I've got so much information that I want to share with self-employed psychologists and contractors.  In fact, it was the driving reason behind me putting this website together.

 

On the Business side of things there are the 5 Elements of Business which I'll brieflly describe below.   The articles I've written are classified under these elements.  

 

If you've come to this page thinking about becoming a self-employed psychologist or contractor visit my webpage Starting Your Own Psychology Business.

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Of course,  personal finances cannot be neglected.  If you'd like more detail on the 8 Key Areas of Personal Finance - which, in case you're wondering are: 

• Personal Budgeting

• Saving

• Investment

• Debt

• Tax

• Insurance

• Retirement Planning

• Estate Planning 

then head over to the Personal Finances page.

 

 

 

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While you're here, be sure to download my BAS Excel Worksheet for Sole Trader Psychologists.  

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The 5 Elements of a Business

Starting a successful psychology business takes hard work, dedication, and the right framework.

 

Over the years, and with trial and error, I've formulated a business framework.  While it's suitable to all businesses, I've found that it's particularly suited to Psychology Businesses as a clear overview of the components that make up a business and that need to be functioning well for business success.

 

This framework focuses on five key elements that are essential to the success of any psychology business.

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• First, define your business values, vision, and goals. This sets the foundation for your Business DNA and guides all other decision-making.

• Next, establish effective systems and processes to streamline your operations and ensure consistent delivery of services.

• The people who make up your staff and support teams are a critical component of your business. Investing in the growth and development of your staff is essential for success.  The other people vital to your success are your support teams, by that I mean people like your accountant, your bookkeeper, the doctors who refer clients to you, your supervisor, your lawyer etc.  

• Your clients are the lifeblood of your business, and understanding their needs and wants is key to providing them with the best possible experience.

• Finally, pay close attention to your financials and numbers. Financial management is essential for the long-term success of your business, and having a clear understanding of your income, expenses, and cash flow is crucial.

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