Posted on March 11th, 2024

When's the last time your current CPA or accountant called you to check in and ask you about how they can help you grow your business? Every week we offer free Strategy Sessions to businesses who struggle to figure out exactly what they need to do to achieve their financial goals.

The most important lesson I've learned from all of these calls is that to achieve success, you have to ask the right questions. I can tell you from firsthand experience that this is the only thing that separates the successful business owners from those who struggle just to make a living.

So what does this mean for you? It means that you must go through the process of clearly defining your priorities and coming up with clear, repeatable processes that ensure these priorities are met predictably and consistently.

Here are 3 questions you have to ask yourself if you’re serious about growing your business....

Question 1: How Do I Acquire New Clients & Keep Current Ones?

Growth can’t be left to chance. You need to take action to fight obscurity and get your name and company in front of potential clients. This means spending money on marketing. But too often we see Owners waste thousands of dollars on "hope" marketing with dubious results that are impossible to track.

That's why we've developed a simple, proven system to help our clients understand their marketing expenses and see which ads and promotions are driving practice growth. This allows you to double down on what's working and cut out all the waste. It's also important to have processes in place to nurture your relationships with your current patients. Patient retention is one of the most important drivers of overall financial success due to the fact that it's 10x more expensive to acquire a new customer than to retain an existing one.

Question 2: What’s My Strategy To Maximize Production?

You want to maximize the number of patients you see per visit, sericing, etc. There are several ways to incentivize production. One such way is to come up with a Team Bonus Plan. To be successful, the bonus plan will need to be effective at keeping employees motivated over the long term.

It also needs safeguards to prevent certain behaviors. Such as scheduling customers in the next month after the current month’s bonus criteria has been met. Oh, you don't work by appointment? I highly recommend it. My Barber has lived by it for 30 years - and he's NEVER short on customers!

We can help you devise an incentive plan that motivates your employees to work hard to grow your bottom line over the long term.

Question 3: How Do I Track & Control Operating Expenses?

Increasing production can be an unproductive effort if operating expenses are not managed properly. Expenses need to be tracked month by month and year by year so that abnormal variations can be detected and corrected. You need to know how much your company spends on certain things - payroll, supplies, rent - compares to similar industry benchmarks. We give you this data so you can trim the fat and maximize profitability.

Answer those 3 questions and you'll be ahead of 90% of your peers. The problem is, it can be hard to answer these questions without context. If you want to talk strategy with someone who's helped business owners answer these questions in detail, I still have a few openings if you're ready to schedule your no-cost Strategy Session with me.

I want to give you 45 minutes of my time for free to learn about your business and see if the strategies we use for our private clients might work for you. There's no obligation whatsoever!

In fact, I believe so strongly that I can help you that I'll give you a $10 7-11 gift card if you don't find our call valuable. There's no catch. That's my guarantee to you. Be sure to schedule your Strategy Session ASAP before my calendar fills up!

Thanks again,

Bill