCHEDULING Intake process simpler Sessions in 24 hours Never double book CLINICAL More positive psychology training Professional development program Measure treatment outcomes VALUE More value to clients 1st/10th appointment gifts Most desirable place
- 212.