How do you plan your business journey when your family life starts changing? Could a virtual practice solve your issue? Does it create a company that suits your needs?
In this podcast episode, Joe Sanok does a live consultation with Anisha Shah about whether she should sell her practice or start a group practice?
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Meet Anisha Shah
Collin County Counseling’s Anisha Shah, M.A., LPC-S is a sought-after counselor for both personal and relationship issues in the McKinney, Texas area. Her diverse education and clinical experience add depth to her therapeutic practice.
Specializing in individual, marriage, and family counseling, Anisha has worked with children, teenagers, adults, and the elderly. Her goal is to create a safe, comfortable and positive environment designed to facilitate healing. Using cognitive-behavior therapy and other techniques, she works to inspire hope and healing, leading to a more meaningful life for her clients.
In This Podcast
- Selling a private practice
- Hire someone to replace you
- Set up processes
Selling a private practice
If you come to decide to sell your private practice, remember that you have built the business around you, so you are essentially the product.
Consider how many sources of income you bring into your practice besides the counseling services that you provide. If you leave, so does the income source, which may deter potential buyers.
As an asset, unless you have intellectual property or you have money coming through in various income sources or e-courses or other automations, there’s typically not that much worth in the practice other than the rebuild costs. (Joe Sanok)
It may be more valuable for you to keep your assets up to date and running in the background to use at a later stage than to sell them and have to rebuild later if you decide to return to counseling.
Hire someone to replace you
Run the numbers on your income and the number of clients calling your practice.
Depending on the number of calls you get, and the clients that are converted at the hourly rate, see if you could hire someone who could work in your practice while you step away.
You would not have to be in the country to run your practice.
I think that especially post-pandemic people are much more comfortable to do most things online, whether that’s supervision or other things. (Joe Sanok)
You could run your new group practice from abroad and maybe fly in for a few weeks a year to make sure that everything is as it should be and improve it to where it could be improved.
Set up processes
There are many opportunities to work online and abroad.
The trick is to make sure that the correct structures are in place and that you have set up reliable processes so that you and your team can work together easily, even if you are on opposite ends of the world.
Useful Links mentioned in this episode:
- Visit Therapy Notes for three months free
- Group Practice Launch
- Visit the Collin County Counseling website. Connect on LinkedIn and Facebook
Check out these additional resources:
- Ask Joe: How to select associates to make sure they are a “fit” at your practice? | PoP 623
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- Apply to work with us
Meet Joe Sanok
Joe 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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