Curt and Katie chat about different types of return on investment (ROI) for a therapist in private practice. We look at what therapists often get wrong when deciding how to invest their time, money, or energy. We also give some ideas of what can be more effective in getting the highest ROI (of all types) for your therapy business and career.
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Show notes: therapyreimagined.com/modern-...
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In this podcast episode we talk return on investment
In response to last week’s episode on managing your money, we had additional ideas on the concept of a return on investment.
What are the different types of return on investment that therapists have in their practice?
The financial ROI of money in versus money out
How much time spent versus the benefit to your practice and yourself
The amount of energy spent (or saved) or the type of energy you have available at different types of day
Connections made while networking and how they can be valuable to a therapist (e.g., referral sources, friends, support system, business collaboration)
Learning and expertise, continuing education
Enjoyment and fun
Supporting mission, vision, and/or values, legacy
What do therapists typically invest time, money, or energy in, that don’t have a good ROI?
Saying yes to everyone and every opportunity
Going to networking with only financial ROI (getting referrals for your therapy practice) as a goal
Insufficient marketing (i.e., not staying consistent through enough touch points before someone refers or signs up as a client)
Not assessing return on investment for the different types of activities you perform for your practice
Getting additional certifications without a clear ROI for your practice
Who we are:
Curt Widhalm, LMFT
www.curtwidhalm.com
Katie Vernoy, LMFT
www.katievernoy.com
A Quick Note:
Our opinions are our own. We are only speaking for ourselves - except when we speak for each other, or over each other. We’re working on it.
Our guests are also only speaking for themselves and have their own opinions. We aren’t trying to take their voice, and no one speaks for us either. Mostly because they don’t want to, but hey.