Building a Thriving Practice - Genesis...
Transcript of Building a Thriving Practice - Genesis...
Trina Young Greer, Psy.D., LCP, LMFT, LPC
Steve Greer, BS
Building a Thriving Practice in the 21st Century
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Please Complete the
Practice Management
Survey
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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
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“Everyone should eat and
drink and take pleasure in
all his toil—this is God's gift
to man”
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Ecclesiastes 3:13 ESV
Setting the Stage
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Trina & Steve
Genesis Counseling Center
Genesis Assist – Therapy Practice Partner
Quick Introduction
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What Attracts You and
What Concerns You
about Private Practice?
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PROS
Being your own boss
Flexibility
Earning potential
Control
Poll Results
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CONS
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
YOU?
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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
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Entrepreneurial Mind-set
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Why is this Important?
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Changing World of Employment
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“…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.”
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Chris Guillebeau, The $100 Startup
The Genesis Counseling Story
“Accidental Entrepreneur”
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“If you don’t start thinking
like a business owner, your
Vision will die.”
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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
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How Can You Create
Value for Your Clients?
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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
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The Three Essential Roles
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Adapted from E-Myth Revisited, Michael Gerber
Dreamer
Creator
Inventor
Developer and Gatekeeper of Vision
Sees the Outcome – the ideal
Entrepreneur
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Adapted from E-Myth Revisited, Michael Gerber
Turns Vision into Systems
Enabler
Organizer
Bridge between Entrepreneur and Therapist
Manager
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Adapted from E-Myth Revisited, Michael Gerber
Producer
Doer
Provider of Therapy
Why We Went to Grad School
What We Love to Do
Therapist
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Adapted from E-Myth Revisited, Michael Gerber
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
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Adapted from E-Myth Revisited, Michael Gerber
Cincinnati & Puerto Rico
Working On the Business versus In it
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Business Basics
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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
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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
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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
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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
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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.
Etc.
Your Marketing Plan
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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
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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
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Leverage Therapy Directories
Blog – Your Own and Guest
21st Century Marketing
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Reach & legitimacy
Be Selective & Focused
Social Media
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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
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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
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shankmanhonig.com
Cash & Check
Credit Cards (Fees)
Traditional Merchant Services
Mobile Payment Providers
PayPal
Church Scholarships
Insurance
Establish a Way to Get Paid
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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?
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What Will the Impact be
of the Affordable Care
Act?
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Building Blocks For Success
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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
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Overview
Who
Outcomes
Cash Flow
Marketing
Goals
Obstacles & Challenges
One Page Business Plan
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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?
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The Criticality of Alignment
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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
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Invest in Onboarding
Share the Dream, Vision, Purpose and Mission
Marmalade Restaurant
People Systems
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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
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Why Measure?
The Critical Choice of What to Measure
Regular Review & Plan Adjustment
Business Metrics
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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
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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
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Life Coaching
Neurofeedback
Nutrition Coaching
On-line Therapy
Speaking
Passive Income (workbooks, instructional DVDs, eBooks, etc.)
Alternate Streams of Income
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The Power of Community
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Group Discussion on One Key Challenge from the Survey
Share Your Steps to Address the Challenge
Learn from the Community
Benchmarking Exercise
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Next Steps
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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
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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
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