by Lynn Grodzki, LCSW, MCC (Private Practice Success Newsletter, April 2010)
______________________________________________________________
In last month’s newsletter, we examined the concept of leverage. Leverage, at its purest sense, means using something that multiples the outcome of your efforts – as though you were using a lever to lift a heavy rock.
For those in a private practice, leverage implies that you know how to do a lot with a little.
Today, many of us in practice either need more clients or more ideal (better) clients. But finding good clients often takes significant time, energy, and expense.
This is a good place to use leveraging, so that you can find clients with the least expense possible.
Most marketing consultants think that the best strategies for finding ideal clients are ones that you may already be using: the Internet and Networking. But are you leveraging these solid strategies for finding clients? (If not, I will be showing you how to leverage these two traditional strategies in the May and June newsletters.)
But in order to use these strategies, there is one piece of preparation I need you to consider first. I want you to define your Strategic Focus, the “sweet spot” of your practice.
If you play tennis, you may notice that there is a spot in the center of the tennis racket, the sweet spot, which can return the ball furthest, with the least effort from you. The term is now used in other fields to indicate any solution where a combination of factors produce a favored outcome.
Your practice can have a sweet spot – your strategic focus — that represents the best balance of your business. Finding your strategic focus is the first step before developing your leveraged marketing plan.
Jim Collins, author of Good to Great (2001), offers a simple exercise to help you find the strategic focus for a small business. I adapted his exercise in my new book (see below) to help my readers set a clear, quick, and powerful vision for their practices during a time of economic uncertainty.
It works by clarifying what you do best, what you are known for, along with what is most profitable. Your strategic focus helps you to keep it simple by doing one big thing well, as you ride out a difficult market.
1. Draw three equal-sized circles that overlap or intersect with a common center: a Venn diagram.
2. Assign colors or letters to each circle to keep them separate
Identify each circle by color and purpose:
Circle A is the soul of your practice: Inside this circle, list those services that you’re passionate about offering.
Circle B contains your brand: Inside this circle, list the aspects of your practice that connote your expertise, reputation and excellence.
Circle C is your economic engine: Inside this circle, list the services or products that are consistently profitable and generative.
3. The point where the three circles intercept — where passion, brand and profitability overlap, will become the new strategic focus of your business.
Now let’s talk about your results.
This simple exercise, getting focused by prioritizing the 3 key aspects of your existing practice and finding the focus for the future, can force a business owner to face reality and make needed changes.
By finding your sweet spot (your strategic focus), you can:
Focusing your practice is a process. Take the time you need.
But …if you are ready to do more marketing to grow your business, take this step first and get focused.
Crisis-Proof Your Practice: How to Survive and Thrive in an Uncertain Economy by Lynn Grodzki, published by WW Norton 2009. Lynn’s newest book is one you cannot afford to be without! Order today and to become more profitable and purposeful in these difficult times!
Listen to Lynn talking about the book in an audio interview with Psychjourney Podcasts by clicking here!
Buy Book Now
__________________________
Midwest Book Review
“Crisis-Proof Your Practice: How to Survive and Thrive in an Uncertain Economy offers psychotherapists solid business advice on how to build and preserve a private practice during uncertain economic times. From a 4-step process for crisis-proofing a practice, to what to charge and how to save, these guidelines are key to success!”
Lynn Grodzki, LCSW, MCC is a senior Licensed Clinical Social Worker and a Master Certified Coach. She is a therapist, business coach, speaker and author.
Lynn can show you how to start up or rebuild your private practice or improve your small business, non-profit, or other work situation.
She works with social workers, counselors, coaches, consultants, healers, and other service-oriented professionals, managers, and executives.
Free! Subscribe below to Lynn’s monthly email newsletter and read essential strategies and advice about private practice marketing, money management, generating referrals and more.
Each month, Lynn sends you a new article written in her signature style, full of motivation and inspiration for those in private practice.
Over 8000 readers receive her free, monthly email newsletter! Join this vibrant community by signing up below. Your email information will never be sold to any other organization.
Will your psychotherapy private practice, coaching or consulting business endure in this economy? It’s tough right now. Do you know how to find the hidden opportunities that exist or how to be more profitable? With my books, my newsletter, or individual coaching, I can support your success, the way I have helped thousands of your colleagues. Take the next step and email or call me today!