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NOTES FROM THE EDITOR

Buy the chicken, get lots of eggs

When I founded REdD Strategy I had no client base nor a marketing budget. Like many beginner entrepreneurs I was conflicted. "Should I invest my future earnings in attracting clients quickly or wait for clients that would finance my business growth?"

Worried about potential risks, I chose the latter. The choice worked for me then because I had time. There was no pressure for me to grow quickly, so I didn't.

Instead, I focused on raising my two little kids and slowly building a client base.

Was it the right decision then? Yes. Would I make the same decision today? Absolutely not.

With my priorities shifting from caregiving to providing, letting my business grow organically is simply not an option. A profitable business requires intentional growth. The old cliché "You need to spend money to make money" is a cliché because it's true.

Over the years in business I've invested tens of thousands of dollars in marketing and business development. Some investments were more successful than others, but they were still worth it because they gave me the confidence to grow.

Lately, I have talked to several therapists faced with the same dilemma I was years ago. I don't like pressuring people into making a financial decision (admittedly not a great sales tactic) and I can't help but empathize.

But if that's you worrying about potential risks of investing without the certainty of a solid client base, know this...

What we focus on, amplifies. The more you focus on attracting new clients, the higher are your chances of attracting them. Don't waste time pondering what comes first. Buy the chicken and get the eggs.

And now to the news!

SPONSORED BY

NOTEWORTHY

From branding to sales

Gary Vaynerchuk is one of the most listened to marketers online. His use of social media allowed him to grow his family business for a $3 million to $60 million in just five years.

Watch this video to find out what it takes to build a strong brand and connect with customers.

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BUSINESS AND PRIVATE PRACTICE

Money - a barrier to mental healthcare

27,600 people participated in a recent federal health survey. One of the key findings showed that 37% of people with medical debt delayed mental health care for their depression.

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INDUSTRY NEWS

Government funding for Women's Mental Health

The Biden administration is allocating $27.5 million in funding for community-based organizations focused on women dealing with behavioral or substance abuse issues.

Some of the funding will be coming through SAMHSA for expanding access to maternal health.

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FINAL THOUGHTS

I typically write this newsletter with a strong emphasis on the future. But this issue was focused on reflecting back and learning from the past.

With August's start next week, it's a worth-while exercise to look back so we can use that to get ready for the fall. What aspect of your practice will you be focusing on next month?

Respond if you'd like to share.

And now, I'm off to watch the Summer Olympics.

See you next week!

Avivit

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