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Episode 84-How to Start a Private Practice
Startup Nation, Meet:
Katie Lemieux & Dr. Kate Campbell
Starting in private practice can be overwhelming and intimidating, but it doesn’t have to be! Let’s face it, we were taught to be great clinicians in graduate school, but most programs don’t teach us the essential business skills needed to become successful in private practice. However, those skills can be learned and we are here to support you on that journey.
This episode is packed full of tons of practice building and growing #ninjatips so make sure to grab something to take notes with and reference the below resources to help you on your journey from startup to mastery! We’ve organized this episode in steps so you can follow them one by one. You can do this! We’ve got your back!!
PLAN – Start off with a plan. If you fail to plan, you can plan to fail. Don’t make the same mistakes we did. Here are some resources to help you with strategizing your dream practice.
Goal Planning Worksheet – Download this worksheet and use it as a guide to help you build your dream private practice and dream lifestyle!
Create a business plan – listen to Amanda Patterson’s Podcast.
Create your lifestyle business – listen to Joe Sanok’s Podcast.
Create a financial and marketing strategy to set you up for long-term success.
2. BRANDING & IDEAL CLIENTS – Know thy ideal client and brand yourself first before deciding on a name for your practice.
Brand Values Assessment – this will help you identify your top 7 brand values. If you don’t determine your brand values, other people will do it for you. Your brand values will guide all business decisions so think carefully as you decide.
3. CHOOSE YOUR NAME – Assure to do steps 1 & 2 before choosing your name.
4. GET A DOMAIN NAME– Check Godaddy before you incorporate so you can assure your domain matches your company name.
5. INCORPORATE – Talk with your accountant or business attorney to find the best type of incorporation for you and your long term goal. Here are a few tax podcasts for resources.
Suzanne Docobo – Tax Strategies for Private Practitioners
6. GET YOUR EIN NUMBER – Once you incorporate you can go to IRS.gov to get your EIN number which is also known as your Tax ID. You’ll need to use that to get an NPI number aka National Provider Identification if you’re going to take insurance.
7. OPEN A BUSINESS BANK ACCOUNT – Open business banking accounts and get a business credit card.
8. LIABILITY INSURANCE – Assure you have both liability and general liability (unless you are completely online).
9. PAPERWORK & ELECTRONIC HEALTH RECORDS– We have you covered for Customizable, Attorney Approved Private Practice Paperwork.
10. MERCHANT SERVICES
Paypal, Ivy, Stripe, & through your bank
We use squareup. Here’s a link to sign up and receive $1000 in free processing
12. WEBSITE – Assure you have a customized and response website. We suggest leaving it up to the experts. Here are a few of our favorites.
Brighter Vision – get your first month free.
Daniel Fava – If you want to DIY your own wesbite check Daniel’s course out
13. Directory Profiles – It is important to have a badass therapy directory.
Psychology Today - Send us an email FIRST before starting to create the profile to request 6 months FREE.
Check out Laura Longs podcast with us on How to Create a Badass Therapy Directory
Resources & Giveaways
Guest's Contact Info:
Meet Your Co-Hosts:
What’s up #StartupNation!?! We’re so excited you’re here. In case you’re new to our community, I’m Dr. Kate Campbell, LMFT (on the right) and my business partner aka “BP” Katie Lemieux, LMFT is on the left.
We both built our thriving, 6-figure full-fee private practices from the ground up and love inspiring ambitious mental health professionals across the globe to brand themselves and grow their dream private practice!
We have a blast co-hosting the podcast! We look forward to inspiring you from startup to mastery!