*Last updated Feb 9, 2023
As a counselor or therapist, passive income seems like a dream, right? Do you love the idea of passive income?
We sure do! We know how it feels to go to bed and wake up with more money in your account than when you went to sleep. But we also know what it takes to get that to happen.
How to Develop a Passive Income Stream as a Therapist
When developing your passive income stream, it has to start with something you want to sell. You need to have an idea of what you want to create.
Are you completely stuck and shut down when it comes to even listing out passive income ideas? Sometimes when we’ve been working for a long time, are burnt out, or fearful our creativity can get completely hampered.
Seek Out Passive Income Inspiration
Sometimes, looking at passive income ideas can help unlock that creativity. Except - we also know that if you start looking to your colleagues for inspiration, it can start to feel like competition or comparison and that can also hold you back from creating.
We thought it would be helpful to create a list of passive income ideas for your practice, from the perspective of two private practice coaches who have seen a lot of people create other streams of income Beyond the Couch. But, before we list all of these fabulous passive income ideas keep the following in mind:
Find a Passive Income Stream That Best Supports Your Clients
Let’s have a quick chat. It is important for you to know deep down in your heart that simply following a passive income recipe you find online is likely NOT the best way to make passive income work for you. We will be talking more about how to choose and evaluate passive income ideas- but just remember- you need something that fits you and your clients, not just “something.”
If you are overwhelmed, feeling stressed financially, or burnt out, you might think that just anything will work to fix the problem. It won’t. Or, at least, we haven’t met anyone to date who has changed their life, business, finances, and joy by choosing a passive income stream this way!
This list is simply meant to get your creative juices flowing and to see the possibilities beyond what you may be doing now to earn income in your private practice. Please remember this list is all about PASSIVE income, meaning that it is not reliant on you being somewhere at a specific time or place like podcasting or speaking.
List of Passive Income Ideas for Counselors
Create a workbook that could help your ideal client before they ever enter therapy.
Create a workbook that other clinicians could use along with clients who are in therapy.
Create an online training that could help your ideal clients before they ever enter therapy.
Create an online training that is meant to help clients already in therapy.
Create an online training for therapists who are working with your ideal clients to teach them skills working for you.
Create a texting program that sends out daily, weekly, or monthly texts to your ideal clients that are psycho-educational in nature and focused on helping them to stay aligned with their needs or goals.
Create an app that helps your ideal clients practice the skills daily that you teach in session.
Create an app that helps your ideal client who is not in treatment.
Create an app that helps your ideal client maintain treatment gains when they complete treatment.
Create an online psycho-educational course that could help your ideal clients before they ever enter therapy (think a workbook or book but in a more multimedia format)
Create an online psycho-educational course that is meant to supplement clients already in psychotherapy (think a workbook or book but in a more multimedia format)
Create a special journal for your ideal client with writing prompts
Create an art therapy subscription service with an art therapy activity each month
Create an online database of meditations or other tools for people to download
Create inspirational products that can be worn or used such a shirts, hats, card decks, or posters
Why You Should Focus on Client-Facing Materials
Is your mind starting to open up? Are you starting to get inspired? Think outside the box? Note that we focused primarily on client-facing materials vs therapist-facing materials.
Why? Because you already have marketing focused on your ideal client and it will be LESS passive if you focus on other therapists AKA- you add a new niche to your private practice! Part of the beauty of passive income is using what you have already created and formed to make the passive income that much easier. Don’t start from scratch if you don’t have to.
Be sure to check out Business School for Therapists where we provide more advice on passive income and multiple streams of income for therapists.
