In this Therapy for Your Money episode, host Julie Herres, an accountant specializing in private practices, shares insights on creating a million-dollar therapy practice. She clarifies that a million-dollar practice generates gross annual revenue, not profit. She illustrates how practices achieve this, noting it involves robust systems around marketing and client acquisition, ongoing recruitment, and strategic delegation. Moreover, she warns against unsustainable hiring and compensation practices. Julie also promotes her webinar on common hiring mistakes made by practice owners.

Episode Highlights

• 00:00 Introduction to the Podcast
• 00:49 Understanding a Million-Dollar Practice
• 01:00 The Reality of a Million-Dollar Practice
• 01:44 The Journey to a Million-Dollar Practice
• 03:03 The Financial Implications of a Million-Dollar Practice
• 04:56 The Structure of a Million-Dollar Practice
• 06:48 The Systems Needed for a Million-Dollar Practice
• 08:46 The Mindset Shift for a Million-Dollar Practice
• 09:39 Common Mistakes in Building a Million-Dollar Practice
• 10:32 Conclusion and Additional Resources
• 11:28 Disclaimer

Webinar

5 Most Common Mistakes Practice Owners Make When Hiring - https://www.greenoakaccounting.com/webinar 

Links and 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

Podcast Production by www.coursecreationstudio.com