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Are you transitioning from a working therapist to an acting CEO in your group practice? How can you start to spend more time thinking about the business than working in the business? How can you hire the right clinicians for your group practice?
In this podcast episode, Joe Sanok speaks with Nicole Wallace about starting a practice and having 4 clinicians in 18 months.
Podcast Sponsor: Level Up
March 20th – 23rd is Level Up Week, and we are offering over 20 webinars focused on helping you Level Up totally for FREE.
We have guests like Valerie Harris, talking about how to grow your practice with insurance. We have speakers from the Speaker Lab. We’re going to talk with you about the new public speaking gigs, as well as Experts on how to get a TEDx talk as well as every single phase of practice.
We’re talking about five simple marketing techniques you’d have to master and how to add virtual assistants to your practice. We have Profit First professionals coming in to teach you how to grow your money.
Whether you’re starting a practice, growing a group practice, or expanding to do multiple streams of income, Level Up week is for you. Mark your calendars, March 20th-23rd
See all of the webinars that you can register for over at practiceofthepractice.com/levelup
Meet Nicole Wallace
U.S. Army veteran Nicole Wallace is the owner of Transformation Counseling & Consulting, PLLC and a therapist. She specializes in working with women to manage or eliminate anxiety and depressive symptoms.
In 2021, Nicole founded Transformation Counseling & Consulting, PLLC in pursuit of her dream to establish a private practice which addressed the needs of people experiencing anxiety, depression, and past trauma.
Visit Nicole’s website and connect on Facebook and LinkedIn.
In This Podcast
- Transitioning from solo to group
- A big challenge for new group practices
- Thinking like a CEO
- Nicole’s advice to private practitioners
Transitioning from solo to group
In 2020, Nicole was working three different counseling jobs.
Even though all these jobs required her time, effort, and energy, Nicole was able to figure out which type of work she enjoyed doing the most. It gave her direction for where she wanted to go as a group practice owner.
I came to find out that working with women was really my passion, even though I had a long history as a school counsellor and as a teacher. I really enjoyed this season in my life working with women, especially moms who were making their transition back to work … so I decided to take the jump!
Nicole Wallace
Once Nicole got going on her new group practice, she found that, because she followed her passion for working with women, many women came to her group practice – both clients and clinicians.
Through working with Practice of the Practice, Nicole was able to receive the knowledge and tools that she needed to nurture her new group practice into a successful and self-sustaining business.
I watched the videos, I attended the sessions, the coaching sessions, and I took to heart what was being said … not like, “You have to do this way”, but rather, “This is some information, take it and make it your own.”
Nicole Wallace
A big challenge for new group practices
The biggest challenge that Nicole faced was navigating her first hire.
She was able to find someone great, and they are still working together almost a year later, but it took some brainstorming and open conversations to figure out what was expected of each person, and how it would be delivered.
So, as we’ve gone through the process, she and I have had to define who [they] want to work with … and that has helped me define my mission statement as well, [and] becoming clear on whom we are trying to service, what does that client look like, and where we can find that client.
Nicole Wallace
Thinking like a CEO
Initially, Nicole would take one day a week to focus on the business and four days to see clients. On that main business day, she would assess the billing, resolve administrative tasks, and look at marketing efforts.
As the practice has grown, I’ve needed to be more interactive with the clinicians [which] meant I also took on the job of being the case manager.
Nicole Wallace
Now, Nicole is looking at where she can cut back on seeing clients herself and focus more on running the practice.
When she hires people for the practice, she uses the practice’s vision and mission statement as well as her shared values to make sure her new hires match with the foundational pillars of her group practice.
Nicole’s advice to private practitioners
Let go of your fears as much as you can. Try new things out! Remember that you can always pivot. Face your fears and take the first step because that is more important than never taking the step at all.
Sponsors mentioned in this episode:
- See all of the webinars that you can register for over at practiceofthepractice.com/levelup – March 15th and March 16th, 2023 2pm EST membership Q&A and Open-Houses
Useful links mentioned in this episode:
- Find out more about Group Practice Launch
- Visit Nicole’s website and connect on Facebook and LinkedIn.
- Visit practiceofthepractice.com/apply and join our membership communities!
- Check out practiceofthepractice.com/invite to join Next Level Practice
Check out these additional resources:
- Group Practice Trends with Joe Sanok and LaToya Smith | POP 854
- Apply to work together
- Events – click on the event’s dropdown
- Sign up to join the free webinars and events here
- Podcast Launch School
- Practice of the Practice Podcast Network
- Free resources to help you start, grow, and scale
- Apply to work with us — a decision-making matrix for your next steps
Meet Joe Sanok
Joe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners that are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.
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