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1) If you build it they will come

One of the most difficult challenges of private practice is finding consistent referral sources. Come up with a marketing plan and secure a few referral sources before you hang up your “shingle.” (Read Private Practice Marketing Made Easy)

2) My only overhead expense will be leasing office space

Not so. Plan on buying software for billing and record keeping, malpractice insurance, business license, incorporation fees, professional consultation, website costs, paper goods, furnishings, marketing materials…

-3 Comments to
5 Common Myths About Private Practice

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  1. Yes Julie, many private practitioners do not realize the start up and ongoing costs of running a practice. At the outset there is often rent, advertising and resources to purchase, but people try to keep these to a minimum. However, as the practice develops in order to be competitive it is necessary to deveop your professional brand and get serious about your goals for your practice. This can involve website development, learning how to use social media, finding the right people to help you develop your practice. There are ongoing costs in professional development, marketing and advertising and sometimes you may wonder if it is worth the hard work and anxiety which frequently surfaces. In my case I have been able to make a profit, but to be honest I would still do it all over again as I love what I do and the money is not my main source of satisfaction.

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