One of my biggest problems was maintaining persistence while getting all the practical details of a new practice set up, such as forms, scheduling, signage, business cards, website, filing systems, advertising, signing on to insurance panels, furniture and decor for my office and software. Ultimately, I took it one step at a time and got everything done to my satisfaction and 12 years later, many of the decisions I made still make my life easier on a daily basis. Also, it took some time for me to approach fee collection with the appropriate degree of diligence because I’d always worked for government agencies or been in a trainee status before, where collecting money from clients wasn’t a concern.

You have to get comfortable with the fact that you are first and foremost a small business. Give all the details of running a small business the attention they are due. You must advertise, because no one will just come knocking on your door because you “hung out a shingle.” Take accounting and book keeping seriously. When it comes time to file your taxes you will be very glad you did. Speaking of taxes, consider doing your own taxes. I use Turbotax and doing my own tax return really keeps me aware of cash flow and can help me make important decisions such as major purchases or whether it makes sense to have a home office (for me, it does). I also recommend being meticulously honest in all your financial dealings. Take a hard look at whether you have the capitol necessary to get your business up and running and pay your personal bills and student loan costs while you do it. Many people who would like to go into private practice, simply can’t afford to do so because they don’t have the start up capitol and small business loans to help are hard to come by. However, you can apply for a personal line of credit to tide you over major purchases or cash flow crunches.

Also, NETWORK NETWORK NETWORK so other professionals (not just mental health practitioners) know you are there. Carry business cards everywhere. Take the time to design a nice card on good stock and hand them out freely. Let your medical doctors, dentist, accountant, lawyer, hair dresser and any other professional you have routine contact with know about your practice. I did a rack card on heavy glossy card stock and magnets that I share along with my business cards.Lastly, give away as much as you can for free to get your name out. Give talks for small organizations, medical practices, houses of worship and schools. Participate in charity events and wellness and health fairs, particularly ones with a mental health and wellness focus.Don’t see other mental health practitioners as the competition. In all but the most saturated locations, there’s enough work for all of us. Find a supervision group or mentor to help you. Also, it’s useful to find a niche or area of expertise that will help you stand out from the pack.

You are smart, organized, energetic and competent. You can do it. Define your version of success and connect the dots from where you are to where you want to be. Be passionate and creative and don’t let set-backs steal your confidence. Be realistic, but have a dream in mind too. Aim high!

We need to be proactive about the politics of insurance, fee-setting and the private practitioner’s role in health care homes and as a respected member of a patient’s interdisciplinary health care team. While we have to be responsive to the changing health care environment, we have to be careful not to let other professions, who may not understand exactly what we do, define us. Also, the costs of running a practice are getting higher and the fees we are paid, especially early in our careers are getting lower. Our industry has to help us remain financially viable, especially for new grads with student loan burdens. With the rise of telemental health services which make it easy to practice across state lines, it is critical that we work towards national licensure (like drivers licenses..issued in our state of residence) that allow us to practice in any state.

I’ve been in private practice since 2002, after spending 13 years working for the Department of Veterans Affairs and a 3 year position as a project director for a psychologist test publisher. I got my PhD in Clinical Psychology from the University of Southern California when I was 26 years old. My specialty areas include health and rehabilitation psychology and working with highly gifted and talented individuals. Since I now live in a small town, I also work with a lot of teens and do a lot of marriage counseling. in addition to mood disorders and anxiety. I’m a techie so I’ve always aimed to be at the cutting edge of the application of the use of the latest technology in our profession. Currently, I do a lot of online work. In May 2012, I closed up my private practice in San Antonio, resigned from the Board of the Texas Psychological Association and started from scratch in Colorado’s Vail Valley. And what an adventure it’s been! I figured if I was able to do it once, I was certainly able to do it from scratch again. I’m glad I did!