If there is one thing my career has taught me it’s that …. A significant business challenge WILL come your way in the next 5 years or sooner!
It may be, staffing, rates rise, rent rises, litigation etc etc… it doesn’t really matter who you are, or where you practice ….IT’S COMING!
Cash
So the question is…
How are you going to make sure you keep more cash in the tank for the next “crash”?
Here are my two biggest tips – besides the clichéd “make more”, “sell more”, “serve more” and “market more”.
1) Know your “Break-even” figure expressed as a number of adjustments per week.
…here’s how
- Be brutal and really work out what your break-even number is asap.
- Don’t leave any expenses out!
- How many visits a week do you need to see to hit BREAK-EVEN?
- Also, make sure that that “break-even number” includes a basic salary for yourself…
Next – 2) Net Cash On Hand
A clean monthly Balance Sheet or ‘net cash on hand stat’ is essential in order to know “what’s available”.
A tip: Proportion a tax allowance per month, preferably even a separate account to siphon that money out of the “main account” so that the “cash on hand” statistic you get every week… is as close to “available cash on hand “ as possible”.
THIS IS IMPORTANT…
Once you fully understand what you need to be seeing to “oil the machine” it gives you immense clarity and a feeling of relief once you’re hitting it each week…
Then the magic happens…
FEAR BEGINS TO DISSIPATE 🙂
You start operating from a place of abundance, not “need”.
Hope that helps.
Love and light,
Ryan
