We’re talking about money again, everyone! My guest today, Carla Titus, has nearly 20 years of experience as a financial professional and CFO that she brings to the discussion. While we chat about some of the basics of financial management in a practice, we spend most of our time talking about compensation and profit sharing. Carla is a dynamic individual with a ton of knowledge in this area, so you’re guaranteed to learn something useful during this episode. Here are a few topics that we discuss:
- Common profit percentages for different types and sizes of practice
- How to back out of a compensation structure where you’re paying people too much
- How to actually implement profit sharing
- “Level up” strategies for practices with healthy financials
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About Carla Titus
She is the owner/CEO of Wealth & Worth Within a fractional CFO firm who provides financial consulting and advisory services to group practice owners. Finance expert with over 17 years of combined corporate financial planning and analysis as well as businesses financial consulting experience. Our priorities for our clients at Wealth & Worth Within range from growing profits, increasing cash reserves, and paying the owner well, so they can build personal wealth.
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About Dr. Jeremy Sharp
I’m a licensed psychologist and Clinical Director at the Colorado Center for Assessment & Counseling, a private practice that I founded in 2009 and have grown to over 20 clinicians. I earned my undergraduate degree in Experimental Psychology from the University of South Carolina before getting my Master’s and PhD in Counseling Psychology from Colorado State University. These days, I specialize in psychological and neuropsychological evaluation with kids and adolescents.
As the host of the Testing Psychologist Podcast, I provide private practice consulting for psychologists and other mental health professionals who want to start or grow psychological testing services in their practices. I live in Fort Collins, Colorado with my wife (also a therapist) and two young kids.
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The post 481. Profit Sharing & Compensation w/ Carla Titus appeared first on The Testing Psychologist.
