Have you ever been stressed about losing income while you’re away from your practice?
If that sounds familiar, it’s probably time to think about turning your group practice income into lasting wealth.
That’s why I sat down with Ryan Derousseau from Thinking Cap Financial to explore the essential topic of financial planning for group practice owners.
While income keeps the day-to-day operations running, true wealth comes from investing that income wisely. Shifting your focus from just earning, to strategically investing can provide long-term financial security and even allow you to take time off without worry.
If you're stuck in the cycle of client work, this episode is a must-listen!
During our chat, we dive into:
The difference between generating income and building wealth in a group practice.
Strategies for investing income, including stock market, real estate, and business ventures.
The significance of transitioning from client work dependency to strategic business management.
The first steps you can take to begin turning your practice income into wealth.
Resources for further guidance on wealth building and financial management.
This episode is brimming with practical advice to help you build a sustainable future for your practice.
Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you’re listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!
LINKS:
Ryan’s eBook: Turning Private Practice Income into Wealth
The Group Practice Exchange Programs + Courses
The Accountability Equation™ Quiz
CONNECT WITH MAUREEN WERRBACH & THE GROUP PRACTICE EXCHANGE:
CONNECT WITH RYAN DEROUSSEAU:
SPONSORS:
TherapyNotes: An EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. Go to therapynotes.com/r/thegrouppracticeexchange for two free months!
GreenOak Accounting: An accounting firm that specializes in working with group practices. Mention TGPE to get $100 off your first month!
In today’s market, it’s more crucial than ever for us group practice owners to think like CEOs and differentiate our services.
But that’s often easier said than done - especially if you’re not sure where to start.
In this episode, I chatted all about this with Dr. Ajita Robinson, a licensed clinical professional counselor who specializes in grief and trauma, and an income strategist for therapists.
We explored the critical need for diversifying mental health services in the post-COVID era. Dr. Robinson provided invaluable insights on transitioning from a practitioner mindset to a CEO mindset, the importance of increasing marketing touch points, and the advantages of building B2B relationships.
If you're interested in expanding and diversifying services in your practice, you won't want to miss this conversation where we talk about:
Why we need to shift from a practitioner mindset to a CEO mindset to create a sustainable practice
Increasing marketing touch points to reach a broader audience
How to interpret and pivot based on qualitative data
Why having a digital footprint for your practice has become more crucial than ever
Building business-to-business relationships to expand service offerings
Examples of types of partnerships for diversifying services
Tune in to this episode to gain practical tips and strategies that can help your practice and thrive in the evolving landscape.
Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you’re listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!
LINKS:
The Group Practice Exchange Programs + Courses
The Accountability Equation™ Quiz
Dr. Ajita Robinson’s Book: The Purposeful & Profitable Therapist’s Guide on Diversifying Income
Connect with Maureen Werrbach & The Group Practice Exchange:
Connect with Dr. Ajita Robinson:
The Purposeful and Profitable Therapist Collective
The Purposeful and Profitable Therapist Summit
This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.
Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe
In recent years, retaining top talent has become more challenging than ever for group practice owners.
The hard truth? Your staff are likely leaving because they no longer feel connected to you or their work.
So, how can you keep your team engaged and committed to your practice?
In this episode, I sit down with Shelli Warren, a seasoned team and leadership coach, to uncover the secrets of offering your staff a career, not just a job. Shelli brings a wealth of knowledge on creating meaningful career paths, even in smaller group practices, and emphasizes the importance of fostering a deep sense of connection among your employees.
We'll explore the unique challenges group practice owners face, especially with the surge in telehealth, and provide actionable strategies to keep your staff motivated and engaged.
Join our conversation to hear about:
How the rise of telehealth has impacted staff dynamics and what you can do about it.
The importance of offering meaningful career opportunities, not just jobs, to enhance staff retention.
Strategies to help your employees feel genuinely connected to their roles and your practice.
Why it’s important to educate staff on the complexities of running a group practice.
Suggestions for maintaining leadership visibility and why that has an impact on staff morale.
Tools and techniques for fostering career growth within your team.
Don't miss out on this invaluable conversation filled with insights and resources designed to help you retain your top talent and create a thriving, connected workplace.
Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you’re listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!
Resources mentioned in this episode:
The Group Practice Exchange Programs + Courses
The Accountability Equation™ Quiz
Stacking Your Team Guides & Assessments
Connect with Maureen Werrbach & The Group Practice Exchange:
Connect with Shelli Warren:
This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.
Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe