How to Start a Million Dollar Practice with Kasey Compton: Processes to Scale 3 of 5 | PoP 303

Million-Dollar Podcast Series(3)


Do you want to grow your practice into a million-dollar practice? Do you feel like your private practice is efficient and effective? Are there systems and processes in place?

In this podcast episode, Joe Sanok speaks with Kasey Compton on how to start a million dollar practice by setting up processes to scale.

Podcast Sponsor

This might not be for everybody. But, some of you out there want to start a million-dollar practice. You know inside of you that you could scale huge, you could impact your community, you could make a lot of money, but, even more importantly, you could be able to serve so many more people.

If you want to start a million-dollar practice. If you want to grow, know the systems, and have us help you, Kasey Compton and I are launching a brand new Mastermind starting soon. It’s called: How to Start a Million-Dollar Practice.

It’s going to include:

  • Having time at Kasey’s office learning directly from her
  • Coming to Traverse City with me to learn about marketing a practice
  • A year of us teaching and walking you through exactly how to set it up so you can have a million-dollar practice

To apply for this Mastermind Group, head on over to practiceofthepractice.com/milliondollarpractice.

Meet Kasey Compton

My area of specialization is in anxiety and panic disorders. I work with clients from early childhood to ages 65+. I use a very successful treatment program to reduce and/or eliminate the anxiety and panic that you are experiencing in your life. All of my clients who have completed this program have experienced significant results. I look for people who are dedicated and willing to commit to the treatment process. These clients are always the most successful!

Kasey Compton’s Story

Kasey knew as soon as she got licensed that she wanted to start her own private practice. Yet, she soon realised that she wasn’t ready. So, she joined a group practice for a few years to ‘watch and learn’. Then, once she felt more knowledgable, she went back into her private practice.

In This Podcast

Summary

In this episode, part three of five in the podcast series, ‘How to Start a Million-Dollar Practice’, Kasey Compton provides an overview of the five phases of starting a million-dollar practice. These include purpose, planning, process, profit, and people. In this podcast episode, Kasey provides insight into processes and what the difference between systems and processes are.

5 Phases of Starting a Million-Dollar Practice

  1. Purpose – knowing what your purpose / passion is & how you choose to impact your community. Define your ‘why’.
  2. Planning – market research, knowing reimbursement rates etc. if you’re insurance-based, cost of living, what insurance do most people have?
  3. Process – in order to make your private practice scalable and effective, you need to have processes and systems in place.
  4. Profit – looking at your numbers, i.e.: top-line revenue versus profit margins, looking at your profit and loss statements – seeing everything from a percentage-based point of view.
  5. People – finding people that support your other 4 ‘P’s’, that  support your purpose, that are team-players and that are willing and excited to be participants in your process. People that are hungry for growth and share your perspective in the field.

Processes

Know what a process is. You don’t want your business to depend entirely on you, you want to be able to feel confident that if you want to go on vacation, you can without there being any disruption. Processes address the effectiveness of things, while systems address the efficiency.

Think about systems as being the overarching thing, while processes fall within these systems.

Six Important Processes to Scale

  1. Referrals
  2. Client call-ins (scripts)
  3. Intake & first-session
  4. Session documentation & quality control
  5. Billing & payments
  6. Office management & reporting

Useful Links:

Meet Joe Sanok

private practice consultantJoe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners that are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.

 

 

 

 

 

Thanks For Listening!

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