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Ideal PracticeAuthor: Wendy Pitts Reeves
How do I find clients I actually enjoy? How do I make more money without feeling guilty? Can I run a private practice and still have a life? These are just some of the questions long time psychotherapist, group practice founder, and serial entrepreneur Wendy Pitts Reeves tackles each week on The Ideal Practice Podcast.Here, youll learn how to create your version of an Ideal Practice that serves you as well as you serve your clients. Learn how to think like a marketer, attract clients you love, get paid well for what you do, and have a life. Well talk about the power of intention, the energy of money, and how to banish imposter syndrome for good. In short, well dive deep into what it takes to develop a healthy business that is profitable, impactful, and - can we say this? - enjoyable.When healers stand in their power, make peace with profit, and honor the difference they make in the lives of others, they can change an entire industry.With a mix of interviews, special guests and solo shows from Wendy, you wont want to miss a minute of this. New episodes every Tuesday. So hit subscribe, and get ready to change your life. Language: en-us Genres: Business, Entrepreneurship, Health & Fitness, Mental Health Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
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How to Use a Profit & Loss Statement to Run a Healthy Private Practice, with Randall Avery | IP184
Episode 184
Monday, 16 February, 2026
Okay - I’ll admit it. My bookkeeper used to send me a Profit and Loss (P&L) statement for my practice every time we met - and I barely looked at it.Not proud of that.But I blew it off because I didn’t really understand HOW to use it, what the various segments meant, or how to pull information from those long columns of numbers that I could actually use.Well - not any more. Today, I go over those suckers with a highlighter and a pen, and I keep the latest one on my desk so I can refer back to it when I make decisions.That’s what a P&L can do for you. And today, we are going to teach you how to do the same thing. :)In this episode, I’m joined by Randall Avery — a former corporate finance professional who now helps mental health professionals and other practice owners understand their numbers. With his help, we broke this stuff down in a way that actually makes sense.No jargon. No shame. No such thing as a dumb question.Just clarity - and I think you’ll love that.In this episode, you’ll learn:What a P&L actually is (and what it isn’t.)How to break down revenue sources in your practice. (So helpful when deciding where to focus your growth! 🎯)The difference between cost of care and operating expenses. (Totally new to me, y’all.)Why tracking trends over time matters more than one “bad” month.How keeping a healthy stash of reserves changes everything.We also talked about the emotional side of money — the avoidance, the shame, the “I should know this by now” energy that keeps smart, capable clinicians (like you and me!) stuck.Yeah. You know what I’m talking about - don’t you?I know. I see you.But learn this skill and you can shift from guessing…to knowing.From bracing for impact… to planning for expansion.I also asked Randall to create a simple P&L tool for you, so you’d have something to check with if you want a visual reference to follow along. You’ll find a link to that down below. (Thank you, Randall!)I’m always thinking of you guys and how to help. I hope today is one of those times. :)~WendyP.S. And y’all, if this episode stirs something up —and you’re wondering what else you may be missing in your practice — start with the IP360 Scorecard. It will help you see where your practice is strong, where it’s leaking, and what needs attention next. Grab it here._______________TODAY’S GUEST: Randall AveryRandall Avery is a former corporate Financial Planning & Analysis (FP&A) professional who now helps mental health professionals, attorneys and other service-based practice owners understand and optimize their financial performance. He brings clarity, structure, and strategy to small practice financial management — helping owners move beyond guesswork into confident decision-making.And at my request, he’s created a sample P&L to help you with today’s teaching. Get your copy right here. His book: Hacking The System by Creating Your Own System: A practical guide to making your money count while building wealth.Website: Deasil Wealth Management | LinkedIn: Connect with Randall AverySupport the showWendy Pitts Reeves, LCSWHost, Ideal PracticePrivate Practice Coach and Mentorwww.WendyPittsReeves.comWendy@WendyPittsReeves.com
