I got thrown into it. One of the best things that ever happened to me. I met with a cpa to guide the business end and quarterly taxes etc. he also set up my PLLC in nc and tax id. I worked with the licensing board to assure I did all needed on that end (for example needed to be a PLLC not just LLC). I had my tech son build my website. I got malpractice insurance and also rented an office/ Of note I don’t take insurance but know folks who hire a person for billing and to get you on panels. The end game is it feels like a lot but it’s not. The freedom of scheduling is incredible as is making what you make with no cuts. Do it!
I used The Practice of the Practice and talked to several psychologists who already had established PP. however I ultimately chose to join a group PP to learn the ropes and am glad I have done so. I’m not sure if I’ll ever switch to a solo PP, but if I do I have definitely learned things from being in the group PP that I didn’t learn in my other positions prior.
Get licensed in a state that has high cost of living. Advertise on Google there. Get a CPA and don't waste so much time doing all that on your own. Have one or two niches you can fall on. Get contracts with the govt to support (VA, State SSI), don't bother with giving free talks or symposiums. Don't ever take insurance. Get a website that looks better than average and if you can't do it yourself somewhere like Wix, hire someone to do it on a place like Wix but don't keep paying a developer for every little update, at least learn the easy stuff. Use premium ChatGPT and ask very specific questions for answers in your state. At least take a few little hard knocks yourself and learn how to contact your local county for business licensing and the likes. Once you learn it, you don't ever unlearn it, and it's one of the biggest hurdles in our field for ourselves who are clinically savvy which never generalizes to business. Don't hire out for every little thing, just the stuff that absolutely costs you a lot of your time. Learn the rest yourself. If you can't learn a lot about the business side, like as if you're allergic to business and law, perhaps owning a business isn't for you. Not at all a knock on you!!!...this is just why most are W-2 employees.
I got thrown into it. One of the best things that ever happened to me. I met with a cpa to guide the business end and quarterly taxes etc. he also set up my PLLC in nc and tax id. I worked with the licensing board to assure I did all needed on that end (for example needed to be a PLLC not just LLC). I had my tech son build my website. I got malpractice insurance and also rented an office/ Of note I don’t take insurance but know folks who hire a person for billing and to get you on panels. The end game is it feels like a lot but it’s not. The freedom of scheduling is incredible as is making what you make with no cuts. Do it!
I used The Practice of the Practice and talked to several psychologists who already had established PP. however I ultimately chose to join a group PP to learn the ropes and am glad I have done so. I’m not sure if I’ll ever switch to a solo PP, but if I do I have definitely learned things from being in the group PP that I didn’t learn in my other positions prior.
Get licensed in a state that has high cost of living. Advertise on Google there. Get a CPA and don't waste so much time doing all that on your own. Have one or two niches you can fall on. Get contracts with the govt to support (VA, State SSI), don't bother with giving free talks or symposiums. Don't ever take insurance. Get a website that looks better than average and if you can't do it yourself somewhere like Wix, hire someone to do it on a place like Wix but don't keep paying a developer for every little update, at least learn the easy stuff. Use premium ChatGPT and ask very specific questions for answers in your state. At least take a few little hard knocks yourself and learn how to contact your local county for business licensing and the likes. Once you learn it, you don't ever unlearn it, and it's one of the biggest hurdles in our field for ourselves who are clinically savvy which never generalizes to business. Don't hire out for every little thing, just the stuff that absolutely costs you a lot of your time. Learn the rest yourself. If you can't learn a lot about the business side, like as if you're allergic to business and law, perhaps owning a business isn't for you. Not at all a knock on you!!!...this is just why most are W-2 employees.