Are you frustrated by the silence that follows your innovative ideas?

In this episode of "Beyond the Session with Aisha," discover the crucial, yet familiar, element often overlooked when creating multiple revenue streams in your mental health practice.

>>>

Let's connect on LinkedIn so that you can join me for the next LIVE Q&A each week on Wednesdays.

>>

Ready to reach your revenue goals, join the Strategic Incubator and ongoing accountability and individual coaching.

Let's say you're tired of offering the same old therapy week after week,

2

month after month, year after year.

3

And then you have a bright idea

to create something new that

4

will increase your revenue.

5

You figure out all the details, the price,

the ideal client, even the technology,

6

everything is ironed out and in its

place for you to hit the ground running.

7

You prepared yourself for the

big reveal and then crickets.

8

No one.

9

And I mean, no one raises their

hand and says, yes, please.

10

I'd like to sign up for your intuitive

eating workshop or absolutely.

11

I can't wait to start your new grief group

or tell me exactly how soon I can get my

12

hands on your new book about managing OCD.

13

What happened if you're ready to create

multiple streams of revenue within your

14

private practice this year and you don't

tackle this thing first, you will not

15

hit the revenue goals you need and want.

16

On today's episode of beyond the session

with Ayesha, the business podcast that

17

teaches you how to create a premium mental

health business and ethically blend your

18

clinical skills with entrepreneurship.

19

You will learn how there's more

to creating multiple revenue

20

streams than having a great idea.

21

I'm your host Ayesha, a licensed

mental health therapist and strategic

22

consultant for mental health industry

leaders who are ready to compassionately

23

disrupt the mental health industry,

making it more accessible for clients

24

and more sustainable for clinicians.

25

Building a business from the ground

up is hard, and I'm here to infuse

26

some bliss into your role as a founder

and mental health industry leader.

27

This process can be overwhelming

at times, and feeling overwhelmed

28

does not automatically mean

that you're bad at business.

29

Sometimes that is just

the name of the game.

30

But if you notice that you're feeling

so overwhelmed that you're unable

31

to take action, there's one major

culprit that is often to blame.

32

You're hiding so much so that you're

hurting your chances of reaching the

33

revenue goals you want and need and

harming your future clients chances at

34

getting the help they want and need.

35

So let's do a thought experiment,

shall we imagine you're in the market

36

for a new car and you have your

choice narrowed down to two cars.

37

Each are at two different dealerships,

dealership a and dealership B.

38

Both have ample inventory, you're ready

to test drive the vehicles and talk

39

about the features and benefits of both

cars directly with the sales associates.

40

You venture into dealership A and

everything was smooth sailing.

41

You came prepared with your list of

questions, which were answered by

42

the associate with grace and ease.

43

You took the car for a test drive

and were impressed with the features

44

and benefits and the price of the car

was in alignment with your budget.

45

You make them aware that you're planning

to check out one more dealership

46

to help you solidify your decision.

47

You waltz over to dealership B

thrilled at the idea that you'll

48

soon be the owner of a new car.

49

You walk through the aisles of

cars and look at the MSRP, but all

50

the cars are missing a price tag.

51

You find that kind of odd since the last

dealership conveniently listed its prices.

52

But you think to yourself, this car

is so new, they must have forgotten

53

to put the price tag on the car.

54

This car isn't identical to the one

at dealership A, but it feels like a

55

great fit for what you're looking for.

56

You assume that it's probably

around the same cost as the other

57

dealership, give or take a few dollars.

58

All cars in dealerships are

pretty much the same, right?

59

You walk up to the sales associate

and follow a similar flow as

60

you did at the first dealership,

and then you decide this is it.

61

The car that you see yourself

driving around for the next 10 plus

62

years will be from dealership B.

63

You walk inside to chat with the

sales associate so that you can

64

discuss the terms of the agreement

and review the fine print.

65

The sales associate rattles off the

rehearsed spiel about your soon to

66

be new car and your ears perk up when

you hear the total cost of the car.

67

Oh, I didn't realize that

was the cost of the car.

68

I just assumed that since the make and

model were comparable to the dealership

69

down the street that the prices of

your cars would be about the same too.

70

No, our prices are based on

our unique business model.

71

We're aware of what the other

dealerships charge, but we don't

72

base our prices off of their prices.

73

Okay.

74

Well, can you at least explain

why you don't publish your prices?

75

Oh, it's tradition.

76

We don't publish our prices

because we don't want the

77

competition to know what we charge.

78

Okay.

79

Well, that's a bit of a contradiction

to what you just said about basing your

80

prices on your unique business model.

81

But in any event, I'm not the competition.

82

This car is out of my price range.

83

I can't afford it.

84

Is there any room to negotiate?

85

The sales associate looks

at you over their glasses.

86

Well, you said you

wanted a car, didn't you?

87

Frankly, it seems like you need a

car based on how you're carrying on

88

about the state of your current car.

89

If you're really that serious about

being a car owner, you'd take what

90

I'm offering regardless of the price.

91

But since you're not interested

in what we offer and would rather

92

haggle, perhaps you should try

the used car lot down the street.

93

. Sometimes bargain shoppers even

participate in a ride share

94

when their budget is too tight.

95

They're both great alternatives

for people like you.

96

You think to yourself, what

are they talking about?

97

You speak up for yourself and you say,

I'm not in the market for a used car and

98

I'm interested in using a ride share.

99

I wanted to purchase a new

car and I'm here because I'm

100

serious about purchasing a car.

101

I just want to make sure that.

102

I was being a good steward of my finances.

103

I would have never come in here.

104

So my whole afternoon talking with you

and taking the car for a test drive, had

105

I known it was out of my price range,

I knew this was too good to be true.

106

All car dealerships are the

same, just in it for the money.

107

You leave dealership B in such a

tizzy, feeling defeated, completely

108

abandoning the idea that you

found a great car at dealership A.

109

You return home feeling scorned.

110

I'll just stick to what I already have.

111

And scene.

112

Now you're probably thinking,

Aisha, a car is a one time purchase.

113

No one is purchasing a car every day.

114

True.

115

However, how many people do you know

are paying a lump sum of cash for a car?

116

Most people are financing a

car for three to five years.

117

And according to lending tree.

118

com, the average cost of a

monthly car payment is 563.

119

If we break that down into weekly and

bi weekly payments, that's roughly

120

140 a week or 280 every other week,

that sounds very similar to how

121

much some therapy sessions costs.

122

And over the course of three to

five years, that's a significant

123

investment of time and money.

124

So now that I've painted this picture

for you and have your full attention,

125

let's have a serious talk about.

126

Why hiding is hurting your practice

and potentially impacting the

127

therapy industry as a whole.

128

You will notice in this example, the key

thing that is being hidden is your price.

129

And if you're hiding your prices,

regardless if you're offering therapy

130

or you're expanding into a different

revenue stream like writing a book,

131

hosting a workshop, it's so important

for you to keep your prices up front

132

and center and very transparent.

133

You have to stop assuming just

because people want to know the

134

cost does not mean that they're not

serious about what you're offering.

135

This is a very cynical and toxic way of

viewing people who are seeking support.

136

There are many indicators of whether

a potential or current client is

137

serious about therapy or any other

therapeutic service or product that

138

you're offering and asking about

the price is not an indicator of

139

whether or not they are serious.

140

I make every effort not to throw shoulds

and buts around, but when it comes

141

to health care, therapy should not

be a one size fits all, and everyone

142

should have access to options to

high quality care that's in alignment

143

with their budget and lifestyle.

144

Like the sales associate, if you assume

that your current or future client is

145

looking for budget friendly options, when

they share with you their reactions to

146

your mystical pricing, without asking them

questions first, this is inappropriate.

147

If you are currently in a position

where your prices are not publicly

148

open and out there, or you have therapy

consultations ready on your calendar,

149

and you have not shared your prices

on your website or your client inquiry

150

form, I need you to do the following

151

let's imagine that you tell

them how much therapy costs and

152

they're like, oh, my goodness.

153

The next thing you should do is ask the

client what they're hoping to spend on

154

a weekly or monthly basis on therapy I

do not want you to get into the habit

155

of negotiating your rates because this

is a very uncomfortable situation for

156

the client and then they're having to

make financial decisions off the cuff.

157

It's more valuable for them to

have to think through whether or

158

not they can afford the services.

159

The investment of time, energy and

effort, attention, focus, and money

160

before they get on the call with you.

161

If you don't give them that opportunity,

this could be considered sleazy sales

162

and specifically high pressure sales.

163

And we do not want someone

to feel pressured or strongly

164

persuaded into doing therapy.

165

We want them to come to the consultation

saying, yes, I want to do this.

166

The same is true for any other.

167

Product or service that you're expanding

into you want people to feel welcomed

168

into making that decision for themselves.

169

That's what we mean by self

determination and self efficacy.

170

So you want to mimic that in

the sales process as well.

171

When you are able to make

information based suggestions.

172

This will take you so much further

than making another assumption

173

about their value of money.

174

Another thing to keep in

mind is your competition.

175

So frankly, I don't think you should care

how much somebody else is charging for

176

therapy because it has zero impact on

how you cover your business expenses and

177

how you will reach your revenue goals.

178

Yes, it's true.

179

You have competition.

180

I don't want you to break out

into a heavy sweat over that.

181

You are not the only show in town.

182

It'd be foolish to assume that you

wouldn't have competition, especially

183

in a capitalistic society, right?

184

It thrives off of competition.

185

So it's most likely true.

186

Your quote unquote competition has

already scoped you out in such a way

187

that they are doing market research.

188

And we talk about you doing

market research when you

189

created your business plan.

190

Now, if you are starting to break

out in the hives and say, I used

191

to, I never created a business

plan for my private practice.

192

It's not too late.

193

You can always create a business plan

for your practice and right past wrongs.

194

If you are so deep in your

private practice, we're just

195

like, what is the point?

196

I can tell you that having a very

strategic plan on how you are going

197

to generate revenue, but also generate

profits, how you are marketing and what

198

is your sales strategy is super important.

199

We dive into these details in the

strategic incubator where you are getting

200

individual coaching around what is your

specific strategy for your specific.

201

Business and we're breaking

this down based on the

202

services that you're offering.

203

Click the link in the show

notes to learn more details

204

about the strategic incubator.

205

Now, I just want to hit this

point home about your competition.

206

You are wasting your time.

207

If you are more focused on what your

competition is potentially doing.

208

Then focusing on your own business, focus

on the people that you want to serve.

209

Through your practice.

210

And leave the market research

for a particular phase of

211

your strategic planning.

212

If you focus on this too much on a daily,

weekly, even monthly basis, you are going

213

to again waste a lot of time and energy on

what other people are doing when you can

214

use that energy doing something else more.

215

Useful

216

if you're not giving your potential

clients all the information they need

217

to know, like and trust you there's no

reason for them to commit their valuable

218

resources of time and money to invest

in anything that you are offering them.

219

So do not waste your time.

220

And doing all of this to

get nothing in return.

221

And this is the main reason why

therapists hire me as a coach, because

222

they have big revenue goals and

they've tried to make it happen on

223

their own with little to no success.

224

If you want to get a taste of what it's

like to be coached by me, tune into my

225

live Q and A's on LinkedIn and grab your

chance to ask me questions about ethical

226

marketing, sincere sales and profitable

business development strategies.

227

My goal is to host these events every

Wednesday for the next 90 days or so.

228

So if you have a question that you

want me to answer, click the link

229

in the show notes to connect with

me on LinkedIn, and then you'll get

230

notifications about the dates and

specific times that I'm going live.

231

So the moral of the story is stop hiding

and specifically stop hiding your prices.

232

Now in Thursday's episode, we're

going to talk about some more

233

things that you may be hiding

234

if you've enjoyed this episode of

beyond the session with Aisha, just

235

let me know by sending over a five

star rating or sharing this episode

236

link with a friend until next time.

237

Take care.

238

Talk soon and keep thriving.