Business owners and leaders need a strong understanding of the financial fundamentals for success. Without a solid financial foundation, you may never achieve your goals, let alone build wealth for the long term. This foundation will help you get organized, build and manage a budget, understand the numbers, and focus on your cash flow as […]
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7 Essential Business Skills for Private Practice Owners
As a private practice owner, you’re accomplished in your area of professional expertise, but you also need some general business skills in order to succeed. In fact, the success of your practice depends as much on how well you run the business as it does on how proficiently you perform in your specialty. Top Business […]
Creating a Budget for Your Mental Health Practice
The word budget can feel “limiting”, but in reality, creating a budget leads to higher cash flow and the ability to meet the goals of your mental health practice more efficiently. Let’s take a closer look at how to build and manage a budget and why it’s an essential tool for your mental health practice. […]
How to Build Wealth as a Mental Health Practice Owner
As the owner of a mental health practice, your priority is helping your clients lead happier and healthier lives. Of course, you can’t serve your clients if your practice’s finances aren’t in order. Likewise, building wealth for your mental health practice requires having a strong financial plan. With the right strategies in place, you can […]
Tips for Pricing Services in Your Mental Health Practice
Your mental health practice focuses on helping people – meeting with clients and understanding their behavioral health needs. You didn’t get into practice to spend hours on behind-the-scenes tasks like bookkeeping, invoice management, and price-setting. However, all that accounting work is a vital part of the job. Setting your prices can be a complex process. […]
How to Proactively Build Cash Flow in Your Mental Health Practice
The focus of a mental health practice should be the well-being of the clients. But it’s important to focus on the financials also. A business that isn’t on sound fiscal footing won’t last long enough to make a true impact. The best place to start building a strong financial foundation is your cash flow. It’s […]