How to make extra money
In March I was gone from March 25-31, so I really only had 16 days to see clients, do LLPC supervision, and consulting! We’ve been bouncing back from the time change, so that’s why this income report is a bit later than normal, so thanks for waiting! Also, over the past few months I’ve been discussing how I have sought to find balance. In late March, I headed with my family to the American Counseling Association Conference in Hawaii. During the travels, I decided to read a book I’ve been really interested in, The Power of Now: A Guide to Spiritual Enlightenment. Millions of people read this before, so I won’t summarize too much of the book, but for me it was a great reminder that I need to focus on enjoying what’s in front of me. Of course we can plan and set a vision, however, enjoying the moment is all we can do. For me it has been a wonderful practice. In March there were a number of great developments:
The Private Practice Mastermind Group
The private practice mastermind group is every Friday from 12:00-1:00 EST, we’re covering marketing, business, and how to have more private practice customers. They are all for sale and also you attend the live ones. Here’s a link to Wayne Kessler’s website (my partner in this endeavor) to sign up for the next one or purchase past ones: Here’s a link to sign up for next week’s Private Practice Mastermind group, it’s only $49!
Website Overhaul to Change Bounce Rate
I did a complete overhaul of my website with the help of Legendary Lion website design. Sometimes it is more efficient to hire someone to help you get to the next level, here’s a blog post I wrote about hiring a website designer. Also, we’re working on a logo. I originally was going through Logo Design Street, but was not very happy with the results. Legendary Lion is doing it for $200, and it’s looking amazing! That should go live sometime in April 2014. I’m hoping that this helps with my bounce rate.
Private Practice Consultant Work
In March I added more private practice consultant gigs to my work. I have had a number of inquiries about private practice coaching. I’ve been meeting with folks in person (locally) or over the phone. I give a few proposals to help them meet their goals, do a SWOT (Strengths,Weaknesses, Opportunities, Threats) Analysis, often a website build or redesign, optimize for SEO, include 5-10 hours of coaching, and give a bunch of free stuff like my paperwork packet and e-book. I also look at how quickly the changes will start and how quickly they will see a ROI to find a break-even point. It is usually as quick as 3-5 weeks!
Lastly, I had an amazing time at the conference. Soon, I’ll be writing some posts about the effectiveness of some of my marketing efforts. But first, here are a few photos from the conference.
Great things you may have missed in March
Past 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!
2013 Annual Counseling Income: $54,513.97 (January-December 2013)
March 2014 Earning Report
What I’m going to be reporting about how to make extra money and what I’m not going to be reporting Full-time Job: Since some of you are new and some of you have been around Practice of the Practice for a while, I’m going to give a quick summary of where I make income. My full-time job is at a community college as a counselor. I love the job and it gives me great opportunities. Also, since my wife stays home with our daughter it is an income we can count on, health insurance, a pension, and a really great environment! I’m not going to disclose my full-time wages there, since it is not something that is part of my private practice. Private Practice: I do 4-7 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. Passive Income: 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.
How I made extra money in March 2014
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.
Counseling, consulting, and useful products
Private Practice: (25 sessions, January was 19 sessions, November was 15 sessions) $4,470
Other counselors: I have two counselors that work for my practice as 1099 contractors and I get a portion of what is brought in: $375
Paperwork Packet: $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 it:
- A SWOT (strengths, weaknesses, opportunities, and threats) Analysis
- Website redesign or re-optimization
LLPC Supervision: $770
The Motherload: $0
E-books: This was one of the best months ever! I’m going to look into how/where people are coming from. It looks like a spike later in the month. $118.15
Paperback Copy of my book Mental Wellness Parenting: A remarkably simple approach to making parenting easier. Most people would see this as a really bad thing, however, when I wrote the book, I really wanted to focus on it being something to hand out to clients or potential referrals. It’s sort of an over-sized business card. It’s great when people buy it, but I’m not disappointed when they don’t, since i see it more as a marketing tool: $0
Private Practice Mastermind Group: I launched the Private Practice Mastermind Group to help build my own skills and share what Wayne and I have been learning about marketing, business, and private practice. Here’s a list of what we’ve covered. The recordings are $49 each. In March it grossed: $656.36
Member’s Newsletter to Launch/Grow a Practice
Member’s Newsletter: I’ve had some ups and downs this month on this one. I am continually looking for links to the old newsletter, since people keep subscribing to it. I need to re-launch the e-book, since the old links are in there, but that will probably not get done until mid-May once the logo is done. It is still the best tool I offer. It’s exactly what I wish I had when launching my practice, a step-by-step guide with everything from filing the LLC, bank set up, rental space, and marketing. This newsletter helps folks with struggling or new private practices to learn how to go from no practice to a thriving one in one year. 200% money-back guarantee! This number does not include folks that signed up via The Motherload: $136.20
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! $5.70
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! $195
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! This month was a down month, but I have been de-emphasizing some of these affiliates since they don’t bring in much and can make the site look cheezyyyyy! $1.90
NameCheap is who I use to purchase my URLs, they are so easy to work with when you’re setting up a website!: $12.16 Google Ads: I have a few ads through the website and these bring in a bit of passive income. Since my podcast interview with Sarah Barnes I’ve been doing a lot less of this: $14.26
March 2014 total: $10,645.70
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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. I report what has been sold in the month it was sold. Also, I do not take expenses off of this report.
Joseph R. Sanok, MA, LLP, LPC, NCC is amazed how much fun it is to help other people in business and counseling! He helps angry kids, frustrated parents, and distant couples at his private practice in Traverse City, MI at Mental Wellness Counseling. Also, he is the author of Mental Wellness Parenting | A remarkably simple approach to making parenting easier. To link to Joe’s Google+ .