25: Grow a Profitable Practice From the Inside Out--With Monica Kovach
Monica and I met last spring and have been meeting twice per month in a small business mastermind. We know the power of support, accountability, and community first hand. Monica came onto the Mind Money Balance podcast to talk about how therapists can grow their profitable practices by tapping into what they need first. We cover A LOT in this episode, the highlights are laid out below.
The three money stories that held Monica back from creating a sustainable and profitable practice were “I’m not worthy of earning good money,” “I’m not good at money,” and “I can’t charge people money.” These types of insidious stories are ones I’ve heard versions of countless times in my work as a financial therapist. She overcame them by doing a lot of work around money mindset, including celebrating financial wins and learning the tactical side of money with books like Profit First by Michalowicz.
When I asked Monica what it would have been like to work through the mindset and tactics of money with other therapists, she shared “that would have been a game-changer because I thought that I was alone.” So many of us experience money anxiety or avoidance alone and think we are the only ones who experience financial worries. Especially for therapists, who are told to not talk to each other about money. There is a rumor that it’s price-setting to talk about our fees, which is untrue.
While Monica loves an aesthetically pleasing, minimalist website, she knows that the way to make a website “worth it,” is to make it hard-working. She believes that a hard-working website can be your best personal assistant, constantly talking to potential clients on your behalf so aligned clients can find you and your work. She defines a hard-working website as one that speaks directly to your potential clients, allowing them to find you on search engines or social media, while your website makes it easy for them to book a session with you.
Grow a Profitable Practice from the Inside Out is a cohort-based money mindset and profitability group coaching program for therapists that Monica and I have collaborated on. In the group, not only will participants dive into their money story and rewrite them in a safe place, but they’ll get one of Monica’s beautiful and hard-working pre-designed websites.
Learn more about Monica and her business Hold Space Creative here.
Take Monica’s quiz “Which Type of Therapist are You?” head right here. You can also follow Monica on Instagram @holdspacecreative.
Interested in the small group coaching program “Grow a Profitable Practice from the Inside Out?” Click right here to learn more and apply.