“Whether we’re facing a summer or winter/holiday slump, all practice owners should think about ways to diversify their income. This is key to having consistent income and a sustainable business model.
My personal favorite income stream for mental health providers is PASSIVE INCOME!
Let’s face it, we work HARD, and we bear witness to some difficult challenges year ‘round. This is both a privilege and another thing that we must unpack so that we can continue to do good work. The reality is that there is still a shortage of mental health professionals, and yet, we have knowledge and skills that need to be shared on a wider, global scale. There aren’t enough hours in the day to do all the things and reach all who we are trained to serve.
Also, let’s be real: most of us have heard over and over that “you don’t enter this field to make money.” Many of us interpret this in our own ways and have maybe even heard, “you can’tmake money in this field.” But at the end of the day, that is inherently false. In fact, it is so important that we leverage our knowledge and skills to reach more people while earning residual income. Our clinical skills are needed wherever there are people. I often tell members of my Global Leaders program that our skills are transferable and should be leveraged to serve on a broader scale.”
Dr. Ajita Robinson was recently featured on the TherapyNotes blog, writing about 5 ideas to diversify your income in private practice.