An introduction to the Pillars

The Private Practice Hub is built around five information ‘pillars’. Each one is vital to building a successful and thriving therapy practice.

Your business plan underpins these pillars. It will help you clarify your objectives and set out on the path to achieve them.

A good business plan is also a way to spot problems before they happen and to identify costs you didn’t consider. It enables you to go into business with your eyes open, confident that you can manage your clients (and your own time) professionally and profitably.

Finance

One of the most common questions we get asked by new private practitioners is ‘how much should I charge?’ The answer to this, plus many other finance-related questions you might have are answered in this section. 

1. Creating a business plan

2. The importance of pricing

It’s important to be flexible when running a business and knowing how much to charge can define whether your business flies or stalls.

3. Business accounting basics

Learn more about how to streamline your accountancy processes, get on top of invoicing, VAT, record-keeping and other aspects of financial management.

4. Essential services

Why hiring an accountant or a bookkeeper might be one of the best decisions you ever make.

5. Business structure

How should your business operate? We look at self employment, full-time employment, limited companies and partnerships.

Marketing

How do you get more clients and referrals? You need to get the word out about your business. You need to market yourself in the right places and to the right people using the right tools. 

1.Market research

Knowing your target market is a vital first step in any marketing strategy. Don’t start by thinking about what services you can provide, think about what problems you can solve...

2. Branding

Brand image is important for any business. Why should somebody choose you? What makes you stand out? What makes you different or unique?

3. Marketing basics

Learn about the importance of networking and how to get started in marketing using emails, advertorials, PR, online and offline marketing tactics.

4. Marketing materials

Tips and advice about business cards, stationery, leaflets and building a website.

5. Marketing to the NHS

How to promote your services to the NHS.

Professional issues

There are numerous professional issues that can impact you and your business. Here’s what we’ve learned from running a private practice, from risk assessment to efficient record-keeping. 

1. Minimising risk

Understand risk assessment provision for an adverse event and why you might need to think about creating some written policies.

2. Quality

The importance of outcome measurement and satisfaction surveys.

3. Data protection

Tips for safe and efficient record-keeping.

4. Terms and conditions

How to draw up a business contract and why you need to define your business terms and conditions, including cancellations and fees.

Administration

Do you feel bogged down by paperwork? Does the prospect of growing your business seem like too much work? This Administration section is designed to help you streamline the way you run your business and successfully plan for the future. 

1. Finding the right premises

Understand the costs involved, the importance of location and whether you should buy, rent or work from home.

2. Office administration

How to deal with all the paperwork and be more efficient.

3. Buying the right equipment

Invest in the right computer hardware, software, telephones and other useful equipment to run your business efficiently.

4. Essential services

Why you need professional and business insurance; the importance of document management.

Human resources

This section considers YOU as the most important human resource for your business. It looks at your continuing professional development, your skills, processes and time management. This section also gives you advice about hiring extra staff, like an office assistant. 

1. Continuing Professional Development (CPD)

Keep on top of your training and accreditations.

2.Well being

Learn about the importance of networking for support and healthy ways to manage your time and your caseload.

3. Essential services

Work out what you’re not good at and then outsource it to a service or an office assistant.

4. Employment and legal

Ensure you have job descriptions and employment contracts for any staff and access to knowledge of employment law. This section also features tips for finding and interviewing applicants and for handling unsolicited job applicants.

 

Private Practice Hub Limited is an Introducer Appointed Representative of Balens Limited, Bridge House, Portland Road, Malvern, Worcestershire, WR14 2TA, who are authorised and regulated by the Financial Conduct Authority.