Episode 109: Fee Setting for Therapists Through a Lens of Overcoming Industry Conditioning (with Erin Gibb) Artwork

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.

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Therapy For Your Money

Episode 109: Fee Setting for Therapists Through a Lens of Overcoming Industry Conditioning (with Erin Gibb)

September 15, 2023 • Julie Herres • Season 4 • Episode 109

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 coach, podcast host, and early adopted of the weird and wonderful that accelerates expansion. She created Therapist Expanded after years of mentoring clinicians and seeing how deeply the industry conditioning of self-sacrifice, over-responsibility, and liability fear goes, and how courageously living from the source of our dreams and desires incites mental health revolution. As a Therapist Fulfillment Coach, she offers experimental containers designed to unearth and clarify your deepest dreams, visions, and strategies, so you can live life truly fulfilled.

EPISODE HIGHLIGHTS

How do you recommend a therapist initially set their fees?
- Setting a "thrive fee" is the goal - what you actually need to make in order to thrive
- Once you have a "thrive fee", you can work backwards within your marketing to make adjustments as needed
Setting your fee doesn't just include day-to-day expenses
- It's important to take in to account other expenses like taxes, savings, emergencies, etc. and build that into your fee as well
- This is when it's important to collaborate with an accountant or tax professional

LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Profit First Academy - www.ProfitFirstForTherapists.com/Academy
Erin Gibb - www.TherapistExpanded.com