Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

From Leads to Profits - Allied Health Presentation q4 financial

29 views

Published on

Presentation by Grant Titman from q4 financial. Joint event with Your Easy Web solutions aimed to help allied health businesses to succeed with their marketing and profitability.

Published in: Business
  • Be the first to comment

  • Be the first to like this

From Leads to Profits - Allied Health Presentation q4 financial

  1. 1. Grant Titman q4 financial Specialist Allied Health Advisors Level 18, 344 Queen Street Brisbane p. (07) 3171 4255 e. grant@q4financial.com.au www.q4financial.com.au The 7 Key Characteristics of a Successful Allied Health Business
  2. 2. Formal, documented growth plans Strong knowledge of client base & CRM System Specialist services and treatment plans Contractor and team development programs Know their numbers Finance plans to fund growth and succession A saleable asset 7 Key Characteristics 1. 2. 3. 4. 5. 6. 7.
  3. 3. Why are you in Business? What are your goals and when will you achieve them by? Your Goals
  4. 4. Growth plan Is your marketing and advertising plan aligned with your growth objectives? Who are your ideal clients? Do you have a strategy to attract Them?
  5. 5. CRM System Do you have a system where client interaction is accurately and reliably recorded?
  6. 6. Specialist Services & Treatment Plans Does your practice offer a specialty service and/or treatment plan? Are they documented? Do you teach your team how to deliver to this expectation? Do you give adequate feedback and create accountability?
  7. 7. What areas do you want to encourage growth in? How do you provide recognition of achievements? Feedback to grow
  8. 8. Know your numbers How do you know if your business is running really well? How often should you monitor? What things are you measuring? What could you be measuring? Benchmark to industry or your budget Does your management accounting system produce accurate information on what it costs and your profit margins for each client service?
  9. 9. Real Life Case Study – Client & Financial Reporting
  10. 10. Finance plans to fund growth • Do you have sufficient capital to grow? • Do you know how much you can borrow? • Do you prepare an annual budget? • Do you separate fixed and variable costs? • Have you determined your breakeven point? Is your bank providing you with cash flow, not asset backed, finance?
  11. 11. One page plan • 72% of all small businesses do not have a formal business plan • Lack of planning is a key factor in any business failure • One page plan provides confidence and accountability
  12. 12. Do you have a Saleable Asset? Are YOU the Goodwill in your practice?
  13. 13. Valuing your Business • Assessment of key risk and value drivers • Significant impact on the cap rate or profit multiple • Grow your business value even if profit and cash flow remains constant • Valuation benchmarks to identify areas to improve
  14. 14. Documented systems and processes – Why are they so important? • How much of your knowledge is documented? • How much intellectual property would you lose if key staff left? • Create Raving Fans via an automated approach • Consistent delivery of treatment from all practitioners in the business Do your patients receive the same level of service every time they visit?
  15. 15. Refinement • What areas are you refining in your business or treatments now? • What should you be refining?
  16. 16. Take outs from today 1. Know your Why, Write it down and create time to refer to it regularly 2. Make 3 priorities and take action today. Don’t fall victim to FTI 3. Develop your one page plan 4. Develop your business value improvement plan 5. Q4 can help map the way for you
  17. 17. Grant Titman q4 financial Specialist Allied Health Advisors Level 18, 344 Queen Street Brisbane p. (07) 3171 4255 e. grant@q4financial.com.au www.q4financial.com.au Final Questions

×