“I was told that you couldn’t make real money if you had your own practice. Well, all I can say is, ‘I wish I had started my practice sooner.’ I’m earning the money I need, doing what I love, and running my own schedule, all because I started my own practice.”
As Carol and I talked I realized that while she took risks to build her own practice her risks were calculated. Her intentional decisions allowed her to start well and less than a year after opening her practice was already compiling a client waitlist.
If there was ever an epic start to a thriving online therapy practice it’s Carol’s. The best part is, she let me in on her secrets and I’m here to share them with you…
Tell me if this sounds familiar: How will I find clients? How am I gonna be compliant? How do I deal with insurance? And that’s just the tip of the iceberg, right?! Coaches give you a safe place to ask these questions AND find the answers. Not only is a coach someone who knows the way but they will also provide you with accountability and encouragement.
Carol had one coach who helped her navigate starting an online practice and another coach who helped her navigate the business/personal side of things. Now she works with iTherapy to handle payments, schedule compliant video sessions, and file client information.
Starting any practice means you have to face financial questions. Instead of getting paralyzed by the financial weight of starting a practice take a moment to answer these questions:
How much money do I NEED to live on?
How much money would I LIKE to make?
How much money do I WANT to save?
When you are able to break down the amounts into monthly and weekly figures you will be able to calculate how many clients you need in order to have a sustainable practice.
Carol was careful to point out that she didn’t pay for every single feature to get her practice off the ground. She spent what she had on exactly what she needed. As her practice grew she was able to add features to her business that made her practice more simple and streamlined.
CONNECT WITH LOCAL THERAPISTS
When Carol first mentioned this I was like, “Wait. What?! You’re starting an online practice, but you’re networking with local therapists.”
“Yes,” she said.
She explained that she was meeting with them for two reasons:
To ask about insurances they accepted and typically worked with.
To build a referral list.
Before she knew it she was getting referrals from the therapists she had met with. Now she is referring clients to them. Talk about a win-win!
Needless to say, starting your own practice is risky, but being intentional about the risks you take can lead to a thriving practice. Get yourself a coach or two where you can dump all your questions and create strategies to overcome your fears. Get clear on your financial goals and don’t spend more than you have. Get connected with local therapists and ask if you can add them to your referral list.
Before you go, I want to be the one who tells you, “You can totally earn money as a private therapist. And you are capable of starting your very own practice!”.
Let us know which tip you’re gonna do first, in the comments.
Also, later this month we will be talking about making sure your website content is on point so stick around!