Mastering the Financial Dimension of Your Practice: The Definitive Resource for Private Practice Development and Financial Planning

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Taylor & Francis, Aug 2, 2004 - Psychology - 256 pages
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Most therapists would not identify themselves as business people, yet running a successful practice is a complex business. For a population accustomed to empathizing with clients, financial planning is not intuitive. This volume, written by two therapists with extensive business experience, offers sound advice for mental health professionals in private practice.

Mastering the Financial Dimension of Your Practice is organized into four sections, each addressing the unique concerns of the therapist in private practice. The authors first offer a basic course in financial planning, including an investigation into "Five Common Financial Mistakes Therapists Make" and various "solutions" to each situation. The second section explores the lifecycle of the modern therapy practice, offering best business and investing practices for each phase. The third section considers the emotional dimension involved in the development of a private practice and the financial planning of a private practitioner, written in the thoughtful language of psychotherapy. Providing a self-guided financial planning seminar, the fourth section is designed to offer a road map of action to take in establishing a financial plan. Concluding, the book is an inspirational discussion of how the therapist in private practice can create a career with meaning, fulfillment, personal satisfaction and solid financial rewards. Also included is a useful primer on Quickbooks software.

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About the author (2004)

Peter H. Cole is a Chartered Financial Consultant and Licensed Clinical Social Worker, and Director and Financial Services Specialist of Insight Financial Group, Sacramento, California. Insight Financial Group specializes in retirement planning for psychotherapists and their families. Peter Cole is also a Assistnat Clinical Professor of Psychiatry at the University of California Davis School of Medicine and co-director of the Sierra Institute for Contemporary Gestalt Therapy.

Daisy A. Reese, LCSW, is co-director of the Sierra Institute for Contemporary Gestalt Therapy, where she supervises psychotherapy interns and has helped numerous therapists to launch their own private practices. Mrs. Reese serves as Marketing Director of Insight Financial Group, and is Founder and Director of Insight for Leadership, a non-profit agency dedicated to providing free, long-term psychotherapy to economically disadvantaged young adults.

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