It’s April 1 – the start of my new financial year.
Every year I take time to study my accounts, really analyse what I have earned and what I have spent. And then I consider if I could do things differently, if I could make more money and spend less.
To be successful as an independent health or complementary therapist, we really have to be on top of our finances.
If you, like me, are so busy treating throughout the year it will really pay to spend a day or half day going over your books in detail.
Here’s what I do. I have a bookkeeper and an accountant to handle my finances but I still study what I have earned and how that money has arrived, be it in cash, bank transfers or card payments.
And then I ask myself a few questions that I would like you to ask yourself. Are you paying for a credit card machine? How much is it costing you every month? Could you get a cheaper deal?
Then I look at the software I am using in my business operation. Have I subscribed to products I no longer use? Think about what you are paying for. Do you need all that software?
And what about technical services? You may pay a company to update your website. Ask yourself if you could get a better deal if you shopped around. Or could you handle some of your on-line content yourself?
Then there are the sundries that we all need in our line of business, whether they are massage products, couch roll or towels. Does in pay to buy in bulk or is it cheaper to buy local?
At this time of year it is useful to cast a critical eye over your premises. Does any of your equipment need upgrading? If you hire equipment, don’t go back to the same supplier immediately. Shop around. See if you can get a better deal.
What about your utility bills? Electricity, mobile phone supplier? You need to be aware of cheaper deals with other companies.
My message is to Investigate options and never waste money. You will be surprised at how much little savings add up to.
Keeping a tight rein on spending and working smart to maximise my income is how I have grown my successful physiotherapy clinic.
My methods are the foundation for my Abundant Therapist coaching programme for therapists like you.
If you feel you cannot get on top of your finances, send me an email to [email protected] so we can set up a call and can discuss how I can help you..