Two of the most read blog posts I have had so far have been “Business Models in Private Practice” and “Business Plans in Private Practice”. In this 4th Facebook Live session I talk a little more about the differences and how business plans and models are different and how they can help you.
- We talked about Google Analytics– (this really does not have anything to do with business models and plans, I mentioned the tool in the broadcast)
- Google Analytics is a tool you can use to see where and how traffic is coming to your website.
- With Google Analytics you place some code in your website so you can track traffic.
- Its a free tool from Google
- Your business model is how you have your practice set-up.
- Three basic ways to do this:
- Sole Proprietor- solo practice
- Co-op or shared practice- two or more people sharing costs
- Group practice- several people operating under a single entity like an LLC
- Group practices can have either contracted providers or employees
- How a practice is setup can vary depending on your tax situation or state laws and limitations
- A business plan is a map to how you will run your practice
- Usually includes long and short-term goals
- Would include your mission and vision for the practice
- Would outline and give specifics on the financial side of things
- Part of a business plan could be your marketing plan or how you intend to grow you business.
- Might include plans for social media and communications with media
- It could be used to get financing for the practice.
By L. Gordon Brewer, Jr., MEd. LMFT – Gordon is the President and Founder of Kingsport Counseling Associates, PLLC. He is also a consultant and business mentor at The Practice of Therapy. Follow us on Twitter @therapistlearn. “Like” us on Facebook.