When you have a speech therapy private practice, you’ve got to have cash in the bank to operate appropriately. Keep in mind, if you don’t have enough money to cover your expenses, then you’re really working for someone else, and that someone else is the bank. In this episode, I discuss the basics of cash […] The post 24: Cash Flow Basics for Speech Therapy Private Practice appeared first on PrivateSLP ....
Hiring your first (or 35th) employee is a big deal, and doing things the correctly is important. In this episode, I run through some of the most important things to consider when hiring your employees. I recently went through a audit at the State level for all of our employees, so I thought you might […] The post 23: Hiring Employees: What You Need to Know appeared first on PrivateSLP ....
Welcome to the first episode of 2017! When a new year starts, the subject of taxes usually comes up. When you own a speech therapy private practice, you are responsible for making timely income tax and employee withholding payments to Federal and State governments. In this episode, I discuss 1099s, employee withholding, quarterly filings, quarterly […] The post 22: A Few Thoughts About Taxes and Speech Therapy Private Practice appeared first on PrivateSLP ....
As you start, grow or scale your speech therapy private practice, you must have systems in place. Systems are a set of rules or procedures that others can learn to accomplish a larger outcome. As an owner, these systems will allow others to help and assist so that the owner can accomplish tasks. In this […] The post 21: Goals Are Good But Systems Are Better appeared first on PrivateSLP ....
When you are starting, growing and scaling a speech therapy private practice, you have to pace and take care of yourself. This can be difficult, especially in the early years of your private practice, because often you are taking care of all aspects of the business: Scheduling, referrals, accounting, cleaning, compliance, marketing, supplies, etc. In […] The post 20: Avoiding Burnout in Speech Therapy Private Practice appeared first on PrivateSLP ....
If you have employees, check out Intuit Payroll. I have used this payroll service for years. I know there are other services out there; However, with 35 employees on the books, I like to look at all of the numbers, reports and keep a close eye on what goes out of the businesses twice monthly. […] The post 19: Payroll: What You Need To Know In Speech Therapy Private Practice appeared first on PrivateSLP ....
It’s going to happen to us all, no matter how hard you try, no matter how many Starbucks cards you give away in your clinic for positive feedback, no matter how many families that you ask to leave positive reviews online. The day will come, I promise. And when it does, embrace it and learn […] The post 18: Negative Feedback: On a Positive Note appeared first on PrivateSLP ....
I’ve said it before and I’ll say it again: If you want to have a successful speech therapy private practice, then work on your relationships with your clients, referral sources and employees. In our profession, we really get to know others. That’s what happens when you work with a family or co worker weekly for […] The post 17: The Foundation of a Successful Speech Therapy Private Practice appeared first on PrivateSLP ....
Many people contact me and ask this question, “How do I start a speech therapy private practice and just take cash and not deal with insurances and minimize headaches”? There isn’t an easy answer to this question, because with the increase of consumers forced to have insurance coverage, people want value. Patients want to use […] The post 16: Accepting Insurances: How to Have a Successful Speech Therapy Private Practice appeared first on PrivateSLP ....
I always take the side streets and back roads. The other day I was thinking after I made it to the office, Speech Therapy private practice is comparable to the side streets in that it’s not always fast, you must plan, and you have many starts and stops along the way. In episode 15, I […] The post 15: Lessons Learned from the Side Streets appeared first on PrivateSLP ....
When you start, manage and grow your own speech therapy private practice, time is always limited. Let’s face it, there are only so many hours a day, right? Making a commitment to start a speech therapy private practice is important step in your financial future. Sunset Beach, North Shore, O’ahu In this episode: 01:37 […] The post 14: You’re Either Consuming or Producing appeared first on PrivateSLP ....
We really aren’t trained in graduate school to create boundaries for ourselves and say “no” sometimes. When scheduling clients, we need to be clear and have expectations for clients and families so that we can do the best job possible. Treatment is a 2-way street. We have to value client’s time and they must value […] The post 13: What You Need to Know: Scheduling Essentials In Speech Therapy Private Practice appeared first on PrivateSLP ....
When I am working with others, I always stress the importance of dedication and persistence. You have to remember that success in anything that we do happens over time. So many people think that making a few changes in their life will automatically lead to a successful outcome. In business, we must be cautious and […] The post 12: Speech Therapy Private Practice Is a Long Game appeared first on PrivateSLP ....
I was thinking the other day after speaking to this gentleman about his private practice. With all of the technology at our finger tips, there is no substitute for old-school drive, desire, motivation and “elbow grease”. He wanted to know what app that I used to organize “this” and complete “that”. He kept asking what […] The post 11: Original Success Secrets For Speech Therapy Private Practice appeared first on PrivateSLP ....
Sharon, a SLP from Washington State emailed me recently (actually while I was in the hospital passing a kidney stone — there’s a first time for everything, right?!) regarding out-of-network benefits (OON). In this podcast, I discuss a checklist that you can use in your business to process referrals that are out of network in […] The post 10: Checklist for Out of Network Benefits appeared first on PrivateSLP ....
Distractions are everywhere. In today’s world, companies left and right are competing for just 2 seconds of our time in order to sell us something or capture our details. As a business owner, we have to remember that staying focused is very important to business growth and development. In this episode, I will share some […] The post 9: Managing Distractions In Speech Therapy Private Practice appeared first on PrivateSLP ....
Managing your expenses is a key part in having a successful private practice. One way to do this is by using an Apple or Android device and certain applications. In this episode, I will share my experience with one application called XpenseTracker. I have used this application to manage multiple properties, business mileage and business […] The post 8: Managing Expenses In Your Speech Therapy Private Practice appeared first on PrivateSLP ....
Cognitive distortions are ways that our mind convinces us of something that simply isn’t true. These irrational thoughts are usually used to reinforce negative thinking or emotions, such as telling ourselves things that sound rational and accurate, but really only serve to keep us feeling bad about ourselves. Generally, these distortions are at the subliminal […] The post 7: Cognitive Distortions That Affect Business Growth appeared first on PrivateSLP ....
If starting and running a speech therapy private practice were easy, everybody would be doing it. Winston Churchill was a British statesman who was the Prime Minister of the United Kingdom from 1940 to 1945 and again from 1951 to 1955. He acknowledges six important principals that are important for success, and I relate these […] The post 6: Six Principals For Business Growth appeared first on PrivateSLP ....
Your first office doesn’t have to be perfect. As a matter of fact, easing into your new space and growing slowly over time is a smart way to manage cash flow while growing your referral base. In this episode, you’ll hear how we moved from community visits to our first office, then adding 2 […] The post 5: Your First Speech Therapy Office appeared first on PrivateSLP ....
