Multiple Streams of Income in Private Practice (how I took 5.5 weeks off) | January 2019 Monthly Income Report

Multiple Streams of Income in Private Practice (how I took 5.5 weeks off) | January 2019 Monthly Income Report

Do you have a big idea inside of you that is dying to get out?

Are you ever working with your clients and think, “This is something that the rest of the world needs to hear?”

Do you wonder if your ideas could go national or maybe even international?

The Big Ideas Mastermind is for people that have big ideas that they want to launch to genuinely change the world!

Maybe you want to launch:

  • A podcast
  • An e-course
  • Consulting
  • A book
  • A keynote

What is your big idea, that will go beyond your private practice and get you to the next level?

Read more about the Big Ideas Mastermind Group starting spring 2019. 

I took 5 1/2 weeks off and it didn’t change my income

I’ve been planning for a while to get to the point where I can create income, whether or not I show up. The myth of “passive income” is that you never do anything. In fact, passive income is actually just a lot of planning and moving away from time = time.

Here are the ways I have built passive income:

  • Replicating what I’m doing by having counselors and consultants also serve people
  • Building a membership community, where there is predicable and recurring income
  • Looking at the resources I use and building out affiliate relationships

Passive income actually takes a lot of planning. For me to take this much time off, I needed to have systems in place to field email, automate payments, and keep things moving. I never checked my email the entire time. Instead, my Director of Details checked and responded.

She texted me three times with pressing items. Other than that, she just starred the emails for me to review. Also, the first week back, I blocked out “To Do List” time, where she could put in the most important items.

Often we see tasks, emails, and work as all being the same, but there is a better use of your time than in other areas. With a lot of planning, the right team, and preparation I was able to pull it off.

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

Top Private Practice Stories

Setting Up Systems For Your Practice – For Beginners

Setting Up Systems For Your Practice – For Beginners

Something that has helped me in my practice is implementing a few systems for when a potential client calls or emails me for a new session. I’ll share what has helped me and maybe it will spark an idea for yourself when it comes to being productive vs. being busy and overwhelmed.

Marketing Strategies For Growing Your Practice

When it comes to growing your business online, there are so many different strategies and tactics out there being promoted as the right ones. But the truth is there isn’t any particular strategy out there that’s right or wrong – only what’s right or wrong for you and your business. It’s always important to keep this in mind and try not to be distracted by the latest fancy techniques and strategies being promoted by the so-called gurus online.

Small Business Strategy Development

Nowadays, most people would agree that business growth is a necessity as opposed to an option. However, in order to take your company to the next level, you need a solid strategy in place. In order to take your company to the next level, you need a solid strategy in place.

Private Practice Podcasts

Hal Elrod Has a Miracle Morning Routine | PoP 347

In this podcast episode, Joe Sanok speaks with Hal Elrod about his bestselling book, his positive morning routine and how 6 small daily acts in the morning can change your life.

 

Kelly Higdon Wants to Calibrate Your Year | PoP 348

In this reverse podcast episode, Jaime Masters interviews Joe Sanok about all things in private practice, what he teaches and whether you should be a specialist or a generalist.

 

Dr. Julie Schwartz Gottman on Eight Dates: Essential Conversations for a Lifetime of Love | PoP 349

In this podcast episode, Joe Sanok speaks with Dr. Julie Schwartz Gottman about the origins of some of their greatest research and implementation as well as how to market yourself as a speaker and a trainer.

 

Mike Michalowicz Wants You To Focus on Profit First and Running Your Business Like Clockwork | PoP 350

In this podcast episode, Joe Sanok speaks with Mike Michalowicz about how to make sure you are always making profit first, how to get the point that your business is running itself and like clockwork.

 

Allie Casazza Makes Five and Six Figures Per Webinar Talking About Minimalism | PoP 351

In this podcast episode, Joe Sanok speaks with Allie Casazza about minimalism, turning her passion into a business and how to make money with webinars.

Health Insurance, How to Charge No Show, Do You Need Another LLC, and Questions About Killin’It Camp | PoP 352

In this podcast episode, Joe Sanok addresses some questions about health insurance, how to charge no shows, whether you need an LLC and some questions about Killin’It Camp.

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 $587,618.41

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)

January 2019

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! $897.25

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: $8,899.75

Private Practice Paperwork Packet: $780

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:

  1. Evaluating KPIs of time and income
  2. Creating systems to scale the business
  3. Evaluating big ideas to generate non-time income and increase innovation, influence, and impact

$1,552

Podcast Sponsorship: $1,572.54

Hiring out my virtual assistant: $1,114.26

Practice of the Practice Consultants: $9,504.06

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: $1,261

Million Dollar Practice Mastermind: This is a mastermind group lead by Kasey Compton and myself. To apply and read more click here. $5,238

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:  $6.96

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 $389.04

Start a Group Practice MastermindThis Mastermind Group is limited to 12 people and is focused on the beginning stages of starting a group practice. How do you add a W2? How do you add a 1099? What contracts should you have in a private practice? How to set up systems? Alison Pidgeon teaches about group practice, does Q&A, and also you get hot seats. $5,048.85

Next Level Practice: This is the premier supportive community that combines webinars, community, and practical tools to help start a practice.  $11,963.28

Blogging CourseThis is the best 12-part course on how to blog to rank higher in Google for therapists. $0

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! $61.33

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! $900

VA Referrals: $1,077

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: $18.27

SwiftFile: I just started using them instead of LegalZoom, they’re cheaper and way better with customer service! $385

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. $200

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

Harris Group: Accountant for therapists $0

Practice Solutions: The best billing company for your private practice. $845

Gross Total: $51,713.59

Private Practice Expenses

1099 Counselors: $6,081.25

Rent and Utilities: $2,200

Marketing FB+YouTube+Twitter: $0

Charter Internet/website: $110

MeetEdgar: $49

Grasshopper: $81

Practice of the Practice Profit Sharing: $0

Upwork: $0

Aweber: $149

Lyft: $0

Teachable: $39

Google Suite: $52.73

Libsyn:$35

Zoom: $69.98

Dropbox: $0

Jamendo: $0

Virtual Assistants: $5,379.73

Drinks for the Office: $0 (see my blog post about should I offer drinks in my private practice)

Shipt: $12

Moo: $0

IT Support and Hosting: $95

Family Health Insurance: $603.36

QuickBooks + Harris Group CPA: $11

Other Consultants: $11,667.05

TOTAL EXPENSES: $26,635.10

Monthly Income Totals

Gross Income:$51,713.59 –  Expenses: $26,635.10 =  Total Net: +$25,078.49

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-version

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+ .

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