Business Conversations with Your Partner
March 14, 2023
Cindy McAtee, LCSW, LCAC
Now that you’ve realized being a private practice therapist offers you greater earning potential, the freedom to help your ideal client niche, and control over your work schedule, you’re now ready to get started! But maybe there’s still a huge hurdle ahead which is “the talk.” And no, we don’t mean the birds and the bees talk or the “it’s not you, it’s me,” talk!
Nope, this talk is about the questions a partner is likely to ask once you’ve told them you’d like to open your own private practice. Now we know that your anxiety might be high, especially if there’s been past money fears or arguing about finances in your relationship.
You’re nervous but also know it’s important from a business and relationship perspective to talk through questions and concerns. Here are a few of our suggestions to help make these conversations easier!
Be honest About Your Why
It's important to be honest with your partner about your business goals. Be prepared to share why you want to start a private practice and what you hope to achieve as a business owner. Discuss additional income revenue interests outside of offering counseling sessions if applicable.
Address Your Partner’s Financial Questions/Concerns
Express your understanding of your family’s financial situation. If your partner is worried about money, it's important to listen to their concerns and to talk through the concerns. Remember, they likely want you to shine in your career but if they’ve always worked for an employer, this may be new for them!
Factoring this in increases the likelihood that you’ll come up with ideas to reduce household expenses as you’re building your business.Starting a private practice doesn’t have to be expensive. There may be options to share costs with other providers in using office space or to do virtual work.
Check out our free membership for free financial tools.
Identify Any Necessary Work or Household Schedule Changes
Brainstorm schedule changes, so that you and your partner are on the same page about what starting a private practice will involve for your family.
Talking through your proposed work schedule, the family schedule, and a plan for making adjustments keeps the lines of communication open in your relationship.You may also consider starting off part time in private practice if there’s concerns about going all in, all at once.
It’s been said that, “teamwork makes the dream work!”
Being clear about your reasons for starting a private practice, having open communication about financial concerns, and talking through schedule changes required to keep business and family matters managed will lessen fears about starting a business. And we’re here to help guide you from start to finish in succeeding in private practice!