071: Give Your Practice a Financial Check-Up with Eric Miller
Knowing the financial health of your business is essential if you want your practice to grow. Unfortunately, most practice owners use the balance in their checking account as a barometer of their clinic’s financial success, but this isn’t exactly the best way to run a business.
A key CEO responsibility is knowing how the money comes and goes to manage and sustain continual growth. I believe there’s no one better to address this subject than my good friend, Eric Miller. He is incredibly passionate about helping practice owners improve their financial outcomes and works with clinicians to build a compelling financial future, one step at a time.
His street creds are pretty darn impressive. Eric is currently the co-owner of Econologics Financial Advisors and has over 20 years of experience in the financial planning industry. He has worked with over 20,000 private practice owners to help them gain traction in their business finances and prepare for a successful retirement.
Truth be told, I wish I would have known Eric many years ago when I was about to lose everything. Having someone lay out a strategic plan to help reach your financial goals and perform a financial check-up on your business is a game-changer – and Eric is the guy who can help us do just that!
So buckle up, my friend, because today’s podcast is going to completely transform the way you think about your personal and business finances. Get ready to re-calibrate your financial barometer so you can start reaching those money goals you’ve always wanted!
- (3:22) Eric’s perspective on the way we view the flow of money and why a regular financial check-up is essential.
- (7:43) This line item can be greatly affecting your overall financial health.
- (9:32) Money issues happen to everyone; the difference is whether or not you’re prepared for them.
- (11:40) The five most important accounts you need for your business.
- (19:34) What to do if you’re not good at having the money conversation with patients.
- (22:15) How to make your business bulletproof against the unknown future.
- (34:00) What kind of financial goal are you reaching towards?
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