It is a massive decision to open your own therapy practice and finally go solo.
The Australian Bureau of Statistics reports that 60% of businesses will fail in the first 3 years of startup. With this alone to consider, it is understandable why the dream for some therapists will never come to fruition.
There are many roadblocks that can stop a therapy business from getting up and running before that couch has even been delivered to the new office.
Here are 4 big roadblocks that can stop therapists before they have even started their counselling business.
1. Lack of Business Skills or Acumen
Most therapists are highly trained and skilled in the areas of therapy. However they do not have business experience.
Business is a totally new ball game and combining therapy and business to achieve success is an interesting mix.
Businesses take a lot of work, it is not a set and forget situation. Practice owners must be working in their business as the therapist, whilst working on the business as the business owner. That is certainly a lot of hats to wear.
2. The Dream Killers
It is almost guaranteed that there will be someone who is not supportive of your idea of starting your own practice.
There are many reasons that this can happen but in our experience, there is always at least one dream killer (as we have fondly named them).
It is the impact that you let this have on you, as to whether it is or is not a roadblock to starting your counselling business.
3. Not Enough Working Capital
Money is a roadblock for therapists who want to open a business.
Without a proper set of financial forecasts for a therapy practice, it is difficult to know if and when the therapy practice will make money and be financially viable and sustainable.
The initial financial outlay of setting up a practice can seem large when there is no cash flow projections to run alongside it.
4. Fear of Failure
Fear is perhaps the biggest player when it comes to taking a risk in our lives – and opening a Business is a huge risk.
But as Paulo Coelho said –
Whatever the roadblock to opening your own counselling business, there will be solutions to overcoming all of them.
It may take some nous and bravery, but just go for it. As these are the traits that you will need as a new business owner anyhow.
If you would like assistance in overcoming your roadblocks and launching your own counselling business, you can find out if you are eligible for our program here –