How to Create a One Page Business Plan for Therapists

If you are running a private practice, you are running a business and are considered an entrepreneur. As an entrepreneur is it likely that you’ve heard of a business plan. If you haven’t, no worries, I’ve got a lot of helpful information for you in this post. If you have, you may be questioning if it is absolutely necessary if you need on or not for your business and maybe how to create one. You are just in luck, in this post I’m going to explain what you need to know and how to create a one page business plan.

What is a Business Plan

A business plan is like a guide or a road map for your business (<— sounds like a treatment plan for a business). They can take on many forms from formal to simplistic. In this post we are going to focus on a simplistic business plan. A plan can include your mission statement, marketing strategy, and major milestones. It’s a living document that is designed to be revised and updated as your business grows.

Does a private practice need a business plan?

In some cases yes, your private practice may need a business plan. Typically if you are seeking a business loan, the bank may request a business plan. However, even though your day to day functioning may not require the plan, having one can be greatly beneficial to your private practice. First, entrepreneurs who create plans often see 30% faster growth of their companies. There are many studies that connect company growth with a business plan.

Research indicates that about 20% of small businesses fail after the first two years of being opened. With planning and physically writing your plan down, you have a document that helps you monitor your business, allowing you to stay accountable and having a checks and balance system.

How will a business plan help your therapy business

Having a business plan helps you to overcome imposter syndrome. In those moments where you are constantly questioning your ability, having a document where you are tracking your accomplishments helps in many ways. It also is a physical manifestation of your goals and milestone moments. It is a great way of organizing your business and tracking your audience. It also helps you monitor the flow of your business so you know exactly when things are not going according to plan.

How to Write a quick plan

Most business don’t need a formal business plan. Formal plans, are very thorough and can be quite long. If you are not applying for any bank loans, you may not need anything formal. For this post we are going to focus on something simple and short in length. It will include each of the topics below. To assist, you can sign up with your email to get your copy of my One Page Business Plan Template.

Business Plan will cover eight (8) Topics

Remember to keep it simple. You can easily keep these eight topics to one page.

Problem

If you have your niche, then you already have an idea of the problems that require assistance and your help. Being in the mental health field there already is an overall issue that you help with in direct care, be sure to take this into consideration as well. You however, want to be specific of the problems you’ve witnessed and help with.

Solution

How do you plan to resolve the identified problem? This portion of the plan is where you will discuss your idea of how to solve this problem. And you can do this in multiple ways, from talk therapy to creating a planner, or adding merchandise.

Business Model

There are several different kinds of business models. A business model is a descriptor of how you will make money. If you are providing a direct service, you already one way you will make money. Direct services fall under the “pay as you go model.” Here is a link to a good resource of other business models.

Target Market (clients)

Your target market, or target audience are your clients in which your therapy services are intended for. This is another way of describing the people you are helping to solve a problem for. In this area you want to think about client demographics, including age, area, career, and other unique specifiers of your market.

Many people become anxious when they narrow down their market. Most often I hear “I don’t want to limit who I help.” Of course you want to help everyone, however, when you become focused on a particular area in the market you are able to send your message to a specific area rather than randomly throwing darts on the board. Creating a target market is not limiting who you can work with, it actually amplifies your messaging efforts.

Market Advantage

In thinking about the market advantage, you want to think about what sets you apart from your competition. This is the place where you brag about yourself and share your accomplishments thus far. In moments when you are facing imposter syndrome this is the section you can refer to, so you can remember your skills, experiences, and gifts as a therapist.

The best example I can give, is my own marketing advantage. I help therapist level up their private practices through teaching them marketing strategies and concepts while also helping them establish creative revenue streams. My market advantage is, I have 6+ years of experience working virtually, by creating my own products, programs, email lists, videos, and podcasts.

Financial Summary Statement

Many people start up their private practice with the funds they have readily available. Some have a private practice that is already active. Whatever it may be you want to think about assests and expenses. You also want to include your financial goals and losses in this statement.

Funding Needed

How much money will you need to maintain your private practice? This could include your anticipated losses, money needed for CEU’s, new trainings and certifications, equipment, software, books, and hardware. There can be a lot more on the list, so you have to determine what you need for your business and go from there.

One page business plan

Many therapist don’t have a business plan and would like to market their business. You can market without having a business plan and you can also create a thriving practice without one. However, I find that having a plan makes things easier as you know exactly what who you are talking to and have a plan in place about how you will talk to them. With this one page plan, it can be very easy to get your idea down and keep it moving from there. Have you signed up for your worksheet? What are some ways you plan for your business?