Therapy For Your Money

In the ever-challenging landscape of the mental health industry, private practice owners often grapple with burnout. Julie Herres highlights the significance of having a clear financial goal or "number" to navigate these challenges. "It has been a hard couple of years in the mental health industry," Julie remarks, emphasizing the power of a financial target to bring clarity and...

We have another exciting new episode today all about a game changing strategy that can significantly boost your ROI as a private practice owner – collaboration. Mental health professionals often emphasize the importance of collaboration in their therapeutic work, but have you considered how collaboration can extend beyond therapy sessions and positively impact the financial health of your practice...

In today's episode, we'll be exploring a new topic - 529 College Savings Plans! We believe that every child's potential deserves to be nurtured, and that includes paving the way for their educational aspirations. Together, let's navigate the world of 529 plans... not just as a financial tool but as a means to cultivate a sense of security and confidence for your family. EPISODE...

Welcome to episode 119 of the "Therapy for Your Money" podcast! Host Julie Herres dives into effective ways to boost income in a group practice without solely relying on marketing efforts. Her guest, Nicole McCance, a former psychologist and founder of a thriving group practice, shares invaluable insights drawn from her journey of scaling her practice and transitioning into coaching. McC...

Having a contingency plan for your business may have never crossed your mind before... but it's more important to have than you may think! Julie's sitting down with the master of planning herself, Mary Beth Simón, to talk about what you need a contingency plan for and what items you should include in yours. Mary Beth guides business owners to create contingency plans that prepare them an...

Today, we're getting personal! It can be difficult finding a healthy balance between being a business owner, a parent or spouse, and your own independent person. Julie's chatting with us about how she manages to head her team at GreenOak, prepare for the future of her kiddos and spouse, and take care of herself in between! EPISODE HIGHLIGHTS Emergency Fund Keep your business and personal...

At Therapy For Your Money, we strongly believe in practice owners tracking their metrics in order to understand how well their business is performing. Julie is joined by an exciting, new guest, Brent Stutzman! Brent is sharing the key metrics he likes to track in his client's private practices, and why tracking these specifically are so important. Brent Stutzman is the owner of Brand Your Pra...

While setting your fees may seem like an impossible and emotional feat, today's guest takes the task and turns it into a formula you definitely want to try! Julie's chatting with Erin Gibb, a jack of all trades in the therapy world, about how setting your fees needs to start with you in mind first. Erin Gibb is a therapist, clinical supervisor, group practice owner, Therapist Fulfillment...

We're starting an exciting new series today, our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to sha...

Choosing an accountant that best fits the needs of your practice can seem intimidating but today's episode will put your mind at ease! Julie's chatting with Linzy Bonham, the genius behind Money Nuts & Bolts, to discuss what kind of questions you should ask a new accountant, how to figure out your accounting needs, and how to manage your expectations of an accountants scope. Linzy Bo...

Welcome back to Therapy For Your Money Season 4! When we say that every practice deserves to be profitable... we mean it! Through working with hundreds of clients, we understand that discussing finances in the therapy industry can cause a lot of guilt and anxiety. We're here to dispel those feelings and build your practice into your dream business. EPISODE HIGHLIGHTS We believe that therapist...

We wanted to give you a little update this summer and chat about some subjects that have been brought up with our GreenOak Accounting clients! Julie's chatting with one of our fantastic accounting managers, Jacquie Kiefer, about what her clients have been asking at the end of their second quarters and how to knock out the rest of the year. The summer slow seasons and attending conferences are...

Have no fear... We are here to break the cycle of negative discussions that surround making money in the therapy industry! The work that therapists and private practice owners do is so important, and it is one of our missions to ensure all therapy industry professionals are compensated for the incredible work they do. Today, Julie is joined by Katie Read to chat about breaking the chain of negativ...

Buying or leasing office space can be tricky territory to navigate when you're already managing your practice on a day to day basis! It can be hard to determine whether you should lease or buy, how much space you will need depending on your practice size, and if you have intentions of growing your practice over the next 10+ years. Julie is chatting with Colin Carr, a real estate specialist wh...

If you've ever thought about selling your practice, then today's episode is for YOU! There are many components that play into successfully selling your practice and our guest, Gabrielle Juliano-Villani,  is here to share her experience. Gabrielle Juliano-Villani is a licensed clinical social worker, consultant, coach, entrepreneur, and educator based in Sarasota, Florida. She has been in...

 Growing your private practice doesn't mean you have to immediately bring on new clinicians, buy a building, and hire a whole administrative team - You could start by simply hiring interns! To give us some insight on the ins and outs of adding interns into your practice, Julie is joined by Dr. Tara Sanderson. Dr. Tara Sanderson is a Licensed Psychologist in Oregon, owner of a group practice,...

We wanted to celebrate our 100th episode and the release of Julie's new book, Profit First for Therapists, by taking a trip down memory lane with none other than the author of the original Profit First, Mike Michalowicz! "Every time revenue comes into your practice, you subtract a predetermined amount as profit, and you run your business on the remainder" - Mike Michalowicz The Prof...

Today is a very special episode for the Therapy For Your Money team... Julie is sharing her behind-the-scenes journey of writing Profit First for Therapists! She is giving us a glimpse into what the writing process looks like from the business side, and she's telling the personal story of her life and experiences throughout writing the book. Pre-order your copy of Profit First For Therapists...

Creating a cohesive brand for your practice is just as important as creating a personal brand for yourself! Whether you're interested in expanding your service offerings or wanting to step away from your practice, having a personal brand is essential. Julie's chatting with one of our favorite guests from Season One, Maegan Megginson, about creating a personal brand and how it can add val...

We all know that achieving "perfection" is a very unrealistic goal in our day-to-day lives! When it comes to managing your finances, we understand how the pressure of being "perfect" may lead to avoidance, which ultimately only makes the state of things worse. Today, Julie's chatting with one of our favorite guests, Linzy Bonham, about how the pressure of financial "p...

Setting cash pay rates can be tricky! You want to make sure you're offering a competitive rate in your area and still honor your time and skill set as a therapist. Another key thing to consider... as your private practices grows and your team begins to expand, you may find yourself contemplating the different options of compensation you can offer! Bonuses, PTO, health insurance, and retiremen...

Spending on marketing without effectively tracking metrics can take a big toll on the financial health of your practice! Ensuring you have a solid website, are advertising on the right platforms, and reaching your target audience will drive your marketing dollars in the right direction. We're chatting with John Sanders from RevKey about the ROI (Return on Investment) when it comes to marketin...

We have a very exciting episode today! Julie is reading an excerpt from her new book, Profit First for Therapists, all about compensation. Team compensation is the single-largest expense for a group practice, and having a clear system in place yields the best results for your business. Click here to pre-order your copy of Profit First for Therapists! Click here for your Profit First for Therapist...

Tax season is upon us! One of the biggest worries we often hear from our clients is that they may be audited, and while that is unlikely to happen if you properly file your taxes, it's important to have some information to feel prepared. Today, Julie is joined by Ben Golden of IRS Trouble Solvers to talk about who may be audited, what to do if you are audited, and that audit's don't...

We've got a short and sweet episode today with one of our fantastic team members over at GreenOak Accounting who has a pulse on what's going on in the therapy world! Our teams have just wrapped up their quarterly client meetings and we wanted to give you an inside scoop on some of the common problems private practices are facing at the moment. Jacquie Kiefer is an Accounting Manager at G...