22 | Diversifying Your Lactation Private Practice

By diversifying – opening up multiple channels of income within – your lactation consulting business, you are building yourself a sturdy foundation to prepare for lean market times while connecting with more families. This could include accepting both insurance and self-pay clients, writing a course or book, creating a resource or piece of merchandise for others to purchase, or developing continuing education. The sky’s the limit!“We can use our passions for more things.” In this episode, we will cover:Diversification in business essentially means opening up multiple channels of incomeHaving multiple income streams can help sustain your business during lean times because you will not be relying on any one thing and you will be competitive in the marketIn the lactation consulting industry, one of the main forms of diversification is accepting insurance and self-pay clientsAnnie and Leah also advise people to set up opportunities for passive income such as creating a continuing education course, handouts, YouTube content, and writing books that are all accessible through a paywall that you write once but continue to earn from as people access the contentConsider what other topics you are interested or talented in and start integrating those things into your lactation business. Ideas include QuickBooks, courses, engineering, research, writing, graphic design, merchandise, etc.When venturing into the world of renting and selling pumps, try to remain as impartial towards all of the companies as possible by not accepting any “free gifts” they want to give youThere is often a fine ethical line when combining two of your business elements, so it is always best to disclose your status to the client ahead of timeRemember to stay up-to-date on the applicable laws and insurance regulations, particularly if you are doing business with people in countries outside the U.S.Keep in mind the strategies about time management previously shared on this podcast and be smart about the ideas you decide to pursue This episode is sponsored by Acuity Scheduling for forms and payments – They are providing LBC podcast listeners with a 45-day free trial at this link. Links and Resources“Big Magic” by Elizabeth GilbertPerinatal Health Equity FoundationLactation Business CoachingLactation Business Coaching FacebookSubscribe to the Deeper Dive Membership: https://learn.paperlesslactation.com/subscription/deeper-dive-membershipHave an idea for a podcast episode or a Deeper Dive? Let us know! https://learn.paperlesslactation.com/form/collaborate If you like what you heard today, please follow us on Facebook and Instagram and leave us a review on iTunes. About UsLeah Jolly is a private practice IBCLC with Bay Area Breastfeeding in Houston, Texas.Annie Frisbie is a private practice IBCLC serving Queens and Brooklyn in New York City and the creator of the Lactation Consultant Private Practice Toolkit.Many thanks to Stephanie Granade for her production assistance, and to Silas Wade for creating our theme music. Thanks to our monthly supporters Emily Maize Gina Pepe Gina Pepe Sara Huddleston Sara Huddleston Allison Walsh Allison Walsh Rebecca Leese Rebecca Leese Celia Clark-Randall Celia Clark-Randall Chanelle Andrews Denise McDonald Denise McDonald Mary Muse JOC Team JOC Team Heather Bell Heather Bell Nicole Letizia Nicole Letizia Cathleen Walker Sarah Shapiro, IBCLC Sarah Shapiro, IBCLC Theresa Hardy Heather Martin Heather Martin Susan Johnson Susan Johnson Maggie Rezende Maggie Rezende Elizabeth Stapleton Elizabeth Stapleton Heather Mastro Heather Mastro Melanie Tarr Melanie Tarr Molly McMillion Molly McMillion Morenike Tyehimba Morenike Tyehimba Margot Hodes Margot Hodes Denise McDonald Denise McDonald Audrey Thompson Audrey Thompson Beth Brownstein Beth Brownstein Zee Ifan Zee Ifan Maria o Sullivan ★ Support this podcast on Patreon ★