Small Business, Big Lessons: What I’ve Learned Along the Way

You may have big dreams about starting your own therapy private practice. Dreams to build a life with better hours, a higher salary, and more flexibility… but what about becoming a better person? I know this can sound crazy, but starting and running my own business has been the best therapy I have ever received.

Starting a business is not only about financial gains or creating a brand, it’s also about personal growth and self-discovery. As an entrepreneur, you will be faced with challenges that will push you out of your comfort zone and force you to develop new skills. Through my own journey, I have come to realize that owning a business is a life-changing experience that can teach you a lot about yourself.

In this blog post, I will share the top insights I have learned about myself through entrepreneurship as a therapy private practice owner in the mental health field. Whether you’re a seasoned business owner or just starting out, I hope that my insights will help you on your own journey of personal and professional growth.

What I’ve Learned As A Small Business Owner About Time-Management

Running a business requires a lot of time and effort. You will learn how to prioritize tasks and manage your time effectively.

I have always been great with prioritization, my problem however was and still is to a degree… perfectionism. I would spend hours trying to research evidence based interventions to make sure I was saying and doing the “right thing” in sessions.

I spent days re-writing my client contract over and over again. In time I learned that perfectionism was just procrastination in fancy clothing. What I thought was a strong work ethic was really just high functioning anxiety and old childhood wounds longing to be seen as “good enough”.

In time, I learned to set limits on how long I would work on something. I did this because if I didn’t, I ended up spending all my time at work and none of it at home with my family… the opposite reason I went into business in the first place.

I learned that aiming for a A- and not the A+ was actually a strength, not a character deficit. Hell sometimes even a B or a C was good enough depending on my values and available time (for example picking the perfect color scheme for my brand… definitely not needing to be a A level task).

In fact, striving for perfection in every aspect of your work can actually be counterproductive. It can lead to unnecessary stress and anxiety, and can result in a lack of progress or even failure to complete a project. Instead, it’s better to focus on achieving your goals and meeting your values, rather than trying to achieve perfection in every detail.

Some ways to maximizing your time management, includes:

• Creating a daily or weekly schedule that allows you to prioritize your most important tasks and allocate time for breaks and leisure activities (Book Recommendation: Eat That Frog)
• Setting realistic deadlines for projects and breaking them down into smaller, manageable tasks
• Being mindful of your energy levels and taking breaks when you need them (for my brain injury friends–remember your Cognitive Energy Scale!)
• Learning to say no to tasks or projects that are not aligned with your values or goals

By setting limits and focusing on what’s most important to you, you can achieve a better work-life balance and find greater fulfillment in your work.

Book Recommendation: Do Less: A Revolutionary Approach to Time and Energy Management for Ambitious Women

What I’ve Learned As A Small Business Owner About Problem-Solving Skills

As a business owner, you will face many challenges. You will learn how to solve problems creatively and efficiently.

Opening a therapy private practice challenged my confidence in decision-making, despite considering myself a good problem solver. I found myself struggling to make choices, and spent countless hours brainstorming with my husband, who patiently listened to my concerns, as I tried to determine important details such as business structure, tax obligations, HIPAA compliant phone provider, and more.

Starting your own business can be an overwhelming experience, and it’s completely normal to feel anxious about making the right decisions (LIES to any coach who tries to tell you otherwise).

Sometimes too many options was a curse and I had to just pick something and hope for the best. Other times delegation was the answer– being able to trust and rely on others is a blessing that can lighten your workload provide you with different perspectives and ideas.

Sometimes the best problem solving is finding the best answer for right now and knowing that I can change it in the future if need be. If circumstances change, it’s okay to reassess and make adjustments as needed.

Is decision making a challenge for you? Here are a few additional tips I often provide to my coaching clients to help with them with strengthening their problem solving muscles:

• Break down the problem into smaller components to make it more manageable (remember your SMART goals)
• Consider all the possible options before making a decision
• Don’t be afraid to ask for help or advice from others
• Keep an open mind and be willing to consider alternative solutions
• Finally, remember that problem solving is a skill that takes practice and patience so be kind to yourself.

Remember, starting a therapy private practice is a big undertaking, but it’s important to take things one step at a time. Don’t be afraid to reach out for help and support along the way. With a little patience and persistence, you can overcome any challenges that come your way and build a successful practice.

What I’ve Learned As A Small Business Owner About Self-Discipline

Owning a business means you are accountable for your success or failure. You will learn how to stay motivated and disciplined to achieve your goals.

Hi my name is Alexandria, and I have work-acholic tendencies.

This learned behavior dates back generations, and is worn as a badge of honor in my family.

As much as I love and honor my family roots, this is not a trait I hope to pass on to my children, so being self disciplined with how I manage my time and where I place my actions was and still is a big learning lesson on om entrepreneurial journey.

It’s easy to answer every phone call that rings, especially knowing that missing the call might mean missing a new client. It takes self discipline to shut the phone off and have time away from the office in order to be present in the moment with my foamily, highlighting my relationship values.

It’s easy to take every client that calls asking for help, especially in todays world where there is a scarcity of help available. It it hard to turn people away because my practice is full, I don’t have matching schedules or offer a sliding scale. I set this boundary for myself because I know what I want my life to look like and I needed to take active steps to protect and cultivate to that lifestyle.

Prioritize my health, wealth and relationships is an active choice I make daily, requiring lots of self-discipline. Some days I am better then others, but most importantly, when I get off track I remind myself to be graceful and gently redirect my actions towards my North Star.

What I’ve Learned As A Small Business Owner About Communication Skills

Effective communication is essential for any business. You will learn how to communicate with customers, employees, and suppliers.

This is a work in progress.

My therapy skills have made me a much better listener then I am a talker. Now as a business owner, I’m required to talk about myself, my mission, and my business no a daily basis. I’ve had to develop the ability to explain to clients how I can assist them, which is something I never had to do when working at agencies.

Additionally, I’ve had to communicate with peers and explain how I can work collaboratively with them – a new experience for me. Although it’s a work in progress, I’m finding my voice and becoming more comfortable with self-promotion.

If you are looking to boost your communication skills in business, here are a few tips that can help:

• Practice with a friend or family member: Find someone you trust and feel comfortable with and practice explaining your mission and business to them. This can help you become more comfortable with your message and improve your delivery.
• Attend networking events: Attending events where you can meet other business owners and professionals can be a great way to practice your communication skills. You’ll have the opportunity to explain your business and collaborate with others.
• Focus on your strengths: It’s important to remember that you don’t have to be an expert in everything. Focus on your strengths and what sets you apart from others in your industry. This can help you confidently communicate your value to clients and peers.

Remember, effective communication takes practice and time. Keep working on your speaking skills and don’t be afraid to ask for feedback from others. With time and effort, you’ll become a confident and effective communicator.

Side Note: Any other introverts out there reading this? I love the Introvertpreneur podcast!

What I’ve Learned As A Small Business Owner About Financial Management

Running a business requires financial management skills. You will learn how to manage your finances, balance your books, and make sound financial decisions.

Once I left the cozy security of an agency job with 401K and matching benefits, I had to learn quickly what options were available for retirement as a self employed individual. As I juggled the books, I realized that my mindset was hindering my business decisions – or rather, my lack of decisions. I had to confront my “money blocks” to break free from this cycle.

It’s common to feel a bit lost when it comes to retirement planning, especially if you’re used to the security of a traditional job with benefits. But don’t worry – there are plenty of options available for entrepreneurs and small business owners. Here are a few things to consider:

• Look into setting up a solo 401(k) plan, which allows you to contribute as an employer and employee, potentially saving you thousands on taxes.
• Consider opening a traditional or Roth IRA, which can provide additional tax benefits and investment options.
• Don’t forget about the power of compound interest – the earlier you start saving for retirement, the more time your money has to grow.
• In addition to retirement planning, it’s important to address any money blocks or mindset issues that may be holding you back in your business. Consider working with a coach or therapist to help you overcome these obstacles and make more confident decisions.

If you are facing difficulties with financial obstacles, there are numerous resources and mentors at your disposal. I suggest exploring these options and finding the one that resonates with you the most. Some of my favorites are:

• Denise DT Books:
  • Chillpreneur: The New Rules for Creating Success, Freedom, and Abundance on Your Terms
  • Chill and Prosper: The New Way to Grow Your Business, Make Millions, and Change the World
  • Get Rich, Lucky Bitch: Release Your Money Blocks and Live a First-Class Life
• Amanda Frances Book: Rich As F*ck: More Money Than You Know What to Do With
• Kate Northrup: Money: A Love Story: Untangle Your Financial Woes and Create the Life You Really Want
• Melissa Jean-Baptiste: So…This Is Why I’m Broke: Money Lessons on Financial Literacy, Passive Income, and Generational Wealth (Budgeting, Money Management, BIPOC Financial Help) Note–not a mindset book but a great beginner guide to finances!

What I’ve Learned As A Small Business Owner About Adaptability

The business world is constantly changing. You will learn how to adapt to new situations and stay ahead of the curve.

As a business owner, adapting to change is essential, especially when client needs shift. Similar to how therapists adjusted to telehealth during the pandemic, I had to modify my business approach. Initially, I envisioned a 9-5 practice, but I quickly discovered that mid-day appointments were difficult to fill (and still are). So I adapted, now I take a mid day siesta and stay open 2 hours later to catch the post work crowd.

Extending extending my hours to cater to the post-work crowd has become my most popular time (and some of my most motivated clients because they know how valuable that hour is). This break not only gave me a much-needed rest but also provided an opportunity to network with other therapists who also had similar gaps in their schedules. What was originally a thorn in my side became a Win Win Win!

For many therapist (depending on your client population), business often slows down in the summers, but don’t let this discourage you. Instead, take advantage of this period to revamp your marketing efforts, create content in batches, and develop various passive income streams. This strategy ensures a steady flow of income, even during the slower months.

Want to learn more about how I build a passive income stream? Click here to be taken to the Diversifying Income Digital Course (self study) or you can book a coaching call with me and we can work together to build your ideal passive income plan.

What I’ve Learned As A Small Business Owner About Networking

Building a successful business requires networking. You will learn how to build relationships with customers, suppliers, and industry leaders.

Did you know that introverts are often excellent networkers? Thanks to their ability to form deep connections, their network might be small but incredibly loyal. Unlike extroverts who have large networks filled with superficial connections, introverts prefer to have a few close and meaningful relationships.

This means that when you connect with someone, you are more likely to maintain that connection over time. This can be incredibly valuable in the long run, as these connections can lead to referrals, collaborations, and opportunities that you may not have had access to otherwise.

By focusing on building deep connections, you can create a network of people who are not only willing but eager to support you and your practice. Unlike extroverts who tend to have large networks filled with superficial connections, introverts prefer to have a few close and meaningful relationships. This means that when you connect with someone, you are more likely to maintain that connection over time.

This can be incredibly valuable in the long run, as these connections can lead to referrals, collaborations, and opportunities that you may not have had access to otherwise. By focusing on building deep connections, you can create a network of people who are not only willing but eager to support you and your practice.

I know as an introvert myself, networking can be intimidating. For me when I hear the word “networking” my mind flashes to a full NASW conference room packed to the gills with social workers swimming in and out of tables and tri-fold posters. Just thinking of it gives me the sweats. What helped me with feeling more comfortable networking was think of it as an opportunity to build professional friendships. Less scary right?

Take the time to get to know the person, their style, their practice, and their wants and needs. This not only helps in making the best possible client match but also strengthens and sets professional contacts so they feel connected and heard.

I invite you to join me and other therapists in the private StressLessTherapist Community Facebook group to practice your networking skills and make some new professional friends.

What I’ve Learned As A Small Business Owner About Resilience

Owning a business can be tough, and you will face many setbacks. You will learn how to bounce back from failures and keep moving forward.

I have always been a firm believer in a growth mindset (I wouldn’t be a very good therapist, if I didn’t believe people could change). With each business setback, I have learned something new.

When I couldn’t find clients, I learned how to find my authentic voice and use it in my marketing material.

When I couldn’t figure out how to balance the books, I learned to ask for help and became a financial student.

When I was stumped in a clinical situation, I sought out private clinical supervision and became a better clinician because of it.

Though I dread any challenges and pray no more will come (Mama really does just want a break now and then), I also know that each challenge that comes is a gift in disguise. A gift that is meant to teach me something and leave me stronger.

Here are some tips to help you develop resilience and overcome setbacks as a business owner:

• Maintain a positive attitude: Instead of dwelling on your failures, focus on the lessons you can learn from them. This will help you stay motivated and optimistic.
• Build a support network: Surround yourself with people who can support you through tough times. This can include family, friends, mentors, or other business owners who have been through similar experiences.
• Embrace challenges as opportunities to learn and grow. This will help you develop a more flexible and adaptable approach to your business.
• Take care of yourself: Running a business can be stressful, so it’s important to take care of your physical and mental health. Make time for exercise, relaxation, and self-care activities.
• Stay organized: Keep track of your goals, tasks, and progress in a structured way. This will help you stay focused and avoid feeling overwhelmed.

What I’ve Learned As A Small Business Owner About Personal Growth

Owning a business is a journey of personal growth. You will learn about your strengths, weaknesses, and personal values, and how to use them to build a successful business.

I have said it once before and I will say it again, becoming a business owner has been the best form of therapy I have ever received (outside of EMDR, that is just pure magic). I never imagined reinventing myself so many times in my entrepreneur journey. Each reinvention I start out feeling vulnerable AF and ultimately leaving feeling stronger then ever. Embrace the rollercoaster and be mindful of the personal changes that come with it.

It’s amazing how much personal growth can come from being a business owner. Taking that leap of faith and starting your own venture can be scary (it was- and still is- TERRIFYING for me), but it can also be incredibly rewarding.

I love having complete control of my business. This freedom has taught me to use my voice in ways I have never been able to before. This can be empowering and give you a sense of control that you may not have had in other areas of your life.

As a forever student, I thrive in environments where I can learn new things. As an entrepreneur, you’re always facing new challenges and learning new skills. Has helped me to build confidence and feel more capable in other areas of my life.

I first started my practice in my pre-motherhood years. There is something magical about building something from scratch. Watching your business grow and succeed is incredibly satisfying. It’s a tangible representation of all your hard work and dedication. I got to relive this excitement when my daughter was born, and again when StressLessTherapist arrived. Watching your babies grow and blossom (both business and real life) is a gift that is impossible to explain but intoxicating to feel.

Remember, being a business owner is not always easy. There will be ups and downs, but it’s important to embrace the journey and the personal growth that comes with it.

Conclusion

In conclusion, owning a practice has taught me a lot about myself and my abilities. I have learned to prioritize tasks and delegate where possible. My problem-solving skills have been put to the test, and I have learned to think creatively to find solutions. These are just some of the lessons I have learned on the entrepreneurial journey and I am sure there are more to come.

If you’re thinking of embarking on the journey of therapy private practice ownership, know you do not have to go it alone. Let’s chat about your goals and dreams during a coaching session tailored to your unique values and skill set.

Click here to learn more about business coaching and how to turn your dreams into a reality.