How to Add Extra Revenue to Your Practice

As therapists, we offer a professional service to the public. We exchange our time and ability for money. We often don’t have a product to sell or employees who work for us. The problem is we only have a limited amount of hours we can work. This limits the amount of money we can make. I know a lot of therapists don’t like to think about money. However to be successful, we have to consider the business side of therapy.

Consider how many clients you can see in a week, usually about 30 to 35 is the most we can handle. Multiply that by how much you make per client, subtract expenses and you have the greatest amount you can make in a week. Multiply that by 50 weeks (you probably want to have a couple of weeks off) and you have your yearly income. Depending on how high your expenses are, it can be a decent income but there are other things to factor in to the equation.

There will always be clients who don’t show up. I found the holidays took a big chunk out of my income. Clients felt they were too busy the week of Christmas plus I was limited in the days I could see clients. I took Christmas and Christmas Eve off plus my building was closed the day after Christmas so that was three days I couldn’t see clients. The other two days not many people scheduled because they were busy getting ready for the holiday.

Added to this, we have had a bad winter in Pennsylvania. That means cancellations when people can’t make it to your office due to snow. There are also mothers whose kids don’t have school and they don’t have a sitter. Plus there were days it was so bad that I couldn’t make it to my office.

Added to this, there will always be clients who drop out of therapy. And new intakes which take up more of your time. As you can see, it is never a simple equation for how much you make and you rarely make the same amount each week.

How to Make Extra Income

It’s obvious that we need other sources of revenue when business is slow or clients don’t show up. So, how do you find other ways to generate income?

Here are a few ideas:

• Blogging
• Freelance writing
• Writing professional articles
• Selling workbooks and self-help books
• Writing a book
• Speaking engagements
• Distance counseling
• Trainings
• Teaching
• Website
  • affiliate marketing
  • products for sale
  • advertisements
• Coaching
• Consulting

The first few ideas involve writing. You may be thinking, “I’m a therapist, not a writer” but don’t discount the knowledge you have about many mental health topics. Whatever your specialty is you can write about that. I’ve met therapists who have written books for children, self-help workbooks and even books about life in general. You don’t have to have a PHd to write either. Many Master’s level clinicians write books and workbooks.

The best place to start is with a blog. If you attract a lot of interest in your blog, it can open a world of possibilities for you. You can send samples of your work to sites online that are looking for writers. I got started in professional writing by answering questions about addiction for free on a website. The website owner liked my writing and asked me to write articles about addiction which he was willing to pay me for.

You have to just get your name out there and opportunities will open up for you. Talk to people you meet online through your blog or social media. When someone comments on your blog, talk to them. You never know when networking will lead to an opportunity for extra income.

Contact websites related to your specialty and ask if they need writers. Most of the time you will never hear back but that one time you do can lead to extra income for your business. Once you get the hang of writing, you may want to try writing an eBook, book or workbook.

Whatever you choose to do for extra income, pick something that you have education and experience with and gives people the best product or service. Think about what you know the most about and how you can use that knowledge to improve therapy or your client’s lives for the better. Anything that will help people live more fulfilling, happier lives will be marketable. People are always looking for ways to improve their lives and you could be the one who helps them.

Please leave any of your own ideas or ways you make extra income in the comments.

Anna Deeds, LPC has a private practice office in Uniontown, PA. Visit her Facebook pages, Therapist Private Practice and Anna Deeds Counseling and Twitter feed @annadeedslpc to follow all of her latest work. Anna has a website for her private practice at www.annadeedslpc.com.