Private Practice - 1 Year in Review

I can't believe I am saying this, but, I have officially been in full-time private practice for 1-year! I have had my practice since 2014; however, December 5th of 2016 was when I left my safe, full-time 9 to 5 job to grow my business.

So much has changed in just one year. I now have a full client load, in which I am scheduling about 6-weeks out for appointments. I am comfortable and competent with billing and calling insurance companies for claims. I eliminated aspects of my business that were just a poor avenue of income or a drain on my emotional well-being. I built and maintained partnerships with companies to bring wellness to them. I started teaching at the college level for the first time and am able to continue doing so with my practice in 2018. There are just so many wins I have had with my business and I am grateful to all of my friends/family who have given me guidance and encouragement along the way.

For today's post, I wanted to share with you just some of my tips/insights from being PorrazzaNutrition for a full year.

Diversify 
I have had many partnerships change over just a few months. Some, I ended due to lack of professionalism. Some, were a steady source of referrals until they hit a business slump, which caused my client intake to decline too. All-in-all, make sure you reach out and connect with a variety of businesses to get your name out there. Don't just rely on one company/partnership to make or break your business. Having a diverse number of partnerships will also put you in a better bargaining position, should that time come.

Find Your Passion and Motivation 
What motivates you to be in private practice? Is it the flexibility? Is it the freedom of designing your own path? Is it being able to help a greater network of clientele? Find out what motivates you! If I get overwhelmed or stressed, I stop and think about WHY I am here in the first place. This can really help me to get over the negativity I am feeling and push me to do more.

Always Make Use of Your Time
Being an entrepreneur means that you ride the roller coaster of financial and emotional ups and downs. If you find your business in a bit of a slump, maybe around the holidays, do something productive. Can you work on social media posts, blog topics, website design, or new programs? During my free time, I like to divide my days into "business" and "personal." I make a list of things I want to accomplish when I don't have clients to be able to grow my business. On the other side of things, I brainstorm what personal items I want or need to get done. I try to stick to the hours or days I determined I would work on my business to keep a personal boundary for myself.

Create a Positive Support System

The support I have gotten from my boyfriend, family, and friends has really lessened some of my bad days. Find at least one person that can be a sounding board for you. Someone who can tell you that you can do it. Someone who can push you to do more than you think is possible. Someone who can tell you when something is a terrible idea (it has happened to me on a few occasions). If you don't have anyone personally you can count on for the moment, look to online groups. I am in a few different ones on Facebook and also within email threads. It's nice to see you are not alone in your efforts and that many have been in your same shoes. It's also a really awesome feeling to be able to support someone else in their private practice journey. 

Take Time to Assess 

I have been keeping a business journal since the first day I started my business full-time. This has been a really useful tool for me. I write about positive and negative things I encounter in my practice, brainstorm new ideas, or just vent when I need to. Over the months, I can go back and see how far I have come in business and also reflect on some of my successes. I feel like keeping a journal has been a very grounding experience and also a way for me to just write and move on from something I may be overthinking. 

Take the Chances

You never know what you might become or what you might do in the next month or year. So, don't limit yourself by saying, "I can't." Take the opportunities when they arise, and not just for financial reasons, but for experience and growth. Network with others, keep your business connections, and stay open to new possibilities.

Business Planning for 2018

The holidays are fast approaching and that means 2017 is coming to a close! I feel like this year flew by for me. This was my first year as a full-time business owner and I have loved every minute of it (even the stressful ones). Over the past few months, I found myself working IN my business versus ON it. I realized with overbooking myself, I was stunting my business growth. While the income was great, I was just going through the motions daily without creating anything new or challenging myself.

With that, I decided to start working on my business goals and strategy for 2018. I wanted to have a plan in place so I can start taking action steps for the many ideas that I have. Below are some of the questions I asked myself when thinking about my 2018 plan.

Questions to Ask Yourself
1. What is your ultimate vision for the end of 2018?
-Think of what you want your business to look like by Dec 2018. What does your day-to-day include? What is your schedule like? What types of clients are you seeing? This can help you to identify goals and action steps to take monthly and daily.

2. What are your large goals for the year?
-This could be launching a practice or starting a new program. Think about larger goals being more long-term (i.e. to accomplish in 6-8 months).

3. What are your smaller goals for this year?
-This could include working on marketing to local businesses or incorporating more social media posts. Think about smaller goals as being more short-term (i.e. weekly or monthly).

4. Why is all of this important?
-Think about the importance of each of your goals. This will help with driving your motivation and also developing a targeted strategy for building and marketing.

5. What pitfalls do you want to avoid?
-Think about the hangups you had this year in business. Did you tend to overbook yourself? Are you doing too much on your own? Are you lacking personal time? Are you saying yes too much? Be aware of the things you want to work on and build them into your goals and ultimately your schedule. Write out monthly reminders to yourself to help avoid these pitfalls throughout the year.

After I asked myself the questions above (doesn't have to be in this order), I brainstormed all of the steps I needed to take for each of my ideas and goals. I actually did this over a few days while on the train and waiting for appointments. After I had a comprehensive list, I organized the steps into a logical order and began to map them out on my calendar as due dates.

I also planned out the dates I wanted to schedule clients and when I would be working ON my business. One of my main goals for this year is to not overbook myself and instead stick to the boundaries I set. Although this will include my having to say "no" sometimes, I know this will be really important for my business and my sanity!

I hope this post helps you to plan out a successful 2018! Happy holidays!

Learning to Relax in Your Business

I am finally getting back into the swing of the week after being on vacation. My boyfriend and I scheduled a last minute (i.e. 3 weeks ago) trip to Nassau, Bahamas for my birthday, which was amazing! I would highly recommend Nassau for first time travelers or any travelers for that matter.

Before going away, I was anxious about "leaving" my business and teaching positions for 6 days (I teach online and face-to-face at a local community college). Don't get me wrong, I was excited to go away; however, this would be the first time that I was this busy AND going somewhere with no cell service and an unreliable WiFi connection.

The first couple of days, I was still able to get on my email and check-in with my classes. After about the 3rd day, the WiFi tapped out. It was honestly a blessing in disguise for me. It made me focus more on relaxing versus trying to stay on top of everything. Instead of checking email on the beach, I was reading a leisure book. Instead of grading papers in the morning, I was writing or doing a crossword on our balcony. I could really just relax and de-stress since there was nothing I could do about the cell service and WiFi. I actually felt like I had a break and was on vacation, which is how things should be!

After coming back from vacation, I had a few days of catching up on emails and calls; however, everything was perfectly fine. There were no major issues and the small issues that did come up were resolved quickly in an email or call. I did all of that worrying in the beginning for absolutely nothing. What was even better was that I felt super recharged coming back. I was excited to get back into my business and teaching. I had some new ideas for my business and also mental clarity about issues I was getting hung up on.

My goal for the next couple of months, especially with the holidays coming up is to really just take that time to relax and step away from my business/teaching. This means turning my phone off at the gym (and not answering emails on the treadmill). This means putting my phone on silent while doing other things I enjoy like cooking or reading so I am not tempted to answer. This means not having my phone out at the dinner table so I don't break conversations for insignificant emails. This also means setting and sticking to the boundaries I set between my business and personal life.

All in all, I had a wonderful vacation and I look forward to taking some more time for myself, without giving in to temptations to multitask with my business. I know that this will improve my motivation and also recharge my batteries when I am feeling burnt out. I challenge you to take the time to step away from your business (or any job) for a few moments, hours, or weeks for just yourself!

Top 10 Skills for Dietitian Entrepreneurs

Have you debated going the entrepreneurial route? Thinking about starting a private practice as a Dietitian? You may be wondering if you have what it takes to succeed. After being in business for 3 years now, I have learned a lot about my skills and what I need to hone in on to have my practice thrive.

Below, I outline 10 different skills/traits that are crucial to your success, whether it be in private practice or in another business venture. While you may not feel that you are strong in all of these areas, the more you push yourself and your comfort level, the more enhanced these skills will become.

#1 - Passion 
Whether you will enter the realm of entrepreneur as a Dietitian or any other professional, you need to be passionate about what you do. This passion will drive your business and fuel your motivation through tough times.  Your passion will resonate with clients and show them that you truly care about what you do.

#2 - Perseverance
Throughout business, you will have many ups and downs with both income and overall success. Contracts may fall through, clients may drop out, your business may change, etc. Perseverance is key to keeping yourself from throwing your hands in the air and walking away. All of your hard work will pay off!

#3 - Self-Confidence 
While you may not feel confident in every aspect of running a business, be confident in your niche, your talent, what you bring to the table. As an entrepreneur, you are constantly selling yourself and your products/services. If you don't believe in yourself and have confidence in your abilities, why should prospective clients or companies?

#4 - Self-Motivation
As an entrepreneur, you are the boss. You don't have a manager telling you what to do at all hours of the day. You are not walking into an office where there is a list of duties or set of expectations for your role. YOU create that role. YOU create those expectations. Can you motivate yourself when no one is standing over your shoulder? If you are struggling with how to motivate yourself, take some time to figure out what drives you to succeed. Is it making more money? Having more freedom? As an entrepreneur, I can say from experience that you won't necessarily feel motivated, or confident for that matter, every single day. You should be able to motivate yourself and be a self-starter at least 90-95% of the time.

#5 - Strong Work Ethic 
Having a strong work ethic can be described in a number of different ways. I like to think of quality, integrity, and responsibility as attributes that someone can exhibit within their "strong work ethic." Your quality of work and service will speak for itself and drive clients to your door (I have seen this first hand without the use of paid marketing).

#6 - Ability to Multitask 
Being the boss means that you may wear many hats (especially if you work alone), but, it can also mean you oversee many departments and thus need to be aware of the inner-workings of each. I feel that there is a fine line between what is effective and what is overwhelming and hinders production. When I think of multitasking, I think of the various things I need to accomplish on a daily basis: posting to social media, seeing clients, fielding calls, answering emails, writing content or lessons, etc. Some of these things may happen simultaneously. The key is not stretching yourself too thin, but managing these tasks efficiently.

#7 - Effective Time Management
Number 6-8 all go hand-in-hand. With having multiple items on your plate each day, you need to learn how to effectively manage the time you have. Know when your best hours are to work on administrative tasks. Know when you tend to see and schedule clients. Remember to leave some time for yourself daily (if not weekly) to recharge your batteries. Running on empty will hinder your productivity and ultimately ruin plans for time management. Before you know it, you are sucked into 3-hours of Netflix and haven't accomplished a thing for your business.

#8 - Organization
I would say the number one skill to have as an entrepreneur is a high level of organization. This is especially important in the beginning stages of your business planning. If you are a Dietitian and plan to become an insurance provider, you will need to keep track of applications, billing codes, claims, etc. Being organized means that you manage your time well, finish tasks by their deadline, and are on top of scheduling. One of the key things I have learned with keeping myself organized is to prioritize my day-to-day tasks and anticipate when I will accomplish the non-priorities. I also found having systems in place for my administrative tasks is helpful. I have a system for how I schedule clients, how I store files, how I chart, etc.

#9 - Flexibility 
You may have your day or even week planned to a perfect T and then, disaster hits. Two clients need to reschedule, you get 2 new calls of potential clients, your seminar outline is taking longer to write than you thought, etc. Within any role, as an entrepreneur or an employee, you need to be flexible. Things will happen that will throw your day off. Take a minute to regroup and then prioritize what is ahead of you. Being flexible means using many of the other skills mentioned before: time management, organization, strong work ethic, etc. Every day will not go as planned and that is okay!

#10 - Continuous Learner
One final skill I want to touch on is being the continuous learner, which can be related to the field of nutrition or business. Never stop challenging yourself or pushing your boundaries. Continue to learn, enhance your skills, and become a polished professional.

After reading through this post, what can you identify as your strengths and weaknesses? As I mentioned earlier, you may not feel strong in all of these areas of your business. If you do feel one or two areas need improvement, can you take an online course to enhance those skills? Or, could you take on a partner or an employee that would fulfill these tasks? As an entrepreneur, you may not be able to handle everything in your business, especially as it begins to grow. Identify what your are priorities and where you can delegate or outsource other tasks.

Leave a comment and let me know your thoughts!

For more information on preparing yourself for private practice, click the LINK.

For tips on starting a private practice, click the LINK.

Dietitian Interview Tips

Welcome back to My RD Journey! Things have been a bit crazy over here the past few weeks. I half expected my client load to decrease with the end of summer and beginning of the school year; yet, it is has been the opposite, which is good! I also got the opportunity to teach an in-person class at a local community college for this semester. It was super last minute as in I found out about it on Thursday, interviewed Friday, went to an in-service the following Monday and started teaching Wednesday. I didn't have access to anything, just a textbook and role-book on my first day. I am now heading into week 4 of classes and I love it! I love being able to teach young minds about nutrition and I especially love that I have so much flexibility in how I teach the materials. Despite the craziness in my schedule, I love that I have the opportunity to teach and ultimately grow professionally. It is very gratifying!

I have been doing a lot of thinking lately about my business and the direction I want to move in. I have enough clients to bring on another Dietitian, yet, I am hesitant to do so since I would have to change up my business structure, figure payroll out, and whatnot. I know a few other RDs that do this; however, I am not sure if this is my ideal long-term business plan. I am also finishing up the editing for my first book and I definitely want to get it out for September. I have about 6 other book ideas fleshed out (some for RDs and some for public); however, I am just struggling to find time to write. I am at the point where I could just continue with my current load of clients and classes; however, a part of me wants to change it up. I also want to have more time to myself versus running around every day. I am wondering if teaching is something I will end up wanting to do more of long-term. Anyone else reach this turning point in their business? What did you do in moving forward?

Since I had recently interviewed for a college faculty position, I wanted to share some of the tips I gained. Whether you are a new RD looking for a job out of your internship or an RD that is debating switching careers, these tips will hopefully provide you with some insight.

(Dietitian) Interview Tips 

1 - Do Your Research
For almost every interview I had, I was asked the question, "Why did you choose ____(insert facility name here" or something along those lines. So, think to yourself, "Why are you interested in this facility or this position?" If you are just trying to get any job, spend a few minutes on the company's website or Facebook page. Are there programs that they run that you think are great? What about their philosophy for wellness or patient care? Pinpoint some aspects of the facility that you could touch on in the interview.

2 - Bring the Essentials
For my interview, I brought in my resume, CV (which had more detailed information about my education), cover letter, list of 3-4 references, and some examples of my work. Even if the information was submitted already online or via email, I always bring hard copies with me. I have had interviewers put my copies in with my employee file or review with me during the interview. When thinking about bringing work examples, I tailor the materials towards the type of interview I am in. For example, with teaching I had sample lesson plans I wrote for high school students and adults. I normally wait to bring out my work samples until it comes up in conversation.

3 - Be Prepared
If you haven't interviewed in a while (or ever), make sure you do some practicing with a friend or family member. Go through some of the most common interview questions like: what are your strengths and weaknesses or what is your teaching philosophy or why would you be a good fit for this position or how would you handle scenarios for conflict or working in teams. Trust in the education and experience that you have!

4 - Dress to Impress
I always say to fellow Dietitians and interns that it is better to dress up and be told to dress down than the opposite. Come to the interview in your best professional attire even if you know the position you are applying for involves wearing scrubs.

5 - Come with Questions
When you go in for an interview, you are also, in a sense, interviewing the facility/interviewer. Will this place be a good fit for you? Do they offer the benefits you need? Always come prepared with questions. The last thing you want to do is get into a job and realize it was not what you expected! Ask what a typical day looks like for the Dietitian. Ask about the interview process or training procedures. Don't be afraid to come with a list of questions to ask. This also shows your organizational skills, that you prepared for the interview and you care about your role as a Dietitian.

Remember to just be yourself and trust in the experience that you have. Leave a comment and let me know your best interview tips!

Tips for Writing Your First Book

Welcome back to My RD Journey! For the past few months, I have been working on my first book! I had been thinking about writing a book for the past year now, but it wasn't until the beginning of this year that I actually thought I COULD do it. I was so full of self-doubt about my skills as a writer and my ideas as a Dietitian, that I was terrified to start compiling ideas for my book. I mean who am I to write a book?!

I purchased a few books (see below for my recommendations) and before I knew it, I was more than excited to write. I started testing my book ideas out with my clients and fellow Dietitians and I became more confident in my book ideas. After a while, I started to have this "itch" to write something tangible that people could use long-term. Is weird as this may sound, it was like I NEEDED to write and it truly became a passion of mine.

At this point, I finished a first full draft of my book and have it out to my beta readers for commenting. I must had re-read and edited 100 times before sending it to my first reader! Once I get the edited versions back, I will do another couple of revisions before the final editing process. I have decided to self-publish, so I have a bit more back-end work to do.

Anyways, for today's post, I wanted to share with you some of the resources and tips that helped me in the beginning stages of writing my first book!

Create a Timeline 
One thing I did not do for this book, but plan to do for my future ones is to create a timeline for writing and editing. I started toying around with my book idea in May, but it wasn't until almost July that I had content written down. In August, I started planning out when I would edit, send copies to my beta readers, re-edit, etc. Having a timeline pushed me to work harder and gave me a clear vision of my book's path. I highly suggest getting together a timeline for your book now.

Practice Writing
If you don't currently have a blog or social media page, get one! Start practicing your writing skills. The more you write, the more you learn about yourself, your style of writing, your method of writing, etc. Are you someone who likes the pen and paper? Would you rather type it out? Does writing at home distract you? Learning about yourself now, will help when you start writing a longer-form book.

Pull From Previous Content
If you have been blogging or writing articles for a while, pull from that content when creating a book. Think back to previous lessons and presentations. All of that material can become apart of your book. Use the great things you have already created as an outline for this book or future ones!

ID How to Capture Ideas 
I often get random ideas about books or content for the book I am writing while driving, showering, or sitting on the train. One of the biggest tips I have is to find a way to capture these ideas. I now carry around a small notebook to jot down thoughts. I have a notepad app on my phone that also voice records, and I keep a brainstorming document on my laptop. I never remember all of the fleeting ideas I have, so being prepared with ways to capture them has been super helpful.

Join Mastermind Groups

I am apart of a few different writing groups, one of which is within the AND. I love these groups for not only the tips, but also, motivation! Join online groups, email newsletters, or in-person meet-ups!  

Get Over Your Fears
Your first book may not be your greatest book, and that is totally okay! Put your heart and soul into what you are doing and just know that the second time around, you will be even better. You will always have people who dislike your content, whether it be a book or blog. You will also always have your die-hard readers and followers. Focus on that positive energy! One thing I kept reminding myself in this process is that I know what I write will at least help one person (even if that one person is a family member).

Just Write 
For about 2 months, I was so concerned with learning the best way to write, the best way to market my book, and the best way to format my book, that I didn't actually even write anything! I was psyching myself out of writing thinking about all the things I needed to do. I pushed that all aside and basically said to myself that I was worrying over a product that I didn't even have yet! My final piece advice to aspiring writers out there is to just write. Get it all out on paper first and then worry about the rest.

Are you thinking about or currently writing a book? What have been your most helpful tips in the writing process? Leave a comment below and let me know!

Great Books That Relate to Writing/Creativity/Niche:
Make Your Idea Matter
Start Writing Your Book Today
Writing the Damn Book
The War of Art

Look out for my first book coming SEPTEMBER 2017! 

Balancing Work & Personal Life

Happy Saturday! This is going to be a bit shorter of a post since I have a ton of cooking to do for Easter tomorrow. I am making about 70% of the menu this year, which I am so happy about, since it was a slow process getting my whole family interested in healthier meals/sides.

The past few weeks, I have had a lot of time to reflect on how one-sided my life felt in terms of balance. I felt like I was always working and just squeezed in time for myself or my family. I still wasn't working on the things that I had set goals for (like writing an e-book or creating Podcasts) and I really needed to make that change. I had a few family issues this week (all resolved) that made me appreciate the fact that I have a private practice and do have flexibility. I did realize that my time still needed to be adjusted for a more optimal day-to-day routine. So, with that being said, this post brings to you my top 3 tips/lessons for having a more balanced work and personal life.

1. Set (and Keep) Boundaries for Yourself
I am the worst at keeping my boundaries. I will say to myself that Tuesday I am not booking clients so I can work on x-y-z. Then, a client comes along needing an appointment and I say, "Hey, what's an hour?" The reality is that the 1-hour appointment also includes travel time + prep + post work (billing, report writing, etc) and can really break the concentration I had going for the day. I now schedule in my calendar the days where I don't see clients and I stick to it. Setting boundaries also means not checking emails or your phone constantly. I no longer answer emails after 8pm, unless it has been a late day for me. I always think to myself that, "It can wait, or they would call." If not, I end up checking the email, spending the time to respond or react in some way and ultimately it feels like my work day is just dragging on and well into my personal time.
2. Schedule It
Going along with keeping boundaries, use your calendar to schedule when you are doing personal things. I planned out the days I would go to the gym and when I would be gardening. I also set days for office-work for my business and times when I would work on content creation. This could mean seeing clients on Mondays, Wednesday and Thursdays and also teaching classes on Wednesdays and Thursdays. It could mean Tuesdays are when I garden and spend time doing personal things. It could mean Fridays are office-work days where I follow-up on billing issues, work on social media, etc. At first I had the thought that my life was so planned it leaves no wiggle room; however, I discovered that by setting aside the time initially, I had more freedom and flexibility.

3. Don't Overbook Yourself
When I first started my practice full-time, I just wanted to get as many clients scheduled as I possibly could. After realizing that I wasn't spending time on furthering my practice, I began to cut back on my workload and space it out a bit more. If I overbook, I end up stressed out and really just not at my prime. Not overbooking yourself ties right into keeping the boundaries you set. If I lose a client because I can't see them in 2 weeks, then so be it. It rarely has happened that someone doesn't want to wait for an appointment; however, I know for my sanity and stress level that cramming in an appointment isn't good for me. Usually, those cram-in appointments take the place of the time I wanted to go to the gym or time I wanted to create something. In the long-term, it isn't worth it. In my last blog post, you can read all about how I have been striving to reform my practice to allow for more flexibility while maintaining income in the long-term.

In the end, the reason I am so busy is due to my own fault in over scheduling and plain overbooking myself. I no longer want to be so busy that I can't enjoy the things I love like gardening or spending time with my family or cooking. So, my personal commitment is to streamline my business and tasks that go along with it to be able to have the optimal work-life balance for me.

Leave a comment and let me know what your tips/strategies are for keeping your work and personal life in balance.

Setting Income Goals - Billable vs. Non-Billable Hours

Hey there! A few weeks ago, I posted about setting fees in your private practice. As a follow-up to that, I wanted to break down how I determined my monthly and yearly income/expense benchmarks. This is just my way of setting income goals and it is by no means perfect. I am not an accountant or even have a business background, just a dietitian running a private practice and learning things as I go! You don't necessarily need to do every step listed in every order, again, I am just posting this as a guide for my fellow private practice RDs and RDs-to-be.

Step 1a: Figure Out Your Personal Expenses
I separated my expenses into business and personal, but since I am self-employed, both get factored in to my equation. I found it easiest to figure out what my expenses were per month and then times that by 12 to get the yearly expenses. Any expense that was paid yearly (car insurance, etc), I divided out to see what a monthly average cost would be. My estimated monthly personal expenses ended up totaling $1470, which brought my yearly personal expense total to $17,640.

Examples of personal expenses: food, living (rent, utilities), medical (bills and medications), car-related (gas, inspection, etc), gym membership, phone bill, etc. I also added in here an extra $100 for miscellaneous expenses (i.e. gifts, clothes, etc).

Step 1b: Figure Out Your Business Expenses

Many of you who have been following me the last year or so may know that I do primarily in-home counseling and some work-site counseling. I don't have any overhead for office space rentals, etc. I just wanted to throw that out there since my monthly business expenses may seem a bit low. My estimated monthly business expenses ended up totaling $400 initially; however, I did have to add in health care costs since I pay for my own insurance now. That brought me up to about $700/month for business expenses. 

Examples of business expenses: office supplies (ink, paper, etc), travel/parking for classes/counseling, cooking class materials, referral fees, memberships, business banking fees, health care, liability insurance, faxing services/machine, etc.

Step 2: Figure Out Yearly Income 
Right off the bat, I know that I need to make at least $26,040 to cover my personal and business expenses (monthly expenses x 12). I also wanted to be able to save some of my income and not just live paycheck to paycheck. When I first figured out my desired income, I settled on $40,000 for the year. This level of income would cover my expenses + estimated taxes. For estimated taxes, I averaged about 15.3% being paid towards federal (SS + Medicare) and about 4% for PA tax. I rounded this up to about 25% just to cover myself. With taking out about $10,000/year for taxes and $26,040 for expenses, that left me with about $3,960. This number could vary in real life since I overestimated for expenses and taxes. Also, when doing taxes for the year (or quarterly), you do get some tax breaks for being a business owner and a lot of my expenses were write-offs. Regardless, I still wanted to have a rough estimate to figure out my income goals. If you wanted to have $40,000 be what you would see after taxes, just do the following -> ($40,000 x 25%) + $40,000 = $50,000. You could also think to yourself that you just want to make ends meet. In that case, you could do the following -> (Yearly expenses x 25%) + Yearly expenses = Desired yearly income.

Step 3: Figure Out Monthly Income Goals
One easy way to figure out monthly income goals would be just to divide out your desired yearly income by 12. Still using the $40,000, that would be $3,333/month. With $50,000/year that would be about $4,167/month. From this point, there are a lot of ways you can figure out client goals; however, below I list just two of them. Before I get into that, I just want to point out that you will need to think about what is considered billable versus non-billable hours. You may work a 40-hour week and end up only being able to bill for 20 hours of that. Billable time is what you are getting paid for (i.e. counseling appointment time, class time, etc). Any office work, emails sent, time prepping for an appointment, etc may not be time that you can necessarily bill for. So, when thinking about client goals just know that this is the billable time or amount of time in which you receive payment for services.

Step 4: Figure Out Client Goals (Option 1)
Let's say you have an income goal of $3,333 per month, this breaks down into a weekly goal of about $833. If you only have 8 hours available for billable hours (i.e. 8 hours to see clients) then this means you will need to charge at least $104 per client and see at least 8/week ($32/month) to be able to reach your desired income goal. If you don't take insurance and you already know that you charge $120/hour, this cuts the number of clients you see per month to 28 versus 32. You can think about what your time is worth and determine a rate for counseling or general services that is even higher and ends up cutting down on how many hours you need to spend doing things that count as "billable." If you accept insurance, you are bound to the fee schedule that they set for you. So, if you get reimbursed $120/hour for initial appointments and $108 for follow-up appointments, you may need 10 initials and 20 follow-ups to hit your monthly goal.

Step 5: Figure Out Client Goals (Option 2)
If you do more than just provide counseling services, you can use this option to determine client goals. Working with the $3,333 as a monthly income goal, let's say you run cooking classes or a nutrition class every month. Let's say you make $800 per month to run this class 3 times. This leaves you with $2,533 ($3,333 - $800 class) to still make for the month. This could mean about 24 follow-up appointments at an average of $108/hour or it could mean 5 initial appointments at $120/hour and 18 follow-ups at $108/hour. Although this seems like a lot of numbers and scenarios, it helped me to figure out how many clients I wanted to be able to see per month. Once I figured out a client goal number, I worked on a marketing plan. I mentioned in my last blog post that I wanted to work on more programs and content versus services. I love what I do as a dietitian; however, I find myself working a lot and only being able to bill (I accept insurance) for a portion of that time. I want to free-up my time and still hit my income goals, which would mean decreasing the "service" portion and increasing the "product/program" portion.

Step 6: Overview 
In summary --> Desired Yearly Income (Factoring in Business + Personal Expenses + 25% for Taxes) divided by 12 months = Monthly Income Goal. Another option = Desired Yearly Income divided by 52 weeks (or 50 if you take out a week for vacation and another week for sick/personal time*) = Weekly Income Goal. From your monthly income goal, you can determine how many billable hours (and ultimately clients or classes) you will need to reach this. It really helps knowing your hourly rate.
*Normally, with being employed, you may get paid for personal, vacation and sick days. If you are self-employed and offer a service, if you don't provide the service you don't get paid.

As a way to check my progress monthly, I created two sort of "snapshot" documents for my finances. The first is the yearly look at my total income, total expenses, and net profit. I made this so I can see where my peak months are for income. The second document I created was for my monthly overview. I tracked the number of appointments (scheduled, cancelled, re-scheduled), classes ran, business and personal expenses, and total income received from both classes and counseling. I also include how many miles I drove that month for business. I was using apps to track my expenses/income before; however, I really like having the paper copy to just have it all laid out in front of me. I just recently got Quickbooks and I really love it, but again just like having my own sheet that makes sense to me.

I hope this blog helped you at least a bit in figuring out your own income/expense goals. As someone who doesn't have a background in finance/accounting, I wanted to just be able to share my process for setting income/client goals. Leave a comment and let me know what other resources have helped you with figuring out finances. I hope to post my snapshot documents on my website; however, if you wanted a copy to get you started, shoot me an email :)

4-Month Practice Recap - Self-Employed Vs. Employee

This blog post was originally going to be all about setting income goals and figuring out billable hours; however, as I approach my 4-month self-employed, private practice milestone, I had something different I wanted to share first. This revolves around mainly how I left a "9-5" employee job for a 9-7 if not 8-7 self-employed private practice. Was it worth it? Of course and I would do it again; however, I did come to realize a few things this past month that are going to redefine how I do business in the future.

When I first thought about private practice, I didn't think it would end up being something full-time. Sure, I would have absolutely loved to just be doing my practice; however, I just didn't see that as being realistic. I was certain I needed the traditional path of jobs to be successful. After a few years, I began to see that full-time private practice was definitely realistic and coming faster than I had imagined. Now, let's flash-forward to when I was deciding to leave my full-time employee job. I debated with myself A LOT in the months leading up to my quitting. Would I make enough money? Would I actually like what I was doing? Would I get overwhelmed? I was someone who was ingrained with the idea of making money and saving for a future. Not that this was at all a bad thing, but I was fearful that I wouldn't be saving and would instead drain the savings I had been building for years.

With those thoughts in the back of my mind, I still quit my job and was quite successful being a private practice business owner. My income surpassed what I was making being an employee, I was flexible enough to be able to spend time with my family whenever needed, and I loved being able to choose what I was doing. So, this doesn't seem so bad at all, right? To be honest, my success was largely due to stretching myself beyond capacity, taking paying gigs whenever possible (even if they were at lower rates than I wanted) and seeing clients even on the days when I wanted to just focus on office work. I wasn't spending time on creating products for my lesson plan store. I wasn't spending time on making YouTube videos. I wasn't spending time on writing a book. I was just working to make money (and of course because I truly like what I do). It was at this point that I realized that I couldn't add more to my schedule because the time just simply wasn't there. I also wasn't adding in the pieces of my business that would be a source of passive income, thus lightening up my day-to-day workload. I was still bound to certain time constraints for classes or counseling for income and low and behold, that cut my flexibility in half.

After a long chat with my beyond supportive boyfriend, I set goals for myself to cut the fat out of my business. My time was more valuable than what I was being paid for some classes and that needed to change. I also needed to actually set and stick to a schedule where I would only see clients and have classes on certain days. I stopped trying to join various committees and groups to network or invest my time in (for free). I stuck with the organizations I was already in and set boundaries for myself as to how involved I would be. I needed to block off time for content/product/program creation. I refused to be a slave to my own business anymore.

So, why I am I sharing all this with you? Well, for me, the easier route in private practice was to just go out and make that quick money. It was the instant gratification and certainly short-term. What was harder was investing (or starting to invest) my time into what would turn into a long-term income source. This long-term income source would free up more of my time so I could actually enjoy being self-employed. I could get back to more of my hobbies without feeling guilty that I wasn't working on the business. I could spend more time with my family without bringing work along. I could invest more time in personal development and enhancing my skills as a Dietitian. The positive side of this was simply endless.

If you ever get to this point in your practice, think to yourself what you truly want in being self-employed. Do you want to work like crazy for the goal of not having a boss or company telling you what to do or do you want to have more flexibility in what you do on the day-to-day, while still making money through passive income sources? Once you think about what your long-term goal is, break it down to determine short-term goals and plan your schedule around that. It is so easy to get sucked into the work and make money thought process; however, this process can be simplified, streamlined, and more so minimized to create more time for yourself. In the end, isn't that what we all want...more time?

To sum up this lengthy blog post, I want to say that when I think about my future, I want that future to include more time for myself, my family, and eventually my kids (I don't have any now). I don't want to be forced into 8 or 10 hour workdays to make enough money, even if it is on my own terms. This post is by no means me saying that if you want the traditional private practice that it is in some way less ideal or wrong for you. The beautiful thing about private practice is that YOU can create the type of business structure that will suite YOUR needs above anybody else.

So, leave me a comment and let me know your thoughts on this topic. What does your ideal private practice look like? What does your ideal workweek entail?

Stay tuned next week where I will be sharing my thoughts on how to set income goals and defining billable hours!

Preparing Yourself for Full-Time Private Practice

This post was originally going to be a recap of where I am in my practice; however, I got to talking to another Dietitian, who was in a similar position to me before I left my full-time job, and realized that some of the things I was telling her I had wished someone would have told me. So, alas, this post is all about figuring out if you are ready to make that leap from full-time employee to a self-employed business owner and how to prepare yourself for it.

Signs it is Time to Quit
There are a ton of articles out there about when you know it is time to quit your job. This could mean you get another full-time gig or go out on your own. From my experience and hearing from other RDs, here are a few of the signs that it may be time to quit your job: no current advancement available, overqualified for your position, lack of autonomy, dreading work, feeling stressed/anxious about work on a daily basis, and having your overall health suffer (limited sleep, poor food habits, etc). For my situation, in addition to the latter, I also knew that I was at the point that I could not grow my practice without leaving my full-time job.

Emotional Preparedness
If you have ever seriously thought about becoming a business-owner, you will go through a lot of different emotions. I would spend hours agonizing over my decision and second guessing myself. Was I going to be able to do this? Would I let everyone down? What if I failed? While you may always have ups and downs with your business, I would highly suggest working through your emotions in a productive way. Figure out your fears (check out my blog on tackling fears), create a plan, and find support (family, online groups, fellow entrepreneurs, etc). It will really help in the long-run when you are feeling discouraged or overwhelmed.

Financial Preparedness
Be prepared for the fact that you may not make the same level of income as you did in a full-time job. It may take 1-month or even a year to reach your financial goals. Everyone is in a different financial situation so the key here is to figure out what your comfort level is in terms of finances so you know the best time for YOU to make the leap towards becoming self-employed. One of the biggest things for me was knowing that I had built up a savings my whole life (thanks to my Dad) and I continued saving even more so during my last few months of working a full-time job. It also really helped to map out all of my financial obligations (rent, food, health insurance, etc) and determine how much I needed to make to either break-even or be able to save.

Practice Preparedness
I used to hear from some of my friends and family to just quit my job and pursue my private practice. They had such faith in me and knew how hard I worked at everything I did. Despite their encouragement, it still took me months to commit to leaving my job and becoming a sole proprietor. One thing I learned is that you have to do it on your own terms. Yes, sometimes you are there and just need a little push; however, if you absolutely know you are not ready, they don't be hasty and leap before you have a landing pad. I felt more comfortable taking the leap when I was already set-up as a provider (which included setting up my NPI, EIN, liability insurance, etc), had billed a few claims (successfully), figured out a method of taking payment (business and merchant accounts), had at least 1 referral source, and had set-up my social media/online presence. I am not saying you need to be totally sound and advanced at everything you do in your practice, because there is so much I learned along the way; however, if you are looking to stand on your own two feet within a month or so of being self-employed, you need to have some kind of base. Lastly, know yourself and your limits before taking the jump. Do you need to work on your organizational skills? Are you one to procrastinate? Know what your strengths are and play on them. Know what your weaknesses are and commit to either working towards strengthening or at least identify so you don't fall into poor business habits because of it.

One last thing I want to leave you with is that you cannot do everything without having one part of your life suffer. For me, I wasn't exercising enough and didn't get to enjoy being with friends or family as much as I had wanted. I was constantly stressed and stretched too thin. Honestly, true success to me now is knowing what my limits are, allowing time buffers in my day, and having the flexibility to balance all aspects of my life.

Are you thinking leaping towards a full-time private practice? Leave a comment and let me know if this post helped you to figure out your next move!

Check out my post on why I decided to make the leap to private practice!