Is There Money In Private Practice? July 2017 Monthly Income Report

Is there money in private practice?

Is there money in private practice? If done correctly, I would say, “YES!” But, most people don’t focus on what they need to do at each stage. Instead, they try something for a month, then try something else, then attempt a new thing.

In trying to make money in private practice you have to know what stage you are in, are you:

Private Practice Highlights

This month was intentionally slow. Early in the month was the National Cherry Festival, so I took that week off, but also since Slow Down School kicked off on July 30th, I intentionally didn’t take on new consulting clients or do too much. I focused on my Practice Essentials Webinar series. So you’ll see that a lot of my money was made less on the practice and more on other things.

Past Monthly 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!

2017 Private Practice Income

2016 Private Practice Income: $323,047.89

2015 Total Private Practice Income $234,969.14 (working 25-30 hours per week) 

2014 Total Private Practice Income $110,736.79 (working 10-15 hours per week) 

2013 Annual Counseling Income: $54,513.97 (January-December 2013)

July 2017

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.

Private Practice: $698.40

Other counselors: In 2015 we launched the Addictions Treatment: Intensive Recovery Program, which has started to bring in more clients that need additions help. I have four counselors that work for my Traverse City counseling private practice as 1099 contractors and I get a portion of what is brought in. In the past I reported just my portion, but I’m going to be reporting the gross sales that came in: $8,831.85

Private Practice Paperwork Packet: $390

Private Practice Start-Up Packet: This packet is awesome! You get over $700 worth of start-up solutions including my Paperwork Packet, Blog Sprint, best MP3s, a Workbook, and tons more! I quietly launched it recently and it’s starting to take off! $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 private practice consulting:

  • Website Evaluation and Tips
  • Consulting: developing a niche within the private practice, building stronger referrals, increasing rates, and launching products to grow income
  • I’m also growing my Consultant-to-Consultants side of my consulting (say that 10x fast!)
  • Project management software and call recording
  • This includes some speaking and events

$5,980.05

LLPC Supervision: $1,513.20

Podcast Sponsorship: $1,880.46

Hiring out my virtual assistant: $1,480.62

Practice of the Practice Consultants: $0

Mastermind Group: I launched one, 12 person Mastermind Group for counselors that have established private practice and want to grow. It’s a monthly meeting for six months.

I just opened applications for my Mastermind Group for people grossing over $80k click here to apply.

$864.27

E-books these sales are down since I started giving my book away for free, click here to get Practice of the Practice: A start-up Guide to Launching a private practice for free, instead of spending $9.99:  $76.56

Member’s Newsletter: This is the weekly newsletter that walks people through exactly what they need to do when starting a private practice. I dropped the price from $149 annually to $17 as a one time fee $263.84

Practice of the Practice Magazine | Summer 2017: This magazine’s theme was “Start a Practice” stories and solutions for starting a private practice $82.88

Slow Down School: This was the first year of Slow Down School. I’ll be doing a whole blog post on it. It was amazing. So many high achieving practice owners in the same place, we were all crying at the end, because it impacted us so much. This money came in throughout the prior months, but I didn’t want to report it until the conference was completed. $36,238.23

Passive Income Sources

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! $14.70

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! $825

Cupla Media: They have these great videos to help you promote your business. Use code “thanksjoe” to get a ton off. $91.08

Jeff Gunther’s SEO Course: $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: $15.11

NameCheap is who I use to purchase my URLs, they are so easy to work with when you’re setting up a website!: $0

Google Ads: $3.87

LegalZoom: Legal Zoom is a great way to file your PLLC or LLC paperwork and all other legal forms: $22.35

SwiftFile: I just started using them instead of LegalZoom, they’re cheaper and way better with customer service! $2,038.95

Grasshopper: This is the amazing virtual phone system I use, rather than an expensive land line system. I have the $12/month one and it is awesome. At least check them out and watch some videos. $916.05

July 2017 Gross Total: $62,227.47

Private Practice Expenses

1099 Counselors: $5,490

Additional Supervisor: $0

Rent and Utilities: $2,065.25

Marketing FB+YouTube+Twitter: $703.66

Charter Internet/website: $85

MeetEdgar: $49

Grasshopper: $81

Affiliate Commission: $0

Libsyn: $35

Dropbox: $0

Jamendo: $0

Virtual Assistants: $3,961.50

Business Cards and Rack Cards: $0

Drinks for the Office: $91 (see my blog post about how Starbucks saved my practice)

IT Support: $30

Family Health Insurance: $603.36

QuickBooks + Harris Group CPA: $9

Dedicated Hosting: $89

Consulting: $2,500

Other Consultants: $250

Slow Down School Expenses: $22,400.23

TOTAL July 2017 EXPENSES: $38,443.00

July 2017 Income Totals

Gross Income: $62,227.47 –  Expenses: $38,443.00 =  Total Net: +$23,784.47

REACH YOUR AMBITIOUS RESULTS

Let’s do some consulting.

CLICK HERE to discover more about my private practice consulting. 

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.  

 Joseph R. Sanok, MA, LLP, LPC, NCC

joe-sanok-private-practice-consultant-headshot-smaller-versionJoe Sanok is an ambitious results expert. He is a private practice business consultant and counselor that helps small businesses and counselors in private practice to increase revenue and have more fun! He helps owners with website design, vision, growth, and using their time to create income through being a private practice consultant. Joe was frustrated with his lack of business and marketing skills when he left graduate school. He loved helping people through counseling, but felt that often people couldn’t find him. Over the past few years he has grown his skills, income, and ability to lead others, while still maintaining an active private practice in Traverse City, MI. To link to Joe’s Google+ .

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