Money Matters and Diversifying Practice Income with Gordon Brewer | PoP 588

Why should you put out your best content for free? What are some numbers that you need to know to boost the success of your practice? How can you structure your courses so that they are successful?

In this podcast episode, Joe Sanok speaks with Gordon Brewer about diversifying your practice income and money matters.

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Meet Gordon Brewer

L. Gordon Brewer, Jr., MEd, LMFT therapist | podcaster | trainer | speaker | writer is a  licensed marital and family therapist and an AAMFT Approved Supervisor. Gordon is the person behind The Practice of Therapy Podcast and Blog. The Practice of Therapy provides information and resources for clinicians starting, growing, or scaling private practices.

Gordon has worked in the human services and mental health fields for over 30 years. He has previously worked in agency settings and is currently in private practice as a therapist. He is the owner of a group therapy practice, Kingsport Counseling Associates, PLLC located in Kingsport, TN.   He has also served as an adjunct instructor and internship supervisor at East Tennessee State University.

Gordon is married to Mary “Sister” Brewer and they have one daughter, Rebecca who is an environmental educator.  Gordon is also a clergy person in the Episcopal Church (vocational deacon).

Visit his counseling website and Practice of Therapy website. Listen to his podcast here and get in touch via email: gordon@practiceoftherapy.com

Sign up for the Money Matters in Private Practice Course – use coupon ‘JOE’ to receive 15% off

In This Podcast

  • Reaching that glass ceiling
  • Numbers you need to know
  • Successful courses

Reaching that glass ceiling

As a solo practitioner, unless you start a group practice, you actually reach a glass ceiling. There is only so much you can charge for sessions and there are only so many sessions you can do per month/week/day.

If you want to build wealth, you need to look at diversifying your income. One of these ways is definitely to start a group practice, but there are many more ways that you can create passive income.

Numbers you need to know

Know the demographics of your area:

When you are deciding between taking insurance, being cash-pay only, or having a combination of both, it is important to be aware of the demographics of your area and to know which of those the population around you uses the most.

What is the income level of your area?

Being aware of the standards of living of the population in your area will give you ideas as to how to structure your pay systems, how much to charge, and even what kinds of services you could offer them.

Be able to know what your average per session rate is:

You can do this with both insurance-pay and cash-pay. Knowing what your average rate per session is will help you to financially plan out future business decisions.

What do you need with regards to your income to create the lifestyle that you want to live:

You are able to create the lifestyle that you want to live. Do not be afraid to ask what your time is worth. Being aware of how much income you need to be able to support your family, pay your bills and keep the business running as well as making enough income to feel secure are all possible.

You can work backward to find that point by calculating your average income from your average rate per session.

You have to really think about your “why” and, as I like to say, the lifestyle you want to keep for yourself. One of the things that I’m learning is that fast growth isn’t necessarily the best way to build wealth, but … that slow, steady growth is really where it’s going to add up in the long run. (Gordon Brewer)

Successful courses

How can you build and market courses that are successful and help to boost your business and practice?

  • Give away your best content:

This sounds counterintuitive, but you give away your best content: you build credibility with people, you put a lot of content out there … you offer people your best stuff and that builds credibility in order for them to say “well, you know, I want to learn more about this particular topic or … particular thing”. (Gordon Brewer)

You have to be persistent and consistent with what you put out there. Publish a blog or post a video every week so that you build a foundation of content and material that your clients can become interested and invested in.

Sign up for the Money Matters in Private Practice Course – use coupon ‘JOE’ to receive 15% off

Books mentioned in this episode

Useful Links:

Meet Joe Sanok

private practice consultant

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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