After ten years in business, Terry Hefter was concerned that her group psychotherapy practice was not generating enough profit for gross revenue earned.
She wanted to understand why and what she could do about it. So she turned to SCORE Chicago for expert advice.
Working with her volunteer counselor, Mitchell Morris, they devised several new marketing strategies to increase both revenues and profits. She added marketing outreach such as contacting schools, primary care physicians, psychiatrists, chiropractors, and insurance companies. Hefter listed her business in several on line directories. She added periodic mailings to past clients. Finally, Hefter and her associates network at meetings with representatives of employee assistance programs to get referrals.
As Hefter puts it, SCORE gave me the opportunity to meet Mitchell Morris, who was able to educate me in areas to which I had not been exposed, because I had never been in business before. Mitchell suggested creative ways for me to improve my business from how to spend less to ways to look at my numbers and how to generate more referrals. I continue to utilize his ideas and gain from his experience and sharing 3 years later.
Her association with SCORE changed Hefter’s perspective on her business potential: This invaluable service has provided me with perspective on what I should be able to earn and accomplish. Now I think of myself as having the ability to earn far more than I thought possible and have a business that is respected. I am so very grateful that SCORE exists and that Mitchell Morris so unselfishly gives his time and expertise to novices like me.
Hefter began private practice in 1995 and in 1996 formed her group practice. Terry Hefter Associates, LLC, presently consists of fifteen licensed psychotherapists and is located on the north side of Chicago. The group treats almost all psychological and behavioral disorders, including but not limited to depression, anxiety, relationship issues and addictions, and counsels children and adolescents as well as adults.
As a result, revenues and profits increased 14% in 2006 and again 16% in 2007. Her profit percentage increased from 7.7% in 2004 to 18% in 2007.