The Top 10 Questions Therapists Ask Me...#1

This is the first in a series of blog posts: The Top 10 Questions Therapists Ask Me. 

#1: Can I make good money as a therapist in private practice?

The short answer is yes. If this weren’t the answer, I wouldn’t want to be a business coach for therapists!

 I think when therapists ask this question, they are usually wondering a couple of things:

1. Are there clients out there who want to pay for therapy? and

2. Do I have what it takes to build a full practice?

I'll answer the first question first. Yes, there are clients out there who want your help. 

Many therapists have full practices and are turning clients away every day.

I know a lot of therapists with full practices who are making 6 figures. Yes, there are plenty of clients out there who want your help.  In the last two years, roughly 27% of adults in the U.S. have received mental health treatment. People in your city or town are looking for a therapist right now. They want to work with the right therapist for them, the person who will really understand them and offer hope and help. You would need a very small number of those people to work with you in order for you to run a full practice.

Now for the second question: Do I have what it takes to build a full practice?

You will need to do some inner and outer work to have a full practice. It is not about being a better therapist. If you are already helping people to find relief and to gain peace or fulfillment or better relationships, then you’re already doing the clinical work (although I know you’ll keep on working throughout your career on being a better and better therapist because that’s just how you are).

You need to be a better entrepreneur.

If that sentence makes you uncomfortable, it is probably because you haven’t been taught how to integrate being a good therapist with being a good business owner. In order to have a full and fulfilling practice, you will need to grow your entrepreneurial mindset and skill set in an authentic and ethical way.

Private practice is not for everyone,  but if working in private practice is your dream, then learning how to build it is worth it. You get the freedom to do your work the way you do it best, set your own schedule, choose your clients, and make a good living.

I’ve got a free assessment you can take right now to find out where you are now and what you need to do to have the practice you want. Click here to get started. 

Next time I'll answer question number 2: How do I decide what to charge? I'll see you back here next week. 

How To Make a Good Decision

You're stuck on a business decision. You may be deciding whether to invest in additional training, pay for a service, raise your fees, move your office...There are so many decisions you may get stuck on. Maybe you are able to decide and then a day later you doubt yourself. Here's a way to get grounded and clear. Think about your bigger purpose. Think about why you are doing the work you do. Remember what your message is and what your unique gift is.

Now with all of that in mind, look at the decision again.

Will this choice bring you closer to your bigger purpose, or will it be a distraction? For example, if you move your office, will you be better able to serve those who need you? If you purchase that training, will it help you get even better at what you're here to do? Now you're asking the more important questions. And you'll know the right answer. 

What Will Be Different When You Make It?

If you were as successful as you want to be, what would be different? Would you spend more time with your family? Would you feel more confident? Would setbacks feel less painful? Would you buy a nicer sweater?

I challenge myself to always think about what I fantasize will be different at the next level of success.

I’ll give you a small example. One thing I used to think was that once I “made it” I would have fresh flowers in my office. Flowers are a luxury, and I tend to be frugal. For me, fresh flowers are a symbol of frivolity but also of beauty and celebration. When I look at flowers I like, I feel joy. A while back my business coach challenged me to go ahead and get flowers now, and to replenish them every week for a month. I never stopped. I have a different arrangement every week, and the ritual of buying them and bringing them to my office makes me happy. Some of my clients love to look at them during sessions.

I challenge you to choose something that you fantasize you will have AFTER you get to the next level of success and give it to yourself NOW. I’m not suggesting doing things you can’t afford, but rather opening yourself up to what is possible right now.

Are You Screwing Up Your Business With The Wrong Fee?

Choosing and getting comfortable with a good fee is one of your most important tasks, and it requires examining a lot of your assumptions about money. Business owners give many reasons to charge low fees. Some of these reasons are valid, and some really aren't. Let's look at a few:

1. Clients won't come and see me if I charge more than my competitors.
2. I want people with less resources to be able to afford me
3. Clients won't stay as long if I charge more

Let's go through those one by one:​

1. Clients won't come and see me if I charge more than my competitors.​ 

If someone is comparison shopping with cost as a primary factor, then that might be true. Are your ideal clients using cost as a primary factor? Don't assume that most of them are. In your work as a service provider, factors such as how much your clients like you and how they feel about the quality and effectiveness of your work are likely to be much higher than cost. 

Sometimes the opposite is true. Many people believe that fee is related to quality. If you are charging less, many of your prospective clients will ​believe you are less capable of helping them. We know many amazing professionals charge very little, but you need to acknowledge the association between cost and quality.

​2. I want people with less resources to be able to afford me.

This is the most valid reason to charge a lower fee, and if you are called to serve people with less resources, I honor you. I also have found that charging more allows me to give more generously and I can choose to give pro-bono services when it feels right. Consider reserving your lower fee exceptions for certain people you feel strongly called to serve. Consider charging enough that you have time to volunteer. 

3. People won't stay as long if I charge more.​

This is often true! And I don't see this as a negative. When you charge more, your clients are faced with the decision of how much they can invest in themselves. When your ideal client invests a significant amount of money in your services, they often invest more fully in the process. There is likely to be much less time you are working with them when they are not fully present.

The above are just 3 examples of the dozens of reasons business owners give for charging less. I invite you to question your assumptions and shine light on your blind spots. When your business is paying you well, you can take excellent care of yourself and you can continue to provide your unique services.