There’s more to running a business than just getting new clients. Have you ever stopped to really think about that? As therapy business owners, we wear many hats including; marketing manager, receptionist, finance and accounting department heads, facilities director, quality assurance AND the role of clinician. (And these are just a few roles we have; there are more: IT manager, back office departments, one-who-gets-supplies…etc.)
The therapy business owners that we coach at Be a Wealthy Therapist are attracting new clients and growing their practices. Yet they too know that’s not all they need to keep their practice running. They need front office support, billing processes, an operations manual, a marketing plan, and time to develop their new business ideas too. It takes a village to run a successful therapy business.
Yet this is often lost on clinicians who focus only on attracting clients. If we take the example of *Mary who wants to fill her practice- she is noticing how close she is- or how far away- from filling her available therapy hours. Yet, as her hours of therapy fill up, where does she find the time to oversee her practice, do her billing/banking, do her notes, and do treatment planning? Even if she has a cash pay practice, she still has to collect her fees, manage her expenses, and make sure she’s not overspending for what she’s earning.
It’s a lot to manage- especially because most of us therapists learned nothing about business while we were in training. You realize, right, that we learned a lot more about therapy than we learned about running a therapy business?
I’m asked sometimes why we at Be A Wealthy Therapist offer so many training programs and coaching services. The reason is simply because it takes a lot of skills to run a successful and thriving private practice- and I want to be sure you are very well equipped to grow the practice you want, no matter what size it might be. If you want to grow a part time practice, we can do that. If you want to grow a full time practice, we can do that too. If you want to grow a multi-clinician center, we can do that as well.
There are similarities in growing any of these types of practices- you must have a strong mindset, good money management, a strategy, implementation, and take a broad based perspective (you might remember this from the 5 Ingredients to a Happy, Healthy, Wealthy Therapy Practice).
The point is that all of these elements must be in place, and must be working together, in order to sustainably run a growing therapy business.
There’s much more to running a therapy business than just getting clients- and the better you manage all the individual pieces, the better your business will run.
(And if you could use some help with growing your therapy business- we’re happy to help.)