How to Scale a Business | Monthly Income October 2017

How to Scale a Business | Monthly Income October 2017

Wondering how to scale a business? Is your private practice growing and you’re ready to scale? It can be frustrating and overwhelming. This monthly income report will show you how I scaled my business since 2013.

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

 

Last Month’s Popular Article & Podcasts

How to Win Clients at Every Inquiry

How To Win Clients At Every Inquiry

People looking for counseling have been struggling. You know this. 

Have you stopped to think about all the barriers between a client’s decision to get counseling and that first actual appointment? Overcoming the stigmatization fear, figuring out finances, the dreaded search, and then hoping a therapist will call back. It’s especially frustrating for a client to actually get to that first session and find out it’s a bad fit.   

As clinicians who want to help our ideal clients, it’s equally frustrating.

How To Confidently Build a Private Practice

Today, I’m going to share with you a little bit about how to confidently grow your business. This is mostly aimed at people that have a private practice, as health care professionals. But, honestly, it connects with pretty much any other business that you’re talking about. I also wanted to let you know about a new email series that I have just written up. It’s 22 pages of information, but it’s broken down into three very clear parts.

Midlife Grad School Grad Goes For Brass Ring

I have been given the opportunity to be a guest blogger for the Practice of the Practice website. This is an honor I’m really excited about, as it gives me the platform to talk about my journey into Private Practice, that started even before I went back to school in mid-life. This will be a 12 part series (one article a month), that will break down my experience, both the wins and the losses, as I have come to be where I am today. I am in no way at the end of the road in my pursuit to have a successful private practice, but I feel I have learned a lot in short time and hope to be of service to you, the reader, as I take you through these experiences with me.

Podcasts

Next Level Private Practice | PoP 246

In this podcast, I launch my series on leveling up your private practice. I explain why it’s important to scale your practice as well as what the three stages are of this. This is an introductory podcast of what is to come in the weeks ahead.

 

Dr. Mark Mayfield on How Nametags Made a Multi-Six Figure Practice | PoP 247

Mark Mayfield speaks around how he started his, now flourishing, group practice and how he moved into having the mindset of a businessman. He shares the way he structures his KPIs as well as general tips and advice on how to grow and run a group practice. This podcast forms part of our series on interviewing owners of multi-six figure private practices.

Eric Connor is Making Six Figures Running Groups | PoP 248

In this podcast, Eric Connor speaks about how he has grown his solo private practice to where it is today, a six figure business. He emphasizes the importance of networking as well as how he developed the concept of running therapy groups. Eric goes into detail about these groups and why they have worked out being a very profitable venture for him and his practice.

Ginny Mills Did W-2 Instead of 1099 & Here’s Why | PoP 249

Ginny Mills speaks around how she grew her group practice by making the decision to employ W-2s instead of 1099s. She also provides information around her developing ‘Parents Through Addiction’ program. Ginny shares what motivates her and how she has grown her business to the six figure mark.

 

Sherry Shockey-Pope Started Creating Systems & This Happened | PoP 250

In this podcast, Sherry speaks openly about how she grew her group practice to the six figure mark. She touches on why specializing is important, how she wrapped her mind around business administration, and how her and her colleagues set up a business plan. Sherry also chats to Joe about how to prioritize being happy while running a demanding business and various side projects.

John Bowen Discovered 6 Key Drivers Of Success | PoP 251

John Bowen, although not part of the counseling industry, is a super successful entrepreneur who now provides invaluable tips and advice to other business owners. He has written a book including six drivers of success. These range from ensuring excellent customer service to building your business around the kind of life you want to live.

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)

October 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: I’ve started paring down my side of the practice to see only returning clients and ones that are directly referred to me by past clients. $1,518.05

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: $11,737

Private Practice Paperwork Packet: $1,045

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! $499

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

$6,169.20

LLPC Supervision: $902.10

Podcast Sponsorship: $880.46

Hiring out my virtual assistant: $1,110.65

Practice of the Practice Consultants: $1,607.29

Mastermind Group: I launched one, 6 person Mastermind Group for counselors that have established private practice and want to grow. It’s a monthly meeting for six months. $0

Next Level Mastermind Group: Aimed at people above $70k that are scaling, adding clinicians, looking to save time and increase money, and have big ideas: $8,640

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:  $67.53

One Year Private Practice Plan: 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 $356.62

Private Practice Start Phase Kit: This is the newest solution for starting a practice. It’s only $77 and helps people that are just starting a practice to thrive quicker, stay organized, and know exactly what to do. It includes an e-book, nine infographics, graphic quotes to use on Instagram to build a following, seven worksheets to learn how to attract an ideal client, and a worksheet to help you organize your first year of practice.  $342

Practice of the Practice Magazine | Summer 2017: This magazine’s theme was “Start a Practice” stories and solutions for starting a private practice $47.94

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! $1,350

Cupla Media: They have these great videos to help you promote your business. Use code “thanksjoe” to get a ton off. $0

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: $15.16

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: $9.40

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! $1,000

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. $800

Psychology Today: It’s a great way to build your practice. $1,020

October 2017 Gross Total: $39,154.45

Private Practice Expenses

1099 Counselors: $8,135.50

Additional Supervisor: $0

Rent and Utilities: $2,065.25

Marketing FB+YouTube+Twitter: $358.69

Charter Internet/website: $85

MeetEdgar: $49

Grasshopper: $81

Affiliate Commission: $0

Libsyn: $35

Dropbox: $0

Jamendo: $49

Virtual Assistants: $3,602

Business Cards and Rack Cards: $0

Drinks for the Office: $80.74 (see my blog post about how Starbucks saved my practice)

IT Support: $55

Family Health Insurance: $603.36

QuickBooks + Harris Group CPA: $9

Dedicated Hosting: $150

Other Consultants: $1,422.20

TOTAL August 2017 EXPENSES: $16,780.74

September 2017 Income Totals

Gross Income: $37,954.45 –  Expenses: $16,780.74 =  Total Net: +$22,373.71

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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