Season 2 Episode 11 | Julie Herres | Profit First For Therapists

FEATURED GUESTS: Julie Herres is an expert in Profit First who has helped hundreds of private practice owners gain financial freedom. Founder of GreenOak Accounting, the country’s largest firm serving the mental health industry, Julie is an accountant, consultant, speaker, author of Profit First for Therapists and host of the Therapy for Your Money podcast. 

LISTEN & LEARN: 

• What is the Profit First Accounting Model.
• The benefits of using multiple bank accounts. 
• The 6 foundational accounts are: Income, profit, operating expenses, owners pay, taxes, payroll 
• How the Profit First Model protects business owners from Parkinson's Law. 
• How to calculate profit in a business. 
• Profit is the benefit and reward for the risks that you take as the business owner. 
• The profit first method of calculating profit distributions. 
• The 4 core principles of Profit First: use a small plate, serve sequentially, remove temptation, 
• Benefit of setting up a weekly transfer schedule to move money to your foundational accounts. 
• Julie's recommendations for calculating profit percentages based on your practice size. 

RESOURCES MENTIONED ON THE SHOW: 

• Julie's Podcast Therapy For Your Moneyhttps://www.therapyforyourmoney.com/
• Julie's Firm Green Oak Accounting https://www.greenoakaccounting.com/
• Preorder Julie's New Book Profit First for Therapists        https://www.profitfirstfortherapists.com/
• Julie's Reverse Engineer Your Practice FREE CALCULATOR  https://www.profitfirstfortherapists.com/creative 
• Profit First by Mike Michalowicz