Marketing a Private Practice

Why You Need a Financial Plan for Your Private Practice

I am pleased to offer this article written by my colleague, Karin Mizgala.

Karin and I will be doing the Private Practice Finances Made Easy teleseminar course together starting on March 25/o9. Hope you enjoy it:

I know that most of you didn’t start your practice for the money. And if you’re like most busy practitioners it’s hard to find
time to breathe let alone to plan, especially when it comes to the money-side of your practice.  However, even if you don’t feel
comfortable in the world of profits and losses, debts, taxes, budgets and retirement, learning how to take control of your money
and having a financial plan in place will make you more successful.

Here are some of the key benefits of having a financial plan for your practice:

1.  It will Help You Realize Your Goals

Your financial plan is your opportunity to be totally clear and honest about what you really want. When you write down your goals you are far more likely to achieve those targets. Your financial plan will also help you set priorities and to commit to
measurable milestones in your life and in your practice. You will know exactly where you are going and how you are going
to get there.

I always remind people that a good financial plan is not only a means to achieve their financial and professional goals. It is
also a means of realizing their spiritual aspirations too. Your financial plan starts with a vision of possibilities where you
set your intentions for your private practice. What follows from there is a systematic, step-by-step, process for fulfilling your
life’s purpose — and the financial objectives that will help you get there.

2) You Can Make More Conscious Decisions & Better Choices

How much money did you really make last year? No, seriously. Do you really know? The scary truth is most practitioners don’t.
Most of us don’t have a handle on our expenses either, and many are in debt or behind in their taxes. Having a financial plan
allows you to make conscious decisions based on realities. Where are you now – and where do you want to go? Only when you have a handle on these two things can you make informed choices and good decisions. Only then can you be truly successful.

3) You Will Be Less Stressed

Being in private practice demands a lot of juggling. The greatest pressure often comes from the financial side of our lives.
Student or business loans, overdue taxes, past due receivables, or simply a bookkeeping mess, can take a lot of joy and
satisfaction from our careers.  A simple, easy-to-use financial plan will give you a system to follow that will help you feel more
organized and in control of your money so you can focus your attentions on what you love – working with clients.

4) You can Focus Your Energy and Make more Money

A little strategic planning will allow you to focus your energies better. Where do you want to spend your time? And where do you actually need to spend more time – or less time? There are many activities vying for your attention. Your financial plan gives you the practical information you need to direct your energy, time and attention — and your financial resources. For example, it contains invaluable information you need to make realistic and effective pricing and marketing decisions.

5) You Will Be a Better Role Model for Your Clients

If you’re like a lot of therapists and healing professionals you might feel guilty about wanting – or needing — to make more money from your Practice.  Money is an issue that many of your clients might be struggling with as well.  By becoming more comfortable and on top of your own finances, you can serve as a more effective role model, a trusted resource and source of inspiration to your clients. This will put you in a better place for encouraging them to get a better handle on their finances as well.

6) You Will Feel More Empowered, Better Organized and More in Control – of Your Life — and your Private Practice

One of the great feelings of satisfaction that comes from taking charge of your finances is re-gaining control of your life and
your practice. With your financial plan in place you will feel more organized and more empowered than ever before. You are likely already doing great work in your private practice and you deserve to make a good living and to not struggle financially. Your new financial plan will allow you to live the life you want.

If you liked the above article and haven’ yet listened to the free audio I did with Karin, “5 Mistakes Therapists, Coaches and Healers Make with Their Private Practice Finances” check it out.

The Therapists Leadership Conference

I am very excited to announce that I will be presenting at the first ever Worldwide Therapists’ Leadership Virtual Conference.

This is an rare opportunity to listen and connect with 15 of the most important and dynamic thought leaders of our time. The focus of the virtual conference is on leading-edge issues, trends and practice building for therapists. Here is a sample of some of the presenters: Bill O’Hanlon, Ellen Bader, Casey Truffo, Esther Perel, Michael Yapko plus many others.

The conference will be held via teleconference from April 20- April 24, 2009. The early bird deadline is February 28. You will save $30 by registering early.  Click here to check it out.

5 Private Practice Financial Mistakes Made By Therapist, Coaches and Healers – Free Audio Recording

My pal, Karin Mizgala, the financial planner and I just recorded a short audio and it’s free for you to listen to:

“5 Mistakes Therapists, Coaches and Healers make With Their  Private Practice Finances.”

Check it out. It’s free after all…

http://www.privatepracticefinancesmadeeasy.com

By the way, Karin is the woman I will be doing the  “Private Practice Finances Made Easy” 4-week
tele-seminar with that starts on March 25. There is still time to get in on the early bird price and save $50: http://www.privatepracticefinancesmadeeasy.com

UPDATE: The Private Practice Finances Made Easy is now a Home Study Program. You can get it here. A brand new intensive coaching program starts on October 7, 2009. You can find out more here.

Private Practice Fianances Made Easy