www.PracticeofthePractice.com/november-2013-cash
November | What I’ve been up to and what I’ve learned
I’m so close to breaking the $50k mark for my part time businesses this year! I actually am very surprised that this month’s income is as high as it is (it’s at the bottom of this article). I wanted to look at portions of my income and where money is coming in.I broke my income into three categories:
Traditional Private Practice Work (trading time for money) 51.53%
So, I looked at how much is through traditional private practice work (counseling, consulting, and LLPC supervision). These things take real time that directly correlates with money, time away from my family, stress, and follow-up. There are benefits to this in that if I want to make more money, I just see more clients.
The main referrals come through my websites www.MentalWellnessCounseling.com and www.LLPCsupervision.com
The downside is that to have a month like October 2013, I have to work more hours. That’s time away from the family and other things I enjoy. Since this is a part-time business on top of a full-time job I have to think about more hours for more pay as a business model.
Marketing and Business Work (trading time for money) 27.2%
I really love doing the marketing and business work. This takes many forms. I work with counselors in private practice by developing websites that counselors want. This month, that was the primary way that I built income. However in past months, projects have included reviewing business manuals, 1099 consultation, and a variety of other things. This, just like the first way of bringing in money takes time in exchange for money.
It is so much fun to engage in the creative process of building websites. Also, I love handing over the keys at the end and letting the counselor do whatever they want with it. It’s really rewarding to do the initial set-up for the website for counselors and then they learn how to manage it by themselves. It’s great knowing that the on-going costs of a website are eliminated.
The Practice of the Practice website is the main lead generator for this, so the work I put into the site, podcast, and engaging with folks in LinkedIn groups, directly correlates to the business income I generate in this area. Seeing this area grow, reinforces that I am doing some things correctly with the Practice of the Practice community!
Affiliate and Passive Income (Things that sort of run themselves and take very little time) 21.27%
As I have discussed very opening, this is the area that I continue grow, learn, and develop. Things that fall in this category are having other counselors join my practice, affiliate links for things like BlueHost, my Member’s Newsletter, and other products. In and of themselves, they don’t take specific time in exchange for money. In fact, once most of the structure is set up, it takes fairly limited efforts. This is especially true of the e-books!
The main referral for this income is through the Practice of the Practice website. I continue to automate things to save time too, such as implementing IFTTT to automatically post things when they go live. Here’s an article about it: Five Apps that will change how you do business
What this taught me
When I do these reports I get disappointed when I have a month that is less than a month prior. I recently realized that is a recipe for having an unhealthy attitude. I really should look how I’m doing annually. Yes, I should push myself, but if I micromanage each month, it will drive me crazy.
This year, I’m up over 400% from last year! Clearly, I’m doing fine. This month was pretty amazing, I had a week off hanging with my sister in Cleveland over Thanksgiving. Also, I had my appointment with The University of Michigan and I’m officially one year cancer free! Thanks for all your support, prayers, and good vibes!
Also…
If you haven’t noticed, look to your right on the screen. You’ll see a tab that says “Leave a Voicemail Question for the Podcast.” If you click on it, you can record a question that is emailed to me in an MP3 format. I’m going to start answering your questions on the podcast, so start asking!
Past Income Reports
YTD: $49,739.39 (January-November 2013)
October 2013 Monthly Income Report total: $4,689.99
September 2013 Monthly Income Report total: $3,137.30
August 2013 Monthly Income Report total: $3835.74
July 2013 Monthly Income Report total: $5691.65
June 2013 Monthly Income Report total: $4,471.29
May 2013 Monthly Income Report total: $6,022.91
April 2013 Monthly Income Report total: $2,116.96
March 2013 Monthly Income Report total: $2,476.92
February 2013 Monthly Income Report total: $2,685.12
January 2013 Monthly Income Report total: $2,707.09
December 2012 Monthly Income Report total: $2,287.97
November 2012 Monthly Income Report total: $1,219.18
October 2012 Monthly Income Report total: $3,213.87
September 2012 Monthly Income Report total: $1,361.60
November 2013 Earning Report
What I’m going to be reporting and what I’m not going to be reporting
Full-time Job: Since some of you are new and some of you have been around Practice of the Practice for a while, I’m going to give a quick summary of where I make income. My full-time job is at a community college as a counselor. I love the job and it gives me great opportunities. Also, since my wife stays home with our daughter it is an income we can count on, health insurance, a pension, and a really great environment! I’m not going to disclose my full-time wages there, since it is not something that is part of my private practice.
Private Practice: I do 3-4 sessions a week in my private practice. I don’t take insurance, so it is private-pay. As a result, I don’t have many expenses in time or actual money. Included in my consulting (not my private practice money) is time I spend doing supervision for LLPCs (Limited Licensed Professional Counselors), a 100 hour requirement in Michigan.
Passive Income: The term “passive” makes it sound like I don’t have to do work. What I mean is money that I make that is not in direct exchange for my time. I will outline what these are under each item.
How I made money in November 2013
Disclosure: many of the links below are affiliate links that will earn me a commission if you purchase through them. If you do, I really appreciate it and if you have any questions about any of the products or services please contact me! Also, if you don’t have a good experience with them, I want to know that too.
Counseling, consulting, and useful products
Private Practice (15 sessions, 9 less than Oct due to Thanksgiving and University of Michigan appointments) $1,883
Other counselors: I have two counselors that work for my practice as 1099 contractors and I get a portion of what is brought in. Since my counselor who has been with me the longest now has a full-time job, his amount has gone down, while the newest counselor is still building her practice. I hope this goes up in the coming months: $669.50
Building Websites: $1,400
Paperwork Packet: $0
Consulting and LLPC Supervision: $770
E-books: $91.68
Practice of the Practice | A Start-up Guide to Launching a Counseling Private Practice
The Ten-minute Toddler Turnaround | Improving Sleep: Changing your toddler’s sleep health in ten-minutes.
Mental Wellness Parenting | A remarkably simple approach to making parenting easier
Paperback Copy of my book Mental Wellness Parenting: A remarkably simple approach to making parenting easier
Member’s Newsletter: This newsletter helps folks with struggling or new private practices to learn how to go from no practice to a thriving one in one year. 200% money-back guarantee! $113.20
Affiliate Marketing:
BlueHost Referrals: If you are setting up a website, this is the best hosting because of their customer service and the ability to have unlimited websites hosted! $195
Amazon Affiliate Referrals: If you are buying something on Amazon, it’d be great if you clicked the link. I get a small commission without you having to pay anything more! $3.34
NameCheap Referrals: $9.14
Google Ads: I’m getting closer to July 2013 peak, before I updated my site and screwed everything up, here’s what that income report looked like in July 2013. $13.30
LegalZoom: $0
November 2013 total: $5,148.16
Will you like this on Facebook, Google+ or Pin it?
Some of the numbers from Google Ads, Amazon, NameCheap, and my e-books will not be paid until they reach a certain amount or 60-90 days after the sale. I report what has been sold in the month it was sold. Also, I do not take expenses off of this report.
Joseph R. Sanok, MA, LLP, LPC, NCC is amazed how much fun it is to help other people in business and counseling! He helps angry kids, frustrated parents, and distant couples at his private practice in Traverse City, MI at Mental Wellness Counseling. Also, he is the author of Mental Wellness Parenting | A remarkably simple approach to making parenting easier. To link to Joe’s Google+ .
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Thanks for the photo emilio labrador!
