Ready to get into private practice? Here are some quick tips to get yourself fully prepared for business.

In this episode, I discuss the three basic things you need to know before starting a private practice. You’ll recognize why it’s crucial to understand your entity structure as I share the steps I took to convert my therapy practice to an S Corp. You’ll also learn what “time audit” and “knowing your niche” can do for the growth of your business. 

--- 

Get daily business affirmations by texting ‘ABUNDANCE’ to (310) 388-8603

 

Timestamps:

• What's in the 60-day free bootcamp for you? (01:15)
• Share your 5-year business vision with your CPA (04:08)
• Understand where your time goes before hiring a team member (11:36)
• Identify what problems you solve for your ideal clients (14:46)

  

Standout Quotes:

• "You have to know where you are going…, where you want to land. Even [when] your dream and vision get bigger later, you have to have some type of concept so that you can measure your progress... And understanding entity structure based on your 5-year business plan can give you just that because the entity structure will also help you with your CPA understand money coming in, bookkeeping, liability, assets, and also being able to figure out creative ways to save money... so that you can reward yourself as the business owner later." (10:35)
• "If you know exactly your activities or where your time is going throughout each week and throughout the month and the year in your business, it will tell you where you spend the most of your time... and what tasks you actually don't like doing—or you're not great at doing it—but it needs to be done for your business. Those are the positions that you need to hire first in your business." (14:02)
• "Can you identify how you solve your ideal client's problem and whose problem you solve? Be specific because when you learn how to talk to your ideal clients, they will start coming to you magnetically because you're putting out in the universe that that's who you are in terms of who you serve well." (15:46)

 Resources Mentioned:

• Register to the 60-Day Prosperous Private Practice Bootcamp for free at https://www.doctortk.com/bootcamp/  
• Text ‘TIME’ to (310) 388-8603 to claim your free Time Audit worksheet
• Listen to

JOIN THE INHER COLLECTIVE

WATCH PODCAST ON YOUTUBE

GUSTO

SIMPLE PRACTICE EHR

KIT FOR EMAIL MARKETING

STANSTORE