STP 93 | How an Accountant Helps You Scale Your Therapy Practice

In this episode of 'The Scaling Therapy Practice,' host James Marland interviews Julie Herres, owner of Green Oak Accounting and author of 'Profit First for Therapists.' They discuss key strategies for scaling a therapy practice, focusing on the importance of financial sustainability and the critical role of accounting support. Julie highlights that every session should add to the bottom line and emphasizes the interconnectedness of scaling through session count and clinician headcount. The episode also covers the potential pitfalls of hiring without proper financial planning, and Julie provides real-world examples, like the pros and cons of buying a practice building. Listeners gain valuable insights into managing compensation packages, avoiding expensive mistakes, and exploring new revenue streams like online courses. Show Highlights 00:00 The Financial Pitfalls of Generosity in Practice 02:11 Introduction to Scaling Therapy Practices 02:19 Meet Julie Herres: Expert Accountant for Therapists 02:54 Defining and Approaching Scaling in Therapy Practices 04:27 Maximizing Space and Resources for Growth 06:30 Breaking Down the Numbers for Scaling 09:44 The Role of Accountants in Scaling Your Practice 13:56 Avoiding Expensive Mistakes in Practice Management 18:38 Creating Effective Compensation Packages 21:46 Exploring Online Courses as a Revenue Stream 25:32 Julie's Resources and Contact Information 26:41 Conclusion and Final Thoughts Links and Resources More Resources from Julie and her team: https://www.greenoakaccounting.com/ Are you ready to scale with a digital product? Take the quiz: https://forms.gozen.io/TMu9Szi9S4i9C7I3h2S3  Do you want to talk about scaling your practice with an online product? Contact James here: https://tidycal.com/360z043/chat-with-james Email James with questions: [email protected]