Buckle up, y’all, because we’re getting into one of the most critical (and most avoided!) topics in private practice ownership … paying yourself an actual salary.
I'm talking with the brilliant Carla Titus, a fractional CFO who helps mental health group practices and healthcare providers get financially healthy. Carla works with everyone from solo practitioners to seven-figure practices, and she’s the kind of person who speaks truth to us in a way that we need to hear it. :)
Because here's the thing …
You're not running a charity. You're running a business.
And CEOs don't work for free – so why should you?
In this episode, you'll learn:
- What’s really going on when you don’t pay yourself a salary. (Hint: it’s not because you don’t have the cash.)
- When debt could be a GOOD thing. 🤔
- The concept of "owner's equity" that will completely flip the way you think about starting a business (or even putting money into your practice).
- Key characteristics that ALL successful business owners have in common.
Carla also coined my new favorite phrase: "financial treatment plan."
That's exactly what we need, isn't it? The same intentional, systematic approach we use with our clients, but applied to our money. We get that language!
When you stop treating your practice like volunteer work and start paying yourself what you're worth, everything changes, my friend.
You show up differently. You serve better. And you actually enjoy running the business you worked so hard to build.
Give her a listen.
~Wendy
P.S. Carla was a high-energy, straight-talking, positive-thinking, downright inspiring guest. If you thought so too, would you mind giving her (and us!) a 5 star rating over on Apple? Thank you!
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TODAY’S GUEST: CARLA TITUS
Carla Titus is a finance expert with over 17 years of combined corporate financial planning, analysis, strategy, and online business experience. She provides fractional CFO services and financial consulting to business owners looking to grow their business profitably.
Carla is the owner of ‘Wealth & Worth Within’. Her mission is to empower business owners to achieve financial clarity and peace of mind, so that they can get back to what they enjoy.
Her Website: https://www.wealthworthwithin.com/
Her Podcast: CEO Financial Clarity Corner
_______________
MENTIONED:
Full Focus Planner by Michael Hyatt
On Carla’s Podcast: Breaking the Cash Crunch Cycle: How to Stop Living Paycheck to Paycheck in Your Business
Wendy Pitts Reeves, LCSW
Host, Ideal Practice
Private Practice Coach and Mentor
www.WendyPittsReeves.com
Wendy@WendyPittsReeves.com
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