If you’ve ever wondered on how to create a clear brand statement for your target audience and how to identify the best marketing activities to grow your practice, then this episode is for you. I’m joined by Hannah Boeck, the founder of Cued Creative and The Branded Site, who shares critical questions to ask yourself as you look to create, enhance or completely change your practice's marketing activities. By working with over 200 private practices, Hannah shares tips and insights on how to...

If you’ve been looking for a way to supercharge the growth of your practice by earning school or government based contracts, then this episode is for you.

Whether you are looking to sell your private practice or purchase one, there is one number that is more important than any other. Seller's Discretionary Earnings (SDE) is the backbone of determining the valuation of your practice or a practice you are looking to purchase. In this episode, we discuss... The 5 step process to purchase or sell a private practice How to conduct the proper due diligence of a business The definition and calculation of seller's discretionary earnings Common...

Many private practice owners aspire to grow their private practices. The only two ways to grow your private practice are organically and inorganically. This episode focuses on when it may be appropriate to grow through a merger or acquisition of another private practice. In this episode, we discuss… The difference between organic and inorganic growth 6 reasons to consider growth by acquisition 4 ways to be a prepared buyer How to structure and finance a transaction For all resources and...

My guest on this episode is Hallie Bulkin, the CEO and Founder of a private practice called Little Sprout Speech, LLC. Her business has been incredibly successful as it has doubled annual revenues in each of its first 6 years. As her practice continues to thrive, Hallie began to diversify her revenue by introducing an online course and a membership community. Hallie and I discuss the following... How she grew her practice revenue from $0 to $100,000+ in her first 8 months of business Why...

My guest on this episode of SLP Money is Lana Fox, the CEO of Clinic Note, an EMR designed to help SLPs stay compliant and be more efficient. While most clinicians know they should be using an EMR, Lana and I spend most of our conversation talking about the attributes that has helped make her a successful CEO. These include... Educating your customer on the services that you provide so they can make an informed decision on working with you and your practice.  Networking with local programs...

One area of financial planning that is often overlooked by SLPs and many others is disability insurance. If you are unable to work, this coverage provides an ongoing income stream. The ability to earn a paycheck fuels your lifestyle. This is the money you need to pay your bills and the mortgage. In this episode, we discuss the following... Why your most valuable asset is your ability to earn an income The importance of having an own-occupation definition of your daily job responsibilities...

My guest on this episode of SLP Money is Cameron Huddleston, the author a book titled Mom and Dad, We Need to Talk. Many parents raise their children to position money as a taboo topic that is not discussed with family or friends. Talking about money with our aging parents can be a difficult thing, but it is necessary to do in order to avoid harder situations in the future. Cameron was inspired to write this book based on her personal experiences. Her father, an attorney by trade, passed...

There are many financial considerations that private practice owners must review at various points in the lifecycle of their businesses. Most decisions you make will not be set and forget it. It is important to ask important questions of yourself and your business to spot proper planning opportunities, minimize complications that may occur, and make sure you are on the right path for your practice. These issues can be categorized into the following categories… ·        Business Cash...

My guest on this episode is Jena Castro-Casbon, a private practice consultant who works with SLPs just like you to realize their dream of starting and growing their very own private practice.  Jena has helped over 10,000 SLPs get started and grow their businesses to their definition of success. We talk about the importance of mentorship and how two colleagues helped inspire her to take the leap and start her own private practice. As Jena says, it only takes 1 client to start your practice,...

A common financial goal that many speech language pathologists have in common is saving money for retirement. Many SLPs realize too late in their career that they have fallen behind on contributing to retirement and feel that they must play catch-up. In this episode, I discuss the following reasons why SLPs fall behind in retirement… Failing to prioritize retirement over other financial goals Losing track of retirement as part of their overall financial plan Missing an employer match...

My guest on today’s podcast is Susan Arnold, the owner of a successful private practice that has been in business for nearly 20 years. She is also the president of an association called AAPPSPA, an organization created to help SLPs and audiologists run their business better.  In this episode, we talk about the role that communities have in personal, professional and business growth. As a certified orofacial mycologist, she discusses the benefits of joining an organization devoted...

On today's episode, we discuss how to track your financial progress. Many SLPs are used to tracking client progress towards accomplishing goals, but they fail to do the same in their own financial lives. We talk about 5 specific metrics to measure your advancements towards achieving your financial goals. These metrics are... Your Net Worth Private Practice Valuation Savings Rate Investment Rate of Return Marginal Tax Rate For all show notes and links mentioned in the episode,...

On today's episode, we dive into the world of ASHA. As an SLP, I'm certain that you are aware of the American Speech-Language and Hearing Association. You are also most likely a member of this association. While nearly all SLPs are affiliated with ASHA, we've encountered many practitioners that wonder if they are missing out on using the membership to it's full capacity.   You can learn everything you need to know about ASHA by reading this guide that our team put together...

One of the biggest challenges for private practice owners is finding ways to attract, motivate and keep your most crucial employees. In today's episode, I discuss the following... Why you should carve out specific rewards for your key employees 5 characteristics of a strong incentive plan How to determine if you should issue a cash or stock bonus plan The Pros and Cons of using a stock based plan 3 different ways to offer cash-based bonus plans For all resources mentioned head on...

The Coronavirus Aid, Relief and Economic Secuity (CARES) Act was signed into law on Friday March 27, 2020. Whether you are still in college studying communication sciences or a retired speech language pathologist, there is something for everyone in this act.  The act contains five key areas of economic relief for SLPs… Recovery Rebates Coronavirus Related Distributions Unemployment Benefits Student Loans Small Business Owners For all resources head over to utterlyfinancial.com/5/

Nearly every SLP and Private Practice owner is being impacted by the Coronavirus pandemic. With the closure of workplaces and municipalities, clinicians are worried about how to maintain an income and keep their clinic operational.   In today's episode, we discuss some common questions that clinicians have been asking since the outbreak of this pandemic.  -What Government Resources are Available During this Pandemic -Where can I find cash on my personal and practice's balance...

(https://www.cnbc.com/2015/04/13/ew-small-biz-have-an-exit-plan.html) say the proceeds from the sale of their business will fund 60-100% of their retirement income. However, 98% of owners do not have an accurate valuation of what their business is worth. How can there be such a disconnect between these two statistics? In today's episode, I'm joined by Jason Early, the Chief Revenue Officer of BizEquity, to discuss how business owners can close the gap on those two statistics. We discuss...

Insurance plays a critical role in every business plan and personal financial plan. It exists to mitigate the risk and consequences of an unexpected event that leads to economic loss. In today's episode, we discuss the following... The 4 ways to handle risk and when insurance should be used Defining the following types of insurance and why they are critical components to every SLP's financial plan... Long-Term Disability Insurance Life Insurance Professional Liability...

Every private practice owner will exit her business someday, either voluntarily or otherwise. In today's episode, we discuss the following... Explaining the benefits of an exit plan and why every business must have one The different people or entities that can become the successor owner of your practice Creating a timeline that aligns with your goal of when you want to leave your business How to calculate the amount of money you need to generate from Preserving and protecting the...

SLP Money is the podcast that focuses on career growth and financial empowerment for Speech Language Pathologists and Private Practice Owners Listen in as Craig Goldslager, a Certified Exit Planner and Financial Planner, answers the questions on the mind of the modern SLP and Clinician. Whether you're a new SLP who just completed CF and want to get started on the right foot, or an experienced private practice owner who's hit a wall, we're here to give you specific insights and actionable...