Should You Broaden Your Income Sources Outside of Seeing Clients?
I know of quite a few therapists who have found themselves frustrated. The list of these frustrations is extensive, but here are a few:
Last minute-cancellations
When clients constantly ignore advice
Hassles with insurance and paperwork
Each of these is a major headache. Trust me, I know. But, there’s one frustration in particular that so many people run to me about, yet I don’t see enough people getting the answers they need.
Too often, we, as humans, want more. We want more clients, a bigger business, and lots and lots of cash. Yes, I’m talking to you, therapists! Just because we help others with their mental perspectives doesn’t mean we shouldn’t shift our own from time to time.
So, what am I saying? Am I saying it’s wrong to want to grow? Absolutely not! I’ve built an entire business on helping others grow their faith-based practices…Hello, and welcome to my website!
There is a time and a place for everything. Many people are frustrated with growing their practice because they haven’t mastered the structure of what they already have.
For example, you wouldn’t encourage a child who has never ridden a bike to start with one without training wheels. You also probably wouldn’t egg on your mother-in-law to order the hottest wings in town even though she’s made it clear that she only enjoys ‘just the right amount of spice’ from time to time–or maybe you would.
In all, there are therapists frustrated with growing their practice, and at the same time, they wanna diversify their income. What would I suggest they do to start today?
Focus on what you have first.
How do you do that? Let’s break it down.
What are your goals behind your practice?
No, seriously. Go grab a piece of paper, jump on a Google Doc, or finally pull out that old bulletin board that you convinced yourself you’d use and that it wasn’t just for the feng shui. Make a list of the goals, values, and any other heights you want to see your practice reach. Have you reached any of those goals or are currently working towards them? If so, I’d say you can move on to the next question. If not, what are you doing? Start taking those steps!
What is your caseload?
Are you reaching your desired amount of clients per week that aligns with your income goals? Do you feel burned out and overwhelmed by the amount of clients, or do you find yourself twirling your thumbs, waiting for anyone to call? Oftentimes, therapists find themselves in a space where they are known for being ‘that office that has a long waitlist’ due to lack of availability for such a high demand of clients. Let’s take care of the issues at hand first.
Focus on what IS working
What is working for your practice? What are the aspects of your day-to-day that you can do in your sleep with no mishaps or surprises? Keep doing those things. Before you think about expanding, it’s important to take note of what you’re good at by tracking your success through testimonials, marketing ROIs, income streams, social media, etc. Look at what's working first and then focus on a new thing. Whatever isn’t working, do your research on how to shift it to make it better, or throw it out altogether.
Gaining Trust
When it comes to diversifying your income, you have to build up a following and gain trust–which typically takes a really long time. Let your clients, potential clients, and followers know who you are. Show your flaws and imperfections. Share your wins and well-earned credentials over time. Let those who are watching grow with you. A true audience is those who’ve been along for the ride for some time.
If you don’t gain trust before you grow, why would anyone new want to show up?
People want to be convinced you are actually human and not some robot behind a screen. People want to trust you. How else would they feel comfortable enough to pour their hearts out to you about their deepest fears and desires?
What is God calling you to do?
Last, but certainly not least, what is God calling you to do? Is He telling you to grow? Is He telling you to slow down? Is He telling you to wait? Or what about this one–has He said nothing? That one usually stings. Well, if I’ve learned anything over the years, it’s that if you don’t hear from God, do the last thing He told you to do.
Keep gaining trust with that one client who is showing up, keep measuring your stats even when it feels hopeless, and strive to master what’s already in your hands. Throw out what’s not working and move on from there.
It’s like working out; you don’t move up in weight until you are comfortable enough to go past ten reps with the weight you already have. The best way to grow your practice is to build these small, but important foundations first, then bring in something new.
Grow your practice today!
Navigating tough conversations with your team can be overwhelming, especially if you are unsure of what is the best route to take. This is why I offer a range of personalized business coaching services to help you make a plan, execute it and track the results. I offer 3-month and 6-month business consulting packages, Enneagram Training, and a Wise Practice Community Membership. Implement tracking methods for your practice today and reach out to Wise Practice Consulting if you need help getting started! Get in touch today to learn more.
Looking for Likeminded Individuals?
The Wise Practice Summit is a conference for faith-based practice owners looking to connect with one another and grow their business. This October we are meeting in beautiful Greenville, SC. Every year the summit is pack with amazing speakers, sponsors, and a tight knit community you too could belong to—learn more.
