There’s a business adage that says anything you create or do as an owner will take three times as long as you hoped and cost three times as much as you budgeted. While that’s not the case every time, the moral is that starting a brand new business is most likely going to suck up a lot more time and resources than you initially plan. Creating your own private practice is no different. But the return of investment (even when you have to up the ante along the way) is so far beyond worth it.
Launching a private practice is especially draining because, as clinicians, your years of training and experience are focused on treating patients, not developing entrepreneurship acumen. Your lack of business knowledge should not deter you from going for it though. We’re here to tell you that you don’t have to do it alone. The mental health ecosystem flourishes when we work together, utilizing varying strengths and weaknesses to help more and more people feel better.
Simply Psych was designed with mental health clinicians in mind (our co-founder is a licensed psychiatrist after all!). You did not go through years and years of training to spend all your time pushing papers. Furthermore, your expertise grants you autonomy to make decisions that are best for both you and your patients/clients, without medical conglomerates and insurance companies controlling how you provide care.
We know that your biggest desire is to help people feel better, so delusions of grandeur to build your own practice may seem unnecessary or egotistical. Starting a private practice is not a selfish thing to do. Direct healthcare improves access to care and decreases physician burnout. So it’s not only worth it for you, but also for mental health care seekers and other mental health clinicians. Therapist, take the leap and start your private practice! We are here to support you and your ambitions.
Let’s run that through some common areas every practice owner dreams of excelling at:
- Hiring therapists under/with you. The first one may be easy (because you’re likely already friends with them), but negotiating salary/revenue splits, job expectations, and people-managing is super time consuming. And energy consuming. This is a prime example of why your initial timeframe and budget will be surpassed.
- Being a marketing superstar. Marketing at its very best has a delayed return on investment (likely six months). And that’s only if you are hitting on all cylinders, creating and distributing content all day every day… which you aren’t because you have a practice to run and patients/clients to see. See how the time just disappears?
- Adding in your passion-work. Everyone in mental health entrepreneurship has non-clinical passion-work that means a lot to them. It can be gardening, mentoring, baking, social justice, volunteering… the list is without end. Your interests and unique flavor make you who you are, and it definitely improves the quality of care you provide.
These are just three areas every mental health clinician wants to 100% nail when they start a practice. But it takes time (and more time) to manifest these dividends. For solo-preneurs, it may take five years before you can financially and operationally take two weeks off from your practice. That is much too long and reeks of burnout. Eww… no thanks.
Simply Psych shortens that time frame because we have mastered modularizing practice management. Whether it’s handling appointments, fielding phone calls, or flywheel marketing, we know how to keep the balls in the air when you’re not there. Get in touch with us at www.SimplyPsych.com to learn more!