TPS004 | Lessons Therapists In Private Practice Can Learn About Passive Income From A Teacherpreneur with Gabriel Rivera and Kingsley Grant

Speaking in public is often cited as the number one fear of adults.  Jerry Seinfeld said, "That would mean at a funeral, people are five times more likely to want to be in the casket than giving the eulogy." Can you imagine that? Yet, those who have mastered the art of public speaking as a way to take their message to a wider audience, are reaping the fruit in more ways than one. As is the case of our guest - Nicole Sublette - who shares how she has incorporated public speaking into her private practice and is consistently generating additional income. Listen to what she had to say.

Do you work full-time hours? Is finding time to work on your business instead of in it something that you struggle with? Do you wonder how you could make additional income in your Private Practice without adding more clients? In this episode, Dr. Javier Carlin shares how he was able to work full-time in his private practice and make 4-GRAND per month in additional income without adding more clients. Find out how.

What do you do once you are having a full caseload on a consistent basis within your practice? Do you simply refer clients out and/or put up your "not accepting new clients" sign? Or would you rather find a way to scale your practice? These are some options that are available.  In this episode, our guest - Shae Nicole - shares how she was able to open her practice with a full caseload and is exploring other ways to generate additional income without adding more clients. Find out how.

Because you are one skill away, you are able to use your writing skill to generate additional income for your practice. Having someone guide you is one of the easiest ways to begin this process. However, finding the right person can be quite challenging. There are so many voices out there. In this episode, our guest - DeAvila Bennett shares how she was able to use this process to generate more revenue for her practice.

Going into private practice is not the solution for some therapists who want to get away from working for an agency or the equivalent of one. Yes, they are tired or even feeling burnout from the demands placed upon them, and being compassionate as they are, always want to show up and give their clients their best. However, they are finding it more and more difficult to get going. Some days they wish they could just stay in bed or not see any clients. But it's not financially feasible. So, what do they do for a solution? Start their own private practice and then realize it comes with its own set of challenges. This they are not ready for. Some have humbled themselves and raise the white flag and return to what they are used to ... working for someone else. Why? They were not cut out to work for themselves or manage a business. They still have an employee mindset which is not going to cut it when it comes to running a practice as a business. They cannot be blamed because this was not something they were taught in grad school. I know, because I cannot recall one of my classes being geared towards running a business called a private practice. In this episode, you will discover some of the other reasons why some therapists should not be in private practice because of what it takes.

What do desire, investment, and masterminding have to do with passive income? In this episode, our guest - Gabriel Rivera - shares with us the necessity of these 3 disciplines in being able to generate additional income. Even though this episode is directed towards therapists in private practice, the principles outlined are applicable to anyone who wants to learn how to generate passive income. To learn more, join a thriving group who are passionate about topics like this one by going to www.kingsleygrant.com/privatepractice.

+++ MAKE IT PASSIVE +++ For some people when they hear the word passive they think no work. Just sit back and let it happen.  This is not what it means when it comes to making passive income. Passive income requires work.  The good news is that it's work that you do once and then let it go to work on your behalf.  The best way I like to think of it is: "Set it and Forget it!"  In this episode, you will learn how to go about putting systems in place where you can generate additional revenue without adding more clients to your schedule.

Therapists in Private Practice can use the traditional methods to make more money without adding more clients, in one of the following three ways or all of them. Raising your fee Adding more clients and thereby doing more hours Becoming an agency and adding other therapists to the practice Which do you use? I know that there are other additional services that can be added such as training, speaking, writing a book, coaching, and so on. These are great ways in and of themselves. I have done a combination of them. They can be lucrative and serve as great add-ons to the practice. However, in most of these add-ons, you have to be present. You're trading hours for dollars. I find this to be unsustainable.  In this episode, you'll discover a more efficient way that you can employ without adding more client hours to your day.

Therapists in Private Practice are excellent at their craft ... the work they do day in and day out.  However, as one myself, we are not great at the business of Private Practice. Very few therapists that I know, have a strong business background. There are always exceptions to everything, so they are a few who are mastering the business side of the practice. But the majority are not. And that is why in this episode, you will discover the importance of learning how to go from a therapist in private practice to what I refer to as a psychopreneur.  A psychopreneur is simply someone who has learned how to apply an entrepreneurial grid over their practice. This grid will allow them to generate more money without adding more clients.  It's a mindset shift that takes them from a one-to-one setting, to a one-to-many and to automation. Some people refer to this as generating passive income. In this episode, you will hear the host - Kingsley Grant - being interviewed by Bill Griggs on why a psychotherapist should become an psychopreneur.