What if the biggest thing standing between you and a thriving private practice isn’t your website, your marketing, or even your clinical skills — but your mindset?
In this episode of the Private Practice Elevation Podcast, Daniel talks with Dr. Charmain Jackman, licensed psychologist, founder of InnoPsych, and author of The Black Therapist’s Guide to Private Practice and Entrepreneurship. Charmain went from a part-time practice on the side to a full-time entrepreneur in 2021, and now spends much of her time coaching other therapists through the same journey.
The challenge a lot of therapists run into is this: grad school prepares you beautifully to be a clinician, but teaches you almost nothing about how to run a business. Pair that with the fear of failure, debt, and putting yourself out there — and it’s no wonder so many practices stall before they really get going.
If you’ve ever felt like business ownership just doesn’t come naturally to you, this conversation will hit home.
This Episode Answers…
1. Why didn’t grad school teach me how to run a business — and what do I do about it?
Charmain shares the moment she realized her training had prepared her perfectly to be a clinician but had given her zero knowledge about owning a practice. She actually left school believing she couldn’t run her own business — until she met early-career peers who already had thriving practices. The fix wasn’t more credentials. It was finding peers and mentors willing to share the practical steps: how to get an EIN, how to credential with insurance, how to open a business bank account. Community is the missing piece for most solo therapists — and it’s something you can build on purpose.
2. What’s a “money story,” and why should I care about mine?
Most therapists are quietly running a business on top of money beliefs they’ve never examined. Charmain was raised to save — which felt responsible — until she realized she’d spent months trying to build her own website to save money, instead of hiring an expert and using that time on revenue-generating work. Your money story shapes how you price your services, how you spend, and what you’ll invest in to grow. As she puts it: if your business can’t pay your salary, it’s not a business. It’s a hobby.
3. What are the most common mindset blocks therapists hit when starting or growing a practice?
Three big ones come up over and over: the fear of just starting (especially when walking away from a guaranteed paycheck), perfectionism (waiting until everything is just right before launching), and the belief that “I’m not the kind of person who promotes myself.” Charmain reminds therapists they have a responsibility to share what they know. If you don’t tell people what you do, they can’t find you — and they can’t be helped by you.
Other Key Takeaways:
- Why community is the most underrated business tool for solo practitioners
- The mindset difference between running a part-time side practice and a full-time business
- How to use a net worth exercise to surface your real money story
- Why auditing your software subscriptions twice a year can quietly boost your profit
- The cultural messages around self-promotion that hold many therapists back from marketing
- Why launching imperfect almost always beats waiting for perfect
- One simple habit — baby steps — that can change your entire entrepreneurial trajectory
Links mentioned in this episode:
- InnoPsych.com
- Get your copy of The Black Therapist’s Guide to Private Practice and Entrepreneurship
- Download an excerpt of the book at InnoPsych.com
Watch The Video:
This Episode Is Brought To You By The Following Sponsors:
Alma is on a mission to simplify access to high-quality, affordable mental health care by giving providers the tools they need to build thriving in-network private practices. When providers join Alma, they gain access to insurance support, teletherapy software, client referrals, automated billing and scheduling tools, and a vibrant community of clinicians who come together for education, training, and events.
Learn more about building a thriving private practice with Alma at helloalma.com/elevation.
About Dr. Charmain Jackman
Dr. Charmain Jackman is an award-winning psychologist, TEDx speaker, author, and leadership coach with over two decades of experience in mental health. She is the founder of InnoPsych, empowering lives by connecting individuals with therapists of color and championing emotional well-being in the workplace. Dr. Charmain’s work has been featured on CNN, the New York Times, NPR, Forbes, Essence, and the Oprah Daily. She is a graduate of the University of Southern Mississippi and trained as a pediatric forensic psychologist at Harvard Medical School.
About Daniel Fava
Daniel Fava is the owner and founder of Private Practice Elevation, a website and SEO agency focused on helping private practice owners create websites that increase their online visibility and attract more clients. Private Practice Elevation offers web design services, SEO (search engine optimization), and WordPress support to help private practice owners grow their businesses through online marketing.
Daniel lives in Atlanta, GA with his wife Liz, and two energetic boys. When he’s not working he enjoys hiking by the river, watching hockey, and enjoying a dram of bourbon.
