March 2016 Monthly Income Report

monthly income report

According to the Bureau of Labor and Statistics, the median wage for Mental Health Counselors and Marriage and Family Therapists is $42,250 per year ($21.30 per hour). This field is growing at a rate of 19% growth which is much faster than average.

How is it that our field is growing so fast and counselors still are making so little?

I’m sure you can answer that. Most of us have worked in not-for-profits, agencies, and government jobs. It’s good and important work. Yet, it fuels burnout and fatigue. Counselors barely get by and struggle to make ends meet.

It doesn’t have to be that way!

You can earn a great income and also stay true to the reasons you went into your field!

I do this post every month because I believe that transparency and openness will fuel our field to evaluate how we talk about success and money!

Here are some things I did this month to build influence and income.

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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!

2016 Private Practice Income

February 2016 Monthly Income Report $17,790.27

January 2016 Monthly Income Report $20,862.33

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

December 2015 Monthly Income Report $20,030.69

November 2015 Monthly Income Report $28,470.34

October 2015 Monthly Income Report $23,215.45

September 2015 Monthly Income Report $22,257.19

August 2015 Monthly Income Report $23,330.67

July 2015 Monthly Income Report $17,953.38

June 2015 Monthly Income Report $28,680.91 

May 2015 Monthly Income Report $13,647.91

April 2015 Monthly Income Report $18,397.42

March 2015 Monthly Income Report $18,077

February 2015 Monthly Income Report $10,258.02

January 2015 Monthly Income Report $10,650.16 

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

December Monthly Income Report $11,746.06

November Monthly Income Report $11,695.30

October Monthly Income Report $13,784.57

September 2014 Monthly Income Report $7,084.45 (but took 2 weeks off for baby)

August 2014 Monthly Income Report $11,541.71

July 2014 Monthly Income Report $8,477.47 (Accompanying podcast)

June 2014 Monthly Income Report $8,486.38

May 2014 Monthly Income Report $8,113.28

April 2014 Monthly Income Report $7,834.16

March 2014 Monthly Income Report $10,645.70

February 2014 Monthly Income Report $6,483.14

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: $5,691.65

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  

March 2016 Earning Report

What I’m going to be reporting about how to make extra money and what I’m not going to be reporting

Private Practice

I do 5-6 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. I also do consulting with private practice clinicians and supervision for LLPCs in Michigan (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.

Time Study

In March 2015 I started also looking at how much time I spend working, then I’ll figure out my weekly average. I want to compare this to my old schedule, where I worked 40+ hours and also did 15 or so with the private practice/consulting. I do my best to report this, but sometimes based on time, I just report the income.

Private Practice Expenses

For a while I have been getting emails about my expenses. My total is the gross (total before expenses) and then I report the expenses and subtract to get the net (total after expenses).

Making Money in Private Practice | March 2016

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: $4,665.70

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: $8,220.75

Paperwork Packet: $1,065

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

$5,650.25

Pinot & Practice this is a two-day event I’m hosting in Traverse City, MI. We’re doing group consulting in the mornign and wine tasting in the afternoon: $3,000

LLPC Supervision: $873

The Consultant School:  $0

Podcast Sponsorship: $2,485

E-books:  $135.52

how to start a private practice

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 $64

Affiliate Marketing to Increase Revenue

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! $26.10

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! $520

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: $19.64

NameCheap is who I use to purchase my URLs, they are so easy to work with when you’re setting up a website!: $12.12

Google Ads: I have a few ads through the website and these bring in a bit of passive income. Since my podcast interview about How to Rank Higher in Google with Sarah Barnes I’ve been doing a lot less of this: $11.48

LegalZoom: Legal Zoom is a great way to file your PLLC or LLC paperwork and all other legal forms: $164.25

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. $600

Lead Pages: This is one of the best ways to grow your sales funnel for your website! $0

March 2016 Gross Total: $27,512.81

Private Practice Expenses

Rent and Utilities: $2,065.25

Charter Internet/website: $85

Payment to 1099s: $5,081.26

MeetEdgar: $50

Grasshopper: $15

Libsyn: $35

Virtual Assistants: $0

Business Cards and Rack Cards: $72

IT Support: $0

Family Health Insurance: $1,367.34

QuickBooks: $9

Dedicated Hosting: $89

TOTAL JANUARY 2016 EXPENSES: $8,868.85

 

March 2016 Income Totals

Gross Income: $27,512.81 –  Expenses: $8,868.85 =  Total Net: +$18,643.96

Time Study total hours worked:     91 hours (not including travel), $106.72 per hour average.

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.  

Joe Sanok Private Practice ConsultantJoseph R. Sanok, MA, LLP, LPC, NCC

Joe 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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