Who to blame when you’re short of money in your Private Practice

by | Mindset Reset

I hear so many practice owners complain about…

  • Not having enough money ‘yet’ to hire a receptionist,
  • Not having enough money to out-source the answering of their phones,
  • Not having enough money to out-source their book-keeping,
  • Not having enough money to pay themselves a decent wage, which is at the very least equivalent to what their clinicians earn,
  • Not having enough money to maintain the equipment within their practice,
  • Not having enough money to be ok when team members take leave, but instead are having sleepless nights for the duration of the clinicians’ time away as they now can’t pay bills,
  • Not having enough money to actually take your family on a decent holiday,

And as a result, I see a raising resentment start to develop towards the practice and especially the team whom seem so much better off. I know, because I’ve been there. It is VERY hard.

Let me say that again….

It is VERY HARD, when you go into the practice on a Sunday (instead of spending time with your young family) to process employee payslips and contractor invoices.

It is even more annoying when for the two hundred and thirty third time, the contractors have once again not bothered to properly complete their invoice properly leaving you to spend hours correctly invoices so you can actually pay them, because you are scared s*&%less that they will
go off at YOU for not paying them when THEY have not bothered to put in an effort to give you an invoice in proper form. Oh, the desperation of being a private practice owner…

If we had the smell sense of an animal, we would probably stink of fear and desperation. Not a good look (or smell) if you ask me.

But back to my Sunday story…

You finally finish up the paperwork side of the pay cycle when you hop into the bank account to pay everyone and find at the end that there is nothing left for you.

Nothing left for the person that invested thousands of dollars into setting up the practice.
Nothing left for the person who carriers all the risk should the economy go down the drain.
Nothing left for the person who has literally put the future of their family on the line to do this thing called private practice.

And the worse of all, your team thinks you are rolling in it, because you would NEVER tell them how you are struggling. You are way too proud for that s$#t. And anyway, whose responsibility is this…..?

Great question..!

It is YOUR responsibility…!

You CHOOSE to do this.

And if you’re currently in a situation similar to the one described about, and this might be an on-going cycle, then you are choosing to remain in this situation.

The GOOD NEWS however is that…

YOU. CAN. CHANGE. IT.

And it is much easier than you think.

Yes, that’s right!

Stop making the change so hard in your head (that is the fear monster talking).

Here are the FIRST 3 Steps that you need to take to change this:

  1. DECIDE that you deserve more. No justification needed for WHY.
  2. STOP acting from fear and desperation. Again, it’s not a good look and it will KEEP you STUCK.
  3. Start running your practice like it is a f*&%#@g business, because guess what…? IT. IS.

And if you truly have no idea how to do the above, then get support to help you get there.

You don’t expect your client with depression to treat themselves do you? Put your pride in your pocket and reach out to a fellow practice owner, a mentor, a coach – someone you trust and someone whom have shown that they have mastered Step 1 to 3 above to help YOU get there.

And of course, I’m happy to help.

If you don’t know me from a bar of soap, be sure to check out my book, ‘The 7-Figure Practice: The 7 Step Blueprint for Growing your Start-Up Practice to a 7-Figure Ultimate Private Practice.’

You can order an Electronic Copy here: http://bit.ly/7FigureEBook or if you a like to hold an actual book in your hands, you can get a hard copy here: http://bit.ly/GerdaBook

Remember, the current state of your practice is YOUR responsibility.

Remember, the future state of your practice is YOUR responsibility.

Only YOU can change the trajectory – you just need to DECIDE.

Yours in Private Practice Success,

Gerda Muller Logo

Yours in Private Practice Success,

Gerda 

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ABOUT THE AUTHOR

Gerda Muller is a Clinical Psychologist, Published Author, the founder of Private Practice Success Australia, The Psych Professionals and Source Heath and co-founder of Halo Practice Management.

It is Gerda’s belief that each and every person has the right to access quality psychological services and she has made it her life’s mission to make that happen.

First, through The Psych Professionals; second, via Source Health; and third, by empowering as many practice owners as she can with her hard-earned knowledge and experience to ensure it happens now, rather than decades from now, via Private Practice Succuess Australia.

Gerda knows that the more practice owners she can help to build their ULTIMATE PRIVATE PRACTICE, the more she is achieving her life’s mission – now, ain’t that cool!

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