WHAT EVERYBODY OUGHT TO KNOW BEFORE STARTING A PRIVATE PRACTICE:

THE 5 THINGS MOST COUNSELORS MISS IN THE PLANNING STAGE

YOU’LL NEVER MAKE IT IN THIS FIELD...

CIRCUMSTANCES = SUCCESS?

IT’S NOT UP TO FATE, IT’S UP TO YOU

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.

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.

THE 5 THINGS MOST COUNSELORS MISS IN THE PLANNING STAGE

#1 CHOOSING A NICHE…TO MARKET TO

A NICHE

Again?

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.

IF YOU DO NOT NICHE:

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….

You don’t know: No Sense of Direction

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:

IF UNSOLVED:This will keep you from working with the clients you love the most.

WHY MOST COUNSELORS DON’T DO IT

Don’t want to eliminate options. Don’t think of it.Feels unimportant.Dislike “expert”

status.

WHY HAVEN’T YOU DONE IT YET?

NICHE JUST IN THE NICK OF TIME

#2 EXPLORING LOCATION OPTIONS

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.

IF YOU ARE NOT CAREFULYou could end up paying a ton more money than you need to per month, and add stress & liability.

DETERMINING WHAT YOU CAN SPEND ON YOUR PLACE

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!

Questions To Ask Rental Budget

OFFICE SPACE HIDDEN FEES

Alarm services Electricity Water Repairs Janitorial staff Maintenance Future rent increases

CHOOSING OFFICE SPACE PRIORITIES

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

Outside Inside

WHERE TO LOOK

Psychology Today Counselor Associations

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.

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.

#3 SETTING INCOME GOALS

THE TYPICAL PRIVATE PRACTICE INCOME PLAN

Let’s just see what happens!

MOST THERAPISTS WILL STAY AWAY

“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.”

Because

Don’t Fence

Me In

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.

WITHOUT INCOME GOALSYou could end up unable to pay your bills.

THE COMPLETELY NON-COMPLICATED, UN-PAINFUL, ARTSY-TYPE-APPROVED INCOME PLANNING METHOD

A FEW SIMPLE QUESTIONS

What Do You Need To Make? Gross: _____________________________ Take-home: _______________________ (Profit)

What Are Your Expenses? Rent: _________________________ Professional Expenses: _____________________ Payment Processing: __________ Other: ________________________________

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:

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.

FREE BUDGETING APPS/SOFTWARE

Mint.comBudgetTracker.comBudgetPulse.comExcel

#4 DOING MARKET RESEARCH

REALLY?

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.

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.

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.)

WHAT YOU NEED FOR MARKET RESEARCH

Your zip code A computer with

internet access Lots of notepaper

and a few pens.

THE PROCEDURE

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

Search Make Note Of:

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.

EXAMPLE:

Therapist Name: ______________________ Zip Code: _____________________________ Rate Charged: ________________________ Population Served: ____________________ Notes: ________________________________

_______________________________________(Profile, Picture, Message)

AFTER YOU’VE DONE THAT

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.

Stand Out Fit In

#5 CREATING A MARKETING PLAN

WHY MOST COUNSELORS SKIP THE MARKETING PLAN

Play It By Ear Don’t Need It

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.

YOU MUST DO THIS IN ORDER TOCreate a system to get clients in your door right away, and on a regular basis.

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.

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

BEAT PRIVATE PRACTICE ANXIETY! HOW TO GET RID OF YOUR BUSINESS FEARS ONCE & FOR ALLMark your calendars!

Tuesday, October 7, 2014.

Save Your Spot!tinyurl.com/biz-anxiety