abundance

What Do You Believe About Private Practice

What Do You Believe About Private Practice

I was sitting at lunch last week with a therapist who had reached out to connect with me as he is getting ready to move into his post-doctorate life, and he asked me, “So, Jenn, how did you do it, how did you build a successful private practice?”  Good question, right?  I thought so, and I took a minute to reflect on what he had asked me.  I gave him the most honest, heartfelt response I had, which was that “I always knew I would.”

I went into grad school knowing that my ultimate destination was private practice. I can remember the messages being delivered those first few days of school of how I could expect to make no money as a psychologist and not to bother with private practice because it's too hard to build a sustaining practice. Whether it was naiveté, or arrogance at the time, I chose to brush off those messages as foolish and I'm so thankful that I did because how we think about ourselves, our business, and our potential for success is critical to the amount of success we achieve.

What It's Like to Make Money In Private Practice

What It's Like to Make Money In Private Practice

I didn’t grow up with money and I don’t come from a wealthy family. In fact, my family wasn’t even middle-class. I grew up with a single mom, who did the best she could, but hit some hard times and often struggled to make rent.

When I considered going back to school to pursue my doctorate, I remember looking at the numbers I was facing in student loans and talking to an accountant friend about whether or not this was realistically something I could take on. At 25 years old, barely earning $1500 a month, I couldn’t wrap my head around the idea that I could ever take on a $200,000 investment such as grad school. The monthly payments on that alone are more than I was used to earning at that point in my life!