Call me crazy, but I like talking about what others don’t talk about—especially when it comes to Chiropractic.
For example, most D.C.s don’t really know where their money is going… especially as it relates to their practice. When I ask “Why?… Too painful?” …they sorta laugh as their way of saying, “Yes, it is.”
Without knowing exactly where your money is going each and every month, you lose the ability to stay nimble. You can’t make the small tweaks in expenses and direction that can grow your practice.
If you wait too long, it could be too late. You may lose the ability to make the changes that can make a difference.
But most of all, it becomes overwhelming.
You lose motivation.
So talk to your accountant and/or bookkeeper. Each and every month, get a detailed “Profit and Loss” statement (“Cash Basis”, NOT “Accrual”).
Know where your money is coming from and going to.
Soon, it will become empowering and not painful anymore. 🙂
P.S. – Tomorrow, I will talk about expenses in more detail—what’s reasonable, what’s excessive, and how to know the difference.
