Multiplying Your Time and Money

Multiplying time and money


In the last post, we discussed playing with numbers to add clinicians, raise your rates, and work the same, or less, but still make more money. I hope it went awesome. Did you have some fun dreaming about new financials in your life? Have you already spent the money (in your head) you haven’t made yet? 🙂

The biggest shift for Next Level Practice Owners is the idea of time and money exchange. Recently, I was doing a pre-consulting call with someone and they were highly successful: group practice, multi-six figure gross revenue, keynotes, and books, and highly respected in their community.

But, they were only making around $80k, per year, and working 70+ hours per week. They used terms like “about to go postal” and “burned out” through our entire conversation.

I hate seeing that, because I see all the quick ways we could change that. Even “successful” practice owners will:

  • Work harder not smarter
  • Be cheap and try to do it themselves
  • Not value their time and their free time
  • Not actually be with their family, even when they are physically with their family, because their mind is somewhere else

But, imagine if you could set up boundaries, people, and automations, so that your practice could scale with or without you!

That’s why I want you to work on this stuff now, instead of later. When you start growing, without the right plan and mindset, you have to undo a lot later when you burnout.

What To Do Now

MINDSET: An assistant should be a multiplier. For example, if someone answers your phone and schedules, the $15/hour you pay should multiply your success. Top practice owners see them as an investment, not an expense. This is because they know they will actually multiply their time and/or money by bringing them on. For example, if I pay someone $15/hour for 10 hours per week of calls/scheduling, that’s $600/month. If I’m charging $150 per session, that’s only four hours of work to pay for 40 hours.

WHAT’S COMING: In the coming Part 2, we’re going to talk about setting up assistants that are hired based on tasks, but are also willing to be trained. It’s only a three-part process that I call ABC (Activity, Basics, Collaboration) where we discuss exactly how you determine what you want, how to find an assistant, and how to give feedback. We’ll also be covering how to add clinicians, and maintaining focus on exactly what to do by ignoring what’s not important.

BUILD THE MUSCLE: But, it’s easy to get sucked back in. As you start to take things off your plate, it’s natural to want to keep doing more. We have ideas and feel like we “have to” keep busy. That’s good, but do you want to stay busy? If so, at the end of Part 2, we’ll discuss where to stay busy (here’s a hint: it’s not with email).

ACTION: If you had five hours of extra time, per week, what would you do? How would you impact the world, your family, or your health?  

 

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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