We're starting an exciting new series today, our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to share the stories told during our launch event with our podcast listeners so you could be part of the celebration with us!

On today's episode, we're joined by three wonderful members of the GreenOak Accounting team - Kelly Jewell, Carolyn Chrestman, and Misstie Pollard. They share their experiences helping clients implement the Profit First methodology into their practices, and some tried and true tricks of the trade to get started!

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

Choosing an accountant that best fits the needs of your practice can seem intimidating but today's episode will put your mind at ease! Julie's chatting with Linzy Bonham, the genius behind Money Nuts & Bolts, to discuss what kind of questions you should ask a new accountant, how to figure out your accounting needs, and how to manage your expectations of an accountants scope.

Linzy Bonham is a private practice therapist turned money coach who helps private practice owners and health professionals feel calm and in control of their finances through her coaching at Money Nuts & Bolts and her podcast Money Skills for Therapists. It all started when she saw her extremely skilled colleagues struggle with the money side of business. Some had even left private practice, or were avoiding starting one, because the financial side was too stressful. So, Linzy decided to help therapists and health professionals develop peace of mind about their money. Since so many were never taught these skills, she focuses on the "how" of making the business side of private practice doable, and even super satisfying.

EPISODE HIGHLIGHTS

• Tip #1: Ask a lot of questions!
  • There are no right/wrong answers. The questions should be based entirely on what specifically you need for your business.
  • Examples: What is the best way to contact you? What kind of a response time can I expect? What is your process for XYZ? What are the services you offer? Do you specialize in any services/industries?
• Tip #2: Work with someone who has a compatible style with you
  • If you're interested in learning about the financial side of your business, make sure to collaborate with an accountant who likes and is willing to teach
  • Ensure you are compatible with softwares, communication, and amount of support you may need
• Tip #3: Your financial professional is not your employee
  • Your accountant won't have all the daily, nitty-gritty details of your business, so make sure to set realistic expectations for what your accountant can provide for you
• Make sure to listen to the episode to get the full list of tips and hear the entire discussion on picking the best accounting from Julie and Linzy!

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
Linzy Bonham - www.MoneyNutsAndBolts.com
The Secret to Getting Unstuck in Your Finances

Welcome back to Therapy For Your Money Season 4!

When we say that every practice deserves to be profitable... we mean it! Through working with hundreds of clients, we understand that discussing finances in the therapy industry can cause a lot of guilt and anxiety. We're here to dispel those feelings and build your practice into your dream business.

EPISODE HIGHLIGHTS

• We believe that therapists and private practice owners have an ethical responsibility to be profitable
  • Taking care of your practice financially allows you to grow our business, confidently support yourself and your clinicians, and help your community
• The business side of a private practice may not come naturally to you, and that's okay!
  • We recommend all practice begin using the Profit First methodology to ensure you are generating profit from the very start of your business
• Finish of 2023 strong
  • Make profitability a priority in your business for the next half of 2023 because you deserve it
  • If you don't currently use the Profit First methodology, check out Julie's book Profit First for Therapists and our new Profit First Academy to get started!

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

We wanted to give you a little update this summer and chat about some subjects that have been brought up with our GreenOak Accounting clients! Julie's chatting with one of our fantastic accounting managers, Jacquie Kiefer, about what her clients have been asking at the end of their second quarters and how to knock out the rest of the year. The summer slow seasons and attending conferences are just a couple of the great topics we're covering today!

Jacquie Kiefer is an Accounting Manager at GreenOak Accounting. She is passionate about helping her clients see the big picture and how their companies are progressing.  She lives in the details of each client's day-to-day business, and prides herself in helping them achieve their goals! Originally from Colorado, she now calls Florida home, spending most of her free time adventuring with her boyfriend and their five dogs, fishing, hunting, and enjoying the outdoors.

EPISODE HIGHLIGHTS

• Topic 1: Anxiety & Burnout
  • We understand that people in the therapy industry feel very burnt out right now due to client and clinician retention and affording the maintenance of a practice during the slow season.
• Topic 2: Preparing for the Summer Slow-Down
  • We have recently been able to return to "pre-COVID" way of predicting the trends. As we enter the slower summer season, we recommend that all of our clients set aside anything extra in order to be best prepared.
• Topic 3: Retreats and Travel!
  • It is time to take a break while also taking advantage of awesome conferences and retreats offered in the industry! When you take time to travel to a conference, you're giving yourself a break from the day-to-day grind while also networking and learning for your business. Conferences and retreats are also a great way to get your creative juices flowing!

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

Have no fear... We are here to break the cycle of negative discussions that surround making money in the therapy industry! The work that therapists and private practice owners do is so important, and it is one of our missions to ensure all therapy industry professionals are compensated for the incredible work they do. Today, Julie is joined by Katie Read to chat about breaking the chain of negative talk surrounding money in the therapy world.

Katie takes lessons from her nearly-20 successful years in the field to help clinicians grow...then OUTgrow...their practices. Immediately upon licensure, Katie was made Director of a large Transitional Aged Youth program in Oakland, CA. Later, she was recruited to Direct one of Sacramento’s largest Wraparound Programs, and from there she moved into the role of Director of Clinical Supervision, personally supervising 40+ interns towards licensure. Concurrently, Katie had private practices in multiple cities, taught graduate psychology students, and wrote and created therapist training materials. She is the creator of The Clinician to Coach® Academy, The Clini-Coach® Certification, and the Six-Figure Flagship® Program. Katie helps other helping professionals step into their biggest lives…so they can serve in the biggest ways. 

EPISODE HIGHLIGHTS

• The first step is to stop selling yourself short!
  • When you set your fees, be intentional with the pricing - you want to aim to be accessible, yet competitive in your area
  • We understand it may be necessary to slide your scale at times, but don't immediately turn to selling your services short
  • If you greatly reduce your prices, you might be unintentionally branding yourself as "cheap" and devaluing your skills, and this could lead to losing out on potential clients
• How do you make the shift into placing a higher monetary value on your services?
  • Expand your view for what could be possible for you to no longer live in financial fear! Set some realistic financial goals, create a plan, and envision what your life could look like if you started working on those goals today
  • Increasing your prices can be uncomfortable at first, but if you keep envisioning what your life will be like in the future, it can make it easier to take those actionable steps

LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Katie Read - www.KatieRead.com
Traction by Gino Wickman

Buying or leasing office space can be tricky territory to navigate when you're already managing your practice on a day to day basis! It can be hard to determine whether you should lease or buy, how much space you will need depending on your practice size, and if you have intentions of growing your practice over the next 10+ years. Julie is chatting with Colin Carr, a real estate specialist who is here to answer our questions about real estate in the private practice world!

Colin Carr is the founder and CEO of CARR, the nation’s leading provider of commercial real estate services for healthcare tenants and buyers. Every year, thousands of healthcare practices trust CARR to help them achieve the most favorable terms on their lease and purchase negotiations. Colin has been involved in commercial real estate for over two decades and has personally completed over 1,000 transactions. 

EPISODE HIGHLIGHTS

• How do you advise practice owners on the decision to purchase of lease office space?
  • Ask yourself, "Can I see myself in the location/size of space for the next 7-10 years?" If not, it probably isn't a good time to commit to this large of a purchase. You can quickly outgrow a space, and don't want to be stuck stagnant.
  • On the flip side, you don't want to over estimate the size of space you will need and end up significantly overpaying for space that isn't utilized. Commercial real estate is more specialized and a lot harder to get in and out of!
• When a practice owner anticipates growth in the next few years, how do you advice them to go about leasing a space?
  • Steer clear of a long lease! While it is true that there are more favorable terms that go along with longer leases, you will eliminate the need to continue to negotiate your rate, and allow your business to move out of the space as it grows.
• If a practice owner is interested in buying an office space, what should they keep in mind?
  • First, you want to determine if you are buying the space just for you and your business, or if you are buying a space that has multiple offices and can be used as an investment property.
  • If you choose the latter, it's important that you look at your finances to ensure you can afford the space in the worst case scenario of not having any tenants to rent out the additional offices. Even if that scenario is rare, it's always important to be prepared!

LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Colin Car - www.Carr.us

If you've ever thought about selling your practice, then today's episode is for YOU! There are many components that play into successfully selling your practice and our guest, Gabrielle Juliano-Villani,  is here to share her experience.

Gabrielle Juliano-Villani is a licensed clinical social worker, consultant, coach, entrepreneur, and educator based in Sarasota, Florida. She has been in the mental health field for over a decade, specializing in stress, chronic health conditions, and trauma. After realizing her own burnout in 2021, she sold her thriving group practice and and made her mission to educate others on the impact stress has on our everyday lives. Gabrielle pulls from her experience as an EMDR and Polyvagal Informed therapist to utilize mind/body approaches to help others implement everyday strategies to manage stress and live their best lives. When she's not working, Gabrielle is teaching Zumba, surfing, or reading a psychological thriller at the beach.

EPISODE HIGHLIGHTS

• Even if you don't plan on selling your practice, or the plan to sell isn't for years down the road, it's still important to structure your practice as if you are going to sell it! Setting up your practice in this mentality will ensure you are using the most efficient and profitable systems.
• You will most likely have to sign an NDA when going through the process of selling, but it's important to still consult with your professional team, like your accountant and attorney

LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Money & The Law of Attraction
www.GabrielleJulianaVillani.com

 Growing your private practice doesn't mean you have to immediately bring on new clinicians, buy a building, and hire a whole administrative team - You could start by simply hiring interns! To give us some insight on the ins and outs of adding interns into your practice, Julie is joined by Dr. Tara Sanderson.

Dr. Tara Sanderson is a Licensed Psychologist in Oregon, owner of a group practice, a clinical supervisor for residents and associates, and an author. She is also the creator of How to Have Interns in Your Practice, a comprehensive online platform that teaches practice owners the basics of adding interns to their businesses. As a clinician, she loves work with and talking about anxiety, OCD, perfectionism, and burnout. As a trainer and supervisor, Dr. Tara's heart lays in training up and empowering interns and pre-licensed professionals. 


EPISODE HIGHLIGHTS

• It is very common for practice owners to want to invest time into training clinicians who will eventually become full-time members of their practice, rather than provide supervision to new graduates who are interested in pursing an independent practice of their own
• When you build your budget for your business, include the costs associated with taking on interns (technology fees, administrative hours, etc.) but don't include the income brought in by the interns. This will ensure that your practice can afford to invest in supervision, and remain afloat while taking on the additional costs.
• If you're interested in welcoming interns into your practice, start by ensuring you are compliant with all state regulations, as well as any requirements required of insurance companies you are paneled with for billing purposes

LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Dr. Tara Anderson
How To Have Interns in Your Practice

We wanted to celebrate our 100th episode and the release of Julie's new book, Profit First for Therapists, by taking a trip down memory lane with none other than the author of the original Profit First, Mike Michalowicz!

"Every time revenue comes into your practice, you subtract a predetermined amount as profit, and you run your business on the remainder" - Mike Michalowicz

The Profit First methodology has transformed thousands of struggling businesses into money making machines! If you're interested in implementing Profit First into your private practice, today's episode is made for you.

Make sure to order your copy of Profit First for Therapists by clicking HERE!


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

Today is a very special episode for the Therapy For Your Money team... Julie is sharing her behind-the-scenes journey of writing Profit First for Therapists! She is giving us a glimpse into what the writing process looks like from the business side, and she's telling the personal story of her life and experiences throughout writing the book.

Pre-order your copy of Profit First For Therapists by clicking here!

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