Episode 41: Coaching Series (with Dr. David Goode-Cross) 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.

All Episodes

Therapy For Your Money

Episode 41: Coaching Series (with Dr. David Goode-Cross)

September 10, 2021 • Season 2 • Episode 41

Today, we're introducing a new series to the podcast - Client Coaching! Julie is chatting with Dr. David Goode-Cross about the challenges in his own business and how to tackle each problem including onboarding new clinicians, best practice when scaling his practice, and investing in real estate.

Dr. David Goode-Crosse is the owner and a psychotherapist at East Towson Psychological Services, located outside of Baltimore, Maryland. His practice specializes in working with the LGBTQ+ community, as well as people of color. David also enjoys mentoring new clinicians who are entering their professional fields from their educational programs, and offers them a vast amount of knowledge to help them excel their competence with working with BIPOC and LGBTQ+ clients.

Episode Highlights:

Client Coaching Focus #1 - Onboarding New Clinicians & Their Pay
- When onboarding new clinicians on a part-time of full-time basis, it's important to determine if you will pay them immediately or once services have been completed
- If you would like to be proactive in building your new clinician's case loads, you can start a wait list ahead of time specifically for new clinicians. This can also help you prepare for client retention and can give the clinician a great baseline to develop their own market of clients.
Client Coaching Focus #2 - Scaling
- When you're determining how large you want to scale your business, it's important to look at your values and how you see your business growing within those values.
- It is also important to take into account your work-life balance when it comes to scaling into a larger practice.
Client Coaching Focus #3 - Saving For Real Estate
- In theory, purchasing commercial real estate would be an investment that would appreciate value. However, the downside is that commercial real estate can sit empty for long periods of time.
- In the therapy industry, sometimes practice owners try to make the business fit into their building rather than fit the building to the business, or finding the best space for your business.

Links & Resources:
GreenOak Accounting
Therapy For Your Money Podcast
East Towson Psychological Services
Adaptive Leadership by Ronald Heifetz