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Is opening my own practice a good idea?

I would like to open my own practice after I get my PHD in clinical psychology. Many people have to me that it may not be such a great idea to do so. What might your thoughts on this be? #college-major

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Elaine’s Answer

I am not familiar with your field but will give you a general common sense answer.


When you start in any field it is always good in my opinion to work with someone who had experience to learn more of what you have to in the real world. All the schooling gives you theories, ideas, examples, but when you get into the real world there are other things you will come up against that being able to brainstorm with someone who works with you who had experience can be very helpful. When you have had enough practical world experience them opening your own practice might be a good idea or you might like sharing ideas with others in a joint practice. Good luck

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Christopher’s Answer

From a financial prospective, it also depends on the level financial risk you can take on. Starting a business is going to come with expenses, and you will need to make sure that you are self promoting and obtaining clients to help cover the costs. With hard work you could become successful, but you are taking on a risk for a brand new venture that you probably won't have a great deal of experience in. Finding a job first to give connections and experience while providing a steady salary can be a great way to learn the tricks of the trade and build up the savings required before you venture off to build up your own business.
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