Is Your Practice Healthy & Expanding? Find Out!
Simple Do It Yourself Practice Analysis
Follow the steps below to determine if your practice is expanding or contracting. You will be able to analyze how your practice is doing in terms of income, new business and profitability.
1. Click on each graph and fill in your actual numbers in column B of the spreadsheets below.
The graph will update and display your actual numbers.
2. Look at the graph to determine how healthy or unhealthy your practice is.
- If the line or the overall trend on the graph is going up, that’s good you are expanding.
- If the line or trend more or less stays the same, that’s an unhealthy practice.
- If it’s going down, than you’re actually contracting and this needs immediate attention.
You could also have one up and another down, for example income could be going up each year while the profit is going down.
3. Now let’s look at the current year to date. What’s the total amount of income so far this year? Are you on target to be up or down by the end of the year. Now look at new clients and profit and do the same. What will it take to have these 3 graphs up over last year?
Note: If you don’t feel you have a good plan that can be accomplished readily then take advantage of our no cost Strategy Session with one of our trained consultants.
Now that you have a feel for how your practice is doing, let’s look at marketing. And the first question you should be asking is how much should I be spending on marketing?
Would you like to know how to calculate the amount you could safely spend in some form of effective marketing for your practice? If so, schedule a call.
(To download these graphs, click File on top menu and Download as, then pick your format.)