February 2014 | How to make extra money
Over the past few months I discussed how I was really evaluating finding a balance. This month I did a much better job and have focused my efforts on a handful of new projects, including:
1. A Mastermind Group: It’s every Friday from 12:00-1:00 EST, we’re covering marketing, business, and how to have more private practice customers. Here’s a link to sign up for next week’s Private Practice Mastermind group, it’s only $49
2. I’ve been trying to be home earlier and have pushed out how soon I can see new clients. In the past I’d always see people, but I’m slowing down the client load.
3. I have had a number of inquiries about private practice coaching. I’ve been meeting with folks in person (locally) or over the phone. I give a few proposals to help them meet their goals, do a SWOT (Strengths,Weaknesses, Opportunities, Threats) Analysis, often a website build or redesign, optimize for SEO, include 5-10 hours of coaching, and give a bunch of free stuff like my paperwork packet and e-book. I also look at how quickly the changes will start and how quickly they will see a ROI to find a break-even point. It is usually as quick as 3-5 weeks!
Also, my wife and I made a really fun video with my new camera
Great things you may have missed in February
Past Income Reports
People often ask me why I disclose all this information? To me, I am inspired when other people are open and honest. Then I can learn from how they succeed or fail. My hope is that this helps others to grow in their businesses!
January 2014 Monthly Income Report $4,834.57
2013 Annual Counseling Income: $54,513.97 (January-December 2013)
December 2013 Monthly Income Report $4,774.58
November 2013 Monthly Income Report total: $5,148.16
October 2013 Monthly Income Report total: $4,689.99
September 2013 Monthly Income Report total: $3,137.30
August 2013 Monthly Income Report total: $3835.74
July 2013 Monthly Income Report total: $5691.65
June 2013 Monthly Income Report total: $4,471.29
May 2013 Monthly Income Report total: $6,022.91
April 2013 Monthly Income Report total: $2,116.96
March 2013 Monthly Income Report total: $2,476.92
February 2013 Monthly Income Report total: $2,685.12
January 2013 Monthly Income Report total: $2,707.09
December 2012 Monthly Income Report total: $2,287.97
November 2012 Monthly Income Report total: $1,219.18
October 2012 Monthly Income Report total: $3,213.87
September 2012 Monthly Income Report total: $1,361.60
February 2014 Earning Report
What I’m going to be reporting about how to make extra money and what I’m not going to be reporting
Full-time Job: Since some of you are new and some of you have been around Practice of the Practice for a while, I’m going to give a quick summary of where I make income. My full-time job is at a community college as a counselor. I love the job and it gives me great opportunities. Also, since my wife stays home with our daughter it is an income we can count on, health insurance, a pension, and a really great environment! I’m not going to disclose my full-time wages there, since it is not something that is part of my private practice.
Private Practice: I do 3-4 sessions a week in my private practice. I don’t take insurance, so it is private-pay. As a result, I don’t have many expenses in time or actual money. Included in my consulting (not my private practice money) is time I spend doing supervision for LLPCs (Limited Licensed Professional Counselors), a 100 hour requirement in Michigan.
Passive Income: The term “passive” makes it sound like I don’t have to do work. What I mean is money that I make that is not in direct exchange for my time. I will outline what these are under each item.
How I made extra money in February 2014
Disclosure: many of the links below are affiliate links that will earn me a commission if you purchase through them, it’s one way that I help support the work I put into the website. Please click on them to help support Practice of the Practice.
Counseling, consulting, and useful products
Private Practice (24 sessions, January was 19 sessions, November was 15 sessions) $4,120
Other counselors: I have two counselors that work for my practice as 1099 contractors and I get a portion of what is brought in: $460
Paperwork Packet: $0
Consulting (this sometimes includes building a website as part of the private practice coach session) I do private practice coaching. Usually there are three parts to it 1. A SWOT (strengths, weaknesses, opportunities, and threats) Analysis, website redesign or re-optimization, and then coaching: $905.97
LLPC Supervision: $640
The Motherload: $0
E-books: $55.60
Practice of the Practice | A Start-up Guide to Launching a Counseling Private Practice
The Ten-minute Toddler Turnaround | Improving Sleep: Changing your toddler’s sleep health in ten-minutes.
Mental Wellness Parenting | A remarkably simple approach to making parenting easier
Paperback Copy of my book Mental Wellness Parenting: A remarkably simple approach to making parenting easier
Member’s Newsletter: This newsletter helps folks with struggling or new private practices to learn how to go from no practice to a thriving one in one year. 200% money-back guarantee! This number does not include folks that signed up via The Motherload: $271.96
Affiliate Marketing:
Aweber: This is the service I use to create emails, manage lists, and create follow-up emails where they can be in order for the person. It’s super cool! $5.70
BlueHost Referrals: If you are setting up a website, this is the best hosting because of their customer service and the ability to have unlimited websites hosted! $0
Amazon Affiliate Referrals: If you are buying something on Amazon, it’d be great if you clicked the link. I get a small commission without you having to pay anything more! $8.49
NameCheap is who I use to purchase my URLs, they are so easy to work with when you’re setting up a website!: $5.73
Google Ads: I have a few ads through the website and these bring in a bit of passive income. Since my podcast interview with Sarah Barnes I’ve been doing a lot less of this: $9.69
LegalZoom: $0
February 2014 total: $6,483.14
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Some of the numbers from Google Ads, Amazon, NameCheap, and my e-books will not be paid until they reach a certain amount or 60-90 days after the sale. I report what has been sold in the month it was sold. Also, I do not take expenses off of this report.
Joseph R. Sanok, MA, LLP, LPC, NCC is amazed how much fun it is to help other people in business and counseling! He helps angry kids, frustrated parents, and distant couples at his private practice in Traverse City, MI at Mental Wellness Counseling. Also, he is the author of Mental Wellness Parenting | A remarkably simple approach to making parenting easier. To link to Joe’s Google+ .
Ask Joe a Question about how to make more money
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Thanks for the photo tec_ estromberg
