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Learning From Mistakes and the Evolution of Private Practice

This episode focuses on understanding the concept of how one’s private practice can change over time. Gordon talks about his own experience, going from a solo practice to a group practice, and the mistakes he made along the way. He discusses the concept of lifestyle congruence and how having a larger practice requires more resources, time, and dedication. Gordon encourages other practitioners to consider the size of their practice and its potential impact on their lifestyle. Understand Your Numbers When starting a private practice, it is essential to understand your numbers. Knowing your numbers means understanding your practice’s budget and finances and the lifestyle your practice will support. I learned this the hard way when I started my private practice in the early 2000s. It is essential to understand what you need monetarily to maintain the lifestyle of your practice and your personal life. This is referred to as lifestyle congruence. Building your practice based on what will work and fit for you is necessary. I decided to keep my practice small because I knew my bandwidth and wanted to avoid creating a large practice at that time. Outsource and Consult Sooner One of the most important assets a person has in their private practice is time. When starting, it makes sense to do some bootstrapping and do the work on your own. These tasks include getting the systems and processes in place, marketing, and making appointments. However, as the practice grows and more clients are taken on, it is essential to outsource and consult sooner rather than later. Outsourcing tasks such as making appointments and doing intakes can save time and money. It can also prevent things from falling through the cracks and help you stay organized. It is also essential to invest in coaching and consulting with experts in the private practice realm. Consulting can help push the needle forward and help you understand the skills needed to run a successful practice. Set Clear Expectations Upfront One of the most important things to remember when outsourcing and consulting are to set clear expectations upfront. Putting expectations upfront will help you better understand the financial side of your practice and the roles and responsibilities of your contractors. Clear expectations will help you better understand the financial side of your practice and the roles and responsibilities of your contractors. It will also help you ensure that you and your contractors are making a profit. This will save you and your contractors time, money, and a lot of frustration. Get Help With Your Private Practice One of the most important things to consider when running a private practice is knowing when to outsource and get help. Outsourcing can be a great way to free up your time and focus on the more critical aspects of your practice. It can also help you to get the support of people who specialize in certain areas of your practice, such as accounting or marketing. Outsourcing and getting help can help you to create a culture within your practice that is both supportive and productive. It helps ensure that everyone is working together and on the same page. When everyone is on the same page, it helps ensure that the practice is thriving and everyone is happy. More info go to: https://practiceoftherapy.com/learnin...

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