I started on Monday talking about why now is a good time to start in therapy private practice and, once qualified, what else we need to be ready – the 4 elements. Tuesday was Personal Therapy requirements – I think at least 100 hours, and yesterday I talked about the importance of having a Therapy Team as our back-up – Supervision (one to one), Coaching or Mentoring and business admin support – for example accountant.
Today I want to talk about Money, and why I think – for Therapists – getting and keeping a ‘Money Mindset’ is a big barrier to our success in Private Practice.
Element 4 – Money Mindset
I was working as a Business Advisor whilst completing my Counselling Studies, helping dozens of local business.
The ones that were successful had one thing in common – their clear understanding of their service, and the value of that service to their customers, and their firmness in their belief that they were worth that value.
Simply – they knew what they wanted to do or sell, and they knew what to charge and were comfortable and confident.
After qualifying I knew Counselling was a proven way to help people, potentially, all people. And I wanted to help everyone – sound familiar?
By being so vague in the beginning, I wasn’t focussed and it’s impossible to market vagueness. Attracting clients was a nightmare.
I took some of my own advice, or at least, a colleague gave it to me, and I paused and stepped back.
I needed to get a business mindset, or money mindset to be more specific. I couldn’t (and still can’t) help everybody and I needed to decide what worked for me. What would my business look like.
Which is about having an absolutely clear, written in stone, Purpose for my business, more commercial than clinical and wide ranging.
Being in business on our own is hard work, overlay that with the emotional load of therapy work and it becomes doubly so if not more.
Being clear about my business purpose is the only way I keep going during the challenges. I see that as a form of external accountability – similar to how the therapeutic process works.
The next step was to create my vision, in words and images. We know the power of as-if with clients and it’s the same for us as business owners.
And the third step is about pathways. What route do we need to take, what do we need to do to build solid foundations in the right shape for us and our business, and it might not look like we thought it would.
I know mine doesn’t, being open to free thinking can lead to opportunities we may not have considered.
Front and centre as we build our business we need to consider Money. How much do we need? What is our budget – what do we need to live and more, enjoy life.
We can have a complicated relationship with money which we may have uncovered in our therapy.
We can project that on to clients as well as receiving their own projections.
By considering our money matters first, we get used to them and are more comfortable and around money.
Sometimes the money doesn’t add up to how we visualised our practice and life. Don’t be daunted or disheartened, reach out for business support as there are other ways of getting the income we need. Colleagues are amazingly inventive in creating a blended income stream, keeping themselves safe and supported so they don’t burnout.
It’s a myth as healers that we shouldn’t charge – we should give our talent as part of universal energy exchange . . . . I think the energy balance is formalised through the exchange of money.
We can develop an ethical and compassionate Money Mindset as we build our Business Foundations and we can do this right now.
I’ll be going live this afternoon at 3:00pm to talk some more about the particular challenges for therapists and you can get a pdf of my checklist by popping your details here:
Click here to find out my 5 tech tips
Have a lovely holiday and wishing you abundance in 2020
I’m writing this on Monday 15th July. Yesterday was The British F1 Grand Prix, the Cricket World Cup and the Wimbledon Men’s Finals.
My first draw was the motor racing, then the tennis. And others in the house were interested in the Cricket.
The tv went on first to watch the cricket. The same channel then switched to the motor racing, with us switching between the two until the race started. Oh, and crossing to another channel to keep an eye on the tennis.
It was a good race, and I stayed with the programme for the 100 minutes or so of the race.
At its end, we dipped into cricket (England not doing too well) before moving across to tennis. Which went on and on. Amazing performances from Djokovic and Federer. Such technical ability, stamina and magic.
Feeding time for mutts, checked in on cricket – oh dear – and a quick walk in the cool of the evening.
And back to tennis – penultimate game, commentator notes it’s good to have an easy service game to love, when Federer fights back to several break points. And finally Djokovic wins the game. One game to go in final set before tie-break. And pop across to cricket – England need 3 off final two balls to win . . . . – stay with cricket to see England draw and the ‘super over’ process will happen. Back to tennis to find Federer held serve and the new, final set, tie break starting. Leaving me breathless.
You may – or may not – know the results. Very well done to all the winners and runners up. Amazing examples of the best in their field. Literally in the case of the cricket 😊
I felt exhausted yesterday evening – I also felt a little giddy and lightheaded from the assault on my senses of all the amazing action.
And whilst waiting to fall asleep last night, I thought that yesterday’s experiences were a heightened example of running a counselling private practice.
The motor race was (about) the length of two therapy sessions, I was dropping in to the other sports – similar to checking emails and messages from clients – and in the background (cricket) are the ongoing activities needed to run my private practice. Keeping up with regulations, keeping on top of my business record keeping.
Walking my dogs was a different type of activity -definitely part of my self-care – as well as theirs.
Yesterday was an exceptional day for sporting achievement – and yet the physiological impact on me was, perhaps, the same as every working day. Well, to an extreme level but you understand my point?
I have been reminded to have time out – to use auto-email responses and detailed voicemail message to ensure clients know when I will respond and to ensure I can have my down-time.
I have been reminded that moving between one set of skills to another requires effort and time. I sometimes discount the impact of moving between client contact, therapeutic sessions and business admin activity. Yesterday’s concentrated events are unusual, and they demonstrated to me how I feel when I put myself under unsustainable demands.
Yesterday was brilliant – I enjoyed the experience, and it was not directly client impacting.
As a reminder to note my fitness to practise and all the other activities I do, it was timely and powerful.
We are all effectively playing in the cricket world cup; racing in formula one and competing in a tennis final every day of our counselling careers.
A final observation – team work.
Every success was the result of teamwork and whilst we may work on our own, we need to have our team around us, whatever that looks like.
Let’s make sure we have the right support teams for us, as did all three of Sunday’s winners – evident in their results.
Who’s in your team, are there any gaps?
And if you have a business admin vacancy . . . . . you know where I am 😊
With warm wishes