Private practice professionals typically conduct personal, intimate services that address the biggest, most important human needs, goals, and challenges. In any other industry, the ability to solve such problems would attract venture capital investment far and wide, making wealthy the providers of such critical expertise.
Then why are so many practitioners—therapists, coaches, and other trained and dedicated healers—struggling to get clients, make a living, and command fees commensurate with their gifts and contributions? Simple: They are motivated by ideals, not profits. They shy away from calling attention to themselves, preferring to be of service to their clients. They resist marketing and are uncomfortable asking for money. They unknowingly undervalue their services, and therefore, their services are undervalued.
The social problems of divorce, unemployment, domestic violence, juvenile delinquency, stress, disease, depression, and anxiety, are getting worse, not better. Private practice professionals devote their lives to addressing these problems, and it doesn’t serve them or society to devalue their contributions.
In his latest book, The Million Dollar Private Practice: Using Your Expertise to Build a Business That Makes a Difference (John Wiley & Sons, Inc., 2012) David Steele says:
“Just as inventive, entrepreneurial engineers and scientists create wealth by solving problems and advancing technology, private practice professionals can be just as inventive and entrepreneurial. You can build a successful and lucrative business that addresses the most significant problems, needs, and goals within your area of expertise. Doing good—helping others—and doing well—making a comfortable living—are not mutually exclusive.”
Key concepts covered in this book for building a million-dollar private practice include:
- Defining your transformational mission and message that will change the world with your unique gifts, talents, and passion
- Creating leverage with group programs (the more people you help, the more money you make; a true win-win)
- Using the platinum rule to design and market programs that people want (rather than what you think they need)
- Growing your business organically through creativity, service, and responsiveness to the needs of your clients (rather than a pre-conceived “business plan”)
- Building a unique, substantial, successful business that makes a significant difference in the world
This book inspires and guides helping professionals in private practice to leverage their expertise and experience both professional and financial success by building a successful business that goes far beyond exchanging hours for dollars in their office. The author’s proven strategies and powerful methods to create multiple revenue streams and multiple ways to help others will help transform the way today’s mental health professionals think and work.
