How to Grow a Private Practice | December 2017 Monthly Income Report

How to grow a private practice

Beyond working to grow a private practice, December was an amazing month for consulting, leveling up, and ending the year strong. I was off from December 22 until January 3rd.

As well, I did some significant year end reinvesting in the practice. It was not just for the tax benefit, but also because I’m at a point financially that the excess is smarter to use within the business to make 2018 and even bigger year!

Year End Numbers

Here’s how we ended the year:

  • Four therapists at Mental Wellness Counseling. We’re working to have them be full-time, rather than a number of 1099 clinicians.
  • Email list is at 7,597 with 20-30 new sign ups per day, 2,261 new in 2017.
  • 198 people on the waitlist (only 50 spots in the first cohort) for Next Level Practice, the supportive community for people starting a counseling practice
  • 78,918 downloads of the podcast in December
  • 723,218 downloads of the podcast all time

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:

Last Month’s Popular Article & Podcasts

How to Name a Private Practice

Today, we are talking all about naming a practice. The name of your practice is one of the most important things that you can land on. But, also, people often get hung up on it and they take way too long to name their practice.

5 Tips to Overcome Imposter’s Syndrome

I was about two weeks into private practice when it really hit me. My confused and overwhelmed client was pouring her heart out to me. And, there I sat across from her, hands sweating. 

Multiplying Your 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? 🙂

How to Use Assistants to Grow Faster

At this point, my consulting clients and Next Level Mastermind folks often ask very similar questions, and have similar concerns, and fears:

  • If I grow, won’t I have a huge team to manage? That’s going to take a ton of time!
  • I’m not big on supervising people, I like doing my own thing, how do I manage that?

Podcasts

How to Start a Thriving Practice | PoP 257

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about the importance of specializing.

 

How to Find a Specialty | PoP 258

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about the importance of specializing and how to figure out who your ideal client is.

 

How to Name a Practice | PoP 259

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about how to name your private practice.

 

Legal Structures in Private Practice | PoP 260

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about the legal structure within private practice.

 

Starting a Practice & Finding Cheap Rent | PoP 261

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about how to find cheap rent for your private practice.

 

Should I Specialize? Starting a Practice | PoP 262

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about whether or not to specialize when starting a private practice.

 

How to Make a Website? Starting a Practice | PoP 263

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about how to make a website.

 

How to Network to Get Clients, The Starting a Practice Series | PoP 264

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about how to network to get clients.

How to Go Private Pay | PoP 265

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about how to go private pay when starting a private practice.

 

Systems to Grow a Practice: Marketing Plan, Flow, and Blogging | PoP 266

The main difference between a six-figure private practice and a less-successful practice is systems of automation that have allowed the practice to scale by removing the private practice owner from the running of the business.

 

How to Create a Marketing Plan | PoP 267

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about how to create a marketing plan.

 

How to Get More Clients in Private Practice | PoP 268

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about how to get more clients in private practice.

 

Why You Must Blog | PoP 269

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about the systems necessary to grow a practice, which include a marketing plan, flow, and blogging.

How to Start a Practice Next Year | PoP 270

If you are in private practice and are under the $60 000 mark, this podcast series is for you! Joe is going back to the basics and running through the various phases involved in setting up a practice that is going to thrive! In this episode, Joe speaks about the struggles practitioners experience when starting a private practice..

 

Counseling Website and Getting Clients with Perry Rosenbloom | PoP 271

In this episode, Perry Rosenbloom provides insight into the four common website trends within the counseling field. He provides invaluable tips and advice around how to grow your email lists, transition successfully into group practices, and generally improve your therapy website.

 

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)

December 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. $2,037

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: $6,697.85 $7,881.25

Private Practice Paperwork Packet: $510

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! $0

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

$4,054.60

LLPC Supervision: $840

Podcast Sponsorship: $880.46

Hiring out my virtual assistant: $774.26

Practice of the Practice Consultants: $3,448.35

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: $9,017.23

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:  $49.68

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 $340.41

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.  $0

Practice of the Practice Magazine | Summer 2017: This magazine’s theme was “Start a Practice” stories and solutions for starting a private practice $7.99

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! $1,125

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: $26.13

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: $7.51

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

SwiftFile: I just started using them instead of LegalZoom, they’re cheaper and way better with customer service! $473.80

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. $556.20

Psychology Today: It’s a great way to build your practice. $0

December 2017 Gross Total: $32,044.57

Private Practice Expenses

1099 Counselors: $4,866.50

Additional Supervisor: $100

Rent and Utilities: $2,065.25

Marketing FB+YouTube+Twitter: $400

Charter Internet/website: $90

MeetEdgar: $49

Grasshopper: $81

Affiliate Commission: $0

Libsyn: $35

Dropbox: $0

Jamendo: $0

Holiday Gifts: $1,410.06 (I sent each consulting client a box of Morsels that cost around $50 each and gave $50 gift cards to all my clinicians)

Virtual Assistants: $3,906

Business Cards and Rack Cards: $0

Drinks for the Office: $86 (see my blog post about should I offer drinks in my private practice)

Shipt: $12

IT Support and Hosting: $95

Family Health Insurance: $603.36

QuickBooks + Harris Group CPA: $9

Other Consultants: $3,670.20

TOTAL December 2017 EXPENSES: $17,478.37

December 2017 Income Totals

Gross Income: $32,044.57 –  Expenses: $17,478.37 =  Total Net: +$14,566.20

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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