Private Practice Chronicles, Part 12: Rookie Mistakes, Part Two

I’m a year-and-a-half into owning my private practice (woot, woot!!). I wrote a blog back in June about my first set of Rookie Mistakes, and now I’m back to share Part Two of a few things I’ve learned the hard way.

I know in retrospect when I read these they seem so obvious…like, DUH-obvious……but the fact of the matter is these things are easy to overlook when you’re flying solo.

So here are five more Rookie Mistakes for you to avoid if/when you are thinking of opening your own private practice:

1) Keep your Forms Updated – Then Update some More –  I had an emergency contact space on my original form…..oh wait, no I didn’t!!! I mean, can you believe I did that? How did I discover this huge oversight? When I had a client in a really bad situation contact me and I needed to get in touch with a family member. Only when I pulled his file did I realize this horrible mistake. I now get at LEAST one emergency contact name and number per client. And I’m constantly updating my forms to add other crucial info (pregnancies, miscarriages, etc.)

2) RUN the Credit Card your Clients give you to Keep on File – One of my business practices includes keeping a client’s credit card on file to charge future appointments (or no-shows and less than 24-hour’s notice of cancellation). I have a form where clients voluntarily fill in their Credit Card info, then I manually run them at the end of the day. Oh, how naive I was to think they were writing down the correct number!!!! This is especially crucial for a cash-pay only business. Run that card with them in the office first to ensure it is a valid card.

3) Don’t Scrimp on Office Space – My first office space didn’t have a window, because, quite frankly, I didn’t have any clients and a window seemed like an unneccessary luxury. My practice grew quickly, and soon my tiny windowless office just wasn’t adequate for my clients – or myself. Upgrading to an office with a window makes all the difference in the world. So get the best office space you can (even if it means you have to hustle extra). I chose a secure building in a nice area with a shared receptionist and coffee/tea service included. It’s a nice space for my clients, who are spending their hard-earned money to come and see me. And now they have a window!!!

4) Wasting Precious Advertising Dollars – When you start out, everyone and their brother is going to call you (and call on you) to advertise with them. I have a marketing background, so I know the value of advertising and I needed to grow my business. One of the worst investments I made was buying a very expensive print ad in a local paper. I didn’t receive one call or email from that ad, and I think I’m the only person that saw it. My dollars would have been better spent on online advertising, where I receive the most return on my investment.

5) Not Setting Personal Boundaries –  Starting a business is a 24/7 venture. It’s not a 9-5, Monday through Friday job. You must feed it constantly, or it simply won’t grow. But here was my problem: You want a 7:00 a.m. slot? Yes. You want an 8:00 Saturday morning slot? Yes. You need to text me at 10:00 at night? Yes. You need an 8:00 pm slot? Yes. Answer my business line at 10:00 a.m or 10:00 p.m. on Sunday? Yes. Pretty soon all of these “Yeses” were taking a personal toll, on both myself and my family. I’m still working hard on this one, but I’m setting more limits starting with phone and email activity, and I have a hard and fast last 7:00 p.m. appointment during the week.

My mistakes are and have been an amazing way for me to learn and grow, both personally and professionally. What are your (if any) rookie mistakes? I’d love to hear about them, how you discovered them, and how you handled them.

Blog Post: Private Practice Chronicles, Part 5: Rookie Mistakes

I’m near the one year mark – one year! – of owning my private practice. It was a dream and ultimate career goal from the time I decided to go back to grad school in 2010. Seven years later, an opportunity arose, in the form of a sudden and unexpected (boy, I didn’t see that one coming) job layoff, some office space that became available, a person willing to share the rent and just like that, a dream became reality.

Shy of one year in my practice, I just re-signed a lease (solo, yikes!) and couldn’t be happier. I’ve had some big successes co-mingled with a lot of hard lessons. Here are five rookie mistakes for you to avoid if/when you are thinking of opening your own private practice.

1) Find a Niche – I was all over the map when I started. Honestly. As a therapist, you can’t be everything to everyone. So don’t make the mistake of taking all business just for the sake of taking business. Figure out your strengths (and weaknesses), find your niche, and work on perfecting it. Refer cases beyond your expertise to others in your community. In time, they’ll refer back to you.

2) Stay Organized – Owning a business means you are all departments – IT, accounting, scheduling, marketing and everything in between. This is a constant challenge for me. When I’m not seeing clients, I schedule time in my day for meetings, marketing, social media management, paperwork or general planning, depending on what needs to be done. Set up systems that work for you so that your practice can run efficiently.

3) Safety First – I’ve taken new clients at 8:00 p.m. and weekend slots where my usually-bustling office building was desolate and I was isolated and alone. Looking back, considering the line of work I’m in, some of those clients would have been better for me to see during normal business hours until I got to know them better. Looking forward, I only schedule my known and established clients during my irregular times.

4) Have a Business Plan – I’m going to make all you MBA-types (and my accountant) cringe right here: I didn’t write one. Well, not an official one. Oh, I had a list of things to do (website, PLLC, business accounts, etc) and lots of ideas swimming in my head. But get your business plan down on paper, including all start-up costs, projected expenses, and number of clients you need weekly to break-even, turn a profit, and cover expenses. Refer to your business plan monthly, and make revisions as needed.

5) Don’t Panic – Owning a business has its ups and downs. Some months are better than others. Case in point: my most profitable month was one where I was off for a week on vacation. The next month was slow (and I mean, slooooooooow). During this slow month, someone approached me coming to work for them – notice I said “for” not “with.” I considered this offer for a few days (what if I don’t make it? what if business continues this slow? What if what if what if?) but decided to continue working to build my practice. Sure enough, not two weeks after turning down the offer, some well-paying, substance-use contract-work came my way. If I had panicked and thrown in the towel, I would have been giving up not only my dream, but this other, better-suited opportunity.

I’m still making mistakes, and learning from each and every one. Mistakes are simply par for the course of owning your own business. Don’t dwell on them. They happen to everyone – just don’t repeat them, and learn from them. Best of luck with your own practice, and I hope reading about my rookie mistakes help you avoid making your own.