Life Was Good Until it Wasn’t...
Back in the stone ages of the early 90s, when the world revolved around Beanie Babies, Beepers and Blockbuster videos, life as a mom, wife and bookkeeper extraordinaire was, well, pretty perfect. Three kids, a dog, a tent trailer, and the mountains of Colorado as our home made us look like a picture-perfect family. We thought we had the world by the tail.
But then, the unimaginable happened… My oldest daughter was diagnosed with terminal bone cancer. Definitely not what I expected. I was quickly extracted from my comfortable life as a bookkeeper/small business consultant into a warrior-mother.
A 10-year-old child shouldn’t have to deal with a cancer diagnosis, especially one that allopathic medicine had little chance of curing.
And then I Made a Big Mistake...
Instead of sticking to what I knew I did well… I decided to try something new. And this is where my life, and everything that was good, suddenly turned upside down.
I decided to start a brand-new venture in a field that I had NO experience in. Ugh.
I guess I was feeling antsy. 🙂
...Even though I knew that a move like that was against my better judgement… I did it anyway, ...despite the fact that my practice was thriving.
I guess I just wanted “more” – and even more IMPORTANTLY - I didn’t have the business experience or insight to know how to expand into another market in the RIGHT way…
(Oh... if only modern-day Ronda had been there to give myself advice back then )
But the Story Got Worse...
I had to keep seeing patients to keep the cash flow flowing but my mind was elsewhere. Even though my clinic was successful, the revenue started to dwindle as patients weren’t rescheduling like they used to.
They knew I wasn’t fully present. I tried….. but the sheer enormity of the monthly overhead costs was crushing. Something had to give.
And that’s when I got into even more trouble.
….I couldn’t pay my payroll taxes so I ignored them (very bad idea in hindsight).
….I put all of my vendors on a net 30, hoping I would have the money in 30 days to pay for what I’d already sold. But 30 days turned into 60 days which turned into 180 days…..and so on. Soon, I was another $150K in debt.
….I couldn’t pay myself at all, and some days, I wasn’t sure I would even meet payroll.
….I had to become good at negotiating (not one of my strong suits…) to try and reduce my clinic rent.
…. I kept getting further and further behind.
Never a Failure…
In the end, I realized that owning a business is more than simply hanging a shingle, throwing together a website, and hoping people will find you. It requires laser-focused attention on three important things:
- Stay in your own lane - be the expert in your field
- Connect with your perfect customer - build in-person and online relationships
- Make sure your business foundation is solid - create the necessary systems and strategies
Once you’ve got those dialed in, the rest is easy.
So if you’re wondering if you’ll ever be able to take home the income you deserve, have a practice you could only dream about, and live a lifestyle that supports who you are...
The answer is a resounding YES!
Are you ready to begin transforming your own business?
I’d love to help.