Jo Muirhead is the founder of jomuirhead.com where she helps health professionals build successful, sustainable, and profitable practices.
Jo is also a rehabilitation counsellor and the director and principal consultant of Purple Co, the Purpose for People Company, where they help people return to work following injury, illness, or trauma.
In this talk, Jo shares insights to help you create a successful online income stream as a therapist in private practice.
- Why building income streams matter
- Some solid ideas for online income streams
- The mindset shifts you may need in order to be awesome at making and marketing a service or product.
- Some example stories of therapists that have built successful income streams.
- One thing you can do right now to start getting on the right track towards creating your online income stream.
Watch the video to get these multiple income stream insights and more. Session notes and links can be found below the video embed.
Session Notes + Links
Creating Online Income Streams Really Matters
At some point, you’ll realize that you can’t do more than see one on one clients. That will cap your income. There’s no more money to be made because you’re working at your limit.
So online income streams allow you to increase your wealth, for one. They also allow you to take a break so that you don’t have to be in the office all the time and money is still flowing in.
Online income streams also gives you a variety in what you do too. If you are yearning for doing more than just seeing clients, creating and online income stream can help.
“An online income stream creates choice and choice for me is one of the biggest contributors to freedom” – Jo
If you have an online income stream, you’re not constricted to where you live. It’s possible to contribute to the world and leave the world a better place than you found it.
You can also help people globally from your own home. For instance, Jo has clients in Japan.
People can see the impact that you’re making and you can feel the impact you are making too.
7 Ideas For Online Income Streams
- Building an app
- Online groups or membership sites
- Online training, teaching, or e-courses
- Speaking including online and in-person speaking engagements and webinars
- Write including paid for blogging, write a book, ebook
- Affiliate marketing (which doesn’t get enough cred)
- YouTube (if you get enough viewers youtube will pay you)
Idea: Anxiety and depression are an epidemic – chronic pain – pain is everywhere. All three of these topics need more content out there about them. What about starting a youtube channel around these issues?
The Mindset Shift For Online Income Streams
One important mindset shift you may need is realizing that there is nothing magic from just being in the same physical space. This was the biggest mindset shift that happened for Jo.
You have to believe that your information and the way you present that information can actually add incredible value even if they aren’t in the room with you.
Once you can get over that not-in-the-room-thing, you can move forward rapidly.
You also have to understand that you have to go into a new level of learning with marketing. After creating a product or service as an online income stream, many therapists are exhausted, but have yet to invest any time or energy or resources into the marketing of it.
“Your product is useless if no one knows about it and the only way that people will know about it is if you tell them” – Jo
The easy thing is the creation of the product, the more difficult thing is learning how to market it. You’ll then need to deconstruct the type of learning that you’ll need.
It’s almost like starting another business. Write a bit of a project plan. There is much to do so don’t underestimate the learning that you’re about to do.
That said, don’t freak out about the technology. There are things to learn there as well but keeping in mind that once you learn it, you’ll be able to use that skill over and over again.
Prepare yourself to develop a skillset around online income streams including the online marketing piece which will include technology.
(And hint: no one is going to buy your stuff because you hold your credentials up in front of your face. It will take a bit more than that.)
How To Take Content You Already Have And Turn It Into An Income Stream
One example of a way to take content you already have and turn it into an income stream is looking towards your blog. Jo had a client that had been blogging for a while. She accessed her blog posts, found 12 strong and connected posts, and turned them into a workbook.
These 12 posts were chosen to create a workbook on a topic that she wanted to be known for.
Once she started selling it, she leveraged her growing position as an expert in the topic to gain speaking engagements globally.
Another example of taking content you already have and using it to create a product for an income stream is another one of Jo’s clients who had an excellent policy and procedures manual that was created for herself and her staff.
This client was then able to sell it as a white label (unbranded) product to other therapists. So there was the product itself but she built on that further and started doing consultancy on how therapists could make the policy work for them.
In this case, there was so much interest from other therapists on getting her policy and procedures manual that she was able to pre-sell it. She basically got paid to create it and then some.
Yet another example of one of Jo’s clients that created an online income stream from preexisting content is a client who had a side-hobby of photography. They were taking photos for themselves and their own social media. People started noticing how great their photos were and through that, this client was able to develop an income stream of selling photos.
The photography idea is a great example of an income stream that doesn’t have to be related to what you are already doing. You can also develop an income stream that has to do with a passion that is separate from therapy services.
You also don’t have to have the most perfect online product competing with the the most perfect other online products.
You can do something simpler and based on content you already have. Keeping things uncomplicated will also help you manage your own expectations. People often start at ground zero and want to be at 100 without realizing that 99 steps are still to be taken.
We have so many opportunities, we should take them.
One Thing You Can Do Right Now Towards an Online Income Stream
Here’s an exercise to go through for an idea on creating an online income product:
What are the 5 things you wish every client knew before they turned up in your practice? Take those 5 things and you have…
…5 modules for a training program
…5 modules for a workbook
…5 modules for a video series
…5 modules for a webinar
Remember, just because it is something that is easy for you, and it feels like common sense, that’s only because you spent 5 years and lots of money getting there.
The answer you hold to this question is the bridge that needs to be built towards demystifying therapy services and how they can help. The answer empowers clients to make a better decision.
Bonus second thing you can do is a mindset shift around your expectations: you can’t expect yourself to just learn online marketing. No one has built a successful online business without investing: website, SEO, copywriting, coaching, and more are all examples of investments that could be made. There will need to be a time and money investment.
Jo has created a special offer to accompany this video which answers the question, what’s the next natural thing? What’s the best use of your time, energy, and resources?
To get targeted guidance answering these questions, check out Jo’s Special Offer – Idea to Income
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