Building a Thriving Practice - Genesis...

Trina Young Greer, Psy.D., LCP, LMFT, LPC

Steve Greer, BS

Building a Thriving Practice in the 21st Century

www.genesisassist.com 1

Please Complete the

Practice Management

Survey

Foster a new mind-set for building a successful business and ministry

Learn business basics and best practices which are critical for growth

Practice benchmarking – the power of community

Objectives

“Everyone should eat and

drink and take pleasure in

all his toil—this is God's gift

to man”

Ecclesiastes 3:13 ESV

Setting the Stage

Trina & Steve

Genesis Counseling Center

Genesis Assist – Therapy Practice Partner

Quick Introduction

What Attracts You and

What Concerns You

about Private Practice?

Being your own boss

Flexibility

Earning potential

Control

Poll Results

Economic uncertainty – including Managed Care

Responsibility for all costs

Isolation

Management work

Walfish and O’Donnell, 2008; Barnett and Henshaw, 2003

Is Private Practice Right for

Can you handle uncertainty?

Are you energetic?

Can you handle change and failures well?

Are you passionate about your vision and goals?

Do you look at life from a standpoint of what can be improved?

Are you willing to take risks or leaps of faith?

Are you committed to developing an Entrepreneurial mind-set?

Checklist

Entrepreneurial Mind-set

Why is this Important?

Changing World of Employment

“…what is risky and what is

safe has changed

permanently. … The new

reality is that working at a job

may be a far riskier choice.”

Chris Guillebeau, The $100 Startup

The Genesis Counseling Story

“Accidental Entrepreneur”

“If you don’t start thinking

like a business owner, your

Vision will die.”

Randy Case – C12 Business Consultant

Therapists don't go to school to be business people

Most graduate programs don't provide training in business

Therapists can have an elitist attitude toward people helping versus making money (Walfish and Barnett)

Overcoming the Mind-set Bias

How Can You Create

Value for Your Clients?

Focusing First and Foremost on the Client

Genesis: “Win With Every Client Every Time”

Winning at the First and Second Moments of Truth

Giving People What They Really Want or Taking Away What They Don't Want

Adding value that people will pay for (business focus)

Value Creation

The Three Essential Roles

Adapted from E-Myth Revisited, Michael Gerber

Dreamer

Creator

Inventor

Developer and Gatekeeper of Vision

Sees the Outcome – the ideal

Entrepreneur

Turns Vision into Systems

Enabler

Organizer

Bridge between Entrepreneur and Therapist

Manager

Producer

Provider of Therapy

Why We Went to Grad School

What We Love to Do

Therapist

Most Therapists who start their own private practice are not Entrepreneurs – they are Therapists suffering from an Entrepreneurial seizure

The Rules of the Game have changed

We have to change our mind-set to succeed

The E-Myth

Cincinnati & Puerto Rico

Working On the Business versus In it

Business Basics

The Challenge: 30% Less People received Psychological interventions (2008 compared to 1997) – shift toward medicine alone

(Dr. Katherine C. Nordal, “Where has all the psychotherapy gone?” APA, Nov 2010)

The Bell Curve Meltdown (Seth Godin)

Serve the edges – create a niche

Redefine our “Who”

Find, Attract, Keep Clients

Examine Your Passions, Gifts, Experience and Calling

Question How You can Add Value

Look for Opportunities to Innovate

Leverage Insights from Research

Examples birth trauma and other pregnancy issues

military wives

video-addicted teenage boys

kids with Asperger’s syndrome

Finding Your Niche

Most graduate schools don’t teach how to attract clients

The idea can feel very uncomfortable

There is no “one size fits all” plan

Know your message

Identify who needs to hear it

Pick what works best for you

Redefine Marketing

Adapted from Be a Wealth Therapist, Casey Truffo

Most therapists feel more

comfortable taking a full

sexual history from a new

client than they do talking

about their fees

Be a Wealth Therapist, Casey Truffo

Develop & Work Your Personal Marketing Plan

Community

On-line

Identify the marketing steps that fit your personality

Take steps to build relationships

Regularly communicate

Speak for community groups, churches, etc.

Your Marketing Plan

Be an excellent Therapist

Be flexible to the needs of your clients

Find new ways to serve your “Who”

Consider joining a busy group practice

Proven Steps

Practice Website

Have One

Keep it Simple

“Who” Focused

Provide Value

Search Engine Optimization (SEO)

Organic Search Ranking

Pay-Per-Click Advertising

21st Century Marketing

Leverage Therapy Directories

Blog – Your Own and Guest

21st Century Marketing

Reach & legitimacy

Be Selective & Focused

Social Media

Source: Pew Research Center, Docstoc.com

Rules to Follow

Draw Boundaries

Define you Goals

Finish Your Profiles

Be Relevant

Be Careful

Give More than You Take

Don’t Get Ruffled

Social Media

TOM’s Tips to Fill Your Practice, Create a Following or Promote Your Book Through Social Media, Blogging and S.E.O.

Customer Service Reality

shankmanhonig.com

Cash & Check

Credit Cards (Fees)

Traditional Merchant Services

Mobile Payment Providers

PayPal

Church Scholarships

Insurance

Establish a Way to Get Paid

Benefits: Able to Serve More Clients & Increased Referrals

Challenges

lower reimbursement rates

more administrative demands

stress

short-term treatment models only

insurance company may affect quality of care

Managed Care?

What Will the Impact be

of the Affordable Care

Building Blocks For Success

Spend Time on the Foundation

Clarify Your Values

Confirm Your Calling

Define Your Dream, Vision, Purpose & Mission

Genesis Assist Example Dream – High Quality Christian Therapy is Available to Every Person

Vision – World-class Therapy Private Practice Coaching & Service Provider

Purpose – Christian Therapy Private Practices Flourish and Serve more Clients

Mission – Create the Therapy Practice Mgmt System, Tools & Community

First Things, First

Overview

Outcomes

Cash Flow

Marketing

Obstacles & Challenges

One Page Business Plan

Outcomes Example Successful Start-up (Confidence)

Find, attract and keep More Clients

Improved Profits

More Freedom to do what you love

Less Burn-out: focus on what you love

The Bus (Jim Collins)

The Right People On the Bus

The Wrong People Off the Bus

Everyone in the Right Seat

Establish a Hiring System

Based on core values

Clear role description & what counts factors

Solopreneur or Employer?

The Criticality of Alignment

State of the Business Owner, 2013

Role Descriptions – link to mission & expectations

Work Plans

Policies and Procedures

A battle worth fighting for

Standardize – same great service regardless of who

People Systems

Invest in Onboarding

Share the Dream, Vision, Purpose and Mission

Marmalade Restaurant

People Systems

Establish Yearly Direction in Line with Vision

Choose What to Focus On … and What Not to Focus On

Enroll Your Team in Developing

Plan, Do, Check, Act

Share Results

Learner Path

Goals & Strategies

Why Measure?

The Critical Choice of What to Measure

Regular Review & Plan Adjustment

Business Metrics

2011 2012 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 2013 IYA

Sessions 1351 1492 1734 1595 1476 1898 1927 1791 1875 1757 1.18

New Clients 148 187 242 202 191 250 225 229 194 219 1.17

% No Shows 8.3% 8.5% 9.9% 8.1% 9.7% 9.4% 8.9% 9.5% 9.4% 9.0% 1.06

GENESIS DASHBOARD

Focus on Net Income

Monthly Review of Profit & Loss Reports

Loss Analysis – where to focus

Loss Elimination – work process improvement

Manage Overhead Costs

Challenge: Total People Cost as a % of Sales

Standard for Business: < 50%

Financial Management

Find Strong Partners for Support

Lawyer

Accountant

Bookkeeper

HR/Benefits Consultant

IT – Website Design/Support, Email, Computer Help, SEO, etc

Insurance Credentialing

Medical Billing

Business Coach/Consultant

Team Sport

Life Coaching

Neurofeedback

Nutrition Coaching

On-line Therapy

Speaking

Passive Income (workbooks, instructional DVDs, eBooks, etc.)

Alternate Streams of Income

The Power of Community

Group Discussion on One Key Challenge from the Survey

Share Your Steps to Address the Challenge

Learn from the Community

Benchmarking Exercise

Next Steps

Create a Personal Action Plan

2 or 3 steps you will take in the next week

Fill out the Evaluation – we value your feedback!

Download the Presentation – www.GenesisAssist.com/WC2013

Follow-up

AACC CounselTalk Webinar – September 24 at 6 pm

Join us for Practice Management Live – monthly conference calls on topics to help you succeed

Next Steps

Building a Thriving Practice - Genesis...

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