How To Never Be A Broke Therapist: 5 Ways to Make Money as Therapist

How To Never Be A Broke Therapist

A Therapist in Session (Image: MedicalNewsToday)

While you as a therapists took to the profession out of the zeal to understand the human behaviour and help people with psychological/traumatic problems, you should never be broke in the process.

As a therapist, you are saddled with a tough job, and if you’re not compassionate about the service you’re rendering, it will only mar your career. You need to also market your service if you’re an independent Psychotherapist or into consulting and looking to grow your client base.

Marketing your expertise in this field is easy, like doctors, once you help a patient recover, the patient or their family will always refer relations and friends to you.

However, you should set a standard for yourself. It is one thing to have tons of clients and it is another to have high paying clients. And that’s where good marketing comes in. It should involve fixing a pricing list for your services.

Your job is more of service rendering, counselling most of the time. And the truth is that, if you’re overly compassionate with your patients, not charging enough for service rendered, you might end up looking for side jobs to meet up personal and family demands. You don’t want that.

So if you’re ready to learn how to never be a broke therapist ever again, and climb your way up the ladder to your financial freedom without taking on some other jobs. Then you should carefully read this article, carry out the actionables, and apply the nuggets in toto.

Because right here, I’ve analyzed how successful therapists make six figures online and offline, after a thorough research.

Three Golden Rules of Thumb from Successful Practitioners 

  1. Be Money-Driven Too; the general trait of 98% broke practitioners is the shyness to be money-driven. Whether you’re just starting out or a seasoned therapist, it’s likely you’ve for some period believed “money shouldn’t be the goal of a practitioner”. And chances are you still hold that belief. See, practitioners need money too and all those free workshops need to end. Except you’re not looking to turn your therapeutic skills into a real business. And in that case you shouldn’t be here reading this.
  2. Have Value for Your Time; time is the greatest asset recorded that is also diverse in value. So knowing the value of your time is as important as being a profit-oriented practitioner. You’ll be able to turn down shitty offers, create per hour pricing list/quotes and develop initiatives that bring in cold hard cash to the bank. Here is what Therapists earn averagely in the US.
  3. Invest in yourself; investing in yourself may be through buying books. And reading those books at the same time is time investment. That is using your time wisely. You may also purchase some online courses to up your therapeutic knowledge. Attending workshops too may be a better option than taking up low-paying therapeutic sessions. However, since marketing cuts into every field, investing in your marketing knowledge must also be a part of your agenda. Other type of investment may be creating free workshops you’re sure will open the way to great offers. This is more or less a marketing strategy common among successful business men.

With those three rules, these 5 ways to 6 figures as a therapist will work for you.

How to Make Money as a Therapist

1. Launch a Podcast

Google lately reported 10 million monthly search for “podcast” in 2019 and the numbers are adding up. Whereas, while people are listening to more podcasts, the podcast business is yet to receive full attention from investors. Which means getting in and making a name is less of a work now. But how do you make money podcasting as therapist?

The number one money-fetching funnel in podcasting is advertisement. Think of your podcast as a radio station. The more listeners you have, the more businesses you have coming your way for advertisement. And you do that for a fee. In the same manner, you will earn by charging your listeners per episode depending on the value of what you’re dishing out. And that’s why you need to take the rule number 3 above more seriously than anything. Another way to make money from your therapeutic podcast is through paid contents.

2. Blogging 

I know you’ve heard that there’s a lot of money in blogging enough for a life time. And chances are, you’ve blogged sometimes ago but couldn’t raise a dime. The problem is not really blogging but rather the fact that you didn’t choose the right niche. Choosing the right niche simply mean blogging about what you’re passionate about. So if you’ve blogged about technology or something outside of your interest, you must have thrown in the towel in your first few months. The thing is, blogging demands dedication. And you can only be dedicated to what you’re passionate about. Hence, when taking care of people’s health is your passion, blogging about it will help you record success no matter how long it takes. Moreover, there are so many affiliate programs available to therapy bloggers today which if you go for will turn your blog into a money machine. You can check out Online Therapy. Needless to say, blogging is the most effective way today to create a brand awareness for your therapy business and reach out to potential clients online.

3. Publish and Sell Books

Writing a book and getting it out there is easier today than before. So if you can write books on therapy in the form of DIY (Do it yourself) guides, there’s money in it for you. The icing on the cake is, once a book is published and an effective marketing strategy is done, the author keeps earning money on every copy sold. Hence, selling books is a lifetime investment to your business. Needless to say, you may even self-publish your work and sell it through your blog without having to spend a dime. Also, if you are looking for materials to equip your knowledge on the topic, BetterHelp offers tons of free article that can help you as a Therapist. The site has helped me a lot even as an entrepreneur.

4. Sell Outline Courses

On the internet, you may create courses and sell them to upcoming therapists. This is called selling virtual products online. These products are informative videos that teach special skills with high demands. This is a great business, especially if you’re the shy type who can’t lecture a crowd. All you need to do is create powerful tutorial videos and sell them online for a price. Meanwhile there are so many platforms you can sell your courses on today but I recommend Udemy. It is the most popular to get your course/tutorials at the front of millions of ready buyers.

5. Create Workshops

Workshops with other practitioners create opportunities for your expertise. It is a way to broaden your knowledge, display your communicative skills and get to know what’s trending in the field. A large percent of successful practitioners reported getting more of the best business opportunities they’ve had through workshops. Workshops pave way to valuable connections. Such as with influencers and big players of the industry. On the other side, workshops are also a great way to create brand awareness. They a cost-effective and potent way to sell yourself.

In conclusion, Psychotherapy is a wonderful profession, and psychotherapists have done a lot to help individuals and organizations like the military to recover completely personnel affected by war trauma etc. And as stated in this article, while doing this beautiful job, you should never get broke. You can find Therapists here.

To your success.

Disclosure: Please note that some links in this article are affiliate links and we may earn some commission from the links. However, this commission does not affect the price of the product/service to any buyer that choose to make purchase.
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Francis Nwokike

Francis is a Social Entrepreneur. Love discussing new business trends and Marketing tips. A Startup consultant. Will help you grow your business online.

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