One of the hardest things about running a private practice is learning how to manage cash flow. Because you know, some days the cash flows, and some days it doesn’t. :)
Unlike the days when you worked for someone else, most likely no one’s going to be giving you a regular paycheck.
And there won’t be any more of those annual bonuses either.
Or will there?
In today’s video, I’ll show you how making one small tweak to a common formula can make it possible for you to sock enough cash away that you actually CAN pay yourself a bonus no matter how much, or how little, you’re bringing in.
And you can do it guilt free.
In fact, if you follow the model that I’m laying out for you today, I think you’ll be surprisingly proud of yourself in a matter of weeks, because you’ll actually have money to play with, and it will feel great.
Check out this week’s video to learn how.
Sounds easy, doesn’t it?
Well in some ways it is.
And in some ways it isn’t.
For example, if you’re just getting started, and there just isn’t a lot of cash to flow, you may think you can’t do this at all.
And if you’ve been at it a while, and revenues are good but expenses are high, you may think you can’t do this either.
But neither of those has to be true.
In fact, I find that when you set up money systems like this, no matter where you are on your business journey, they pay off in ways that will often surprise you.
So try it. And let me know what you learn.
I have a feeling you’ll enjoy it. :)
P.S. Got your own favorite hacks for handling cash flow? Grab some lunch and share them with us each Thursday at The Money Talk Hangout, where we talk about things like this and lots more. Visit the Ideal Practice Community.