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a blog by Chris Barrow

Having the confidence to make hiring decisions – because you know your numbers

Bringing on board a new member of staff. I used the monthly profit and loss statements to my advantage in bringing on a new receptionist. I was reluctant to do this at first because I always thought about whether we would be spending too much and be overstaffed. However I was able to see that we were consistently under the 17.5% benchmark for salary so I asked the accountant to work in a hypothetical new staff member and we were still just under. This gave me the reassurance and confidence to take on board a new member of staff, which has now proved to be quite productive as I notice more things getting done! So thanks for that as without the understanding of the accounts I wouldn’t have been brave enough to make that decision. A 2019 client

Knowing your numbers (and knowing how you compare with industry benchmarks) gives you the confidence to make decisions.

The above quotation from a client is reproduced anonymously but with consent as an extract from a weekly progress report completed last Friday.

Understanding your practice finances is one of the core components of my coaching programmes with clients, whether they are attending my year-long workshop programme and/or working face to face.

You can also access The Complete Money Course via The Extreme Business Club for a one-time price of just £249.

The Benefits:

  1. Understanding your profit & loss statement;

  2. Identifying how to measure your Key Performance Indicators;

  3. Benchmarks for performance (as in the above quotation);

  4. How to create budget and cash flow forecasts;

  5. Measuring associate productivity and profitability;

  6. Understanding the significance of OCPSPD (operating cost per surgery per day);

  7. Accurate pricing;

  8. Tips and tricks to ethically maximise profit.

The Features:

  1. 2hrs 49 minutes of me on video (in 10 modules), explaining every step of the process;

  2. 30 learning resources, including slides, infographics and Excel templates;

  3. automated verifiable CPD.

The Money Course will be of use to owners and managers who want a better understanding of the numbers – as a training and/or refresher course for anyone who wants to get confident about practice finances.

Everything you need to know – in one place – to watch in your own time – to delegate to managers – to share as many times as you like – for one investment of £249 (£199 for Club members).

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