ABMP is the largest membership association in the massage and bodywork profession, and with good reason. We care about our members and support their efforts to build a thriving massage career. If you want some good reasons to join a professional organization—Take 5!
Reasons to Join ABMP
Use ABMP’s Estimating Private Practice Income Worksheet to better understand your financial needs and goals related to starting and maintaining your own massage business.
Estimating Your Private Practice Income
Step 3: Explore Private Practice
The biggest decision you will likely have to make about your career is if you are going to be an employee, self-employed, or work in a blended career where you do a little of both. In the last Student Life newsletter, we discussed working as an employee and the difference between employee and independent contractor. Now, let’s explore working in private practice and the characteristics of an entrepreneur.
The Basics of Private Practice
People who work in private practice are usually self-employed and structure their businesses as sole proprietorships. The business can be operated under your own name or under a business name, and your business profit or loss is reported on Schedule C of your individual tax return. All you need to set up a sole proprietorship is a business license issued by the city or county where your business operates. You may also want to explore other business structures such as partnerships, limited liability companies (LLC), or corporations.
Self-employment allows you to set your own work hours, create your own work environment, and have control over the types of clients you see. The drawback is there is no safety net. You will only make a living if you can attract and retain clients. You also have to be responsible for complying with state regulations, bookkeeping, and marketing your business. If you want to be self-employed, you must be willing and eager to become a businessperson, as well as a therapist. Let’s discuss the characteristics of people who own their own businesses as part of this career exploration.
Characteristics of an Entrepreneur
An entrepreneur is a person who owns his or her own company, enterprise, or venture, and assumes significant accountability for the risks and outcomes. Numerous studies have been conducted to determine the personality characteristics of people who are successfully self-employed or own their own businesses. In his book The Young Entrepreneur’s Guide to Starting and Running a Business, Steve Mariotti lists many of the following characteristics of an entrepreneur. Additional characteristics that are particularly important for a massage entrepreneur have also been included.
Place a checkmark by the traits you think you have already, and an X by the traits you think you can develop. In a journal, or on a separate piece of paper, answer the questions that are asked under each trait. Don’t be discouraged if you find you possess few of the traits listed here. Entrepreneurship is not a good fit for all massage therapists, and many therapists find success and happiness working as employees. The point is to discover where you can best find personal success right now. Remember, you will continue to grow as you gain life experience and may be ready for entrepreneurship later in your career, even if you aren’t ready for it now.
- Characteristic 1: Adaptability. Are you able to cope with new situations and find creative solutions to problems? Are you flexible and able to look at opportunities and challenges from a number of different perspectives? Describe one situation where you demonstrated adaptability to overcome an obstacle.
- Characteristic 2: Competitiveness. Are you willing to compete with, and test yourself against, others? How will you respond to competition presented by other massage therapists in your local area who are trying to obtain the same clients you are trying to obtain?
- Characteristic 3: Confidence. Do you believe that you can do what you set out to do? Explain the ways you demonstrate confidence in your life now and describe how you developed your current level of confidence. How might you gain more confidence?
- Characteristic 4: Discipline. Are you able to stay focused and stick to a schedule and deadlines? Describe a time in your life when you had to be disciplined to reach an important goal.
- Characteristic 5: Drive. Are you willing and able to work hard to achieve your goals? People with drive demonstrate high levels of motivation, energy, and initiative, and have good physical health. Describe an event where you needed to sustain your drive over a period of time in order to achieve an important goal. How did you maintain your energy and motivation?
- Characteristic 6: Honesty. Are you committed to telling people the truth, even when it causes discomfort? When you make a promise, do you stand by your word? Do you deal with all people fairly? Describe a time when you had to be honest with someone even though it was difficult.
- Characteristic 7: Organization. Are you able to plan and structure your life in a logical manner? Are you able to place tasks in an order to structure the completion of a project? Are you able to differentiate between priorities so that you finish important tasks first? Describe a situation where you had to organize and follow through on tasks to complete a project.
- Characteristic 8: Perseverance. Are you able to keep your goals in sight even when obstacles present challenges? Do you refuse to quit and keep working at a goal or project even if you have encountered difficulties or failures? Describe an event where you had to persevere even when you were faced with obstacles.
- Characteristic 9: Persuasiveness. Do you have a knack for convincing people to see your point of view? Are you able to get people interested in your ideas? Describe an event where you had to win people to your side to achieve your goals.
- Characteristic 10: Risk Taking. Are you willing to expose yourself to possible losses to try a new venture? Explain a time in your life when you took a risk and succeeded. Explain a time in your life when you took a risk and failed. What did you learn from these experiences that might help you in your massage career?
- Characteristic 11: Thinking Ability. Are you able to analyze problems and come up with possible solutions? Can you look at projects from multiple perspectives to generate creative ideas? Do you readily see ways to overcome obstacles or rework processes to be more efficient? Explain a time when you had to think creatively, analytically, or critically to solve a problem or complete a project.
- Characteristic 12: Human Relationships. Are you able to listen to other people and understand their points of view? Can you empathize with people to comprehend what they are feeling and why they are behaving in a certain way? Do you strive to reach a fair resolution when you have a conflict with another person? Describe a time in your life when you had to let go of your own point of view to reach a resolution in a conflict with another. What did you learn from the experience?
- Characteristic 13: Communication. Are you able to verbally express your ideas and point of view? Do you share your thoughts, ideas, and opinions openly with others? Do you possess a strong health-care vocabulary, and do you feel comfortable conversing about massage and the body? Do you possess basic writing skills? Describe your level of communication skills and give one example of a time you had to communicate in a written format.
- Characteristic 14: Vision. Are you able to see the end result of your goals while you are working to achieve them? Describe a time where you had to hold a vision of a goal in your mind while you worked toward that goal. Did fears and doubts cloud your vision? What was the outcome?
- Characteristic 15: Technical Skills. Are your draping skills, hands-on massage skills, and body mechanics solid? Are you able to observe new techniques and integrate them with your existing hands-on skills? Do you constantly strive to improve your hands-on skills? Describe your current technical skill level and list three areas where you are actively striving for improvement.
Based on your findings, do you feel you would be better suited to work as an employee directly after graduation or are you ready to open a private practice right after school? Journal about your discovery and how this makes you feel. Perhaps your plans and your current characteristics match. Perhaps you need to change your plans to better capitalize on your strengths. It might also be helpful to download the worksheet “Estimating Private Practice Income,” from the Picked Fresh section of this newsletter, and complete this activity as part of an exploration of what it means to work in private practice.
In upcoming newsletters, we’ll explore blended careers, specialization, and other related topics.