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PARTNERS AND SPONSORS

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NOTES FROM THE EDITOR

The Path Most Traveled

Last weekend, taking a break from podcasts, I listened to a book that's been on my list for years.

"The Richest Man in Babylon" is on every financial expert's top 10 and now I know why. In just over 3 hours, I've learned more about money than I had in my 2 years of Grad School.

The book is primarily focusing on 7 money principles. Today, I'll talk about principle 4: Guard thy treasures from loss. Simply put, don't invest your money in the wrong thing.

Even simpler, consult with experts, not amateurs.

Who are the experts

Sometimes it's hard to know who a true expert is. Many people around us pretend to be good at something without actually backing their claims with experience or credentials.

The way I see it, an expert is a person who's acquired wisdom and experience on a specific topic through actively working on it for a long time.

Who's not an expert

Sometimes we can confuse non-experts with experts simply because they succeeded in a particular venture. For example, your colleague may appear like a marketing expert just because they've built a successful practice.

But their success may be due to many things besides marketing. Things like luck, diligence, timing, resources or geography may have had a part in this success.

Why taking advice from non-experts is a bad idea

Have you seen Reddit threads of therapists asking other therapists how to market their practice? I have. Their advice varies from networking to Google Ads.

It's a brainstorming session, not advice. It's like me advising you to buy stocks if you want to get wealthy without specifying which stocks and how much to buy.

Innocuous enough on its own, this type of advice is confusing at best and a waste of time and money at its worst.

What to do instead

Depending on your goals, seek out expert advice from people who're focused on their area of expertise.

For bookkeeping advice, ask a bookkeeper. For legal, ask a lawyer. And for marketing, ask me.

My job isn’t to give you a list of things to do. It’s to help you understand what actually matters and build a system that keeps your caseload full without burning you out.

And now to the news!

NOTEWORTHY

Cedars-Sinai’s AI Therapy Robot (Xaia)

Cedars-Sinai developed a VR/AI robot (Xaia) that patients can interact with using Apple Vision Pro, blending tech and mental health in a novel way.

Why it matters: It shows how big institutions experiment with visibility and client engagement via experiential tech.

BUSINESS AND PRIVATE PRACTICE

Balance & Scaling in Private Practice

A recent Practice of the Practice episode exploring how to scale a practice while maintaining balance and avoiding burnout.

Why it matters: Growth without collapse is a core tension for many practice owners.

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INDUSTRY NEWS

FDA to Review Generative AI Mental Health Devices

The FDA will convene a committee on Nov. 6 to assess AI mental health tools, possibly redefining how they’re regulated.

Why it matters: Those tools may start to require disclosure, evidence, or even licensing shifting the playing field for smaller providers.

FINAL THOUGHTS

Anyone can share tips. Few can build a system that actually works.

If you learn to tell the difference, you’ll never waste another dollar or hour on the wrong thing.

See you next week,

Avivit