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Multiple Streams of Income for Your Private Practice

Recently, we had a conversation in The Entrepreneur’s Tribe about how to make sure you are making money in your business. I know first hand how challenging it can be to be profitable in business. Not making money can be a real blow to your confidence as an entrepreneurs in the mental health field…so this week, I have been on a mission to help people fix it. Check out the LIVE in our group for more insights on why this is so important and how to make it happen!

The more I thought about it, i thought it would be helpful to provide a few ideas to get you started with thinking about multiple streams of income. I really want to highlight the idea that it is possible and ideal for you to have multiple layers of income in your business…especially when you are crystal clear about your niche and what you bring to the table.

Check out this list of 11 ideas for thinking about multiple streams of income and let me know if any sparks some ideas for you.

  1. Become creative with your niche. Are you a play therapist? Consider marketing to corporate types that would not typically be your ideal client, but could really benefit from and invest in your highly trained perspective.

  2. Business to business consulting that is specific to your niche is a unique way to leverage your time and expertise. Think about the transferable skills you have that other businesses need.

  3. Offer clinical supervision that is niche specific.

  4. Write a book that highlights your expertise and can serve as a foundation for additional speaking opportunities

  5. Are you open to being in front of a group or even a large audience? Create a few workshops or signature talks around your expertise and expand your reach.

  6. Consider contractual opportunities. Take a look at local government opportunities for mental health professionals. This could be wonderful way to have a huge impact on the community and your bottom line

  7. Have an existing office space? Consider subletting to other complementary businesses

  8. If you have reached the Popping Point and are full in your private practice, it might be time to start moving towards forming a group. It’s a wonderful way to leverage your hours and have a bigger impact on the community.

  9. Adjunct professoring. It’s great networking tool and a way to earn additional money while fine tuning your expertise.

  10. Create a niche specific product…perhaps a home study system or self assessment tool that clients can download and use as a supplement or introduction to work with you. It will provide a great list building function on your website as well.

  11. Got a cool brand or logo…maybe it’s time to create some items for sale. T-shirts with your logo and catch phrases might be a cool way for some additional income. Get creative with journals, workbooks Etc that you can make available for your clients.

Maybe you have a totally different idea…leave yours in the comments! It may inspire someone else. If you are struggling to find your niche, start with Becoming Brand Confident. Together we will get you crystal clear on your unique niche and how you can start making money with it!

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