3 min listen
How to set your fees in your psychology private practice with “pricing queen” Sally Farrant
How to set your fees in your psychology private practice with “pricing queen” Sally Farrant
ratings:
Length:
43 minutes
Released:
Dec 4, 2020
Format:
Podcast episode
Description
About SallySally Farrant is an accountant who goes by the name “pricing queen!” Sally has taken her skills from the corporate arena and now supports businesses to understand their accounts and price their products and services so they actually make profit.
The highlights● Pricing and setting fees is something that stresses out psychologists and therapists in private practice - I ask Sally why she is so passionate about pricing and how she got here 0:40
● Sally talks about how people tend to underprice and don’t consider all the costs 1:14
● Sally advises that you should put prices up by a small amount regularly 2:44
● I ask Sally what the consequences are of getting our pricing wrong 3:30
● We discuss avoiding burnout and being realistic about earnings, clients, hours, and the importance of pricing properly 4:43
● We explore how charging high fees can better enable you to help the more vulnerable and disadvantaged 11:05
● Sally advises on ways to implement price increases, and why it’s important not to make assumptions on what people can and can’t afford 15:30
● I explore why, as a therapist, it’s important to unpick why someone says they can’t afford it anymore, as it may not be about money 19:26
● We look at lower cost offerings, and how the client must be aware it’s a lesser offering 20:55
● Sally talks about recognising what you can and can’t manage 24:57
● Sally discusses why benchmarking the opposition is one of the biggest pricing mistakes 25:40
● We talk about advertising your prices to avoid anxiety 28:40
● Sally explains her pricing calculator and what needs to be taken into account 30:54
● We discuss the importance of considering why you went into private practice and being honest about what you and your family want and need 35:58
● I ask Sally how she helps gets people to back on track with their pricing 38:50
● I’m so excited to let you all know that Sally is going to be doing a masterclass for the psychology business school, our new course to help you build your practice in a way that allows you to live your values, help more people and avoid burnout. So if you know that you need to set your prices properly from the beginning (or put them right) make sure you come and join us.
Links for Sally’s Website:
https://www.businessgrowthbynumbers.com/ (https://www.businessgrowthbynumbers.com/)
Pricing calculator: https://www.businessgrowthbynumbers.com/pricing-calculator-sign-up (https://www.businessgrowthbynumbers.com/pricing-calculator-sign-up)
Pricing personality quiz: https://quiz.businessgrowthbynumbers.com/ (https://quiz.businessgrowthbynumbers.com/)
You can find Sally online at:
Instagram: https://www.instagram.com/thepricingqueen/ (https://www.instagram.com/thepricingqueen/)
LinkedIn: https://www.linkedin.com/in/sally-farrant/ (https://www.linkedin.com/in/sally-farrant/)
Feeling Too Overwhelmed To Be Creative?Do you sometimes wake up at 2 am worried that you’ve made a terrible error that will bring professional ruin upon you and disgrace your family?
I’m laughing now but when I first set up in private practice I was completely terrified that I had “missed” something big when setting up insurance or data protection.
Even now, three years in, I sometimes catch myself wondering if I have really covered all the bases.
It is hard, no impossible, to think creatively and have the impact you should be having in your practice if you aren’t confident that you have a secure business. BUT it can be...
The highlights● Pricing and setting fees is something that stresses out psychologists and therapists in private practice - I ask Sally why she is so passionate about pricing and how she got here 0:40
● Sally talks about how people tend to underprice and don’t consider all the costs 1:14
● Sally advises that you should put prices up by a small amount regularly 2:44
● I ask Sally what the consequences are of getting our pricing wrong 3:30
● We discuss avoiding burnout and being realistic about earnings, clients, hours, and the importance of pricing properly 4:43
● We explore how charging high fees can better enable you to help the more vulnerable and disadvantaged 11:05
● Sally advises on ways to implement price increases, and why it’s important not to make assumptions on what people can and can’t afford 15:30
● I explore why, as a therapist, it’s important to unpick why someone says they can’t afford it anymore, as it may not be about money 19:26
● We look at lower cost offerings, and how the client must be aware it’s a lesser offering 20:55
● Sally talks about recognising what you can and can’t manage 24:57
● Sally discusses why benchmarking the opposition is one of the biggest pricing mistakes 25:40
● We talk about advertising your prices to avoid anxiety 28:40
● Sally explains her pricing calculator and what needs to be taken into account 30:54
● We discuss the importance of considering why you went into private practice and being honest about what you and your family want and need 35:58
● I ask Sally how she helps gets people to back on track with their pricing 38:50
● I’m so excited to let you all know that Sally is going to be doing a masterclass for the psychology business school, our new course to help you build your practice in a way that allows you to live your values, help more people and avoid burnout. So if you know that you need to set your prices properly from the beginning (or put them right) make sure you come and join us.
Links for Sally’s Website:
https://www.businessgrowthbynumbers.com/ (https://www.businessgrowthbynumbers.com/)
Pricing calculator: https://www.businessgrowthbynumbers.com/pricing-calculator-sign-up (https://www.businessgrowthbynumbers.com/pricing-calculator-sign-up)
Pricing personality quiz: https://quiz.businessgrowthbynumbers.com/ (https://quiz.businessgrowthbynumbers.com/)
You can find Sally online at:
Instagram: https://www.instagram.com/thepricingqueen/ (https://www.instagram.com/thepricingqueen/)
LinkedIn: https://www.linkedin.com/in/sally-farrant/ (https://www.linkedin.com/in/sally-farrant/)
Feeling Too Overwhelmed To Be Creative?Do you sometimes wake up at 2 am worried that you’ve made a terrible error that will bring professional ruin upon you and disgrace your family?
I’m laughing now but when I first set up in private practice I was completely terrified that I had “missed” something big when setting up insurance or data protection.
Even now, three years in, I sometimes catch myself wondering if I have really covered all the bases.
It is hard, no impossible, to think creatively and have the impact you should be having in your practice if you aren’t confident that you have a secure business. BUT it can be...
Released:
Dec 4, 2020
Format:
Podcast episode
Titles in the series (100)
Introducing the Business of Psychology Podcast by The Business of Psychology