Top Questions I’m getting in 2024
We’re halfway through the year and in reviewing my Q2 and 2H notes, I noticed I answered the following questions 430% more than any other questions.
Our sales are better than ever, why is there still no money in the bank?
Here, we encounter the paradox of success. Increased sales do not necessarily equate to financial stability, and understanding the gap is crucial to maintaining the integrity of your business.
Our revenue is way up, what’s the best way to allocate the additional money coming in?
With increased revenue comes the responsibility of strategic allocation. How you manage this influx will determine not just your immediate success but your long-term sustainability.
I want to give my team a raise or bonus, but I’m not trying to take food out of my kids’ mouths. What can I afford to pay them?
This question strikes at the heart of the tension between generosity and responsibility. Balancing the well-being of your team with the security of your family is not just a financial decision—it’s a moral one.
We need to invest in hiring more clinicians, getting better technology, and doing marketing, but there’s never enough money to reinvest - how do we fix this?
The need to reinvest is a perpetual challenge. It’s about identifying the cracks in the foundation of your business and finding the courage to mend them, even when resources are scarce.
How do we start paying down debt so we can pull money out of the business as owner distribution?
Debt is a burden that weighs heavily on both the business and its owner. The path to freedom begins with a disciplined approach to debt reduction, which in turn opens the door to rightful rewards.
Do you have any of these questions running through your mind as a business owner?
