Private Practice Success: How to Develop Multiple Streams of Psychotherapy Income

Mental health professionals have a wealth ofaccommodations need be arranged; you only
valuable, even crucial, information and expertise inneed to rent a telephone bridgeline.Teleseminars
which many people are in need.One-on-onecan include people from all over the country, even
therapy is only one way we can deliver thisinternationally, at the same time.Classes are
expertise and help.There are a number of possibletypically 60 minutes long, but can vary. Often
ways therapists can create revenue streamsteleseminars are offered in a multi-class
while sharing their talents, expertise and skills withseries.Teleseminars are another way to offer
people in need.Some of these ways are traditionalyour packaged content and introduce people to
and common, but others are rather innovativeyour services. Teleseminars can be offered for
ways therapists are beginning to put their abilitiesfree to attract prospective clients and let them
to good use. In doing so, they are creatingsample your services.See for examples of what
revenue streams.Traditional ServicesAlthough itsvarious professionals are offering. Or, do a search
time for therapists to think out of the box andon Google for teleseminars or teleclasses. There
develop new services that creatively meet theare hundreds to browse and attend.To get a
felt needs of niche markets, there is a place forbetter feel for how to conduct a teleseminar,
the traditional therapeutic services.These includeattend some yourself.ConsultingThe goal of this
psychotherapy for the DSM diagnoses,book is to help mental health practitioners build
psychological testing and evaluation, marriage andthriving managed-care free private practices.
family therapy and behavioral health care.And,One of the themes I hope I have conveyed is
yes, people will forgo managed-carethat psychology is not just for DSM diagnoses.
reimbursement and pay out of pocket forWhile we have discussed ways to market
services that are of higher value because theytraditional services, diversification is important, as
are higher quality, offer real privacy and are trulyit increases the chances we can generate
customized for the individual needs.One of thesufficient income to operate outside of managed
frustrations I hear from mental health carecare.
service consumers is that they can't find aMultiple streams of psychotherapy income can
specialized therapist in their managed-carebe developed in one's practice.When I decided to
insurance network.It's as if managed care'sbuild a manage-care free practice, I gave
philosophy is, "We'll help you obtain access toconsiderable thought to howI could provide
psychotherapy, but we don't care whether theprivate-pay services. I explored how I could use
therapist we connect you with is a specialist. Amy skills in ways that people would readily
generalist is fine."Set yourself apart andpay.Many psychologists and other mental health
demonstrate your true value in the marketplaceprofessionals are successful in consulting in the
through specialization. Many people in the marketworkplace for the benefit of employees and
for therapy value specialization.Getting PublishedAemployers. Business consulting can be a very
book is a powerful way to affect lives. It is also alucrative income stream.Like many practitioners, I
good way to establish credibility, highlight yourfound my skills could be applied in the business
practice and services and position yourself in yourarena. Today, through a business I started called
niche.And, it's easier than you think if youLeadership Concepts, I offer services in the areas
self-publish. It has become very affordable to doof business consulting, executive, business and
so, and it puts you in charge of the content, pricecareer coaching and seminars and workshops for
and reprints.It can actually be more profitable, too.businesses. This has proven to be a solid and
You keep every dollar above your costs. If yougrowing income stream for me, and it is work I
went through a major publisher who sells a fewreally enjoy.Other ways to diversify into consulting
thousand books, you would only receive theinclude behavioral medicine, forensics and sports
author's fee. You can make as much selling a fewpsychology.Consulting is a very broad and diverse
hundred copies of a self-published book yourself.Ifarea, so I won't scrape the surface of the
your book is successful, you may even attract apossibilities here. But perhaps I can give you good
large publisher to take over your book.Writing adirections for exploration.If this area is new for
book opens doors to speaking engagements,you, you will be surprised to find out the many
media opportunities and a reputation in your nichevaluable ways our psychology and mental health
market.It also helps you to crystallize yourexpertise can be of benefit to people in the
thinking and enhances your effectiveness as aworkplace.
practitioner; it's a great exercise in that sense.Our background makes us capable of assisting
You will learn a lot both in breadth and depth.Takebusinesses with many different barriers to
the opportunity now to brainstorm ideas for aproductivity.To familiarize yourself with this terrain,
book that's inside you.It doesn't have to be long.I suggest you do a Google search using the
One hundred pages is plenty.TeachingTeachingkeywords "business," "consulting" and
courses part-time at a local college or university"psychologist" and browse the web sites that
can be an attractive stream of income.I havecome up.Forensic ConsultingAnother specific type
been teaching as adjunct faculty in the Doctor ofof consulting is worth considering
Psychology (Psy.D.) program at Widenerseparately.Forensic consulting has to do with
University outside Philadelphia for several yearspsychological or mental health service specifically
and find it both rewarding and enjoyable.Thinkrelated to the court system.Often times, a court
about areas of special interest on which you couldhas to deal with issues that impinge on mental
teach a course. Courses that adjunct facultyhealth issues.Some of these include:Criminal
teach can be core curriculum in a graduatecasesCompetency to stand trialMental status at
program, an undergraduate course or an elective.Itime of offenseMitigating factors in offensesRisk
find that part-time professors who areassessments, violenceCivil casesEmotional
practioners have a lot to offer because they aredamages in personal injuriesAssessments for
immersed in what they teach. Students seem tomalingeringFamily cases and otherChild custody
appreciate this as well.E-booksE-books are anotherevaluationsCourt-ordered psychological
medium in which you can package and shareevaluationsIn addition, attorneys often need help
specialized information.And e-book is a writtensorting out the issues when questions of a
piece of information that is distributed via thepsychological nature occur in their cases. They
internet electronically. It is offered free or for aretain psychologists and other experts to review
cost (typically $10 to $30) on a web site.You canfiles and help them prepare for depositions or
also submit an e-book to web sites that listcross-examination of experts.Psychologists and
hundreds of e-books to make them available toother professionals can inform the court on
the public.Tens of thousands of e-books areissues, perform assessments and testify as
downloaded each year, and are changing lives forexperts.Consultants in this area testifying as
the better.Perhaps you can make yours one ofexperts typically receive $1,000 to $2,000 for
them.Do you have a solution to a specific problemtheir testimony.I find that this niche is an
or can you research the answers?The bestattractive one for several reasons:It is completely
e-books share answers to a specificmanaged-care freeIt is interesting workIt makes
problem.E-book topics I have heard of recentlygood use of our backgroundIt is lucrativeIt is a
include: how to write a eulogy, how to cope withspecialized area that many professionals find
a hysterectomy and the topic of recovering fromintimidating,which means less competitionIf you
fibromyalgia.These are e-books written byfind this an interesting prospect as a part of your
non-mental health professionals. Imagine whatpractice, then I encourage you to begin taking
information psychotherapists can offer in thissome training workshops to familiarize yourself
just-in-time format.E-books cost very little towith the terrain.Web sitesRevenue streams can
produce and nothing to distribute. You can attachbe active or passive. Therapy sessions, therapy
the file for an e-book to an email or make itgroups, workshops and consulting services are all
downloadable from a web site.A great e-book isactive forms of revenue streams. You exchange
not long. Many of the best are 10 to 35 pagesyour time and skills for a fee.Passive revenue is
long.E-books offer short answers to problemsrevenue from streams that do not involve
readers want to solve, and are available to peopleservice delivery, but once set up, occur
quickly.Good e-books are specific and do notautomatically 24/7. A common form of passive
contain general information. The key torevenue is income from products sold on a web
marketability is communicating your precisesite.Can you see the advantages of passive
answer to a specific problem.E-CoursesE-Coursesrevenue? Can therapists develop passive revenue
are similar to e-books, but they may be lengthierstreams? You bet!Therapists can productize their
and delivered to readers one segment at a time.most useful expertise and offer information
As the name implies, these can be formatted asproducts to benefit others.Some of these we
guided self-study programs.E-courses allow for thealready looked at, like books, e-books and
content to be integrated over a specific period ofe-courses. These can all be offered on a web site
time. Each lesson can be a simple article or morefor web seekers to obtain and utilize to fill their
in-depth with guided self-study. Write betweenneeds.There are other possibilities as well, such as
five and 10 lessons, and you have a goodlicensing programs.As an example of a passive
e-course.Written by a professional, a goodrevenue web site effectively offering information
e-course can bridge the gap between a readerproducts to a specific niche, see Passive income
learning new information and the reader applyingstreams utilizing the internet via web sites are a
that information to his/her life and making aburgeoning area for many service professionals,
behavioral change.Personal CoachingIn sports,but few mental health professionals are taking
coaching is important to help an athlete develop aadvantage of the potential so far.This will be
winning strategy, develop skills and execute thechanging soon.Active income streams can also be
plan. The coach knows how the athlete canmarketed on the internet.Web sites can also be
progress and move forward. He/she urges theeffectively used as a marketing tool for your
athlete to set high goals and provides motivation,fee-for-service practice. More and more therapists
support, focus and encouragement.Over the pastare putting up web sites and for good reasons.A
10 years, the field of professional coaching inweb site is your practice brochure, available any
personal development and business arenas hastime, day or night, to seekers on the internet.
grown tremendously.What is coaching? PersonalPeople you meet, people who hear you give a
coaching is a one-on-one professional relationship inpresentation and people referred to you by
which a client is assisted in achieving a personal,another professional, can be directed to view
business or career goal.What is the differenceyour web site, find out more about you and,
between coaching and therapy? Although coacheshopefully, be stimulated to contact you.A simple,
sometimes assist people with challenges andattractive, intriguing postcard sent to a mailing list
problems of various kinds, they do not try to helpcan direct your niche market to your web site.
people overcome problems related to diagnosableOr, your yellow page ad in the phone book can
conditions as found in the DSM.Rather, coachesinclude your web address.A web site is much
assist well-functioning people to attain greatermore than a brochure. It is also a potentially
levels of achievement and satisfaction in theirpowerful marketing vehicle, when combined with
personal lives, businesses or careers.While therapyinternet marketing strategies.If you decide to
is remedial and restorative, coaching ishave a web site for your practice, or for a
developmental and growth-oriented.Therapy healsparticular niche service, make it full of resources
mental and emotional infirmities, while coaching(articles and free information) that will attract
helps healthy individuals achieve more or reachpeople to it and make them want to spread the
important goals.Personal coaches work with clientsword.Although beyond the scope of this article,
on a wide range of issues, such as coping with ainternet marketing strategies can be developed to
problem or crisis, focusing their efforts ondrive people to your web site.Increasingly, people
achievement, making career transitions, livingare beginning their search for products and
more fulfilled lives, achieving life goals and buildingservices on the internet.The yellow pages are not
better relationships.Other coaches assist peoplethe first choice for many.Are you effectively
with business development or managerial orrepresented on the Internet?Licensing
leadership development. These coaches are calledProgramsAfter you have developed effective
business coaches or executive coaches.Whilestructured programs for your niches, you can
coaching is not always based on psychology, itlicense the use of these programs to other
often is. And many of the skills a coach uses areprofessionals.Other therapists have been doing this
the skills in which therapists are trained. So, therefor years. Psychologist Dr. Daniel Dana, a conflict
is considerable overlap between coaching andresolution specialist, certifies mediators and
therapy.This is why many psychologists,licenses his program at Another example can be
counselors and therapists have found coachingfound at DifficultChild.com, as we mentioned
attractive and transitioned into coaching eitherpreviously. Howard Glasser, M.A. offers a
entirely or as a part of their practice mix. I amparenting approach and program, as well as other
one of them.materials, for ADHD children. His program involves
In many ways, therapists have an ideala book, a training program for parents and a
background to be coaches. But the differencestraining and certification program for therapists.His
between coaching and therapy are significant andprogram is called "Transforming the Difficult Child:
important to keep in mind.Therapists can makeThe Nurtured Heart Approach."One of my
great coaches because of their insights intocoaching clients is certified in this program and
human motivation and behavior, theirspeaks highly of it.Howard Glasser's web site
understanding of human development and lifeactually models several streams of income,
transitions, their communication and relationshipincluding a book, workshops, training other
skill and their sense of professional ethics,professionals, licensing or certification and internet
knowledge base and experience in helpingmarketing for all the above including his
people.Live Workshops, Retreats,practice.These "programs in a box" are typically
TrainingsPresenting live events such as seminars,complete turnkey therapy, counseling or consulting
workshops, retreats and training programs can beprograms that therapists can purchase. They are
a very lucrative stream of income.And, it can beusually complete, including the structured program
a powerful way to affect peoples' lives.The groupitself, instructor materials, workbooks and also
setting allows learners to engage with yourinclude marketing pieces you can use to generate
material and benefit from the collective knowledgebusiness.For those of you who want to do niche
and experience of the group.Live programs canmarketing but prefer not to do the creating part,
also be an introduction to your other services.you may want to find out whether someone has
Brief programs, such as a "lunch and learn," candeveloped a program you can utilize to serve
be delivered for free as a solid marketing vehicleyour niche.Someone may have done the work
for your practice.As a therapist, if you havefor you.If you can find a program suitable for
developed and packaged your message into ayour niche market, you could be a few days
program as recommended earlier, you have theaway from having a marketable service in your
makings of a great seminar or workshop.Why notrepertoire.Training Other ProfessionalsWhen you
kill two birds with one stone?Promoting ahave developed an effective program, you can
workshop or retreat is promoting your practice atleverage it by training others in your approach and
the same time - and may be psychologicallymethods.Innovators in therapy have been training
easier to do.Consider adding a post-trainingothers for years. If you develop a specialization,
element to your program. It could be a follow-upprogram or niche service in a growing area, you
mini-workshop, a series of workshops ormay find many other therapists would like to
one-on-one work.You can leverage the energy oflearn from you.Sometimes the innovation is mainly
a live event in many ways for additional revenuein how a service is packaged.You can train other
streams.And, it is likely that some participants willprofessionals via live workshops, self-study
choose to work with you after the event isprogram packages and teleseminars.Diversification
over.You will want to casually present your otherby developing a number of streams of
offerings at the event. You may make it easierpsychotherapy income increases the chances you
for them by having a sign-up sheet.TeleseminarsAcan create sustainable income and can be
teleseminar (also called a teleclass) is a seminarrewarding in other ways too.William D. Morgan is a
held over the telephone, like a conference call.Thepsychologist, author, and private practice business
advantage of a teleseminar is the convenience. Nocoach. He coaches human service professionals
one has to commute and the consumers dial to aand others who want to build thriving practices.
bridge line at the specified time. No physical