1. BUILDING A 7-FIGURE Counseling Practice Anthony Centore Ph.D. 2. BECOMING AN ENTREPRENEUR 3. SOMEONE WILLING TO WORK 80 HOURS A WEEK TO AVOID WORKING 40 4. HANDS ON ENTREPRENEURSHIP 5. WE NEEDED NEW RUGS 6. LOW TYPICAL MOMENTS 7. CAN I BE AN ENTREPRENEUR? 8. CONS PROS 9. CONS Difficult PROS 10. CONS Difficult Risk PROS 11. CONS Difficult Risk Work PROS 12. CONS Difficult Risk Work PROS Flexible 13. CONS Difficult Risk Work PROS Flexible Creative 14. CONS Difficult Risk Work PROS Flexible Creative Own Boss 15. CONS Difficult Risk Work PROS Flexible Creative Own Boss Financial? 16. A NOTE ON RUGS 17. WHAT IT TAKES TO SUCCEED IN PRIVATE PRACTICE 18. A TALE OF 2 COUNSELORS 19. BRIAN 20. EMMA 21. ADVANTAGES 22. ADVANTAGES Clinical Experience 23. ADVANTAGES Clinical Experience Business Acumen 24. ADVANTAGES Clinical Experience Community Reputation Business Acumen 25. ADVANTAGES Clinical Experience Investment Capital Community Reputation Business Acumen 26. ADVANTAGES Clinical Experience Luck Investment Capital Community Reputation Business Acumen 27. CONSTANT FORWARD MOVEMENT 28. UN-CATCH 22S 29. PROGRESS > EFFICIENCY 30. CFM 31. WHOS STORY SOUNDS MORE LIKE YOU? 32. NOT A SOLO PRACTICE 33. GROUP V. SOLO 34. GO SOLO 35. SIMPLER 36. 6 FIGURES 37. HIGHER PROFIT MARGIN 38. MORE TIME COUNSELING 39. GO GROUP 40. SELLABLE 41. FLY WHEEL 42. FREEDOM FROM THE COUCH 43. LESS ISOLATING 44. SHOW ME THE MONEY 45. SHOW ME THE MONEY A counselor will bill about $75 per session 46. SHOW ME THE MONEY A counselor will bill about $75 per session 36 sessions a week = $2,700 47. SHOW ME THE MONEY A counselor will bill about $75 per session 36 sessions a week = $2,700 48 weeks a year = $129,600 48. SHOW ME THE MONEY A counselor will bill about $75 per session 36 sessions a week = $2,700 48 weeks a year = $129,600 A psychologist will bill about $95 per session 49. SHOW ME THE MONEY A counselor will bill about $75 per session 36 sessions a week = $2,700 48 weeks a year = $129,600 A psychologist will bill about $95 per session = $164,160 50. SHOW ME THE MONEY Just therapy, without: Psychological Testing Medication Management Group Counseling Court Appearances Other Ancillary Services 51. SHOW ME THE MONEY 7.6 Counselors, or 6.1 Psychologists to earn $1,000,000 in Revenue! 52. $1,000,000 IN REVENUE! 53. BUT WAIT! 54. REVENUE IS NOT PROFIT 55. SHOW ME THE MONEY Therapist Compensation 55-70% of Total Revenue 56. SHOW ME THE MONEY Therapist Compensation 55-70% of Total Revenue ~ $300,000 - $450,000 left 57. WHAT CAN YOU BUY WITH $450,000? 58. 1.08 ct. platinum, fancy vivid blue diamond 59. 775 sq foot apartment, with one bath, in Brookline, MA 60. Take That, Austin Powers 61. NOT SO FAST 62. OPERATIONAL EXPENSES 63. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% 64. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% 65. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% 66. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% 67. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% 68. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) 69. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% 70. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% 71. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% 72. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% 73. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% 74. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 75. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 76. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 77. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 78. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 79. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 80. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 81. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 82. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 83. OPERATIONAL EXPENSES Credentialing, Billing & Credit Card Fees: 7-15% Rent & Parking: 3-7% Reception & Scheduling: 3-5% Office Expenses, Supplies & Postage: 1-3% Admin Salaries: 0-8% Marketing: 0-5% (once at capacity) Research & Development: 0-3% Clinical Supervision & Professional Development: 0-3% Software & Electronic Medical Records: 0-3% Accounting, Bookkeeping & Legal: .5-1% Travel: 0-1% Bank Fees: 0-1% 84. NET PROFIT 85. -25% TO 25% 86. RESULTS MAY VARY 87. RESULTS MAY VARY 1) Take home the same in solo practice 88. RESULTS MAY VARY 1) Take home the same in solo practice 2) Only money they keep is what they produce 89. RESULTS MAY VARY 1) Take home the same in solo practice 2) Only money they keep is what they produce 3) Highly profitable, and self-sustaining 90. RESULTS MAY VARY 1) Take home the same in solo practice 2) Only money they keep is what they produce 3) Highly profitable, and self-sustaining 4) A combination of self and team best *Sellable & Real Estate 91. GETTING TO BLACK 92. BUILT TO SELL 93. STARTING WITH THE END IN MIND 94. REASONS TO SELL INCLUDE... 95. RELOCATE 96. CAREER CHANGE 97. TO LIQUIDATE! 98. RETIREMENT 99. THINK YOURE TOO YOUNG? 100. AN UNSELLABLE BUSINESS