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AdvantagesDisadvantagesYou are the boss – You decide (not someone above you) what you will do and how you will do itYou can work wherever you want (i.e., office location)You can create an office environment that best fits your needsYou have great flexibility in when you see clients – You set your own hours and when you take time offYou can set your own fees (for out-of-pocket clients), including how much money you want to makeYou can work with any type of client you want to (with limits if taking insurance)You can have your own approach/style to counseling (within limits – evidence-based)You can create jobs for others by hiring staff for assistance (e.g., scheduling, insurance claims) or additional counselorsYou can pursue your own causes (e.g., what impact you have on your local community)If your practice goes well, you have no one to credit but yourself – financial and emotional rewardsYou are the boss – you are responsible for everything (e.g., counseling, scheduling, paperwork, working with managed care, record keeping, paying bills) unless others are hiredYou will most likely be working much more than 40 hours a week, at least to start – may influence quality of relationships with family and friendsYou can feel isolated and lonely working by yourselfIf you take time off (e.g., sick or vacation) you do not make moneyYou do not receive a steady, predictable paycheck – income will fluctuate with client load and unpredictable factors (e.g., weather, economy)There can be a lot of overhead expenses (e.g. leasing office space, utilities, marketing, office supplies)You are responsible for your own benefits (e.g., health and dental insurance, retirement, disability)You have to work directly with managed care organizations (not fun) – This ranges from trying to get on insurance panels to requesting additional sessions for clients to getting reimbursed for your servicesYou are responsible for protecting your practice (e.g., malpractice and business insurance)You have to have good business skills (e.g., financial management, paying bills and taxes, marketing, website)If your practice does not go well, you have no one to blame but yourself – financial and emotional losses ................
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