5 Common Myths About Private Practice

1) If you build it they will come

One of the most difficult challenges of private practice is finding consistent referral sources. Come up with a marketing plan and secure a few referral sources before you hang up your "shingle." (Read Private Practice Marketing Made Easy)

2) My only overhead expense will be leasing office space

Not so. Plan on buying software for billing and record keeping, malpractice insurance, business license, incorporation fees, professional consultation, website costs, paper goods, furnishings, marketing materials...

3) I'm a good therapist so I'll have plenty of clients

There are plenty of great therapists who don't make it in a private practice setting. While being a skilled therapist helps you keep clients and makes it more likely that your current clients will refer friends and family to you, it has nothing to do with actually getting clients in the door of your practice.

4) I'll make a lot of money

Unfortunately, most start up businesses fail, and a private practice is a business. While there is potential to become very profitable, that isn't always the case. In my experience there's a lot of ebb and flow in terms of referrals and direct care hours so you can expect some months will not be as profitable as others. Additionally, all of your taxes will come directly out of your profits each year.

5) It'll be much less work than working for an agency

While it is amazing to be the "boss" and have the freedom to set your own schedule, see the clients you want to see, decide what paperwork you'll require, there is a flip side. You'll also be dealing with all of the billing, marketing, client complaints, and practice management tasks that were once taken care of by someone else.

What are some myths you used to believe about private practice?

photo credit: jeangenie

Why Therapists Need An Elevator Speech

An "elevator speech," also called a basic practice message, is a brief statement of what you do. It should take no longer than it takes to ride a few floors on an elevator and is a crucial aspect of marketing your private practice. Whenever you talk about or write about your practice, your elevator speech will help you to provide a cohesive and consistent message that attracts your ideal client and builds your private practice. Over time, your message will help you create enough awareness about your practice that people will know who you are and what you do.

The goal is to have people say, "Oh, he's the one who helps couples create closer marriages." or "She's the therapist who helps kids with attention problems find ways to succeed in school."

Unfortunately, most therapists don't have an elevator speech. Ask a therapist the simple question, "What do you do?" you'll likely get a long, jargon filled, tentative statement that might sound something like this:

"I'm a licensed professional counselor and LSAC and I work at at the Community Mental Health Center full-time in the day treatment center for A&D. Oh, and I have a private practice on the side, at night, where I see and I work with children...and some adults, to. I also like working with trauma and I'm trained in EMDR and I also use a lot of CBT. I'm on a lot of EAP panels and I see some CVR clients. I see some couples too...I like couples.

You really can't tell who he wants to see in his practice, what he does, or why anyone would go to him for therapy, right? So, here's what makes a great elevator speech.

Characteristics of an effective therapist "elevator speech"

• A few short sentences about who you are and what you do
• Uses layman’s terms (no psychobabble and professional acronyms)
• Uses positive language
• Focuses on the benefits of your services for your ideal clients (not the features of your practice or credentials your licenses, degrees, specialty areas)
• Focuses on only one aspect of your work
• Targets your ideal client
• Is memorized so you can deliver it on the spot

How To Create Your Elevator Speech

Here's a quick "fill in blank" formula to get you started on your effective elevator speech.

"I'm ___________________________________________.

I help ___________________________________________

do/understand/change/create/find ______________________

so they can  _______________________________________."

Here are some examples of my elevator speeches.

I'm therapist Julie Hanks. I help overwhelmed women find a healthy balance between caring for themselves and their family relationships so they can live fulfilling and meaningful lives.

I'm a therapist turned business consultant. I inspire therapists to build successful practices by helping them identify their passions and develop basic business skills so they can make a good living doing what they love.

During my therapy clinic staff meetings I periodically ask my therapists on the spot to give their basic message/elevator speech. One day I surprised them by asking them to give their basic message on camera for a promotional video for our website. You can watch the video here to see how they did and maybe it will spark some ideas for you.

So, now it's your turn. How do you answer the question, "So...what do you do?" Feel free to post your basic message below and I'll give you feedback!

photo credit: dfritzon