Episode 2: The P&L as a Mirror (Even If You Don’t Have One) Part of the Foundations First mini series

In this episode, we’re handing the mic to your practice’s P&L—the profit & loss statement—and exploring what it really has to say. Is it calmly guiding you with clarity? Or quietly warning you from a drawer you haven’t opened in months?

James dives into:

• What a P&L really is—and why it’s essential for every GP practice • How to read beyond the numbers and hear the stories they’re telling • Common blind spots (like locum drift and drawings creep) • Real-life anecdotes from practices who learned the hard way • How to create a “P&L Lite” with zero jargon and no fancy software • Reflection prompts to help partners ask better questions • Practical ways to embed financial culture into everyday leadership

Whether your accounts are live in Xero, Excel or on the back of a whiteboard, this episode will help you listen more closely to the financial mirror you already have—and shape a more proactive rhythm in your partnership.

💡 Especially relevant for practice managers, GP partners, and leadership teams looking to go beyond “feelings” and lead with confidence.

#GPleadership #PracticeFinance #PandLClarity #freemeupInPractice