How will you choose your Investment?

When talking to private practice coaching clients, I often hear, “That is too much money.” or “Is that worth the investment?” I encourage clients to look at the short term investment and long term investment value of their plans. For many, folks look at the short term, which is often dishing out money they can use elsewhere, but these investment are critical to build a thriving practice that will produce a significant return on investment. Some examples of investments are below:

Website: Pour your heart and soul into your website. This gives you an advantage over others who might not invested in a website. This is your chance to shine to your prospective clients. You don’t need to spend a ton of money hiring an SEO company or designer to do it all. Many folks choose to do it themselves, however, invest in a good Domain Name and design format.

Advertisement: Look to invest in multiple streams of advertisement. This can be online directories such as Psychology Today, GoodTherapy, or other sites who can generate referrals for your practice. Typically, printed ads don’t do super well in private practice so I advise clients to avoid costly newspaper ads or other printed ads as I have not heard they generate a good return on investment. Look at others avenues such as Facebook ads, Google Adwords (please do your research on this), and marketing materials such as brochures, business cards, rack cards, post cards, etc to connect with others in your area.

Coaching: I can’t tell you how many times I have heard others saying that they cannot afford coaching. Coaching is a critical investment in your business and will aid you in developing the skill set needed to drive your business forward. Do your research before hiring a coach. Some basic questions, “Can we work together well?” “Do they possess the business skills I am looking for?” You want to look for someone who has walked the walk–not just talked the talk. Many coaches are great at what they do, however, they have never opened a private practice or established a thriving business other than coaching others who do.

I am curious to hear what other INVESTMENTS you have made to your business? Regrets? Successes? Share them below!