By Eric S. Miller, RFC® Co-Owner & Chief Financial Advisor
ECONOLOGICS FINANCIAL ADVISORS, LLC
What separates average owners from top-performing practice owners isn’t luck, talent, or even hard work. It’s the way they think about money. The most successful owners treat financial decisions like strategic weapons, not passive afterthoughts. They see their practice not just as a business, but as a personal wealth-building machine and they act accordingly.
Imagine two practice owners. Both are smart. Both work hard. Both care deeply about their patients/clients. But years later, one is stuck in the grind while the other enjoys financial freedom, personal wealth and a business that serves their life—not the other way around. What made the difference? It wasn’t luck. It was MINDSET and good financial habits.
Here are the most important 13 successful money traits top-performing practice owners live by:
- They See the Big Picture. Top-performing practice owners don’t get lost in day-to-day minutiae. While they’re aware of operational details, they keep their eyes firmly on the long-term vision. Whether that’s a multi-location expansion, financial independence, or building a business that outlasts them. Every decision is filtered through this big-picture lens, which helps them prioritize high-leverage activities over short-term distractions.
- They Are Impatient with Business Expansion. They have a bias for action. Growth is not a someday goal. It’s a now goal. Whether it’s acquiring new clients, hiring key staff, or expanding services, they don’t wait for perfect timing. They move quickly and decisively and understand that momentum creates more opportunities than meticulous planning ever could.
- They Are Patient with Investing Business Profits. While top-performing practice owners may be aggressive in scaling their business, they are also disciplined when it comes to reinvesting profits. They understand the power of compounding, diversification and long-term thinking. Their investments are strategic and calculated and focused on wealth building, not quick wins.
- They Aggressively Seek Tax Relief. Top earners know taxes are often their largest expense, and they act accordingly. They invest in top-tier financial advisors, accountants and attorneys to help structure their businesses for tax efficiency. Top-performing owners aren’t afraid to explore legal tax-saving strategies that are designed to help them keep more money in their personal ecosystem.
- They Expense Their Profits. Rather than hoard profit or take it all as personal income, top-performing owners find ways to channel it back into the business. Marketing, technology, team development and advisory support are all viewed as investments instead of costs. Their mindset is: “earn more and expense smarter”—NOT just save more.
- They Embrace Business and Financial Analytics. Data is their secret weapon. From patient acquisition costs to profit margins per service line, they monitor key financial metrics religiously. This data-driven decision-making helps top-performing owners optimize faster, waste less, and grow more predictably.
- They Can Tolerate Lots of Money in Their Accounts. While others get anxious sitting on large balances, top performers see cash as a tool-not a temptation. They resist the urge to overspend or do something just because there’s cash available. That liquidity gives them freedom, leverage, and power in times of uncertainty.
- They Are Very Charitable. Top-performing practice owners know that giving multiplies their impact. Whether through donations, free services, or community projects, they integrate philanthropy into their business model. This not only feels good, but it builds trust and reputation with their community, often leading to deeper ties and client loyalty.
- They Have Constant Attention on Their Finance Lines. Finances are not something they merely look at once a quarter or only during tax season. Their P&L (profit and loss statement), cash flow, receivables, and projections are reviewed regularly. This constant awareness keeps them nimble, ready to pivot and ahead of problems before they become crises.
- They Ignore Most of the Traditional Financial Advice. While traditional advice (such as saving 10% percent of your income or buying term insurance) may work for the average person, top-performing practice owners play a different game. Top-performers think in terms of velocity, leverage and opportunity cost. They create their own financial playbooks based on real-world results, not textbook formulas.
- They Have the Discipline to Follow a Written Plan. Success doesn’t come from motivation; it comes from systems. Top-performing practice owners have written financial and business plans, and they follow them. These plans act as roadmaps; helping them stay focused, track progress, and make better decisions under pressure.
- They Reward and Celebrate Their Achievements. They don’t just work hard, they celebrate well. These owners understand the importance of marking milestones; both for themselves and their teams. This boosts morale, keeps the journey fun and reinforces a culture of excellence and appreciation.
- They Have High Business Ethics. Lastly, and most importantly, top-performing practice owners play the long game. They build reputations on trust, integrity and transparency. They do what’s right, even when it’s hard. And they attract clients, team members and partners who share their values. Ethics aren’t a PR strategy—ethics are the foundation of sustainable wealth.
Being a top-performing practice owner isn’t about luck or hustle—it’s about adopting and mastering a specific set of money habits that drive long-term success. These 13 traits aren’t suggestions. They’re the standard at the top. Study them. Model them. Make them part of who you are. Because when you shift your mindset and financial behavior, you don’t just survive, you unlock the ability to perform at a high level and build a practice that funds your freedom and fuels your financial future.
Want to know how your financial traits stack up? Take the Financial Prosperity Index® assessment and discover what is holding you back. Then schedule a complimentary Wealth Building Strategy Session with one of our specialists—and get clear on the next best moves for your practice and personal finances.
Love to Listen Instead of Read?
Check out this topic in an episode on the Financial Beast Podcast Channel: 13 Traits of Financially Successful Practice Owners