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When is the right time to start a group practice? Have you been struggling with a full schedule and too much to do? Would you like to work in a community of like-minded therapists?
In this podcast episode, LaToya Smith speaks about whether it is time for you to start a group practice!
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In This Podcast
- Are you feeling overwhelmed?
- Do you have loads of intake calls?
- Have you been yearning for a community?
- Is your vision getting bigger?
- Do you want to create multiple streams of income?
Are you feeling overwhelmed?
I was swamped, and I knew it was absolutely time. I was doing way too much stuff for the practice on my own.LaToya Smith
When your solo practice takes off and you start to see more clients, the paperwork and admin increase, and you are struggling to find the time to get to everything because your schedule is totally full – it is time for you to start a group practice.
A lot of times I’ll say to people when they ask me, “When’s the time to hire? When’s the time to think about adding another [clinician]?” and I’ll always say [it’s] when you’re about 75% full – so don’t wait until you’re already full and overloaded before you bring somebody on board!LaToya Smith
If you know that you’re reaching your end point where there is just too much to do and you are struggling to get to do it all, then you need to consider hiring someone else and shifting into a group practice.
Do you have loads of intake calls?
Is your phone ringing off the hook? Are you missing potential clients because you are in session when someone is calling? Are you constantly referring clients out because your schedule is full? It may be time to hire.
What would it look like for you if you had another therapist in-house, within your practice, that you can refer to?LaToya Smith
How much more beneficial would it be to your practice if you could allocate clients to a therapist that is on your team, instead of referring them elsewhere?
Now, [having] a group practice, those referrals can stay in-house. That means that you can begin to help more people, and also, it will help [your] income.LaToya Smith
Have you been yearning for a community?
Therapy can be a lonely profession.
Starting a group practice can create a professional community where you and other like-minded therapists work together, sharing the effort, and supporting one another in between sessions with clients.
[With group practice] you have community. You have a team of people who have come together under the vision and mission of your practice, who understand the values of your practice, and who are all in and connected, and you are building a team. LaToya Smith
If you want to work with people around you, then look for like-minded therapists who share your values and bring them in under the banner of your practice to serve and work together.
Is your vision getting bigger?
Is the dream that you have for your practice getting bigger, and more attention from your ideal clients, and you need some help to serve them all?
Build around your vision!
Hire another therapist that also works with your ideal clients, or hire a therapist that works with clients that relate to your ideal clients.
You know it is time to start a group practice when your vision is shared by many people, clients, and therapists alike.
Do you want to create multiple streams of income?
Adding therapists to your practice is a great way to bring in more money, because right now if you are solo and you’re thinking about doing a group practice, [then] you’re the one who’s doing the building, you’re the one who’s collecting the funds and if you don’t work, then where’s that money coming from?LaToya Smith
By adding therapists, you not only get to provide more access to mental health care to your clients, but you also supplement the income into your practice, which takes a lot of financial burden off your shoulders.
Once income starts being made from other therapists, you can be free to think creatively and attend to other aspects that need doing in the practice.
I can focus more now on growing my practice [and] scaling my practice if I had other people on board who are also seeing clients.LaToya Smith
Useful links mentioned in this episode:
- Don’t waste any more of your time, and try TherapyNotes and use the promo code JOE to receive your first two months for free!
- Check out practiceofthepractice.com/levelup: March 20th to 23rd 2023 is Level Up Week!
Check out these additional resources:
- 5 Private Practice Trends in 2023 with Joe Sanok | GP 160
- Practice of the Practice Network
- Group Practice Launch
- Group Practice Boss: www.practiceofthepractice.com/grouppracticeboss $149 a month
- PoP Group Practice Owners Facebook Group
- Free resources to help you start, grow, and scale
- Work with us
- Practice of the Practice Network
Meet LaToya Smith
LaToya is a consultant with Practice of the Practice and the owner of LCS Counseling and Consulting Agency in Fortworth Texas. She firmly believes that people don’t have to remain stuck in their pain or the place they became wounded. In addition to this, LaToya encourages her clients to be active in their treatment and work towards their desired outcomes.
She has also launched Strong Witness which is a platform designed to connect, transform, and heal communities through the power of storytelling.
Visit LaToya’s website. Connect with her on Facebook, Instagram, Strong Witness Instagram, and Twitter.
Email her at [email protected]