3 Ways to Improve Your Bottom Line
How can this change? Let me suggest a few ways to easily improve your bottom line starting today:
1. Examine all of your income streams. Which pay you adequately? Which pay poorly? Which make you go through enormous effort to get paid? If you want to see you income increase quickly, plan to eliminate the one income stream that pays the least and gives you the most hassle to get paid.
Inform all of your current clients about your decision and give them adequate time to get used to the idea. Once the income stream is eliminated from your business, you will see you income increase due to the fact that you are getting paid more per hour (on average).
2. Return all phone calls promptly. You will have more clients and more returning clients if you offer top notch customer service—return phone calls promptly, be on time for appointments, and of course offer top notch, quality care. I know this sounds too basic, but trust me, I hear from clients all the time that they are now MY client because the 5 therapists they called before me never called them back. You must adopt the mindset that every new call or referral you receive is potential income. Don’t leave money on the table with sloppy customer service. Returning calls and being on time are easy, requires no monetary investment, but many health care professionals neglect it and suffer financially due to this oversight.
3. Be upfront and honest with clients about your fees and financial policies. People will not respect your business if YOU don’t respect your business. Most clients understand that you offer a service for a fee.
When you initiate your relationship, be open and honest about how you get paid and how much you expect to get paid. This will make it much easier to ask for payment as treatment progresses.
Do you have any other ways that you use to improve your bottom line? Share them in the comments.