You’re constantly fantasizing about how great it’s going to feel when you start your own private practice and have the chance to make your own schedule, earn a livable wage, and have a manageable caseload.
Well, before you put in your 2 weeks-notice, here’s the #1 thing I recommend that all aspiring private practice creators do before quitting their 9 to 5 for full time private practice.
Create a Business Plan
I cannot tell you how vital it is for you and your new business to create a business plan. First of all, let’s remember that a private practice is, first and foremost, a business.
And before you open your business, it’s important to know the answers to the following questions
What you’re offering?
Who are you serving?
How are you serving your target population?
How much will you charge?
When will your services be available to the public?
How will people find you?
All of these questions and more can be answered in a business plan.
Why is a business plan so important?
Imagine that you were interested in going on a guided tour of a beautiful National Forest. You come across a beautiful Welcome sign and nothing else, would you enter into the Forest with excitement and confidence, or would you feel uncertain about your venture into the woods?
How will you know where to go? Where to take pictures? What pitfalls to look out for?
You wouldn’t.
But if you had a MAP and a information guide, you would be able to not only answer those questions, but you’d also feel comfortable bringing others along with you.
The same applies for a business plan.
It serves as a roadmap for where to go on your journey as a business owner.
Where can I find a business plan template?
When the idea of opening my own private practice was in it’s seedling stage, I found a lovely organization called SCORE. This organization offers tons of free templates and yes that includes a business plan template AND free mentorship. Click here to learn more about SCORE and the vast amount of support they offer to new and aspiring entrepreneurs.
So, don’t stop fantasizing about the lifestyle you desire – that lush therapy office, ideal schedule, and burnout-free living – you can have it all, just make sure before you take the leap away from your 9 to 5 and into your new private practice that, you put your ducks in row and create a business plan.
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