𝗪𝗵𝘆 𝗠𝗼𝘀𝘁 𝗖𝗹𝗶𝗻𝗶𝗰 𝗢𝘄𝗻𝗲𝗿𝘀 𝗗𝗼𝗻'𝘁 𝗞𝗻𝗼𝘄 𝗧𝗵𝗲𝗶𝗿 𝗡𝘂𝗺𝗯𝗲𝗿𝘀
So, I was chatting with a clinic owner the other day, a fantastic person who's built a real gem of a practice.
They were nearing retirement and thinking about selling – a well-deserved reward for years of hard work, right?
Naturally, when it came time to discuss the numbers – the heart and soul of any business – I expected a detailed rundown.
𝗕𝘂𝘁 𝘁𝗼 𝗺𝘆 𝘀𝘂𝗿𝗽𝗿𝗶𝘀𝗲, 𝘁𝗵𝗲𝘆 𝗵𝗮𝗱 𝗻𝗼 𝗰𝗹𝘂𝗲.
Zero. Zilch.
Big red flag alert!
Think about it: how can you price your business fairly, or even negotiate effectively, if you're flying blind?
Potential buyers need to see a clear picture of your clinic's financial health.
Without those numbers, they're left guessing, and let's be honest, nobody likes surprises when it comes to their hard-earned cash.
Now, you might be wondering, what numbers should I know?
The key is speaking the language of business fluency and understanding your clinic’s financial health.
It gives you the power to make smart choices, take control, and ultimately, reach your financial goals.
𝗧𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗻𝘂𝗺𝗯𝗲𝗿 𝘁𝗼 𝗸𝗲𝗲𝗽 𝗮𝗻 𝗲𝘆𝗲 𝗼𝗻?
Monthly revenue – the lifeblood of your clinic.
But it's not all about how much comes in…..
We also need to know your profit margin – that's how much you have left after all the bills are paid.
Don't forget about overhead costs, like rent, salaries, and equipment – they keep the clinic running smoothly.
Then there's patient acquisition – how much does it cost to attract a new patient?
Finally, there's patient lifetime value – the total revenue you can expect from a single patient over time.
These are just a few key metrics, but trust me, mastering them is the key to unleashing your clinic's true potential.
𝗦𝗼, 𝘄𝗵𝗮𝘁 𝗶𝗳 𝘆𝗼𝘂'𝗿𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁𝗹𝘆 𝗶𝗻 𝘁𝗵𝗲 "𝗻𝘂𝗺𝗯𝗲𝗿𝘀 𝗱𝗮𝗿𝗸 𝗮𝗴𝗲𝘀"?
You can absolutely learn the powerful skills needed to track and analyze your clinic's financial performance.
That's exactly what I help my clients do in my coaching program.
We take the mystery out of the numbers, showing you how to harness their power to transform your clinic into a thriving, profitable machine.
Imagine – a business that not only delivers exceptional patient care but also sets you on the path to financial freedom.
If you're ready to take control of your clinic's financial destiny and pave the way to financial freedom, I invite you to join our coaching program.
Click the link in the first comment to find out more.
Let's turn your clinic into a thriving, profitable venture that not only sustains you but empowers you to live life on your terms.
CCO & firm leader delivering corporate affairs counsel to build and protect reputations, strengthen stakeholder trust, build brand value and advance business interests
2moOnce a #BursonPerson, always a Burson person. Such a great re-positioning and -branding of the firm. Really proud of my time there and excited for all of you - and your clients - as the ship sets its course. Bon voyage.