Bruce BassiKEY TAKEAWAYS
- When starting your own practice, it is crucial to give yourself enough time to avoid feeling under pressure.
- As a mental health professional, it is also important to build a team of support that you can tap into for advice, including your insurance companies, which have many resources available.
- It is recommended to spend extra time on the things you don’t want to change in the future, such as your business name, graphics, and website.
By understanding and avoiding common mistakes in private practice, mental health professionals can set themselves up for success.
These tips should be used in conjunction with other videos on private practice suggestions. If you are needing more guidance, Dr. Bassi has developed a course that can help guide you toward success and avoid any potential mistakes that you must be careful to not learn the hard way.
1. Building your team
Building Your Team as a Mental Health Professional and Small Business Owner
[00:00:15] As a mental health professional and small business owner, it is crucial to prioritize practice management and building your team.
One common mistake many therapists make is not putting enough time into building a team of support that can help them navigate difficult dilemmas and issues that arise in private practice. Your team should include a lawyer, accountant, and mentor who can provide valuable guidance and advice.
It is important to embrace your team and take advantage of their knowledge and expertise. However, not every lawyer, accountant, or mentor is the same, so it is important to find individuals who you feel comfortable working with and who can provide the level of support you need.
As a family therapist, you may have unique needs compared to other mental health professionals, so finding a team that understands those needs is essential.
Additionally, marketing tactics and clinical skills are important aspects of running a successful private practice.
By building a team of experts in different areas, you can focus on your clinical skills and serving your new clients, while your team handles other aspects of practice management.
Working with a team requires patience and communication. As you ask questions and seek guidance, your team may need time to research and provide you with the best possible advice.
While the process may be slow, building a strong team can be essential to the long-term success of your private practice.
2. Not putting in the time up front to get going
Giving Yourself Time to Manage Finances and Attract Potential Clients in Private Practice
[00:01:03] As a mental health professional, it is important to recognize the importance of managing finances and attracting potential clients in private practice.
One common mistake other therapists make is not giving themselves enough time to build their practice and attract more clients.
It is unrealistic to expect to hit the ground running and suddenly have a full practice. It takes time and effort to build a client base, and it’s important to give yourself at least six months to start building your practice.
In the meantime, it may be necessary to work a part-time job to maintain cash flow.
To attract more clients, it is important to focus on marketing strategies that are effective in your specific niche.
This may involve making phone calls, networking with other therapists, or targeting your ideal clients through social media or other platforms.
Managing finances is also a critical aspect of building a successful private practice. By tracking expenses, monitoring cash flow, and developing a budget, you can ensure that your practice is financially stable and sustainable over time.
While building a successful private practice takes time and effort, it is definitely worth it in the end.
By giving yourself the time and resources to attract many clients, you can build a thriving practice that serves the needs of your clients while also meeting your own professional and financial goals.
3. Developing your private practice logo
[00:01:24] Bruce Bassi: number three. Another thing that you’re gonna wanna put the time in up front is choosing your logo, choosing a graphic designer, because you’re not gonna wanna change that. It’s gonna be everywhere. It’s a really difficult thing to change.
It’s going to be on your website, it’s gonna be on letterhead, it’s going to be on business cards. It will also be branded on your EHR system, and form system, Jotform.
So don’t fall victim to lack of preparation and planning, and see what other people like before deciding on a logo or graphics.
How do you develop a private practice logo? Define the brand’s identity, mission, and values before starting the logo design process. This will help guide the design and ensure that the final product accurately represents the brand. Research the industry and competitors to identify common design elements and ensure that the logo is unique and stands out. Consider the intended use and mediums for the logo, such as business cards, websites, or signage, and choose a design that is versatile and can be easily reproduced in various sizes and formats. Work with a professional graphic designer or branding agency to develop the logo. They can bring expertise and creativity to the process, and can ensure that the design is visually appealing and meets industry standards. Test the logo with target audiences and gather feedback to make any necessary revisions. Once a final design is chosen, use the logo consistently across all branding materials to establish brand recognition and credibility.
4. Not embracing the business aspects
[00:01:45] Bruce Bassi: Fourth mistake is not understanding the business aspects of running a practice. So for example, that’s missing tax deadlines and you could get penalized for that. Missing filing fee deadlines for the Secretary of State, not setting up administrative systems.
And if you essentially don’t submit the annual report, then you’re not in good standing and you can’t run a business.
So you want to set up the appropriate administrative systems with a reminder so that you don’t miss any of these deadlines.
5. Not focusing on marketing
[00:02:09] And then lastly, focusing on marketing and networking. There’s a reason why a lot of private practice owners are often very good at marketing and networking because it’s a really critical part in running a private practice.
If you don’t have those diverse referral streams, you’re not gonna have any patients to see. Consider joining professional directories such as Psychology Today.
How do you develop a marketing strategy for private practice? Develop a strong online presence by creating a professional website that includes information about the services offered, the qualifications and experience of the practitioners, and patient reviews and testimonials. Utilize social media platforms, such as Facebook and Instagram, to connect with potential patients and promote the private practice. Post regular updates about services, events, and promotions, and engage with followers by responding to comments and messages. Network with other healthcare providers in the community and offer to collaborate on community outreach events and educational programs to increase visibility and reach a wider audience. Offer special promotions or discounts to attract new patients and retain existing ones, and gather feedback and reviews to continuously improve the private practice’s services and marketing efforts.
Final thoughts on starting a private practice
[00:02:20] Bruce Bassi: So number one was embracing your team. Number two was not giving yourself enough lead time. Number three was not putting enough upfront work into your logo and graphics and website design. Number four was not understanding that business aspects,
and number five was not investing enough time and money into marketing and networking. More so networking than marketing.
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