Tag: cash flow management

The 3 Stages of a Therapy Practice

In any business whether it’s a global manufacturer, a corner sweet shop, or a professional practice, the business passes through a number of distinct phases. These are not dissimilar to the growth of a seed to a mature tree, or a person from a baby, to a child and adolescent, into an adult.IMG_1671

These stages are connected by periods of growth and development. In order to move from one stage to the next, certain tasks need to be completed. Some challenges need to be met and overcome. Some lessons need to be learned. And during this process the young human or practice has needs that must be met in order that the growth is healthy and useful.

Read more

A Business Mind Set

In his classic series of E-Myth books, Michael Gerber speaks of the entrepreneur mind set, and in particular the distinction that he sees between those who succeed in business and those who don’t.

The E-Myth of the title, is the entrepreneur myth, that anyone who starts a business is an entrepreneur. He then goes on to debunk this myth. Everyone who is in business spends time working in the business. In the case of therapists, we spend time working with clients. However, that time is not spent attending to the needs of the therapist, or of the therapist’s business. And there lies the distinction that Gerber draws between those who succeed in business and those that don’t.

Those who succeed spend time, not just IN the business, ie attending to the needs and affairs of the clients, but also spending time working ON and thinking ABOUT the business, ie attending to the needs of the therapy business.

So what does working ON the business of therapy look like? 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

Managing Your Personal Cash Flow

I’ve written before on the subject of cash flow management, but it’s so important that it’s worth writing about again. The work in a therapy practice can come and go, sometimes with little warning, so it helps to have some strategies in place to help to manage your own finances. Here are a few tips to help you: 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:

Read more