Stabilize Your Business by Diversifying Income with Dr. Ajita Robinson | GP 122

Image of Dr. Ajita Robinson captured. On this therapist podcast, Dr. Ajita Robinson talks about Stabilize Your Business by Diversifying Income.

Can diversifying your income help deter burnout? Why is it important for your practice’s success that you diversify your streams of income? Have you thought about partnering with schools and summer camps as revenue sources?

In this podcast episode, Alison Pidgeon speaks about how you can stabilize your business by diversifying income with Dr. Ajita Robinson.

Podcast Sponsor: Therapy Notes

An image of Therapy Notes is captured as the sponsor on the Practice of the Practice Podcast, a therapist podcast. Therapy Notes is the most trusted EHR for Behavioral Health.

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Meet Dr. Ajita Robinson

A photo of Dr. Ajita Robinson is captured. Dr. Ajita Robinson is known as The Experts’ Therapist. She is a Grief & Trauma therapist, Bestselling Author, International Speaker, and Income Strategist. She is featured on Grow a Group Practice, a therapist podcast.

Dr. Ajita Robinson is known as The Experts’ Therapist. She is a Grief & Trauma therapist, Bestselling Author, International Speaker, and Income Strategist.

After serving as a grief and trauma expert for over a decade, Dr. Ajita Robinson began to leverage her years of clinical experience and her previous career as a corporate consultant to launch a mental health practice and scale it to 7-figures. She is a first-generation trauma and poverty disruptor who helps mental health entrepreneurs create living legacies and financial freedom while helping communities heal.

She has been seen in places such as Good Morning Washington, Headspace, Wall Street Journal, Huffpost, Washington Post, Business Insider, CNBC, Bustle, and Therapy for Black Girls.

Visit Dr. Ajita Robinson’s website and connect with her on Facebook, Instagram, Twitter, and LinkedIn.

ORDER your copy of The Gift Of Grief: A Practical Guide On Grief And Loss​

FREEBIE: Download Dr. Ajita Robinson’s 30 ways to diversify your income e-book.

In This Podcast

  • Why is it important to diversify your revenue?
  • Consider group sessions
  • Run a summer camp

Why is it important to diversify your revenue?

Many practices begin with client-pay being the direct (and sometimes only) source of income.

However, as the practice grows or when life happens, diversifying your income streams can help your business’ income to stabilize and remain consistent despite changes that may occur.

Diversification is so important because it stabilizes the revenue. It can stabilize and increase cash flow and things of that nature. (Dr. Ajita Robinson)

Having multiple streams of income can also help to deter burnout for you and your clinical team.

Consider group sessions

Another stream of income that is related to group practice is to offer group therapy sessions to some of your one-on-one clients.

I put six of my one-on-one clients into a group together, and then they rotated into three individual spots. I’m now down to two spots, because my goal is to remove myself from direct practice entirely. (Dr. Ajita Robinson)

Providing group therapy is a great way to offer alternate methods and options for support to your clients to increase income while increasing access to therapy.

Run a summer camp

At the beginning of the year before summer, reach out to schools and start conversations around mental health, suicide prevention, and so forth.

That’s also recurring revenue because we have recurring contracts with schools… we come in and do the training for and to schools in a particular district. (Dr. Ajita Robinson)

Position the value that is being added and the need that is being met in the school by them working with you and your practice.

You can run these contracts with schools and summer camp training programs.

Books mentioned in this episode:

Useful links mentioned in this episode:

Check out these additional resources:

Meet Alison Pidgeon, Group Practice Owner

An image of Alison Pidgeon is displayed. She is a successful group practice owner and offers private practice consultation for private practice owners to assist in how to grow a group practice. She is the host of Grow A Group Practice Podcast and one of the founders of Group Practice Boss.Alison Pidgeon, LPC is the owner of Move Forward Counseling, a group practice in Lancaster, PA and she runs a virtual assistant company, Move Forward Virtual Assistants.

Alison has been working with Practice of the Practice since 2016.  She has helped over 70 therapist entrepreneurs start and grow their businesses, through mastermind groups and individual consulting.

Transformation From A Private Practice To Group Practice

In addition, she is a private practice consultant for Practice of the Practice. Allison’s private practice ‘grew up.’ What started out as a solo private practice in early 2015 quickly grew into a group practice and has been expanding ever since.

Visit Alison’s website, listen to her podcast, or consult with Alison. Email Alison at alison@practiceofthepractice.com

Thanks For Listening!

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