Business Coach
Are You A Therapist Struggling To Make Ends Meet?
Do you feel burned out trying to manage an insurance panel caseload that overwhelms you with too many clients billed at a low hourly fee? Once your passion, have you lost motivation and inspiration to be a therapist? Without the opportunity to advance your practice into a lucrative career in your current arrangement, are you wondering what your next step should be?
It’s a common trap many mental healthcare professionals fall into—you’ve gone through the arduous process of getting credentialed so that you can join insurance panels or obtain a W-2 position. That way, you can get a steady flow of referrals without the time or expense of having to market your private practice yourself. But perhaps what’s at the end of the rainbow isn’t what you expected.
Do You Feel Like You’re On An Endless Hamster Wheel?
Instead of seeing clients you connect with, you might be churning through five or more clients per day at a low billing rate that doesn’t reflect what your services are actually worth. Once you add up your take-home pay, you may realize that it’s nowhere near how much you thought you’d earn as a licensed mental healthcare professional.
With work-life balance out the window, you probably feel exhausted and stressed over money concerns. Working so hard for little compensation might be impacting your ability to be consistently productive in sessions or spend quality time with your family.
As much as you like the idea of building a full-fee private practice, you may be intimidated by the idea of charging premium rates for your services. But what if by partnering with a business coach and consultant who has walked in your shoes, you could create a purpose-driven practice that provides you with greater impact, income, and work-life balance? The good news is that you can.
Today’s Model Of Insurance-Based Therapy Undervalues The Therapist
Sadly, the insurance panel environment that so many private practitioners currently work within offers us diminishing returns. According to private practice business coach consultants Miranda Palmer and Kelly Higdon, co-authors of the Therapist Burnout Recovery Book, "With the normalization of unsustainable caseloads and limited income opportunities for traditional employees, therapists are essentially pushed into an oppressive system that takes away their time, earning potential, energy, and, worst of all, love for the work they do". (1)
1. https://www.amazon.com/Therapist-Burnout-Recovery-Sustainable-Practice/dp/B0BP45V4WG/
The Reasons Therapists Are Prone To Burnout
Financial therapist Lindsay Bryan-Podvin has identified the common beliefs that lead to therapist burnout. First of all, we usually don’t go into the mental health field to make money because we see that as conflicting with our mission of social justice. What’s more, when starting out, we often have the mentality that we have to say yes to everyone and, if our practice doesn't hit six figures right away, we conclude we’re not doing it right. What also contributes to burnout is that we commonly value a do-it-yourself attitude and strive to build our practice as cheaply as possible, adhering to the false narrative that if we raise rates, we will lose clients. (2)
Building a full-fee private practice and charging premium rates requires a different mindset about your business. You have to have the courage to leave the comfort and security of your W-2 job or insurance panels and leverage your clinical skills by identifying what your specialty is.
It is up to you to ensure you target the clientele you can help the most and get paid fairly for the work you do. Private practice business coaching and consulting can help you cultivate the entrepreneurial mindset, offer you valuable community support, and, with counseling, protect you from compassion fatigue and burnout.
2. https://graddiversity.princeton.edu/our-team/lindsay-bryan-podvin-lmsw
As A Business Coach And Consultant, I Offer Mindset, Money, And Marketing Strategies Customized For Mental Health Entrepreneurs
To build a successful out-of-network private practice, you need to wear two hats—therapist and entrepreneur. While you are confident in your talents as a therapist, you may feel unskilled as a business person. That’s why business coaching and consulting is an invaluable investment in your future. With the option of one-on-one coaching and consulting to help build your small business, I will teach you how to think like an entrepreneur and cultivate the right mindset to create the purpose-driven practice you’ve always wanted.
What Private Practice Business Coaching Offers
As a business coach and consultant, my programs are focused on identifying the overarching values, goals, and expectations of your practice that will be vital to the success of your company, as will developing sound business knowledge. I will also help you become crystal clear about who you are serving, how you can help them, and develop a solid marketing strategy that ensures your ideal client can find you. With effective marketing, you will understand how to leverage your personal story to develop your ideal client profile.
Your money mindset and how you show up for your business directly impact the quality of your clinical work and client outcomes. I will help you create income goals, produce profit and loss statements, and be empowered to talk openly about finances with clarity and confidence so you can overcome any money issues you may currently have.
A pillar of a successful private practice is “niching down” to a specialty that enables you to charge premium fees. My money mindset training and habits will instill you with the confidence you need to acknowledge the value of your services. I will also help you prioritize your self-care and offer you strategies to protect yourself from compassion fatigue and burnout. I aim for you to be a better steward of your life, relationships, licensure, time, talents, and resources.
If you feel discouraged about your current career path, I am here to remind you that you belong in this field. The nature of the work you do is transforming lives, strengthening families, and instilling hope in the world. Your ideal clients appreciate you and value the services you offer. My mission as a business coach and consultant is to help you optimize your impact, income, and work-life balance so you can show up energized with purpose and passion where you live, work, and play.
About Jamal
Jamal is a Licensed Marriage and Family Therapist (LMFT), small business owner, speaker, business coach, and consultant. As a Master Storyteller, he has received the #1 designation for professional speakers, coaches, and influencers (3). Jamal is a member of the Million Dollar Storyteller Academy, an exclusive Mastermind for purpose-driven entrepreneurs, speakers, and coaches. Jamal's mission as a business coach and consultant is to help mental health entrepreneurs achieve greater impact, income, and work-life balance for the glory of God and the benefit of others.
3. https://www.masterstorytelleracademy.com/msa57180999
But You May Wonder Whether Working With A Business Coach And Consultant Makes Sense For You…
Will business coaching for my private practice be a good return on my investment?
As an entrepreneur, it is up to you to determine the type of results you want from your business. My recommendation is that you invest in yourself and your company to the level at which you expect results (4). If you enter private practice business coaching properly motivated, resourceful, team-oriented, and willing to hold yourself accountable, your Return on Investment (ROI) has the potential to be substantial.
4. https://www.forbes.com/sites/theyec/2020/02/11/entrepreneurs-what-it-means-to-invest-in-yourself/?sh=2a8ecb641e9d#:~:text
How do I know the goals you set for me will be aligned with my personal goals?
We will initially set up a free discovery phone call to determine if we are a good client-coach fit for your private practice business. To be successful in our coaching programs and group masterminds, you must be licensed and in private practice, have a specialty, be willing to charge a minimum of $200 per session, want to diversify your income, cultivate positive relationships, and form strategic partnerships.
I’m afraid to leave the comfort and security of insurance panels/my W-2 job.
Although your client base may be steady and reliable, staying in the comfort zone that insurance panels, community mental health, or other W-2 work could be undervaluing the services you’ve worked so hard to acquire. Legendary basketball coach John Wooden defined success as “peace of mind, which is a direct result of self-satisfaction in knowing you did your best to become the best you are capable of becoming. (5)" Helping you recognize that you have what it takes to take your business to next level is what a business coach and consultant like me is here to do.
5. https://fit-to-speak.com/articles/12-things-coach-john-wooden-can-teach-you-about-being-a-better-presenter
Are You Ready To Take The First Step In Building Your Private Practice?
The most effective business coaches and consultants are gifted in their ability to motivate and inspire people to go further and to achieve more than they can on their own. If you want to cultivate the right mindset, level up your business, and be part of an awesome community, I invite you to contact me and schedule a discovery phone call to see if private practice business coaching is right for you.
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