Private Practice Money | March 2015 Monthly Income Report (a new record!)

best month yet

March 5th was my last day at my full-time job, here’s an article about why I left my full-time job.  March has been really exciting, here are a few highlights.

Private Practice Highlights

There were a ton of huge steps forward:

  • Kelly, Miranda, and I have been doing tons of fun planning for  The Most Awesome Conference, for private practice owners.
  • I went to the ACA Conference, but got sick while I was there, ended up at the ACA President’s private party! Check out the pictures below.
  • I wrapped up my full-time job, the first week in March.
  • My back is feeling better, I was hospitalized in January. I’ve been doing 6-7 hours of PT per week.
  • I hung out with Miranda and Kelly for the first time in person!
  • Almost broke 8,000 downloads of the podcast, was averaging 5,000-6,000!
  • Best of all, my daughter’s heart procedure went amazing!!!

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The Most Awesome Conference

I’m partnering with Kelly Higdon and Miranda Palmer from ZynnyMe as well as Julie de Azavedo-Hank for The Most Awesome Conference. We were all sick of conferences where you’d leave with a “to do” list only to get hit by email and other shenanigans, so this conference, folks come with their “to do” list and have some of the best consultants in the nation right there, in a beach house!

Check this out!

most awesome schedule

And it’s going to be in this beautiful place!

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Some huge sponsors have come on board to help make this the SINGLE BEST CONFERENCE for owners of a counseling private practice, that want to learn how to make money in private practice!

CLICK HERE TO LEARN MORE

Great counseling and marketing articles and podcasts from March

business books

15 Business Books to Read in 2015

PRIVATE PRACTICEhow to become a consultantagainst all odds

 

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!

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: $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

March 2015 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 9-10 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

I’m going to also start 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.

Private Practice Expenses

For a while I have been getting emails about my expenses. It’s not been something that I had a clear handle on, so I didn’t want to inaccurately report them. I am going to report my major expenses each month. Thus the two Monthly Income Reports from January/February will be slightly inflated/deflated based on this new measure.

Making Money in Private Practice | March 2015

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: $5,273.61

Other counselors: We just 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: $3,703.05

Paperwork Packet: $0

The Most Awesome Conference: $2,000

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:

  1. A SWOT (strengths, weaknesses, opportunities, and threats) Analysis
  2. Website redesign or re-optimization
  3. Coaching: developing a niche within the private practice, building stronger referrals, increasing rates, and launching products to grow income

In my August Monthly Income Report I had a number of new private practice consulting clients start with me. Because of having the baby I wanted to make sure I provided excellent service to those I’m consulting with, so this number is way lower than normal.

$2,775.54

PsychCentral Writing: $380

CEO Group: I am the facilitator of a CEO Mastermind Group through our Chamber of Commerce, this is the annual per diem: $500

LLPC Supervision: $771.28

The Motherload: $0

E-books: You may have noticed that the Practice of the Practice book has been showing up in the 3-D fashion on the website, this has really helped drive traffic, but isn’t in your face selling. This is the lowest month in a while, I’m going to evaluate this: $41.76

Paperback Copy of my book Mental Wellness Parenting: A remarkably simple approach to making parenting easier. Most people would see this as a really bad thing, however, when I wrote the book, I really wanted to focus on it being something to hand out to clients or potential referrals. It’s sort of an over-sized business card. It’s great when people buy it, but I’m not disappointed when they don’t, since I see it more as a marketing tool: $0

Member’s Newsletter to Launch/Grow a Practice

Member’s Newsletter: This is the weekly newsletter that walks people through exactly what they need to do when starting a private practice. $187.16

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! $14.40

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! $390

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: $19.11

NameCheap is who I use to purchase my URLs, they are so easy to work with when you’re setting up a website!: $8.27

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: $12.82

LegalZoom: Legal Zoom is a great way to file your PLLC or LLC paperwork and all other legal forms: $0

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. $0

ZynnyMe: I recently connected with Miranda and Kelly to become an affiliate. They have a Business School Bootcamp that is what I wish I could build. Maybe sometime in the future, but for now I’m just going to refer folks to them! $2,000

Podcast Sponsorship: I have been selectively adding sponsors to the podcast, but upcoming ones will be from being sponsors of The Most Awesome Conference. $0

 

March 2015 Gross Total: $18,077.00

A huge and brand new record! Thank you so much for all your support!

But let’s break this down more than we have ever done it before.

Private Practice Expenses (Brand New Section)

Rent and Utilities: $2,065.25

Charter Internet/website: $85

Payment to 1099s: $2,095.20

Grasshopper: $0, charged when account hits $100

Libsyn: $15

Virtual Assistants: $426.25

Office Supplies: $124.40

Music Radio Creative (Intro for new podcast): $177.41

TOTAL MARCH 2015 EXPENSES: $4,988.51

Total Hours Worked

March 1-7 | Week 1: 21 hours worked (last week of community college job)

March 8-14 | Week 2: 36 hours worked, was at ACA Conference, so it’s hard to judge exactly

March 9-21 | Week 3: 29 hours worked, half of Th and all Friday was away for daughter’s surgery

March 22-28 | Week 4: 34 hours worked

March 29-31 | Week 5: 14 hours worked

TOTAL HOURS WORKED IN MARCH: 134

March Totals

Gross Income: $18,077.00

Expenses: $4,988.51

Total Net: +$13,088.49

Average hourly: $97.68

 

If you want to go after your own AMBITIOUS RESULTS, let’s talk and do some 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. I report what has been sold in the month it was sold. Also, I do not take expenses off of this report. Expenses this month were around $2,500. 

 

PRIVATE PRACTICE CONSULTANT

Joseph 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+ .

Photo by Tax Credits

2 Comments

  • Hello,

    I am interested in attending your conference. I am an MFT who works part-time. I take care of my 3 year old during the week. I was very excited to read about the conference taking place at the end of May. I am struggling to succeed in the private practice field. I would love to attend your conference, unfortunately,I am financially limited at this time ( I am so embarrassed to even ask) but is there any possible way to receive a scholarship or volunteer at the event to obtain a discount. Please reply even if its a “no”. You can contact me at ***-***-****. Thank you.

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