Profit First for Therapists by Julie Herres is one of the clearest financial systems ever written for therapy practice owners. It addresses the core issue most clinicians face: revenue isn’t the problem, it’s how cash is managed once it comes in.
This book gives therapists a step-by-step framework to organize finances, pay themselves consistently, and stay ahead of tax season. If you’re running your own practice and feel like you’re always behind financially, this book offers a structure that works with the way therapy practices actually operate.
How the Profit First System Works
The system uses a simple but powerful shift in how cash is handled:
Instead of saving profit after expenses, you set aside profit first and run the business on what remains. That one change forces clarity. You open separate accounts for Profit, Owner’s Pay, Tax, and Operating Expenses, and allocate funds into each with every deposit.
It creates visibility. You know what’s available, what’s already spoken for, and what your practice can actually afford to spend.
Tailored for Private Practice Realities
Julie doesn’t offer a generic business book. She built this for therapists—owners dealing with insurance payments, clinician payroll, lumpy cash flow, and no formal finance training. She provides realistic percentages, common mistakes to avoid, and examples pulled directly from real practices.
This makes it easy to implement, even if you’ve never followed a budget or reviewed a financial statement. You can get it set up over a weekend and feel more in control by Monday.
What I See as a CFO
I work with therapy practice owners who want to grow, hire, and eventually exit. The ones who have read this book show up with systems already in place. They’re not perfect, but they’ve already separated their accounts, built a rhythm around allocations, and started paying themselves with purpose.
That makes real strategy possible.
Profit First gives you structure. Once that’s in place, we can start making more advanced decisions around taxes, compensation models, and long-term equity. You don’t build scale on a messy foundation. This book helps you clean that up.
Who This Book Helps Most
- Solo therapists struggling to pay themselves consistently
- Group practice owners who are tired of tax surprises
- Clinicians ready to stop guessing and start managing their money like a business
If your income looks strong on paper but you feel like you’re always playing catch-up, start here.
Final Thoughts
Julie Herres has written a practical, no-nonsense financial guide that meets therapists exactly where they are. It’s full of good advice with practical systems to put in place to grow your business profitably and sustainability.
For any clinician trying to move from financial stress to financial control, Profit First for Therapists is the right first step.
Get the book here: https://www.profitfirstfortherapists.com
Want to Go Deeper?
Once you’ve got the basics in place, the next step is learning how to use Profit First at a strategic level.
Start with Chapter 1 of our ebook: Profit First, Unofficial: A CFO’s Playbook for Owners