Category: Earning a Living

CAO Time

Car.

Learning a new skill, such as driving or becoming a therapist, involves a process. In learning to drive, the route is pretty simple. You learn the theory, then you do your driver theory test. Next, you go out and take some lessons. When you’re proficient enough, you do the test. And if you’ve learned your lessons well, you’ll get your licence.

A similar process takes place when you train to be a therapist. You go to school, you learn a bit, then you start trying out your new skills on others in the school, and finally on clients. If you do your lessons well, you’ll earn your qualification. You spend a couple of years putting in client hours, and eventually, you have earned your accreditation. Read more

Reviewing the Situation

I’ve written before about my belief that money is a bit of a shadow in our profession, and probably for everyone at some level. It’s a subject I have a lot of interest in, having some money related trauma in my past, and my earlier career in accountancy. I recently came face to face with a visual image of one aspect of my own money shadow which I thought I might share with you today.

shadowWhy is it important to look at our own money shadow? For the same reason that uncovering any shadow aspect of ourselves is important, because as long as it stays in the shadow, it uses energy to keep it hidden, and it is in danger of sabotaging us in some way. Read more

Facebook: a good servant or a bad master?

To Facebook or Not to Facebook?
I was at a family function recently at which an argument was raging about Facebook. The pro-camp was strongly in favour, citing the benefits of keeping in touch with family and friends, and being able to share photos and cute and inspirational sayings. The anti-camp were pushing hard, pointing to undesirable posts, such as videos of ISIS going viral and youngsters being exposed to unsuitable material before they were mature enough to handle it.

fireI found myself wondering if the same arguments raged in the aftermath of the discovery of fire. The pro-camp would be extolling the advantages of heating and cooking, the anti-camp talking about the dangers of burning yourself or your cave! Or perhaps when the wheel was invented there were heated debates on the virtues of being able to move your things about more easily against the demons of motorway accidents and runaway trains. Read more

The Support Inside

Often the challenge for therapists around what needs to be done to create the practice they want is not a lack of information. It’s not that people don’t know what to do. In truth, if you want to find out how to do pretty much anything, Google will give you the answer. In this high tech, instant access culture, there is no shortage of information about how to do anything. (There are also several books with just that title!)  helping hand

So what is it that gets in the way? Well as therapists, we also know the answer to that. It’s the internal game. What’s going on inside us dictates what actions we are willing to take, the attitude with which we meet those tasks, and how we feel about doing them. When we are unaware of what is going on inside us, we can sabotage and undermine our own efforts. Even when we are aware of our inner experiences, we can get tangled in what’s going on inside, so that we can become lost in indecision, in lack of focus, or in yo-yoing backwards and forwards from one direction to another. Read more

Investing in Your Therapy Practice

It can take 3 years or more to get any new practice off the ground, and even then, some struggle for ever to earn sufficient income to support themselves. Often the response to that is to “tighten the belt” or trim expenses to the minimum in order to make ends meet. However, there is another option.

You could invest more money into your practice to give it the boost it needs.Photo no (53)

A practice needs to generate sufficient income to give you what you want out of it (which is VERY important). However, there is a level of activity below which it is costing you money to have a practice. There are some costs you have to incur in order to maintain your accreditation, whether you see clients or not, such as your professional subscription, CPD and a minimum level of supervision. Until your income exceeds the costs of going to work, working is costing you money! You may still choose to practice under these circumstances anyway, and it’s a valid choice. If you’d like to read more about this subject, please see my article on the Breakeven Point.

However, if you’d prefer to earn a bit more, there are many ways that investing capital into your practice could help to make it more profitable. Read more

How Do I Break Even in my Therapy Practice

How Many Clients Do I Need Or How Much Do I Need To Charge

In Order To Breakeven

Your total income from your practice is affected by 2 main factors: the price you charge, and the number of hours you work for which you get paid. A change in one factor leads to a higher or lower total income. If you increase your price, and work the same number of hours, your total income over a period (say a year) goes up. If you work fewer hours but keep the price the same, your income goes down.

“Breakeven” is the point at which your income equals your expenses. If I earn more than the breakeven I make a profit, Wallet and some money on a wooden tableor net income. If I earn €100 in fees, and it costs me €80 in expenses, the difference (100-80=20) is profit or money I can spend. If I earn less than breakeven I make a loss, or net expenses. If I earn €100 in fees, and it costs me €120 in expenses, I need to find the difference from somewhere, in order to ensure all my expenses are paid.

Why is breakeven important? Breakeven gives a benchmark for the minimum you need to earn in order to cover your costs.

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Not Earning Enough? Five Ways to Improve Your Bottom Line

If you find that you don’t earn enough from your practice, if what you have left after paying expenses at the end of the day, week or month is insufficient, then you need to look at what you can do to improve the situation. There are a number of options Photo no (39)available, and depending on your circumstances, you might consider looking at all of them. Read more

7 Tips to Manage Your Cash Flow

Wallet and some money on a wooden tableCash flow is the term used for the ins and outs of money in your practice. It’s important to manage it so that you don’t end up at the end of the month with no money to pay the rent, or put petrol in the car. Income in a therapy or counselling practice can be changeable, dipping at some times of the year, rising at others. There are a few easy steps you can take to help you manage your cash flow more effectively:

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Are Negative Thoughts Holding Your Practice Back?

Do you have negative thought patterns that are getting in the way of you having the practice you’d like to have? No? Maybe? Ask yourself if any of the following are familiar?

  • There are very few clients out there
  • No one has any money
  • People are making other choices, such as Reiki, or Homeopathy, or Angels
  • Therapy is seen as an expensive way of sorting out your problems
  • No one wants to take the time it takes, they want a quick fix
  • No one wants therapy in my area?

And all of these statements are true.file0001517402088

Except for those people for whom they’re not true.
Read more here

Value for Money

Photo no (38)Value for money is so subjective, isn’t it? And it’s also a very personal thing. What is a necessary expense for one of us, is a frivolous luxury for another, and vice versa. Writing about our values and beliefs about money recently left me thinking about the value we place on experiences and on things, and how that varies so hugely from person to person.

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