What Numbers Do You Need to Know for Your Practice?
Dr. Holly Tucker discusses the course that she is presenting on March 22, 2022. Topics that will be discussed include profitability, KPIs, time efficiency, and more. Watch the video for more!
Register for the “Numbers You Need to Know in the Chiropractic Business” webinar today!
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Transcript:
Hey, there I am Dr. Holly Tucker numbers you need to know in chiropractic business, what is the first thing that comes to your mind when you hear that title? And does it actually make you want to sit through it in our webinar. Now, there are a lot of different ways that this presentation could go. But I’m going to tell you a few ways that it is going to go and a few ways that it’s not going to go, Okay, this is not a practice management talk. This is not tax advice. This is not financial planning. This is going to be a simplified way of looking at how you run your day-to-day business, and how you assess the strengths and the success of your business in a more objective manner.
Okay, so the modules that I’m going to be talking about in this presentation are going to be looking at these themes that I have down here at the bottom, we’re gonna be looking at cash flow, we’re going to be looking at your key performance indicators in your business, we’re gonna be looking about how you spend your time. And we’re overall going to come to a sense and a feeling of abundance. Because listen, there is more than enough out there for everybody. We just have to make sure that we are focused and we are simplified and that we are intentional with making your business the most successful business that it can be.
Okay, so here’s a preview about three numbers, specifically that we’re going to be looking at in your chiropractic business. Number one, what is your compensation ratio? What is your cost of doing business? And what is your generation potential? Okay? And what do those numbers mean? I’m a certified profit-first professional, and learning that methodology brought me to looking at these key indicators in your business. Okay, if you don’t know much about profit, first, we will intro exactly what that methodology is during the webinar that’s coming up. But essentially, these three things right, here are things that I want you to be very clear on by the time we’re done with this training is what is your compensation ratio, how many times do you have to divide your dollar of revenue that you generate? Before you get to pay yourself before you get to bring that money out of your business? And bring it home to your family? Who you take that quality time away from to be so devoted to your business? Okay, what is your what are your essential costs of doing business? Let’s get down to the nitty-gritty and find what is absolutely necessary to the success of your business. And where can we see improvements, okay, because whether or not you know, maybe you haven’t gone out on your own yet, you don’t consider yourself an entrepreneur, maybe you’ve been in practice for five or 10 years, and things are going good, but they’re not great? Or maybe you’re on the other end of the spectrum. And you’re starting to think about your exit strategy, right? Thinking about retirement, we need to make sure that your business is lean and efficient so that it is attractive to that next generation. Okay.
And then the last module we’re going to talk about is what is your generation potential. Okay, we are seeing all sorts of new things come out of you know, changes in the marketplace and you know, changes in technology. What is your generation potential? How do you generate money in your business and for yourself, and what impacts scaling to that next level? Okay, so these are all things we’re going to be talking about in the webinar that I’m going to be putting out with the Illinois Chiropractic Society. So thank you so much to the raving fans out there who brought me to bring this presentation to the Illinois Chiropractic Society, and I look forward to meeting all of you very soon.
