Episode 81: Starting a Group Practice the Right Way (with Carolyn Chrestman)

Calling all solo practice owners! If you're interested in expanding into a group practice, today's episode is for YOU. There are so many things to think about when it comes to expanding your practice, so we've compiled some information that we think is most useful when setting up your expansion for financial success! Today's guest is Carolyn Chrestman of GreenOak Accounting. Carolyn is an Enrolled Agent and one of the Accounting Managers at GreenOak, and she loves helping her clients expand their businesses! She enjoys educating and empowering her clients to understand their finances. Carolyn came to finance by way of a career in education, and has the superpower to translate "accountant-speak" into terms a normal human can understand. In her spare time, Carolyn can be found running after her 3 kids, hiking, or reading. EPISODE HIGHLIGHTS What are some of the biggest concerns we look at when helping a solo practice expand into a group practice? Sticking to a budget and creating a savings nest in advance to ensure healthy, stress-free growth Understanding what is going on with your money - How is money being allocated? Are there any unnecessary expenses? Figuring out the COMPLETE compensation package What can be included in a complete compensation package? Financial compensation Insurance benefits PTO Advertising/Marketing Administrative hours Don't forget to use code "EARLYBIRD" to get a discount on our Starting A Group Practice Workshop! Click HERE to register! LINKS & RESOURCES GreenOak Accounting - www.GreenOakAccounting.com Therapy For Your Money Podcast - www.TherapyForYourMoney.com Profit First for Therapists - www.ProfitFirstForTherapists.com