The Money Part of Private Practice (Heard Business School)

Therapists are uniquely equipped for business because they value authenticity and relationships, which are foundational to both effective therapy and successful businesses. 

Dr. Melvin Varghese has a tremendous passion for not only his psychology practice but also helping other therapists build their own business through different streams of incomes, specifically podcasting. Dr. Varghese is an experienced clinical psychologist, accomplished podcaster, and founder of “Selling the Couch.”

In this first episode of Heard Business School, host Michael Fulwiler speaks with Dr. Varghese about his journey into psychology and moving from clinical work to creating an online business that's helped countless therapists find their footing in the business world.

In the conversation, they discuss:

• The power of authenticity in building your therapy business
• How to scale your business with intention
• Resources to things to know about starting your own podcast as an additional form of income
• Strategies for avoiding burnout 
• Why long-term thinking, and compounding assets are invaluable for your business

Connect with the guest:

• Mel’s LinkedIn - https://www.linkedin.com/in/melvinvarghesephd/ 
• Selling the Couch - https://sellingthecouch.com/ 
• Mel’s website - https://melvinvarghese.com/ 

Connect with Michael and Heard:

• Michael’s LinkedIn - https://www.linkedin.com/in/michaelfulwiler/
• Heard website - https://joinheard.com/ 
• Newsletter - https://www.joinheard.com/newsletter 
• Book a free consult - https://www.joinheard.com/welcome-form 

Jump into the Conversation:

[00:00] Introducing Heard Business School

[00:38] Introduction to Dr. Melvin Varghese 

[03:02] Mel’s entrepreneurial journey as a therapist

[08:48] Why therapists often feel intimidated by business and marketing, and why Mel’s end goal was never full time private practice

[11:36] Mel’s start in a group practice and the beginning of his interest in podcasting and using clinical skills beyond therapy or testing.

[15:36] Building Mel’s business as an overnight success (that took 5 years)

[19:12] Some of the challenges Mel faced when trying to build his business including money issues and imposter syndrome

[21:04] The importance of focus and compounding effort in building your business

[22:09] Approach to social media and importance of trust

[25:22] The idea of business being about relationships and therapists are innately adept at authenticity and one-to-one relationships

[27:26] The evolution of Healthcasters

[33:43] Effective marketing strategy that worked for Mel’s business

[37:10] How Mel is thinking about intentionally building his private practice now

[42:09] Mel’s approach to ethical endorsements

[43:42] The Footnote: Mel’s key takeaway from his journey building his business

This episode is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult their own attorney, business advisor, or tax advisor with respect to matters referenced in this episode.

A show for therapists building their own businesses.

Every therapy session holds a story, and every client brings a journey. 

But behind the scenes is a tale of entrepreneurship, where therapists navigate the winding road of building their own business.

This is Heard Business School, hosted by Michael Fulwiler, where we sit down with private practice owners and industry experts to learn about the business of therapy, together. 

We’ll see you in class. 

Michael’s LinkedIn - https://www.linkedin.com/in/michaelfulwiler/

Heard website - https://joinheard.com/ 

Newsletter - https://www.joinheard.com/newsletter