Taking the leap into practice ownership brings incredible opportunities to uncap your income potential and control many aspects of your work life, but it also brings a number of responsibilities. This lecture will cover the best practices of managing your ‘financial house’. Learning objectives: 1. Organize your financials in ways that are no more complex than they need to be. Owners will have to do some work in their practice financials, but they should keep it simple. 2. Create financial statements and structures that give insight into how your practice is really performing. 3. How scheduling periodic audits is the key to avoiding mistakes, losses and even theft.