Thriving Practice with Tracy Cherpeski
Sep 30, 2026 · 38 min · 12 segments
What's the most important financial document a practice owner will ever have? It's not a mutual fund, a will, or a trust — according to this episode's guest, it's a written financial plan. Tracy…
Mike MilliganGuest
Tracy CherpeskiHost
It's got family, you know, drama and history and maybe even some trauma attached to it.
And then ultimately, the message that I want to drive home to my clients when they're saying, like, "Oh, I just don't want to talk about money," and blah, blah, blah.
I understand, like, right now your doctor hat is on, and when your doctor hat is on, the only thing you want to focus on is your patients, and that is what we want you to do when you're treating patients."
Comma, and when you are working on your business, so you've carved out time to do that.
I've helped them figure out how to make that time and stick to it and guard that like a dog with a bone.
That's the time to be understanding if you are not making enough money, if you are not profitable, you have a very expensive hobby, and it will bleed you dry financially, emotionally, and energetically.
It's not a cheap business to be in, so let's find a way to, you know, make sure that, that you've got it set up in a way that's making money.
And while you're at it, have some professional support in your life to make sure that you are able to have, you know, a nice retirement and that you have a legacy to live.
And if you're creating, you know, generational wealth, which is what we want, right? That's what we want to do for our families.
It's got family, you know, drama and history and maybe even some trauma attached to it.
And then ultimately, the message that I want to drive home to my clients when they're saying, like, "Oh, I just don't want to talk about money," and blah, blah, blah.
I understand, like, right now your doctor hat is on, and when your doctor hat is on, the only thing you want to focus on is your patients, and that is what we want you to do when you're treating patients."
Comma, and when you are working on your business, so you've carved out time to do that.
I've helped them figure out how to make that time and stick to it and guard that like a dog with a bone.
That's the time to be understanding if you are not making enough money, if you are not profitable, you have a very expensive hobby, and it will bleed you dry financially, emotionally, and energetically.
It's not a cheap business to be in, so let's find a way to, you know, make sure that, that you've got it set up in a way that's making money.
And while you're at it, have some professional support in your life to make sure that you are able to have, you know, a nice retirement and that you have a legacy to live.
And if you're creating, you know, generational wealth, which is what we want, right? That's what we want to do for our families.
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