Beyond the Wealthy Therapist – is your mantra ‘no more clients?’

New Business Models for Your Practice?For many successful therapists in private practice, there comes a point when one (or more) of these things happen.

1. You know you can run a successful business and are curious about how to add other (multiple streams of therapy) income.

2. You long for something new and different. You wonder if there are new “income strategies” where you could use your therapy skills and your interests in ways that could get you “juiced” again.

3. You recognize that your reach and income are limited by one-to-one sessions and are curious about ways to become a more Entrepreneurial Therapist.

4. You realize that you simply cannot hear the same-old story day in and day out for another 20 years.

5. You are ready to re-invent your business.

Let me know if any of this resonates with you. I have been working with some amazing therapists and coaches who are transforming their businesses beyond the traditional practices and I’d love to help you start thinking about some new ideas too.

So, coaching questions for you: (We’d love to see your answers below but please don’t put any identifying info about your caseload. )

1. What excites you most about what you have read so far?

2. Where could you use either support or “done for you” services to help you make traction moving forward toward your new vision?

3. What is one idea you’ve had that you’ve stopped yourself from pursuing and why?

Can’t wait to go ‘beyond the wealthy therapist’ with you!
Hugs,

Casey

 

27 Responses to Beyond the Wealthy Therapist – is your mantra ‘no more clients?’

  1. Arla says:

    Hi Casey,
    I’ve written a book, but marketing takes a lot of time and/or money, I’ve discovered.
    I keep three blogs: one daily, one weekly, one monthly but not many followers

  2. Hi All,
    You are such a creative, courageous bunch! I have a full practice, sole proprietor, do my own (insurance — ugh!) billing and am amazed at how my income has remained flat for most of my 21 years in private practice. Could it have something to do with accepting managed care? Hmmm… But I’m a realist – Would I still have a ringing phone if I stopped accepting insurance? I have some ideas about transitioning part of my services to fee-for-service. I’d like more info and inspiration about that. Thanks!

    • Casey and the Team says:

      Claire,
      Congrats on having a full practice! I spoke to grad students yesterday and I told them that someone has to market their practice – it is either them or the insurance companies. The insurance companies work FOR YOU – you have hired them to bring you clients. 🙂

      So if you wanted fee-for-service, you would need to be the marketing department of your biz and yes that takes time and energy and a lot of attention. Not everyone wants to do that.

      I don’t really think there is a “best way” – insurance vs non-insurance – it is about how do you want to spend your time – marketing to get fee-for-service or doing therapy with insurance clients. Many would MUCH rather be doing therapy and have someone else do the marketing.

      That said – what if there were other business models that still required marketing but didn’t mean more in-office clients? That is what we will be discussing on the upcoming call – “Beyond Private Practice – what is next?”

      I applaud you Claire!! Thanks for sharing your story!! You rock!
      xo
      Casey

  3. I am in a solo private practice that is self pay. I range between 10-15 clients per week. I would not say that I have all the clients that I need in my practice, but I would like to branch out with offering other services. My problem is not knowing where to start and how to implement some of my ideas. So I stay spinning in my ideas and get stuck. One idea is to provide groups with an online community and webinars and/or other learning tools between sessions. I think this would help with burnout and give clients an ability to have therapy with support and connection and sharing the cost.
    I

    • Casey and the Team says:

      Beth – I am loving this idea! So what do you need to move forward? What skills are you missing? What questions do you have? What might stop you? Let’s see if you can flesh this idea out a bit.

      Second set of questions – and certainly not to be rude – what is your commitment to this idea? Are you in love with it? Do you want to spend time, effort and some money to implement it? If so, YAY! If not, keep massaging it until you come up with an idea you can’t wait to implement!

      Hugs and xo
      Casey

      • Casey,
        These questions really made me think and I’m still thinking. Getting clear on my niche, plan and ideas is quite the struggle but I’m getting closer and closer. Thanks for connecting with me and I look forward to the upcoming call.

  4. Rebecca says:

    Hi. I’ve been in full-time private practice for almost 8 years. I’m a sole proprietor, but share most business decisions with a colleague. We had two interns this year, but I didn’t find that supervising added to my enjoyment of my job. We rent space to 7 therapists, so our overhead is almost nonexistent. I see 20-25 client/week and do my own billing. I should be happy about my success, but I’m tired and burned out. I want to feel excited and satisfied by my work. My passion is with the Occupy activist movement, and I want to find ways to add joy to my work life without detracting from my activist work. Help!

    • Casey and the Team says:

      Rebecca,

      I agree – you want to find ways to add joy! Consider this: How might you do your activist work with a business model that added joy and money? Hmmmm…any ideas pop up? (I hope you will be able to join us for the upcoming call on ‘Beyond the Wealthy Therapist.. What is next? for the entrepreneurial therapist’)
      xo
      Casey

  5. Karla says:

    Hi Casey–I have a book coming out in the fall, and I love to write, and plan to do more, but I have very limited time with a 4 year old at home. I just opened my practice Jan 2011 and became full within a year. I stopped taking any new clients as I was finishing up the book and am only working 3 days a week for the summer to be home with my daughter. I plan to go back to the office 5 days a week in the fall and figure that I will be able to add the 10 or so clients at that time. My experience has shown me that I will fill up quickly–after that, seeing usually between 5-7 people daily, writing when I can–how do I branch out so that I can increase my income without being insurance dependent, doing what I love and am good at while still having time for my family? I look forward to hearing your ideas!
    –Karla

    • Casey and the Team says:

      Karla,

      Such great questions. And I bet the answers are closer than you think. 🙂

      Imagine if you didn’t have to value your time in an hourly-wage? If you could do something that you enjoyed that allowed you to leverage your time so that you had more time with your daughter? Or imagine if your writing brought you many more clients and those clients were willing to pay you a lot more money?

      Keep thinking and stay tuned for more 🙂
      Hugs,
      Casey

  6. Carolyn says:

    I have a full caseload, and my 7 associates and 1 intern are doing well and continue to have growing caseloads. I’ve written a blog now for about 4 years…probably 2-4 entries a week, which has been great for the website, and developed my interest in writing. I now play with ideas…do I write a book, do I do some cool groups, do I go into supervision of therapists on a more official basis? I’d love to be more creative in both the work I do, and developing different revenue streams. Looking forward to hearing your ideas.

    • Casey and the Team says:

      Hey Carolyn,
      YAY! I can see you get it! There are so many business models and ideas. Keep thinking about what you love and how you might deliver that in ways people would pay for. (Hope you can join the call!!)
      Hugs,
      Casey

  7. Nicole says:

    I too have a full practice, intern, co-produced a dvd, co-own a group practice and offer coaching. I would like to be behind the scenes more-running things. I am not sure exactly how.

    • Casey and the Team says:

      Nicole,
      I love it that you’d like to be more ‘behind the scenes’ – I invite you to start thinking about how your ‘behind the scenes’ work could be very valuable and might be something people paid (and paid well) for!
      Hugs,
      Casey

  8. Art Maines says:

    Hi Casey,
    Thanks for this new initiative. I’m eager to get beyond insurance-dependent income and branch out into multiple streams of income, especially what you call leveraged income. I’m working to make that happen with my new book coming out this summer, but I would also like more ideas for how to make money from writing and products. I’d also like ideas for monetizing my current and future websites. Thanks so much!

    • Casey and the Team says:

      Art,
      Great! Start by getting clear on what you LOVE and the wisdom you have to share. Then let’s look at alternative business models. Also, get clear on your ‘money paths’ – how much would you like to earn from each and/or which ones feed into others.
      Just my two cents – xo
      Casey

  9. Laurel Fay says:

    I’ve expanded my practice to include 4 part-time associates; Greg, we do a 60/40 split, and it works great. Though I’m always looking for more clients for them (my goal is a waiting list for all!), for myself I’m focused on info products and passive revenue options. I’ve been thinking about it for literally about 6 years, and am trying now to really DO it! I love writing, but the whole process seems daunting.

    • Casey and the Team says:

      Laurel,
      It is so great to hear how ‘entrepreneurial’ you are! I can’t wait to connect more with you and other leading-edge clinician-biz owners on other ideas I have for more income for you. (That said, I am trying to eliminate the expression ‘passive revenue’ and replace it with ‘leveraged revenue.’ (Stay turned for more on this.) YAY!!!
      xox
      Casey

  10. I’m adding a coaching service to my practice. I’m in the process of creating my first product and need to know how to set up bridge lines, record a session (for later sale).

    • Casey and the Team says:

      Patricia,
      YAY! You can use lots of different bridge line services – we love instant teleseminar. That said, there are free ones out there too.
      Hugs,
      Casey

  11. Anne says:

    I would love to write a book,I love writing and regularly write free articles for local publications but if I could make money from writing as well as from seeing clients,I would love that.I’m contemplating a blog first but really don’t like computers!

    • Casey and the Team says:

      Anne,
      Have you researched how to make money from writing?
      xox
      Casey

    • Art Maines says:

      Hey Anne,
      You can create a blog! I started mine in December, 2009, and I’m amazed at how easy it is. If you can send an email you can create a blog. I’ve used a platform called Posterous to start mine, and it really is that easy. Take a look at http://www.posterous.com. Good luck!
      Art Maines, LCSW

  12. I’ve wanted to have groups related to dealing with strategies important for people: “smooth sailing in turbulent times”, “gracefully dealing with changes”, dealing with the necessities of things related to each of our own mortality–the “have it on your terms and give the gift of instructions” kind of thing… but I don’t want to do this by myself. I want to co-facilitate them.

    • Casey and the Team says:

      Glad that you are clear on what it is you want. So let me ask you a deeper question: What is it about the groups that is calling to you? What are the personal and business reasons you would want to do them? Looking forward to hearing your answers!

  13. Greg Allen says:

    i have my max in clients and am trying to increase revenue by adding therapists to group practice and splitting % of their income… however, it doesn’t seem like that much more $ are coming in…. maybe it’s the 70-30 split but i can’t justify more than 30% for the business..
    we’re looking at adding workshops, seminars, doing speaking, conferences, but still looking for other ideas…

    • Casey and the Team says:

      Greg – congrats on what you are doing! I look forward to sharing some new ideas with you too!
      Hugs,
      Casey

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