(#203) How Much Should I Charge in Private Practice?

"I don't start at the money, I start at marketing research." Setting the rates of your individual services for your private practice can be tricky. Some therapists get caught up with creating contents that they believe are 'needed' by their clients. But instead of starting with your branding colors, website, or pitch, let's circle back and review the primary steps you should take so that you can determine how much you should be charging for your services. In this episode, you’ll learn some tricks and strategies you need to demonstrate your value to your target audience. Doctor TK also shares how she leveraged marketing research to promote her mastermind program to her community. --- The Dope Therapist Academy opens in 2022! To join the waitlist, text the code ‘DTA2022’ to (310) 388-8603 Podcast Goals: Recognize the power of marketing research and how it will help you determine the pricing for your private practice Episode Timeline: Start with marketing research (02:00) Try out a focus group (06:03) How Doctor TK delved into marketing research for her mastermind program (08:33) How she was able to convert sales through marketing research (17:06) Standout Quotes: "Let me tell you the power of marketing research, targeting your ideal clients, understanding their presenting problem by talking directly to them, and then figuring out— especially if you already have a product in mind— if and how the product that you have or service that you have can match what they're looking for because if it doesn't, don't offer that product or service because you're not gonna sell it. So I took my time and I paused enrollment in the mastermind simply to do this marketing research. And do you know that that year, I ended up getting every single person that showed up to that mastermind? 100% of them showed up." (17:06) "Sometimes in order to have a profitable business, you have to slow down to speed up. That means you may know that you can attract your ideal clients. But maybe you're not getting paid your value. Maybe you are paid your value and you're attracting your clients but you're bottle-necking in your business because you're doing all the administration work. You don't know how to automate your back office. You don't know how to automate your consultation. You don't know how to put systems in place to then hire and onboard somebody so that you can get your time back." (18:15) Connect: Find | Doctor TK On Instagram: @DoctorTKPsych On Facebook:"> JOIN THE INHER COLLECTIVE WATCH PODCAST ON YOUTUBE GUSTO SIMPLE PRACTICE EHR KIT FOR EMAIL MARKETING STANSTORE