I Made Your Business Plan For Your Private Practice So You Don’t Have To
Today we are going to break down how to make a business plan for your private practice, along with a free PDF to help you construct it.
You wouldn’t buy a car without doing research and making sure it’s what you want, so why wouldn’t you do the same for your private practice?
Click here to get the FREE PDF we have created for you to construct your business plan while we go through this blog.
Making your business plan in private practice is going to help you determine what are the important points in your business.
If you ever took any sort of business class in college you know that your mission statement is the key to your business.
Don’t skip this step for your business plan in private practice… Create yours!
Think about the following questions to help you create a statement that works for you.
The 5 questions I want you to ask yourself are:
- Why do you love therapy?
- How will your private practice help others?
- Who are you trying to help?
- What topics do you help with? (This is your niche, check out our blog here if you need help picking yours)
- What personal values do you follow for your practice?
Answering these questions will give you the groundwork for your private practice and help you construct your mission statement.
The next step should be your business description. This is just a general guideline for your business plan in private practice. This should include:
- Your niche
- The approaches you use
- Your client avatar (if you missed that blog on how to create your client avatar we have it linked here now for you)
- Special skills for your business, like if you are trained to work with autistic kids, or are you bilingual
- How many clients per week you plan on seeing
- How many hours per week will you spend doing paperwork
- How many hours a week you will spend marketing
- Any other business-related jobs you will do each week
This will give you a good idea of what your week will look like, and can allow you to discuss what to expect with your loved ones when you all take this major plan on.
Be sure to check out our blog on how to transition into private practice from your agency job, it’s linked here now.
After you have completed the first two steps, you should research your competition. See what other therapists in your area are specializing in as well as how they are marketing.
This will give you a good idea of what is and isn’t working in your area, as well as what makes you different from other therapists.
Once you have done some research you need to create a financial plan.
This should be the add ups on what your costs are for running your business how you want it to. You should include:
- Software or technology fees
- Salaries of any staff (like a bookkeeper or cleaner)
- Rent
- Utilities
- Office products (like water, tissues, and so on)
- Marketing budget
Using these costs will help you set your rate as well as let you know what you need to be making to turn a profit.
After you set this up you should determine what your goals are for your private practice.
Do you want to turn it into a group practice one day, or become a celebrity therapist?
This is where you decide what you want your future to look like.
Putting these steps down to create your business plan should help you decide what the next step to opening your doors should be.
This should also create a much more realistic idea of what it will look like when you do start your private practice.
Leave us comments on how much this video helped you create a business plan for your private practice.
