Interested in starting your own entrepreneurial journey in mental wellness but unsure what to expect? Then read up on our interview with Neil Colvin, Founder of TheraFi, located in Columbus, OH, USA.
What's your business, and who are your customers?
My business is online mental health therapy. I have internal and external customers. The external customers are residents in Ohio that are seeking help for themselves, their families, and loved ones with a variety of struggles that they may be facing. My internal customers are my employees. The mental health career paths are usually pretty tough on the practitioner because they don't typically get much support, and they are underpaid for their level of expertise and education. Most starting out make less than they would with no degree and be working at a fast food chain. And to that point, I've met quite a few people that left the mental health career field to pursue working as bartenders, waitresses, and managers at restaurants because they need to pay their bills. So, for my internal customers, I make sure that we take care of as many barriers to success that they'd typically face working for a private practice or in a hospital setting while offering more benefits. My thought is that if I take care of the employees, they will take care of our clients.
Tell us about yourself
What got me started in this area is my sister (Sarah Steinbrecher). She decided that she wanted to leave her business as a salon owner and go to college and become a social worker. We figured out that with no degree, she makes twice as much as she would with a Masters's degree. That's a horrifying thought. After researching and interviewing various mental health professionals with different degrees and in different states, it became clear to me that the cost of mental health should be enough to pay the mental health professional enough to keep them from leaving their career field. And, in fact, it does. The problem is that most hospitals and private practices feel that in the beginning because they have to train their practitioners, and the practitioners may leave after a short while. Well, they normally do leave, but it is because they aren't treated well, they get horrible benefits, and they are underpaid and overworked. Those that make it through the gauntlet of pain and pay their dues eventually get promoted. This is the same issue that you see in most businesses. The inverse is true as well. Treat your employees well, and most will stay. Yes, some will leave, but the cost of constantly training new employees should make it clear that it is worth investing in your new hires.
What's your biggest accomplishment as a business owner?
Getting started. That was a huge pain. Most mental health practitioners think I'm crazy for trying this and not being from this career field. In fact, I had a few ask me if it was legal for me to own a practice. I also had no less than ten mental health practitioners say that they hoped it worked out, but they just didn't think it could, so they wouldn't join in... even when I showed them the math, walked them through the actual benefits package and documentation directly from the sources. They kept saying that they thought it was too good to be true. Eventually, I found the mix of team members that actually keep it all going. Now that we have some traction, I see 2023 as being a year of growth for us.
What's one of the hardest things that comes with being a business owner?
Answering questions. As I mentioned, we have a team, and of course, everyone will run into challenges or have questions, and they ask me to come up with an answer. So, I've become tech support, troubleshooting our systems and phone lines, figuring out benefits packages, figuring out payroll and accounting, and a lot more. On the bright side, as we started getting things sorted out, the team started growing and taking on more responsibilities, so that has been very helpful.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Do it yourself, and don't waste money on anyone that says they have a shortcut you can take for a price because they really don't.
- Working on the business allows you to learn about the challenges that both you and your competitors face.
- Take frequent breaks because you are the one pushing it all forward. You can't afford to burn out, which means you need to take time out for yourself. Once you've recharged a bit, you'll often see another way to approach your challenges.
Where can people find you and your business?
Website: https://www.thera-fi.com/
Facebook: https://www.facebook.com/TheraFiguy
Instagram: https://www.instagram.com/therafiguy/
LinkedIn: https://www.linkedin.com/company/thera-fi/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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