What an incredible month for building private practice income! This month was a huge month for private practice income growth. Beyond just increasing income, it was a huge month for increasing the impact and influence of Practice of the Practice.
Here are some highlights:
- Brew Your Practice: I presented at Brew Your Practice in Asheville, NC with Allison Puryear and Jane Carter. I talked about finding your why, growing your business, and the seven Practices of the Practice. Videos to come!
- Gottman Conference: Christina and I attended the Two Day Couple’s Conference in Seattle, WA with Drs. John and Julie Gottman. I was so inspired that I’m doing the Gottman I and II trainings and we’re formed a formal partnership together. More coming soon!
- WeCounsel Partnership: This month I launched my partnership with WeCounsel the top platform for HIPAA Compliant video for counselors. I’m going to be offering monthly webinars and Q&A consulting with them!
- Summer 2017 Conference: I’m currently planning my two conferences for 2017 in Traverse City. Slow Down School and Pinot & Practice. Click here to get first access.
- Planning for Florida: In January I’m partnering with Jess Richards to host the Private Practice launchpad conference in Orlando, FL.
Here’s a glimpse into Pinot & Practice
To get information about the 2017 Pinot & Practice:
But probably the future thing I’m most excited about (and I say it in kind of a whisper) is this idea Christina and I had about something we’re calling the “Slow Down Conference.” I whisper because there are so many things in the works still. But it would be aimed at counselors who need to refresh and recharge, while also helping guide high achiever types (like me) through the art of slowing down to spark creativity. I’m looking at renting cabins on Lake Michigan, so housing, food, and everything but transportation would be provided. It’ll probably happen right before Pinot & Practice so we can slow down, spark ideas, and then implement them (and drink some wine). If you want to get first dibs on the Slow Down Conference, here’s the link to get on the application list.
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!
2016 Private Practice Income
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)
September 2014 Monthly Income Report $7,084.45 (but took 2 weeks off for baby)
2013 Annual Counseling Income: $54,513.97 (January-December 2013)
October 2016 Private Practice Earning Report
What I’m going to be reporting about how to make extra money and what I’m not going to be reporting
I do 5-6 sessions a week in my private practice. I don’t take insurance, so it is private-pay. As a result, I don’t have many expenses in time or actual money. I also do consulting with private practice clinicians and supervision for LLPCs in Michigan (Limited Licensed Professional Counselors), a 100 hour requirement in Michigan.
The term “passive” makes it sound like I don’t have to do work. What I mean is money that I make that is not in direct exchange for my time. I will outline what these are under each item.
In March 2015 I started also looking at how much time I spend working, then I’ll figure out my weekly average. I want to compare this to my old schedule, where I worked 40+ hours and also did 15 or so with the private practice/consulting. I do my best to report this, but sometimes based on time, I just report the income.
Private Practice Expenses
For a while I have been getting emails about my expenses. My total is the gross (total before expenses) and then I report the expenses and subtract to get the net (total after expenses).
Making Money in Private Practice | October 2016
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: $3,055.50
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: $9,700.45
Paperwork Packet: $1,770
- 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
LLPC Supervision: $902.10
Podcast Sponsorship: $1,990
Conferences and Speaking Want to hire me to speak at your event? Click here to explore bringing Joe Sanok, Keynote Speaker, to your conference: $4,712.80
Hiring out my virtual assistant: $774.06
Mastermind Group: I launched two, six person Mastermind Group for counselors that have established private practice and want to grow. It’s a monthly meeting for six months. $5,684.20
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: $47.30
Member’s Newsletter: 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 $115.43
Affiliate Marketing to Increase Revenue
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! $49.50
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! $825
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: $8.57
NameCheap is who I use to purchase my URLs, they are so easy to work with when you’re setting up a website!: $20.59
Google Ads: $5.64
LegalZoom: Legal Zoom is a great way to file your PLLC or LLC paperwork and all other legal forms: $232.65
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. $1,100
Lead Pages: This is one of the best ways to grow your sales funnel for your website! $0
ZynnyMe Business School Bootcamp referral: $1,000
October 2016 Gross Total: $37,487.87
Private Practice Expenses
1099 Counselors: $5,973.25
Rent and Utilities: $2,065.25
Marketing FB: $0
Charter Internet/website: $85
Affiliate Commission: $0
Virtual Assistants: $375
Business Cards and Rack Cards: $0
Drinks for the Office: $0 (see my blog post about how Starbucks saved my practice)
IT Support: $60
Family Health Insurance: $603.36
QuickBooks + Harris Group CPA: $9
Dedicated Hosting: $89
TOTAL October 2016 EXPENSES: $9,358.86
October 2016 Income Totals
Gross Income: $37,487.87 – Expenses: $9,358.86 = Total Net: +$28,129.01
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+ .