Full-Time Job Plus a Part-Time Practice? You Need to Hear This!
It's a common scenario: you're juggling a full-time job while trying to establish your private practice in the margins of your day. Perhaps, you see a few clients after work or even squeeze in an appointment or two over the weekend. It's a demanding schedule. But you're driven by the vision of a private practice that not only allows for a more satisfying professional life but also gives you the flexibility to spend quality time with your family.
In the rush to fill your client roster, it's tempting to lower your fees or accept insurance. These slots fill up fast, and it feels like you're making progress. But here's where many practitioners hit a wall. With a schedule chock-full of low-fee clients, there's no room left for those willing to pay the full fee. You find yourself in a stalemate, unable to move forward.
You're Not Earning Enough to Leave Your Job — But You Can Change That.
You aren't earning enough to leave your full-time job, but you can't make your practice grow without leaving your job either. You haven't had success in booking full-fee clients to the point you've considered lowering your fees or taking insurance as a form of client acquisition. It makes you question whether your marketing is working.
You invested in marketing to help build your practice, but you haven't given that marketing the chance to perform. Nor have you invested enough time or money into testing it out. But here's what you and all of these practitioners have in common: you haven't done the math yet. You and other practitioners in your position don't fully understand how your decisions will impact your long-term goal of having financial security and freedom.
When You are Working Full-Time and Building a Practice, You Need to Know Your "Freedom Number".
With a full-time job and trying to build your practice, in the short term you may think taking insurance and some low-fee clients is working for you. But, in reality, it's actually working against you. It delays your end goal of leaving your job because, in the end, it is making up what the low-fee clients are paying you.
This is why it's so important to know your "freedom number". This is the number that will allow you to focus on the long-term goal of leaving your job and building a successful private practice. Knowing your freedom number will help you make data-driven decisions that affect your bottom line and give you the confidence to book full-fee clients.
Once You Know Your "Freedom Number", it's Time to Focus On Marketing and Building Your Client Roster.
Knowing your freedom number allows you to focus on the marketing that you previously thought did not work. You can now hone your marketing message and test it out to see what works for you. This will help you build the confidence that you can attract and book full-fee clients at your desired rate. With this data-driven approach, you'll be able to make decisions based on measuring the ROI (return on investment) of each action that you take rather than relying solely on gut feelings.
Your freedom number will help you understand the number of full-fee clients you need to book in order to transition out of your job and into a successful private practice. With this knowledge, you'll be able to focus on what matters most - growing your practice. You can become the proud owner of an independent practice that allows you to make the money that you deserve and have the flexibility to spend quality time with your family. All it takes is understanding your freedom number and having the confidence to book full-fee clients.
This Doesn't Make You Anti-Insurance, it Makes You Anti-Burnout
You don't have to be anti-insurance credentialing. It is okay for some practitioners to join higher-paying insurance panels to build their practice. However, your focus should still remain on booking full-fee clients so that you can reach your freedom number and transition into a successful private practice. With a clear goal and actionable steps, you can have the success that you deserve while avoiding burnout.
When you are continuing to work your full-time job and trying to build your practice solely on insurance and low-fee clients, it's easy to feel overwhelmed. This will lead to burnout as you are focusing on the wrong task. However, when you know your freedom number and have an action plan focused on building your full-fee client roster, you will be able to make decisions that are based on long-term goals rather than short-term solutions.
You will be able to make your practice work for you and have the joy of coming home from work knowing that you are one step closer to your end goal.
Your practice will be able to grow without you needing to worry about burnout or taking on a roster of clients that you don't want to work with. The dream of a successful independent practice is within reach. Reaching your freedom number is possible. You just have to take the right steps and be willing to focus on booking full-fee clients. So you can focus on what matters most - building your practice, financial freedom, and spending time with your family.
Your practice may not be perfect, but it is certainly worth the effort you put into it. You don't have to compromise your rates or take on more clients than you can handle to have the practice of your dreams. You just need to focus on reaching your freedom number and giving yourself enough time and space to reach it.
Ready To Reach Your Freedom Number? You Can By Working With a Business Coach for Therapists in Sacramento, CA, and Nationwide!
Reaching your freedom number is possible, and I'm here to help. With my One-on-One business coaching services for therapists, you will be able to focus on marketing yourself and building your roster of full-fee clients. You'll gain clarity on the numbers that inform each decision you make so that you can easily track progress toward your goal of financial freedom. At Balanced Private Practice, my mission is to help you reach your goal of leaving your full-time job and building a successful practice. One that works for you, not against you. If you're interested in beginning:
Apply to Work with Me
Learn More About Me and My Programs
Let's Figure Out What You Need to Reach Your Freedom Number!
Other Business Programs Offered at Balanced Private Practice
Taking a look at the other awesome business programs we offer you at Balanced Private Practice can help you reach your freedom number. We've got a wide array of programs that'll assist you in crafting the business and life you've been dreaming of. I offer a range of programs specially designed for therapists, including marketing coaching and training, as well as business planning and consulting. This means you can start building your private practice on your own terms or restructure it to match your unique reality. The programs I provide are: One on One Business Coaching, Private Practice Mentorship, Private Practice Quick Start, and Fee Setting Success. If you want to reach your freedom number and become the business owner of a successful private practice, I can help. Let's do the damn thing!
About the Author
Meet Audrey Schoen, LMFT, a dedicated business consultant and financial boundaries expert with firsthand experience as a successful practice owner and parent of twins. She specializes in guiding therapists who are juggling a Full-Time Job while building a Part-Time Practice but aspire to reach their "freedom number" to solely focus on their practice. Audrey offers actionable steps and empowering insights to help therapists make informed decisions on setting fees and serving clients effectively. With her support, therapists can build thriving practices that prioritize both financial success and client well-being, making the journey to financial freedom an exciting reality with Audrey by their side.
