How to Scale Your Therapy Practice to 7 Figures So You Can Sell It: An interview with Nicole McCance

The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy

How to Scale Your Therapy Practice to 7 Figures So You Can Sell It: An interview with Nicole McCance

Curt and Katie interview Nicole McCance about her journey to selling her 7-figure group therapy practice. We look at common challenges therapists face in this process as well as ideas and methods Nicole teaches to help others scale their practice more easily. Nicole shares systems, hiring, and leadership strategies. We also look at some important considerations when planning to sell your practice.

Transcripts for this episode will be available at mtsgpodcast.com!

In this podcast episode, we talk with Nicole McCance about scaling your practice

Nicole McCance scaled her practice and then sold it. We dug into her systems and thought processes in creating a sellable group practice.

What do therapists typically get wrong when growing their group practices?

· New group practice owners often don’t have their systems written down

· Unreasonable expectations of the difficulty in hiring clinicians

· Not knowing which path to take regarding marketing and other group practice decisions

What is Nicole McCance’s model for growing a group practice?

· Systemize your operations

· Build your dream team (with your first hire being your mini me)

· Attract clients with digital marketing

· Converting clients using free consults

· Retain clients with follow ups

What are important steps to get your practice ready to sell?

· Your branding must not be your name

· You will need to be able to sell your clinicians and move clients into their caseloads

· You need to move into the role of CEO and not get stuck in the clinician role

· Take the time you need to make that transition

What should therapists consider when deciding whether to scale their practice to a group?

· If you’re feeling isolated, find a community

· There are a lot of steps, systems, and processes that you’ll need to develop (or purchase from someone else)

· If you don’t like change or don’t do well with pressure, don’t go into group practice

· You will need to have the ability to read the market to guide hires and growth

· Focus on excellence and service needs, not growth for growth’s sake

· Build a culture that supports your clinicians and helps decrease clinician turnover

· Figuring out how to pay your clinicians may be more complex than you realize

Stay in Touch with Curt, Katie, and the whole Therapy Reimagined #TherapyMovement:

Our Linktree: https://linktr.ee/therapyreimagined

Modern Therapist’s Survival Guide Creative Credits:

Voice Over by DW McCann https://www.facebook.com/McCannDW/

Music by Crystal Grooms Mangano https://groomsymusic.com/