Financially this month was a regular month, but we had a number of huge expenses and they’re going to keep coming next month. We still made a profit, but only by a touch. The deposit for Slow Down School was due, the magazine launched, and we sent out a bunch of swag to some of the Next Level Practice people.
Sometimes you reinvest and sometimes you just take money out of a business, this month we reinvested. We hope it helps! We also ran about $1,500 in FB ads to send people to our coming webinars. With that said, I’d be lying if I didn’t say the money side kind of freaks me out.
Whenever you push yourself, you walk that tightrope, but it’s important to have clear numbers to return to, that will give clarity.
How to Get to the Next Level of Private Practice
In trying to make money in private practice you have to know what stage you are in, are you:
- Starting a private practice, where you focus on keeping costs low and learning a lot!
- Growing a private practice, where you look at your use of time and start outsourcing a bit.
- Scaling a private practice, where you do the opposite of what you did under $100k, you outsource as much as you can and try to scale beyond yourself.
Private Practice Videos and Highlights
Top Private Practice Stories
Most counseling practices invest a lot of time and energy in creating a safe and comforting environment in their workplace. For therapists based within a clinical environment, the regulations of each hospital and clinical center can affect their interior environment. Indeed, many medical centers can feel cold for therapy visitors.
Running a business is no easy feat and maintaining the success and functionality of your business can be hard work. No matter how old your company may be, there will always be challenges along the way, so how can you run and maintain your business effectively. Here is a helpful guide on how to do just that.
In my last article, we talked about the importance of credentialing and payment reconciliation. These are important systems for the insurance-based practice. In this article, we will talk about the importance of following-up on claims and verifying benefits. Fair warning, this is the hard part of a DIY practice or a practice that is taking insurance.
Private Practice Podcasts
In this podcast episode, Joe Sanok speaks with Jon Vroman about living life in The Front Row, what it takes to be a Front Row Dad, being your true self and how being a healthy version of yourself can benefit everyone around you.
Angelina Jolie, Sean Connery, Tony Robbins, and Stephen Covey all Were Coached by Arthur Joseph | PoP 354
In this podcast episode, Joe Sanok speaks with Arthur Joseph about vocal awareness and how to speak correctly in a way that makes you stand out.
In this podcast episode, Joe Sanok speaks with David-Shriner Cahn about how he helps people make stable, predictable and recurring revenue and why it’s important that your business has multiple revenue streams.
In this podcast episode, Joe Sanok speaks with Jessica Tappana about starting a group practice and how you can rank higher in Google.
In this podcast episode, Joe Sanok speaks with David Morgan about how he went beyond his practice and started an online anger management course.
In this podcast episode, Joe Sanok speaks with Dr. Larry Beer about how he rebuilt his practice when people left and what he is doing differently now.
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!
2019 Private Practice Income
- Multiple Streams of Income in Private Practice (How I took 5.5 weeks off) January 2019 $51,713.59
2018 Private Practice Income $587,618.41
- What’s working in private practice December 2018 $50,051.75
- Building multiple streams of income for a private practice November 2018 $53,185.49
- Building Recurring and Predictable Income October 2018 $55,079.57
- How to Absolutely Kill It In Private Practice September 2018 $48,012.81
- Start with Lifestyle, Then Build Your Business August 2018 $54,209.33
- You’re Not Stuck, Launch Your Big Idea July 2018 $47,853.48
- How to transition to Private Practice June 2018 $46,941.05
- How to grow a Private Practice May 2018 $62,692.95
- Making Money in Private Practice April 2018 $41,449.97
- Can you make money in private practice? March 2018 $43,859.53
- How to make more in consulting than in therapy February 2018 $43,623.98
- How to Grow an Income and Impact January 2018 $40,658.50
2017 Private Practice Income: $456,983.53
- How to Grow a Private Practice December 2017 Income $32,044.57
- Costs of Starting a Private Practice November 2017 Income $43,930.55
- How to Scale a Business October 2017 Income $39,154.45
- How much money can a counselor in private practice make? September 2017 Income $29,227.97
- Private Practice Income August 2017 Income $35,382.59
- Is there money in private practice? July 2017 Income $62,227.47
- How do private practices make money? June 2017 Income $32,578.72
- How to Add Multiple Streams of Income May 2017 Income $31,329.66
- Make Money in Private Practice April 2017 Income $29,248.40
- How much do counselors make? March 2017 Income $33,780.54
- How much do therapists make? February 2017 Private Practice Income $28,062.84
- January 2017 Private Practice Income $28,686.11
2016 Private Practice Income: $323,047.89
- December 2016 Private Practice Income $26,390.37
- November 2016 Private Practice Income Report $29,365.76
- October 2016 Private Practice Income Report $37,487.87
- September 2016 Private Practice Monthly Income Report $21,233.43
- August 2016 Private Practice Monthly Income Report $23,402.56
- July 2016 Monthly Income Report $21,780.77
- June 2016 Monthly Income Report $41,700.26
- May 2016 Monthly Private Practice Income Report $22,925.73
- April 2016 Monthly Income Report $31,776.33
- March 2016 Monthly Income Report $27,512.81
- 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
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: This was one of the lowest months ever. I’ve stopped seeing most of my clients to work on more consulting and bigger things. It’s a really odd transition! $1,115.50
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. Click the link if you want to add clinicians to your practice with my 1099 contracts: $7,313.80
Private Practice Paperwork Packet: $1,342.92
- Evaluating KPIs of time and income
- Creating systems to scale the business
- Evaluating big ideas to generate non-time income and increase innovation, influence, and impact
Podcast Sponsorship: $7,715
Hiring out my virtual assistant: $1,454.06
Practice of the Practice Consultants: $6,760.90
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 we have just a couple spots left and it includes Slow Down School, click here to apply: $2,764.50
Million Dollar Practice Mastermind: This is a mastermind group lead by Kasey Compton and myself. To apply and read more click here. $5,238
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: $20.88
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 $405.25
Start a Group Practice Mastermind: This Mastermind Group is limited to 12 people and is focused on the beginning stages of starting a group practice. How do you add a W2? How do you add a 1099? What contracts should you have in a private practice? How to set up systems? Alison Pidgeon teaches about group practice, does Q&A, and also you get hot seats. $4,375.67
Next Level Practice: This is the premier supportive community that combines webinars, community, and practical tools to help start a practice. $10,590.15
Blogging Course: This is the best 12-part course on how to blog to rank higher in Google for therapists. $0
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! $44.70
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! $150
VA Referrals: $279
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: $9.67
SwiftFile: I just started using them instead of LegalZoom, they’re cheaper and way better with customer service! $715
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
Psychology Today: It’s a great way to build your practice. $0
Harris Group: Accountant for therapists $0
Practice Solutions: The best billing company for your private practice. $835.60
Gross Total: $53,167.85
Private Practice Expenses
1099 Counselors: $4,802.50
Rent and Utilities: $2,200
Marketing FB+YouTube+Twitter: $1,599.97
Charter Internet/website: $110
Practice of the Practice Profit Sharing: $0
Google Suite: $52.73
Magazine Postage: 1,018.91
Slow Down School Lodging: 10,801.50
50% of Practice of the Practice Magazine: $2,333.01
Next Level Practice Swag: $988.89
Virtual Assistants: $5,594.89
Drinks for the Office: $0 (see my blog post about should I offer drinks in my private practice)
IT Support and Hosting: $95
Family Health Insurance: $603.36
Other Consultants: $9,300.97
TOTAL EXPENSES: $40,423.47
Monthly Income Totals
Gross Income:$53,167.85 – Expenses: $40,423.47 = Total Net: +$12,744.38
REACH YOUR AMBITIOUS RESULTS
Let’s 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.
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+ .