How to Transition to Private Practice | June 2018 Monthly Income Report

How to transition to private practice - June 2018 Monthly Income Report

June was a great month! I’ve worked hard to start enjoying the northern Michigan summer. My daughters are out of school, so we’ve had great beach time, stand-up paddle boarding, and BBQs. This month, the fruits of passive income have paid off as I have worked quite a bit less. In July I’ll be taking off two weeks and then hosting Slow Down School.

The TEDx videos went live. There was an issue with mine, so it’ll be live soon. But Jay Papasan’s is and it’s awesome!

 

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:

Private Practice Videos and Highlights from June

Top Private Practice Stories

How to Handle Intake Calls

In an intake call, someone has already initiated that they want to work with you. So if you feel like you’re making a sale, that’s probably more of an internal issue. They’re already saying, ‘I’m interested in working with you in the same way’. If you called a new doctor, and you’re talking to her receptionist on the front desk, if they say, ‘So here’s when we have intakes for doctor’, that’s not ‘salesy’. That’s offering what you’re calling for. You’re calling to try to see if that person is a fit.

How to Get Referrals in Private Practice

Stacey Brown Randall walked through these five steps that were really awesome:

  • Understanding Who Refers to You
  • Have it be Part of Your System
  • Reach Out Throughout the Year
  • Continue to Plant Seeds
  • Have a Process and System

An Overview of Private Practice Business Development

There are three phases that every private practice goes through: the start phase, the growth phase, and the scaling phase.

So the start phase for a private practice is at the very beginning. It’s going to be from $0 to $40,000. During this phase, the main focus is ‘startup’. The next phase is the growth phase. This is going to be from around $40,000 gross to a $100,000 gross. During this phase, your main sign that you’ve made it is that you’re mostly full with your ideal client. The last phase of private practice is the scaling phase. This is from $100,000 all the way up to $1,000,000. During this phase, the biggest sign that you’ve made it is can you go away for two weeks without everything falling apart.

Podcasts

Our 300th Episode with Pat Flynn, John Lee Dumas, Kelly Higdon, and More!

This episode is celebration of 300 podcasts, we featured some messages from some previous guests on the podcast and some faithful listeners!

 

How to Start a Million Dollar Practice with Kasey Compton: Start with Purpose 1 of 5 | PoP 301

Kasey Compton speaks about how to start a million dollar practice by starting with purpose.  If you want to start a million-dollar practice. If you want to grow, know the systems, Kasey Compton and Joe talk about how they are launching a brand new Mastermind called: How to Start a Million-Dollar Practice.

How to Start a Million Dollar Practice with Kasey Compton: Planning Phase 2 of 5 | PoP 302

Kasey Compton speaks about how to start a million dollar practice, the planning phase. Kasey advised that the culture in your company is going to be a result on your ‘why’. Don’t underestimate the importance of developing a healthy company culture that incorporates your why.

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

Kasey Compton speaks about how to start a million dollar practice by setting up processes to scale. 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.

How to Start a Million Dollar Practice with Kasey Compton: How to Make a Profit 4 of 5 | PoP 304

Kasey Compton speaks about how to start a million dollar practice and make a profit. You’re going to need to start by working backwards from how much you’re going to charge clients and then how much you’re going to pay your clinicians, etc. Have an understanding – in percentage – of what you’re spending on all your expenses. Viewing your expenses in percentages makes it easier to scale your business. Learn how to look at your numbers and understand them.

How to Start a Million Dollar Practice with Kasey Compton: People are the Difference 5 of 5 | PoP 305

Kasey Compton speaks about how to start a million dollar by knowing that people are the difference. When you have the right people working for you that are aligned with your purpose / culture, your marketing will become a whole lot easier.

How to Use G-Suite so it’s HIPAA compliant with Gordon Brewer | PoP 306

Gordon Brewer speaks about how to use G-Suite so that it’s HIPPA compliant and how it can help streamline processes in your business. He takes us through the benefits of using G-Suite and how to make sure your business is HIPAA compliant. Gordon’s expertise and advice will really help you save time and work towards being more productive, by doing less.

Liz Witmer on Attracting Creative Clients | PoP 307

In this podcast Liz Witmer speaks about how she started her practice and how to attract creative clients. She is currently growing her practice, found inspiration by listening to podcasts and started educating herself by following all the steps in the 28 step checklist.

Anisha Shah on Building Self Confidence When Starting a Practice | PoP 308

Anisha Shah speaks about how to build self confidence when starting a practice. Her vision of growing her business saw her wanting to have more stability and taking in new clients. In order for this to happen something needed to change. Since joining Next Level Practice Anisha had taken steps to be more consistent with her marketing and is actively working towards her goal of starting a group practice. She has increased her rates and has had an increase of at least 5 appointments more per session.

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!

2018 Private Practice Income

2017 Private Practice Income: $456,983.53

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)

June 2018

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! $1,193.10

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: $7,439.90

Private Practice Paperwork Packet: $1,510

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! $653

Slow Down School: $2,912.70

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

$1,839.44

Podcast/Slow Down School Sponsorship: $1,572.54

Hiring out my virtual assistant: $2,351.21

Practice of the Practice Consultants: $2,823

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: $12,669.28

Million Dollar Practice Mastermind: This is a mastermind group lead by Kasey Compton and myself. To apply and read more click here. $1,747.20

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:  $27.84

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 $453.88

Next Level Practice: This is the premier supportive community that combines webinars, community, and practical tools to help start a practice.  $6,912.75

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! $109.20

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! $375

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: $6.54

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: $3.17

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! $110

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. $600

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

Harris Group: Accountant for therapists $798

Practice Solutions: The best billing company for your private practice. $833.30

Gross Total: $46,941.05

Private Practice Expenses

1099 Counselors: $4,704.50

Rent and Utilities: $2,065.25

Marketing FB+YouTube+Twitter: $0

Charter Internet/website: $110

MeetEdgar: $49

Grasshopper: $81

Practice of the Practice Profit Sharing: $3,512.06

Upwork: $74.49

Libsyn: $35

Zoom: $30

Dropbox: $0

Jamendo: $49

Virtual Assistants: $3,670.67

Drinks for the Office: $75 (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: $1,932.24

TOTAL EXPENSES: $17,107.57

Monthly Income Totals

Gross Income: $46,941.05 –  Expenses: $17,107.57 =  Total Net: +$29,833.48

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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