All Things Private Practice Podcast Episode 128: How To Successfully Grow + Sell Your Private Practice [featuring Nicole McCance]
When you're in private practice, there is only so much money you can make seeing clients 1v1, as income inevitably plateaus. During this episode of the All Things Private Practice Podcast, I talk with Nicole McCance, a retired psychologist turned business coach.
We talk about how she built her group practice to 55 clinicians in the Toronto area, and how she eventually sold her practice.
Here are 3 key takeaways from our conversation:
- Systemize your operations: Writing down every aspect of your daily tasks and delegating them to create replicable processes is crucial for building a solid foundation for growth. Creating an efficient system can give you the freedom to step back and allow your practice to run smoothly.
- Hiring the right team: Initially, consider hiring a "mini-me" to ensure consistency with your practice's brand and client experience. Later, listen to the market and adapt your hiring strategy to meet the specific needs indicated by client inquiries. Being picky and maintaining high standards when selecting team members can ultimately lead to a more successful and productive practice.
- Streamline the sales cycle: Optimizing the client booking experience by offering online booking and aiming for a 48-hour appointment turnaround time can significantly enhance customer satisfaction and minimize no-show rates. Also, implementing an effective follow-up process for initial consultations can further improve the client conversion rate.
More about Nicole:
Nicole is a Psychologist (retired) turned Business Coach for therapists scaling to a group practice. She expanded her private practice to 55 therapists and multiple 7 figures in 3 years, sold her clinic in the 4th year, and then retired as a Psychologist in her 5th year. She now teaches therapists how to help more people, make more money, and have more freedom following her proven method. Catch her top-rated business podcast every week, The Business Savvy Therapist, or her strategies on Instagram: @nicole.mccancemethod
- Grab Nicole’s Expand Your Practice Starter Kit here: members.mccancemethod.com/discover-how-to-expand-your-psychotherapy-practice-in-3-easy-steps
- Join Nicole's free weekly masterclass, called Level Up to a 7-Figure Group Practice: members.mccancemethod.com/masterclass-registration
- Nicole's free Facebook community for ambitious therapists: facebook.com/groups/947689352498639
- Nicole's Website: mccancemethod.com
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Thanks to Our Sponsor: The Receptionist for iPad
I want to thank The Receptionist for iPad for sponsoring this episode.
The Receptionist offers an iPad list check-in option where clients can scan a QR code to check in, which negates the need for you to buy an iPad and stand. Go to thereceptionist.com/privatepractice and sign up for a free 14-day trial. When you do, you'll get your first month free. And don't forget to ask about our iPad list check-in option.
Mentioned in this episode:
The Receptionist for iPad
The Receptionist for iPad is a HIPAA-ready digital check-in system that eliminates the need to walk back and forth from your office to the waiting room to see if your next appointment has arrived. Clients or patients can check in for their appointments, and you'll be immediately notified by text, email, or your preferred channel. Break free from interruptions and make the most of your time, because it is valuable. Start a free 14-day trial of the Receptionist for iPad by going to https://thereceptionist.com/privatepractice. Make sure to start your trial with that link to get your first month free if you decide to sign up.