Private Practice Success Newsletter

Jan 2008, by Lynn Grodzki, LCSW, MCC (Master Certified Coach)
www.privatepracticesuccess.com

It’s that time of year when the main topic of every coaching call I have with clients is: What is your plan for 2008? Having a plan makes business so much easier. Let me take you through the basic steps so you can feel ready for the New Year. And...if you are ready for some structured coaching, my new basic and advanced Strong Start teleclasses start up in early February. See the section below for more information.

Your 2008 Business Plan

The ups and downs of a private practice can feel random and out of our control, like sailing a boat on choppy seas. But seasoned sailors know how to set direction and control those aspects one can, to respond rather than react to the ups and downs of the waves.

Your business plan for 2008 is you way of setting direction. It can offer you a sense of purpose, control, and accountability even though we are in an up and down market.

Every phone call I have with coaching clients at this time of year ends up being a similar business planning discussion. Let's follow the planning agenda I use with my coaching clients, so that you can understand the basics as you determine your goals for 2008.

"If we keep doing what we're doing, we're going to keep getting what we're getting." Stephen R. Covey

The first step in planning is to look back at 2007. This looking back is a process of gathering objective data so that you can analyze what happened and how to move forward towards your goals.

But it is also a process of honoring the intangibles – your feelings, thoughts, wishes and dreams about 2007, so that you so you can bring all of your emotional intelligence to the planning table.

Here are the questions I ask others, that you can ask yourself to look back to 2007:

What did I accomplish in my practice last year?
What went well? What am I proudest of? What did I learn? How did I grow?
What missed the mark? Where did my limitations occur? What did I learn? How will I grow?
What did I earn?
What did I spend?
What was my annual overall profit or loss?
Which specific services yielded the most profit? The least?
How many client hours did I work? How many new clients did I attract? How long did they stay?
What is my attrition rate of old clients leaving?
What are the trends I can spot in my practice based on the data: busy times, slow downs, markets that look promising, unprofitable services, changes in expenditures?

If some of these looking back questions were hard to answer because you don’t track financial data or client data – this is one of your goals for 2008. Find and use a tracking system this year (preferably software-driven such as Quickbooks and excel spreadsheets of clients) to help you create monthly and annual reports that will help you have all the answers to the above questions at the end when its time to plan for 2009.

"You can't overestimate the need to plan and prepare. In most of the mistakes I've made, there has been this common theme of inadequate planning beforehand. You really can't over-prepare in business!" Chris Corrigan

Now its time to look ahead by setting a vision and goals. Your 2008 vision and goals needs to be a written, living document. I want you to have this in print where you can look at it and adapt or amend it as life unfolds for 2008. Refer back to this plan each month and update it with real-life feedback, so that you and your practice stay flexible and responsive to what occurs.

Questions to ask yourself to create your plan:

What is my vision (what I see that is possible), purpose (who I need to become to make the vision work) and mission (actual steps I can take) for 2008.
What are my top ten goals for the year?
As I write each goal, what are the monthly action steps that will help me further the goal?
What do I want/need to earn?
What services do I want to promote?
How do I want to build my reputation or connection within my community?
What kinds of training or business development need to occur this year?
What are the major markers that will signal me that I am moving in the right direction (revenue, client count, contracts, new opportunities, additional referral sources, other specific achievements I can track over time?)
What are my personal goals (example: goals involving family, fun, faith, finances) for the year and how do my practice goals support them?

This final question about personal goals is an important step in planning. Align and integrate your life and business goals to insure your success and balance.

"Work is love made visible. And if you cannot work with love but only with distaste, it is better that you should leave your work and sit at the gate of the temple and take alms of those who work with joy." Kahlil Gibran

Your final step is your commitment to this plan. The plan won’t happen by magic. Just writing it and wishing for it will not be enough. You need to be willing and glad to work this plan, as a way of loving your practice.

Questions to ask yourself to commit to your plan:

Who will I be accountable to (besides myself) to accomplishing my goals?
Who will I talk to and check in with to support my progress?
When will I schedule my CEO time – the hour or so each week when I schedule time to work on the business, not just in the business – to plan, track, think, strategize for each month?
How will I organize my office, calendar, files, and environment to help me stay focused and on track with my plan and goals?
How (and with who) will I celebrate my wins, and who will help me get past my rejections and losses?

The easy way to succeed in business is with ample support. Make 2008 a time to find all the support you need.

I hope I can be part of your support team through this newsletter, the teleclasses, some coaching sessions, and through the pages of my books. My best to you for all your endeavors in 2008.

Upcoming Teleclasses

Basic Strong Start Teleclass

This is my signature 4 month teleclass, which can help you reach your practice goals faster and with more support than you can do alone. We cover the first 6 chapters of my workbook and MORE! Participants rave about the progress they make, the shifts they go through to be more entrepreneurial, and the long-lasting support they develop with other class members. Only $45 per hour for 12 hours total of practice-building supervision and coaching. To choose from the Monday or Wednesday class schedule, see the dates, logistics, curriculum, and to register, please go to:
www.strongstartclasses.com

Advanced Strong Start Teleclass

This is the teleclass for those who have taken the Basic Strong Start or attended my workshops and want to go further. We cover the final 6 chapters of my workbook and MORE! Only $45 per hour for 12 hours total of practice-building supervision and coaching. To see the class dates, logistics, schedule, curriculum, and to register, please go to:
www.strongstartclasses.com

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Private Practice SOS - Ebook By Lynn Grodzki (2007) Solutions and strategies for staying afloat in an up and down market

Books by Lynn Grodzki, published by WW Norton. To order, click on each book.

	The Business and Practice of Coaching By Lynn Grodzki and Wendy Allen (2005) Reviewed by author Richard Leider as "Nothing less than a radical rethinking of the essentials of building a coaching practice. A must read for all coaches, master and novice alike."
	Building Your Ideal Private Practice By Lynn Grodzki (2000) The best-selling guide to what you need to do and who you need to be in order to have a highly profitable, personally satisfying private practice. Often called the "private practice bible" this book has become a resource for tens of thousands of your colleagues.
	The New Private Practice:Therapist-Coaches Share Stories, Strategies and Advice Edited by Lynn Grodzki (2002) A groundbreaking look at the profession of coaching through the eyes of 16 successful therapist-coaches who tell you how to become a coach, what to charge, and show you how they coach their clients.
	12 Months to Your Ideal Private Practice: A Workbook By Lynn Grodzki (2003) This planned, motivational workbook will help you build the practice you desire. The workbook incorporates fresh ideas, new exercises, further skill sets and much more to give you a direct experience of being carefully coached by Lynn, month-by-month, for a full year.

More next time,

lynn@privatepracticesuccess.com
See the website for additional articles, information about individual coaching, and upcoming classes.