The average household savings balance is a whopping $62,000. If you don’t have that much in savings, don’t worry – almost no one does. The *median* household savings balance is $8,000. The only reason the average savings balance is so high is because the upper 1% has a *lot* of money.
Even if you’ve saved almost nothing, you’re not far away from everyone else.
The reason this is so important is because I frequently hear from my clients that they aren’t ready to start a private practice because they don’t have enough in savings.
My response: how are you going to save if you don’t start a private practice?
We know how little most public sector and hospital jobs pay. I lived it myself, barely scraping by no matter how many hours I worked. If you waited until you had a savings account to start your practice, chances are you won’t have one.
But here’s the thing – you don’t need *that* much to start a private practice. Yes, there are some early expenses, and I do hope you choose to work with me as your private practice coach so that we can start your private practice together, but:
- You don’t need an office.
- You don’t need a sign on your door.
- You don’t need to invest in advertising you cannot afford.
You don’t even need a couch. You can work remotely. You can rent private space. You can file for your LLC and business license for as little as $800 or less depending on your state. There are cheap monthly websites, there are inexpensive forms of marketing, there are free tools – there are so many ways to start your practice with very little up front and very little in ongoing expenses until you’re ready.
And remember, you don’t even have to leave your job.
If we can help you find just *one client* that you can fit in during your off time, you’ll be able to pay for almost the entirety of your expenses within no time. Once you get more, you’ll find that your case load more than offsets your monthly costs.
You do NOT need a savings account to start a private practice. You simply need to be ready to make the jump and to know what direction you need to take to get there. Let’s get you started. No matter how much you have in your savings account, I’m confident that, together, we can help you launch your practice and start earning that income you deserve.