Top 10 Items to Review &
Build Your Business Now!
In building and runnng an independent private practice or small
business, there are many items that need to be monitored closely and should be
reviewed periodically. Year-end is a traditional time do this, and this week's
Letter is a "Top Ten" of items to review as the year draws to a
close, or whenever you decide to pause, reflect, take stock and re-assess.
1. Review your
client statistics: How many clients did you have? On average, how long did they
stay? How did they describe their problem? What did they need or want from you?
Does tracking by gender, age, or other criteria, provide insight about your
business?
2. Review your
referral sources: How do clients find you? Do you have a solid mix of referral
sources? Too few sources makes your business dependent on them, while too many
sources is inefficient. Who refers the most desirable clients? Who refers the
least desirable?
3. Review your
outcome statistics: How many clients had successful outcomes? How many had
unsuccessful outcomes, and why? How many left before you thought they should,
and why? Which clients are you most effective with? Which do you enjoy the
most?
4. Review your
income, month by month: Look for patterns or relationships with marketing
efforts or community events that may impact your business. Does your business
go up when school starts or after holidays? Can you capitalize on any of these
cyclical patterns?
5. Review
environmental changes: Has the community's awareness of your skills or services
been impacted by someone else's marketing, by news stories or controversy this
year? Has your neighborhood changed? Have circumstances made your office more
or less visible? Are other professionals moving into, or out of, your
neighborhood?
6. Review
office policies and procedures: Do any of your forms, brochures, or signs need
to be up-dated? Is it time to add color and graphics? Can office procedures be
streamlined, computerized or contracted out for better productivity?
7. Review your
insurance coverage, lease agreements, partnerships and other documents that
impact your business. Is this the year to incorporate? Consult a professional
about making appropriate changes, and meet with your accountant for a year-end
review and tax planning.
8. Review every
aspect of your professional status: Review your CE requirements, renew your
license(s), pay dues to your professional organizations, and be sure your
liability insurance coverage is adequate and current.
9. Identify and
study the 3 biggest mistakes you made relative to finances, business and
marketing this year. What did you do, or not do? What did you learn? What steps
can you take so that particular mistake or set of circumstances never holds you
back again?
10. Be sure to
acknowledge and thank everyone who has contributed to your success this year,
including referral sources, advisors, colleagues, and especially your clients.
Send holiday greetings, thank you notes, and where it's appropriate, send a
gift or token of appreciation.
Have a great
week! The holidays can be a time of stress - please accept our best wishes that
this year it be a time for peace, joy, and goodwill toward all!
By Philip Humbert
Image by Phil Date
© Copyright
2003 by Philip E. Humbert. All Rights Reserved. This article may be copied and
used in your own newsletter or on your website as long as you include the
following information: "Written by Dr. Philip E. Humbert, writer, speaker
and success coach. Dr. Humbert has over 300 free articles, tools and resources
for your success, including a great newsletter! It's all on his website at: http://www.philiphumbert.com
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