Summarize:

Identifying what kind of practice you’d like to have is the next vital step.  Narrow down what kind of patients you’d like to see and what kinds of conditions you would like to treat based on your field of speciality, degree type, and/or certification. This will also help you narrow down things like location and office features: if you’re planning on treating children, for example, you’ll be making different office décor choices! See what other psychologists in your area offer, and find an area to focus on that does not have much competition. This can help you carve out your own, unique niche within the market. Depending on what type of clients you’d like to treat, you can get a sense of where your office would be most conveniently located and what kind of space will best suit their needs.  Ideally, your office will be located near a major freeway or bus routes and be easily accessible. If you’re thinking about a family practice or working with children, you might want to focus on suburban rather than inner-city locations. Look for a office space that has a reception area, a good sized treatment room, and a smaller room for your office. If you’re planning on seeing families, be sure to look for an office space that has meeting rooms large enough to accommodate several people at once. Consider sharing space with other professionals in a business suite, or sub-leasing space from another professional. This is a great option for keeping down other overhead expenses (like utilities, office equipment, or furniture). If you live in a large home that has a separate entrance you can always consider converting a room into a treatment space. It might be helpful to get advice from a fellow practitioner, especially one who started a private practice. If you have any old professors, advisors, or classmates from your degree work who have gone on to start their own practice, drop them a line and ask if they would be willing to share advice, recommendations, and to mentor you as you start your business. If you’d like to accept insurance at your practice, make arrangements with several popular insurance companies to cover their clients. It’s best to contact these companies directly to set up a billing protocol with them. If you're not planning to handle all of the administrative duties, like appointment booking, patient record keeping, billing, and payroll, consider hiring some administrative assistants to give you a hand.
Decide on your practice's specialty. Decide on your location and building type. Find a mentor. Get up to speed with insurance billing. Hire staff.