practice-finance-101-mastering-your-revenue-ronda-nelson

178: Practice Finance 101: Mastering Your Revenue

Does the idea of talking about business finances trigger your fight-or-flight response?

I totally get it. 😳

Many practitioners often shy away from the financial side of their practice. And hey, who can blame you? Accounting and business management weren’t likely part of your curriculum.

However, avoiding your books is one of the worst things you can do. 💢 I mean aren’t we always telling patients that we want to get to find out what’s driving their current health condition? And that’s the same conversation we’re having today, but instead, we’ll be looking at how to understand what’s driving your business revenue! 💰💰

Don’t worry! I’m not asking you to send me your P&L or share your numbers. This is a conversation between friends, just you and me. I’ll show you how to look at your revenue through a completely different lens AND give you a free resource to help you identify where you need to focus and get your revenue machine turned on HIGH! 🔥📈

You can’t manage what you don’t measure. Once you have a solid grasp on your business revenue, your Profit & Loss statement will soon become your business bestie! So, let’s get to it! 🚀💸

 

In this episode you’ll hear:

👉 Why financial literacy is key to understanding your numbers.

👉 How to break down your total revenue.

👉 Why distinguishing revenue streams, especially retail sales, is vital for business owners.

👉 How to calculate your cost of goods sold and profit percentage.

👉 Revenue percentage goals for a healthy wellness practice.

 

LINKS:

🗒️ Download the free Revenue Worksheet

🧑‍💻 The accounting firm we use (and LOVE!)

💻 Join the Clinical Business Academy waitlist!

✉️ Submit your questions for Ronda here!

📲 Connect with me on Facebook or Instagram

📬 Join my email list for more tips and strategies

🌟 Rate and review us on your fave listening platform

📹 Watch this episode here

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Please also consider rating and reviewing my show on Apple Podcasts! Reviews go a long way in helping us build awareness so that we can help even more clinicians build profitable practices—just like you! Be sure to leave an honest review and let me know what you loved most about the episode!

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THANK YOU!

Ronda Nelson Smiling

Hi, I’m Ronda Nelson and I help wellness practitioners grow thriving, profitable practices that allow them to work with ease, live a life they love and make an income they can be proud of.

Ronda Nelson & Co.

Phone: (530) 245-0880
Email: Info@RondaNelson.com
Hours: Monday - Thursday 9:00am - 4:00pm PST

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