In this episode, Julie Herres and her guest Davia Roberts discuss the differences between the nonprofit and corporate mindsets in the therapy field. They explore the challenges faced by therapists working in nonprofits, such as low pay, unrealistic expectations, and the guilt associated with prioritizing financial security. They also debunk the stigma around therapists transitioning from nonprofit to corporate settings.

Financial Challenges in Nonprofit Settings
The conversation highlights the financial challenges faced by therapists working in nonprofit settings. Many therapists in these settings are overworked and underpaid, with unrealistic workloads and limited resources. Struggles include making a living wage, paying off student loans, and the overall financial stress that impacts the well-being of therapists. On top of that, there is the guilt associated with charging higher fees for services, despite the value and importance of their work.

The Impact of Stigma
Davia highlights the perception that going corporate is seen as being greedy or money-focused, while nonprofit work is viewed as selfless and dedicated to helping others. The conversation challenges these stereotypes, pointing out the importance of financial security and acknowledging that therapists should not be expected to sacrifice their own well-being for their clients. They discuss the need to break free from the guilt and reframe the conversation around the value and worth of mental health services.

Shifting the Mindset
The transition from a nonprofit mindset to a corporate or private practice mindset involves a critical evaluation of goals, motivations, and expectations. This process is crucial for therapists considering such a shift. They need to align their financial goals with their career aspirations, highlighting the significance of negotiating appropriate pay and understanding their worth. Additionally, the conversation addresses the necessity of financial planning and budgeting. Awareness of the seasonal fluctuations in income that can occur in an entrepreneurial or private practice setting is also a key aspect of this transition.

LINKS & RESOURCES

• Book Recommendation: The Wealthy Speaker 3.0 
• More than a Therapist: Listen to the Podcast and join the community!
• 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

Podcast Production and Show Notes by Course Creation Studio

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