Therapy For Your Money

Navigating the World of Buying Real Estate for Your Practice

In this episode of Therapy For Your Money, host Julie Herres, an accountant and the owner of Green Oak Accounting, explores the complex decision of buying real estate for therapy practice owners. She delves into the reasons for and against purchasing a building, embracing the principle that such a significant financial step should align with one's long-term ...

Therapy for Your Money: Unveiling the Power of Marketing in Therapy Practices

In this episode of Therapy for Your Money, host Julie Herres, an accountant and owner of Green Oak Accounting, explores the crucial yet often avoided topics of money and marketing for therapy practice owners. Joined by guest Jenn Fredette, a psychotherapist and marketing enthusiast, the discussion delves into overcoming the challenges associated with finan...

In this episode of 'Therapy for Your Money,' hosted by Julie Herres, the focus is on understanding Department of Labor (DOL) audits through the lens of a therapy practice owner. Julie shares her personal experience with a DOL audit in 2023, emphasizing the rarity of such audits for small businesses and outlining what triggers them. She provides a detailed account of the audit process, what the DOL investigates, and the ki...

Mastering Delegation: A Guide for Therapy Practice Owners

This episode of 'Therapy for Your Money' features host Julie Herres and guest Uriah Guilford discussing the importance of efficiency, delegation, and reducing stress for therapy practice owners. Uriah, a group practice owner and the founder of Productive Therapist shares his personal mission of making work and life easier and more fun. He introduces a five-step proc...

Therapy for Your Money: Becoming a Wealthy Therapist

In this episode of 'Therapy for Your Money,' host Julie Herres discusses her insights on wealth accumulation for therapists. The economic rules discussed include spending less than what one earns, saving at least 10% of annual income, using debt wisely, having term life insurance if one has dependents, having emergency funds personally and in business, and ensuring one h...

Behind the Numbers of Self-Publishing: Profit First for Therapists Turns One

In this Therapy for Your Money episode, host Julie Herres, an accountant and owner of Green Oak Accounting, celebrates her book's first anniversary, Profit First for Therapists. She discusses the comprehensive details of self-publishing a niche book, including the financial and time commitments required. Julie provides insights into the costs...

Finding Joy and Understanding Self-Love with Kasey Compton

In this episode of 'Therapy for Your Money', host Julie Herres, an accountant and owner of Green Oak Accounting, talks with three-time guest Kasey Compton about her new book, 'In Search of You'. They delve into the journey of writing the book, its personal nature, and the process of self-discovery and vulnerability Compton experienced. 'In ...

Understanding Retirement Plans: Options for Business Owners

In this episode of Therapy for Your Money we discusses the different retirement plans available to business owners. She details four main business retirement plans: traditional 401k, Safe Harbor 401k, Simple IRA, and SEP IRA. Julie outlines the benefits, limitations, and eligibility criteria for each plan, highlighting how these can align with various business sca...

Unlocking the Power of Private Pay Practice: Expert Insights and Advice

In this episode of 'Therapy for Your Money', host Julie Herres discusses the importance of private pay practices for therapists with guest Deb Legge, a mental health professional and business coach. Deb shares her experiences shifting towards private pay practices, emphasizing the importance of understanding value, the necessity of effective marketing,...

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,...

In this episode of the 'Therapy for Your Money' podcast, host Julie Herres talks to mental health therapist and financial therapy practitioner Khara Croswaite Brindle. They discuss the prevalent issues of money avoidance and insecurity among private practice owners, often stemming from deeply ingrained beliefs and traumas about money. The conversation delves into the concept of 'noble poverty' in the industry, m...

In this episode of 'Therapy for Your Money,' host Julie Herres and retreat planning expert Patrick Casale delve deep into the world of retreats. They discuss strategies for successful retreat planning, including creating a detailed budget, understanding the true costs, setting realistic prices, developing effective marketing strategies, and offering add-ons such as CEUs (Continuing Education Units), excellent accommodatio...

Understanding the Implications of Hiring Contractors vs Employees in Therapy Practices

In this episode of 'Therapy for Your Money,' host Julie Herres discusses the implications of employing contractors versus employees in therapy practices. She unpacks a recent ruling from the Department of Labor and its six factors for determining employment relationships. She emphasizes that legislation is moving towards favori...

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 Ch...

Lessons from Successful Business Owners: Strategies and Habits for Profitable Practices

Host Julie Herres discusses the habits and strategies common among the most successful business owners. She emphasizes not to equate the appearance of wealth with actual success. She suggests that successful business owners often do not overextend their resources but smartly use credit cards and plan investments. Successful business owners rarely...

Episode Summary:
In this episode, Maira Holzmann and Julie Herres delve deep into the intricacies of managing finances in the world of therapy practice. They discuss the challenges and revelations they've faced, from reevaluating their perceptions of debt to the importance of joy spotting amidst the stresses of business. Maira shares her transformative journey with money, emphasizing the need for prioritization and re...

How to Increase Your Income in Private Practice: Three Levers All Practice Owners Can Use

In this podcast episode of Therapy for Your Money, host Julie Herres discusses levers that therapy practice owners can control to increase their income. 

• The first lever is the number of sessions provided by the practice, in which an increase should generate higher profits. 
• The second lever is the average fee per session, increasin...

During this podcast episode, the hosts discuss the shifting mindset from viewing intake coordinators strictly as administrative support to seeing them as essential salespeople in mental health practices. By redefining the role, conversion rates can increase, benefiting the practice and the clients.  When it comes to putting the right person in the role, it's important to hire someone with a sales mindset capable of tackling ta...

In this episode, Julie Herres, the host of 'Therapy for Your Money' speaks with Sarah Riley, the business development manager at Green Oak Accounting, about reimagining the role of an intake coordinator to work more like a salesperson. They discuss how a sales-oriented approach can significantly improve a therapy practice's conversion rates, making it more profitable. They also explore practical tips on how to implem...