Rebroadcast | Financial Real Talk: When You're an IBCLC & Business Owner

What does it mean to be a small business owner and a compassionate lactation consultant? 

We got into this business because we love caring for breastfeeding mothers and their babies. But excellent clinical skills don’t always coincide with business and financial savvy. If you can relate, we’ve got you covered.

Money can be a really personal and intimidating topic, and many of us grow up without learning how to talk about money or deal with our own personal finances, let alone business finances. But understanding your business numbers is vital to creating a sustainable, profitable private practice.

In this episode of Lactation Business Coaching, we share our advice, tips, and experiences for creating a successful business and staying on top of your finances. From business expenses to liability insurance to tax planning and what it means to pay yourself a living wage, we’re diving in deep for this Financial Real Talk.

“As a small business owner, you’re both the employer and the employee.”

 

In this episode, we will cover:

• The mindset issue that will cause you to undervalue your worth and undercharge yo
• How to plan for taxes and automate your preparation so that you avoid unpleasant surprises (10:57)ur clients (09:15)
• The major difference between the ‘cost of doing business’ v. ‘business expenses’ (14:55)
• The benefits of hiring a CPS or bookkeeper (24:19)
• How to overcome the fear of spending (32:04)

 

Like this episode? Want more?

The LBC podcast is ALWAYS free, thanks to contributions from supporters. 

Every contributed dollar counts and so do our contributors — as a thank-you gift to our top-tier members, we offer monthly LIVE Deeper Dive sessions with experts and access to all previous Deeper Dive sessions — check out our upcoming Deeper Dives and become a member! 

All contributions count; join at one of our starter levels here!

 

Links and Resources

• Setting Your Fees So You Can Achieve Your Goals (free PDF) https://annie-frisbie-ibclc-inc.ck.page/8435e370bc
• This episode is sponsored by MilkNotes, an all-in-one lactation charting tool. http://milknotes.com
•  HIPAA Compliance https://www.hippa.com
• Jane https://jane.app
• ChARM https://www.charmhealth.com
• Reaching Our Sisters Everywhere http://www.breastfeedingrose.org
• Nikki & Nikki Lactation Career Consultants https://www.youtube.com/channel/UCySgoTbyiCpREfGELEoeCKQ
• Lactation Private Practice Essential Course https://learn.anniefrisbie.com/grow
• Have an idea for a podcast episode or a Deeper Dive? Let us know! https://learn.paperlesslactation.com/form/collaborate
• Subscribe to the Deeper Dive Membership: https://learn.paperlesslactation.com/subscription/deeper-dive-membership

 

If you like what you heard today, please follow us on Facebook and Instagram and leave us a review on iTunes. You can email us questions and comments at hello@lactationbusinesscoaching.com.

 

About Us

Leah Jolly is a private practice IBCLC with Bay Area Breastfeeding in Houston, Texas.

Annie Frisbie is a private practice IBCLC serving Queens and Brooklyn in New York City and the creator of the Lactation Consultant Private Practice Toolkit.

Many thanks to Stephanie Granade for her production assistance, and to Silas Wade for creating our theme music

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