ENCORE: A Deep Dive into Setting Fees That Ensure Our Profitability and Business Growth
Selling the Couch
How to Maximize Your Profitable Business
When you're calculating the bottom line number for what you need, we're going to multiply a percentage of the profit that you want your business to make. So oftentimes we don't think about our business being profitable. And if people want to build a practice and then be able to sell it later on, say, before they tire, which a lot of people do,. Then we need to have that the the financial data demonstrating that this business is profitable.
Today’s topic is one that puzzles many clinicians and leaves us feeling uncomfortable. We’ve approached setting fees on past episodes, but today we are diving deeper into setting fees that ensure our profitability. How do we make sure our business is growing, thriving, and allowing for future expansion? Join us as we learn more with today’s guest.
Reina Lombardi is an art therapist based in Florida. She has a wealth of experience and knowledge about debt, building a business, and setting fees. Reina understands the many challenges in owning a private practice, and she knows that we need to be profitable. I hope our conversation gives you a practical perspective on using objective data, and not emotions, to figure out where your numbers should be.
RESOURCES TO GUIDE YOUR BUSINESS JOURNEY
Disclosures: Please note that all opinions are my own and based on my personal experience. Sponsors are acknowledged. Some links in the description are affiliate links where if you click on one of the product links, I’ll receive a commission at no additional cost to you. I use these funds to continue to create helpful content to serve our field. As an Amazon Associate, I earn a small commission from qualifying purchases.
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Hi. I'm Melvin. I'm a psychologist (PhD), entrepreneur, and online creator living in Philadelphia, PA.
In 2014, I began to think about how to use the therapy skills we learn in grad school, and in our clinical work into different realms (e.g., podcasting, consulting, online course creation, etc).
This allows us to serve others on larger scales while diversifying our income beyond 1 to 1 work.
I make podcasts and videos about business, tech, productivity, and lessons I'm learning from becoming the CEO of a lean, mean 5 person 100% remote team (we're not really mean..it just rhymed =P).
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