Are you a therapist considering ways to broaden your income streams? What can you start doing today to get the ball rolling? How can you structure this process with some of the best tips?
In this podcast episode, Joe Sanok speaks with Nicole Liloia about multiple streams of income.
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Meet Nicole Liloia
Nicole Liloia is a therapist and business strategist who helps women entrepreneurs build bigger businesses and create consistent income growth. She loves helping them create multiple income streams that allow them the freedom to work less while still making more money.
Nicole’s first business was a counseling private practice but she quickly added in multiple income streams so that she could travel more while still running her business. She got her Masters in Social Work from Columbia University and has contributed to Forbes, Huffington Post, Mind Body Green, and more. Nicole always says yes to tacos and loves Apothic wine.
You can find her online at www.nicoleliloia.com and download her free tool, the Consistent Income Generator so that you can create a personalized plan to have consistent income growth in your own business at nicoleliloia.com/
In This Podcast
- Nicole’s first steps to creating multiple streams of income
- Some examples of where therapists can build extra income
- What can get in the way of therapists adding multiple streams of income
- First steps you can try
Nicole’s first steps to creating multiple streams of income
In the beginning you want to make sure you have your own audience that you did market research with that are interested in it, and that you could sell to them first and see that it actually works – or actually even better, ask them if they want to buy it, sell it before you create it – Nicole
Nicole sends surveys to her audience to find out what kind of solutions they would like, what they would need and want, and what their general income bracket is looking like so that she can tailor a new product to suit their needs and that would be appealing to them.
Some people do not like always being sold to, but that is not her target market. Nicole recommends:
- Working on your own mindset around it and not taking it personally if people are not interested in purchasing everything you have to offer, and secondly to
- Deliver high-quality content when you post it. Consider also offering some top-quality content as well. When people decide to purchase from you, they have built up trust in your resources overtime.
Some examples of where therapists can build extra income
Therapists have great opportunities for multiple income streams.
- Group programs
- A workbook
You can fill up one-to-one client spots or small groups with good references and referrals, but in order to reach a certain number of sales and working with larger groups, you will need to work on building your audience reach.
Build this reach outside typical counseling through:
Niching down and keep specific with your target audience, because it shows off your expertise and it gives you an idea of where you need to go to reach your ideal customers.
I think that is really hard for therapists because we have so many skills and we can help so many people, and we get worried about closing ourselves off to clients. We sometimes have a lack mindset, like people won’t come to us if we’re too specific – Nicole
What can get in the way of therapists adding multiple streams of income?
For some therapists, it is getting around the idea of the fact that creating multiple streams of income is a different kind of selling. Instead of working with SEO and sending emails, you are directly engaging with and selling to people.
You have to become used to directly talking with people and getting specific with issues that they run into in terms of therapy work.
First steps you can try
- Get clear on your target market
- Develop a small freebie for them
- This helps you get visible to them and encourages them to sign up
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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.
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