Let's Talk About Your Base

...the base level of the HHN, that is!

Hey there. 

Let’s talk about SALES.

I know that for a lot of people, it feels weird to talk about patients in terms of sales. Like we’re being slimy by recognizing that if we’re not serving clients, we can’t afford to keep the lights on. That’s simply not the case.

We are business owners, even if our business is caring for others. And since we’re business owners, we have to think about the bottom line: profitability. We cannot begin to be profitable if we don’t have sales.

That’s why it’s the bottom level of the HHN. Without money coming in the doors, we’re dead in the water. It’s necessary to shore up this level before you move on, otherwise, you’re just building castles on quicksand. You can’t establish permanence until you have a consistent, stable cash flow.

So here’s a quick win for you. One easy way you can start getting the sales level of your practice where it needs to be: Figure out your lifestyle congruence. How much money do you, the owner, need to make to maintain a comfortable lifestyle, and how much money then does your business need to make in order to afford your salary?

Here’s how.

1. Calculate your ideal salary. Using the example above, $100K/year.
2. You know that, as the owner, you’ll take 20% of the business’ profit as your salary.
3. So 20% of (x) = your salary ($100K)
4. Figure out (x) by dividing your goal by 20%. In this example, the business would need to make $500,000 in profit this year in order to afford your salary.

I hope this helps you as you navigate entrepreneurship. Keep on fixin’!

 PS, My new book Fix This Next for Healthcare Providers goes into more detail about Lifestyle Congruence and the other four pieces that make up the SALES level of the HHN and includes a few sample treatment plans!