As 2015 comes to a close, we need to look forward and take steps to prepare for 2016. Proper planning and preparation now will improve your likelihood of achieving your objectives for 2016. Some of the most impactful steps you can take now include the following:
- Build your budget. Use your most recent 12 months to develop an income statement or P&L (profit and loss) statement. Use that as a starting point for building your budget. The best estimate for next year is last year, so start there.
- Assess customer satisfaction and needs. Your customers are the core of your business. It is imperative to get feedback on what they like and don't like about your services. Then, make adjustments to improve.
- Analyze your fees and make necessary adjustments. No single activity can have as much impact on your growth and profitability immediately than setting appropriate fees.
- Engage your team. Get feedback from your entire team about what is working well and what needs improvement in your business. This interaction can be in the form of strategic planning or a simple team survey. Either one, or both, will yield huge benefits for your practice.
If you have any questions or need assistance, you can contact us by using the 'Submit Questions' form on IsMyPracticeHealthy.com.
