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Welcome to Therapy for your Money, a podcast about all things money and finance for private practice owners! If you are ready to feel confident and in-control of your financial life, then you are in the right spot. Therapy for our Money is hosted by Julie Herres, the CEO and Founder of GreenOak Accounting. She and her firm specialize in working with private practice owners across the United States, and have assisted hundreds of private practices with increasing their financial stability and profitability. She is on a mission to share her best practices she's learned along the way through her successful career as an accountant, discusses financial topics with a wide variety of guests, and help her listeners make data driven decisions to help their businesses.
163 Episodes
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Embracing Technology Trends in Therapy Practices with Amity CooperIn this episode of Therapy for Your Money, host Julie Herres discusses the intersection of technology and mental health with Amity Cooper, the owner of Clinical Career Collective. They explore the impact of emerging technologies like OpenAI, ChatGPT, and virtual reality on therapy practices. Amity highlights the potential these tools have for improving accessibility and client engagement, noting that immersive technologies are ...
In the first episode of 2025, Julie Herres, host of Therapy for Your Money and owner of Green Oak Accounting, focuses on empowering therapy practice owners to take control of their finances. Julie provides practical tips to help listeners take charge of both personal and business finances, including:Maintain individual login credentials and use two-factor authentication for all accounts.Regularly review credit reports, bank statements, and financial transactions.Limit access to sensitive fina...
Find the Perfect Balance of Growth in your BusinessIn this episode of Therapy for Your Money, host Julie Herres dives into the importance of effective delegation in private practices with guest Casey Gromer of C-Suite Boutique. Discussing the EOS framework, Casey emphasizes the distinction between visionaries and integrators. Key insights include the importance of delegating ownership rather than just tasks, understanding metrics, and the financial impacts of effective delegation. One notable...
Financial Success at Any AgeIn this episode of 'Therapy for Your Money,' host Julie Herres talks with CJ DeMarco, a therapist who transitioned to private practice later in life. They discuss setting up for financial success using the Profit First system. Key topics include the advantages of private pay, the importance of niching, and the potential of intensives for trauma therapy. DeMarco shares her journey from educator to trauma therapist, highlighting that it's never too late to achieve fi...
Planning for Your Best Year Yet: Financial Goal Setting for 2025In this episode of 'Therapy for Your Money,' host Julie Herres, an accountant and the owner of Green Oak Accounting, shares valuable insights on planning for a prosperous 2025. With her extensive experience working with therapy practice owners across the US, Julie emphasizes the importance of reflecting on the past year to set realistic financial goals. She discusses various financial targets, like revenue and profit margins, and...
Why I believe Whole Life Insurance is a Bad InvestmentIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, shares her strong opinion that whole life and universal life insurance policies are poor financial products. Julie delves into her personal experience with these policies, explains why they don't make financial sense for most people, and advocates for term life insurance. Focusing on keeping finances straightforward, she emphasizes separating life...
Navigating Retirement Plans: Avoiding Costly Financial PitfallsIn this episode of Therapy for Your Money, host Julie Herres dives into the complexities of retirement plans, focusing on the pitfalls of cash balance plans and the benefits of simpler options like 401ks and IRAs. Triggered by a recent client experience, Julie passionately argues against high-fee plans pushed by financial planners who are more interested in commissions than client welfare. She offers actionable advice, including t...
GreenOak Accounting Manager Jacquie Carter joins the conversation for this quarterly episode mainstay - Industry Updates! Julie and Jacquie cover the latest issues that are on practice owners' minds and advise how to wisely manage the financial side of business ownership in these latest industry hurdles. Also find out what's recommended for end of year financial security!Episode Highlights00:00 Welcome to Therapy for Your Money00:45 Quarterly Recap with Jacquie Carter01:23 Current Trend...
Understanding the Value of Your Therapy Practice: Essential Tips for SellingIn this episode of 'Therapy for Your Money,' Julie Herres, an accountant and owner of Green Oak Accounting, concludes a two-part series on selling your therapy practice. Julie delves into how to evaluate the worth of a practice, emphasizing the importance of practice size and the role of net profit in determining value. Listeners learn about EBITDA, economic conditions' impact, and multiples' significance in practice ...
Exiting Your Group Practice: Insights and StrategiesIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of Green Oak Accounting, discusses the intricate process of selling a group therapy practice with Nicole McCance, a retired psychologist who successfully sold her group practice. The conversation covers Nicole's initial reluctance to sell, her eventual decision influenced by seeing a peer's successful sale, and the detailed steps she took to ensure her business was attract...
Navigating Challenges in Therapy Practices: Insights and StrategiesThis episode of 'Therapy for Your Money' features host Julie Herres and GreenOak Accounting team manager Jacquie Carter discussing the financial challenges therapy practices faced this quarter. They explore themes of cautiousness among practice owners due to low intakes and referrals, the impact of external factors such as the Change Healthcare incident, and strategies for maintaining financial health, including prudent cash f...
Navigating the World of Buying Real Estate for Your PracticeIn this episode of Therapy For Your Money, host Julie Herres, an accountant and the owner of Green Oak Accounting, explores the complex decision of buying real estate for therapy practice owners. She delves into the reasons for and against purchasing a building, embracing the principle that such a significant financial step should align with one's long-term goals rather than be influenced by the actions of peers. Julie discusses the ...
Therapy for Your Money: Unveiling the Power of Marketing in Therapy PracticesIn this episode of Therapy for Your Money, host Julie Herres, an accountant and owner of Green Oak Accounting, explores the crucial yet often avoided topics of money and marketing for therapy practice owners. Joined by guest Jenn Fredette, a psychotherapist and marketing enthusiast, the discussion delves into overcoming the challenges associated with financial management and marketing within a private practice. Jenn ...
Mastering Delegation: A Guide for Therapy Practice OwnersThis episode of 'Therapy for Your Money' features host Julie Herres and guest Uriah Guilford discussing the importance of efficiency, delegation, and reducing stress for therapy practice owners. Uriah, a group practice owner and the founder of Productive Therapist shares his personal mission of making work and life easier and more fun. He introduces a five-step process for successful delegation: 1) Create a clear goal, 2) Create a writt...
Finding Joy and Understanding Self-Love with Kasey ComptonIn this episode of 'Therapy for Your Money', host Julie Herres, an accountant and owner of Green Oak Accounting, talks with three-time guest Kasey Compton about her new book, 'In Search of You'. They delve into the journey of writing the book, its personal nature, and the process of self-discovery and vulnerability Compton experienced. 'In Search of You' explores themes of self-love, the quest for joy beyond achievements, and the impac...
Unlocking the Power of Private Pay Practice: Expert Insights and AdviceIn this episode of 'Therapy for Your Money', host Julie Herres discusses the importance of private pay practices for therapists with guest Deb Legge, a mental health professional and business coach. Deb shares her experiences shifting towards private pay practices, emphasizing the importance of understanding value, the necessity of effective marketing, and the benefit of identifying and reaching out to key target markets. ...
In this episode of the 'Therapy for Your Money' podcast, host Julie Herres talks to mental health therapist and financial therapy practitioner Khara Croswaite Brindle. They discuss the prevalent issues of money avoidance and insecurity among private practice owners, often stemming from deeply ingrained beliefs and traumas about money. The conversation delves into the concept of 'noble poverty' in the industry, misconceptions around the pursuit of profit, and the importance of addressing these...
In this episode of 'Therapy for Your Money,' host Julie Herres and retreat planning expert Patrick Casale delve deep into the world of retreats. They discuss strategies for successful retreat planning, including creating a detailed budget, understanding the true costs, setting realistic prices, developing effective marketing strategies, and offering add-ons such as CEUs (Continuing Education Units), excellent accommodation, and local experiences to attract participants. Patrick's experience p...
Understanding the Implications of Hiring Contractors vs Employees in Therapy PracticesIn this episode of 'Therapy for Your Money,' host Julie Herres discusses the implications of employing contractors versus employees in therapy practices. She unpacks a recent ruling from the Department of Labor and its six factors for determining employment relationships. She emphasizes that legislation is moving towards favoring employee relationships. While the immediate impact on therapy practices may be ...
In this episode, Julie Herres and her guest Davia Roberts discuss the differences between the nonprofit and corporate mindsets in the therapy field. They explore the challenges faced by therapists working in nonprofits, such as low pay, unrealistic expectations, and the guilt associated with prioritizing financial security. They also debunk the stigma around therapists transitioning from nonprofit to corporate settings.Financial Challenges in Nonprofit SettingsThe conversation highlights the ...
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