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Welcome to an exciting episode with—not one guest, but two guests! I’m joined today by Miranda Palmer and Kelly Higdon, creators of the Business School Boot Camp for Therapists. Miranda and Kelly are two licensed therapists who have worked together to create a website focused on business coaching for therapists. They have a wealth of knowledge and experience to share, so let’s dive right in!
Miranda and Kelly discuss the following business aspects of running a private pay practice:
- How do you determine and justify your monetary worth as a clinician?
Be realistic about how much money you’ve invested in your education, how much you charge clients, and how much actually goes into your pocket.
- What are the key ingredients in building a private pay practice?
A clear vision is essential, along with financial planning and stress management.
- How do you figure out what to charge clients based on your geographical location?
Relying on what other clinicians in the local area are charging is not the key. You have to assess your financial goals for the future and figure out how to meet those goals. Hire a professional financial planner if necessary.
- What is your advice to someone “on the fence” about starting a private pay practice?
It’s an “eyes wide open” endeavor. Run the numbers and be honest about what it takes to do amazing clinical work for your clients, and not just mediocre work.
- How do you find the right clients who are a good fit for a private pay practice?
The right clients WILL FIND YOU! In fact, they are searching for you right now! Clearly articulate who you are and what services you provide, and always refer a client out if they (or you) aren’t a good fit.
Remember, money isn’t good or bad, but it is a resource like time, food, or energy—and it has to be managed. Miranda and Kelly have the answers to your questions. Join us to learn more, and take advantage of the resources they provide.
Links and Resources:
Zynnyme.com (Miranda and Kelly’s website: includes more than 10 hours of free training, free monthly webinars, and the Mini Business School Boot Camp. Check it out!)