The Business of Practice blog series is where is where I share thoughts, ideas, and resources about the business of private practice. Thank you for stopping by and I look forward to helping you turn your practice development dreams in to small business reality.
In the last post I shared my “glass ceiling” moment and when the idea that I was going to start a private practice became real to me. In today’s post I share some of the practical steps I took to set-up my practice.
Numbers & Paperwork Oh My!
Next, I set about getting all of my numbers. My binder told me that I needed to make sure I had liability insurance and then something called NPI and an EIN numbers. I wasn’t quite sure what these were or why I needed them. Despite this, I went ahead and found the application forms online and filled them out and got my numbers. I was required to obtain liability insurance when I was doing my internship in school, so I didn’t need to apply for new coverage.
I also had to figure out what I was going to call my new business. I was really focused on starting my practice with as little money as possible. My binder told me that a sole-proprietorship was the quickest and least expensive way to do this so that’s the route I chose. I did a lot of writing to figure out a business name. I wanted something that could grow with me and also explained what I did. I talked to friends, family, & colleagues to solicit feedback. I settled on something that that felt like a good fit for me and would allow for growth. 4+ years in and I still feel good about my chosen business name. Which based on how little I knew when I started was really quite lucky!
Next I went about working on my paperwork. Again my binder came in handy when it came to figuring out what forms I needed to make sure I had. I was also able to modify forms I used during my internship year at the private practice, which was incredibly helpful. I also talked to others to get feedback, checked with my code of ethics and did a lot of editing and rereading to make sure that I was covering everything. I have had a lot of administrative experience with creating forms and procedures so found this part of the process quite enjoyable. I know, weird right?!
The real fun came when I got to work on my website. I am an artist as well, so am always looking for ways to express myself creatively. In a previous position I had the opportunity to design a website from scratch; so knew I would be able to tackle this task on my own. Again, a great way to save money. Because this was a new venture I looked for the most cost effective ways to do this. I decided to purchase my domain name but create the site on a free platform. I didn’t have a clear identify yet as a business, so I decided to keep the site very simple. Clear content, consistent look, and professional. I was very protective of my new business so only sought feedback from friends, family, & colleagues who were both supportive & would give me honest feedback.
Do You Have Questions?
Have you been thinking about starting a private practice, but have questions about how to get started? Please share your questions in the comments section below and I’ll be happy to answer them on the free upcoming Q & A call.
Ways to Connect
I want to invite you RSVP for the free Private Practice Development Q & A tele-seminar, where I will be answering your questions about how to get started in private practice. The tele-seminar will be held on April 17, 2015 from 12-1 PM (ET). Even if you are unable to attend the call live it’s important to sign-up, as a recording of the call will be provided to everyone who has registered.
Don’t forget to come back again next week, where I will continue to share my private practice development story.