If you are not sure where to start when looking at your practice success, then this is a great little starting point for you. Its not hard, but does require you to sit down in a quiet space and start to think about what are the important things that happen in your practice that will help make it successful, and how will you track the performance of those things over time.

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Starting a practice is very rewarding, but it can also be challenging and take up more time that you realised – administration time is one of those forgotten time consuming roles that you will need to devote time to when you start up. Having some good knowledge in basic business skills will help you ensure you hit the ground running and that you are making the most of your time and resources. Here are 4 skills I think are essential when starting up a practice.

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Tuesday, 26 April 2016 09:41

Minimising client debt

We all love to believe that all clients will pay on time for our services, but in reality it does not always happen. Outstanding payments can really affect your cashflow, and it often means more admin time organising a way to collect the money. Any practice owner, even sole practitioners, need to develop a system that helps reduce the likelihood of people not paying in the first place, and then a way to collect the debt if that occurs.

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Monday, 22 February 2016 16:24

Getting comfy with your numbers

Last year I shared how it’s difficult sometimes as an allied health professional as we don’t necessarily learn the financial aspects that are required to run a service, or run a business. Today we continue our learning...

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Tuesday, 08 December 2015 07:51

Looking at more than the bottom line

It’s difficult as an allied health professional as we learn how to be clinicians and practitioners but we don’t necessarily learn the financial aspects that are required to run a service, or run a business. I am by no means a financial specialist so the information I share here is not financial advice; it is more about presenting things for you to think about, words to know, and questions to ask when talking with your accountant, bookkeeper or financial advisor.

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