Your Money Issues. Not Investing: Part 3 of 5

For five weeks, I’m talking about the most common money issues that hold therapists back in private practice. Last week I helped you identify how you may be looking away from the financial realities of your business. This week I’m talking about the issue of not investing in your business.

When you invest in your business, you give it the nutrients it needs to grow. Some ways therapists invest in their businesses are furnishing a nice office space where their clients can feel comfortable, paying for the best ongoing clinical training, hiring a business coach, hiring a professional to help you create a client attracting website, or paying for practice management software. These are investments rather than just ways to spend money because they help you attract and serve your ideal clients. They help you grow your business rather than just maintain the business you already have.

A lot of therapists say they will invest in these things when they have more money. The problem is that it takes a long time to earn more money if you don’t you’re your businesses the nutrients it needs to grow. 

Are you afraid to invest in your business?

If you’re making decisions about your business from a mindset of fear, scarcity or deprivation, it’s hard to invest.

Here’s a way to get into the right mindset to make smart investments:

Picture your business as successful and profitable. Picture yourself as a therapist serving plenty of your ideal clients, perhaps with a wait list. Now think about the investment you are considering. Does it support that vision? Does it bring you to that reality more quickly? If it does, invest as much as you can. If not, invest elsewhere.

When I hired my current business coach, I couldn’t easily afford her. As I was making the decision of whether or not to sign up with her, I used the process I’m describing here. I asked myself if working with her would support the vision I had of my business. I asked myself if working with her would help me earn more than what I was investing. My decision became easy, and I signed up.

I’m not suggesting you spend thousands of dollars creating a fancy website or buy that most expensive sofa. I am suggesting that you follow your calmer, wiser inner voice and strategically and mindfully invest in the future of your practice.

Is it time to build your practice in a big way? Apply for a free consultation now.