Stop Working for Free: A CFO's Guide to Medical Practice Profitability Featuring Susanne Mariga, EP 171

In this essential episode, we dive deep into the Profit First methodology and its game-changing impact on medical practices. Susanne Mariga, fractional CFO and co-author of "Profit First for Minority Business Enterprises," shares how implementing a simple five-bank-account system can create intentional profitability while improving patient care. This conversation addresses the critical gap in business education for medical professionals and offers practical solutions for building sustainable, profitable practices. Key Points: The traditional accounting equation (revenue - expenses = profit) often leads to practice owners working for free How the Profit First system creates intentional profitability through designated bank accounts Why profitable practices deliver better patient care and attract top talent The importance of building business value for eventual sale or retirement Practical steps for implementing Profit First, starting with small, manageable changes How automated banking systems can help enforce profitability The connection between practice profitability and work-life balance Resource Highlight: "Profit First for Minority Business Enterprises" by Susanne Mariga and Mike Michalowicz Each book purchase supports girls' education in Zimbabwe through Hope Worldwide Includes specific strategies for implementing Profit First Features tax strategy and pricing guidance for business owners Susanne’s Bio: Susanne Mariga is a CPA and Fractional CFO specializing in high net worth tax strategies for 7 and 8 figure entrepreneurs using the Profit First System.  Susanne is the CEO of The Mariga Group which is a Goldman Sachs 10,000 Small Business, the 2021 Profit First Professional Firm Of The Year, and a recipient of the 2011 Houston Minority Supplier Development E-10 Award.  Susanne has been featured in the Houston Business Journal, MBE Magazine, and in a variety of other media outlets. She is the author of Kirkus reviewed and Publisher’s Weekly’s Editor’s Pick, Profit First For Minority Business Enterprises which was written in collaboration with Mike Michalowicz, under the Profit First brand. She is the host of the Profit Talk Podcast.   Before founding her own firm, Susanne worked at Arthur Andersen LLP, as well as one of the Big 4 firms, KPMG.  Combining her industry knowledge with her own experience of growing a small business has allowed Susanne to help her clients design unique, profit-first based business plans that ensure success and long-term financial stability. As a Certified Profit First Professional (PFP) at the Mastery Level, she is passionate about helping entrepreneurs maximize their revenue, grow their business, and save dollars through sound tax strategies.   Find Susanne: Profit First for Minority Business Enterprises Company Website LinkedIn Susanne’s Website Connect With Us: Be a Guest on the Show Thriving Practice Community Schedule Strategy Session with Tracy Tracy’s LinkedIn Business LinkedIn Page Thriving Practice Community Instagram