Episode 106 | [Tip of the Day] Why You're Making Less Now Than You Were As Solo Practitioner

Hey Group Practice listeners! In this episode, I'm talking all about why you may be making less now as a group practice owner than you were as a solo practitioner. In this episode we cover: Growing your practice too quickly Not taking time to stabilize between growth Investing too much in your start-up Paying your staff too much or adding too many benefits too quickly Hiring too many part-time therapists Low retention rates Sales issues vs. profit issues Staying small, but spending as though you're a larger practice Working longer and harder in the first year Not delegating enough 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' 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