Therapy For Your Money
Welcome to Therapy for your Money, a podcast about all things money and finance for private practice owners! If you are ready to feel confident and in-control of your financial life, then you are in the right spot. Therapy for our Money is hosted by Julie Herres, the CEO and Founder of GreenOak Accounting. She and her firm specialize in working with private practice owners across the United States, and have assisted hundreds of private practices with increasing their financial stability and profitability. She is on a mission to share her best practices she's learned along the way through her successful career as an accountant, discusses financial topics with a wide variety of guests, and help her listeners make data driven decisions to help their businesses.
Therapy For Your Money
Episode 86: Are you ready to expand?
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Season 3
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Episode 86
Expansion can be a scary (but exciting!) time for private practices. We believe that having a data-driven plan is the best way to approach growing your business! Make sure to listen to the full episode to hear some tips from Julie's upcoming book, Profit First For Therapists, available for pre-order now!
EPISODE HIGHLIGHTS:
EPISODE HIGHLIGHTS:
- Businesses that grow rapidly are at a higher risk of running out of cash
- Payroll will increase, overhead will increase, and the demand for cash may outgrow the speed in which revenue is coming in
- 3 Phases of Growth
- Planning & Analysis
- The longest phase - how much exactly is the expansion going to cost and where is the money going to come from?
- Growth
- It's important to recognize that you may be responsible for many roles during this phase and could potentially take home a less than typical pay
- The New Normal
- This is when the financials and roles of the practice begin to stabilize
- Planning & Analysis
- Make sure to listen through the entire episode for some Profit First For Therapists bonus tips!
CLICK HERE if you are interested in pre-ordering your own copy of Profit First for Therapists
Also, make sure to visit www.ProfitFirstForTherapists.com to register your pre-order and gain access to your bonus content!
LINKS & RESOURCES:
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com