In private practice we know there are times of the year that are slower than others. We prepare the best we can, but mostly we know business comes to a stand still at times. This year, you'd like it to be different, but how?
Planning. When you understand your positive (or negative) cash flow, then you can prepare.
For example, maybe you never do Google AdWords or GP visits. If you prepare to ramp up those tasks in October and November then you won't be scrambling for new clients in the December/January period. When you aren't putting out fires or working in a reactive manner, your business is more likely to stay steady.
While we're not huge fans of lengthy business plans, our goal when working with our clients is to help them understand their own goals. What revenue do you want to be driving through the business? How much are your expenses? From there, we can create a nest egg for your practice. We still have 6.5 months left of this financial year. It's not too late to take a moment to plan your next movements.
In the meantime, what can you be doing right now to save your budget from the holiday dip?
1. Follow up your active clients. I speak about this so often, you're probably sick of it. But honestly, there is a 99.5% chance you don't need any new clients. If you can actively follow up your clients and ensure that they continue on their therapeutic journey, then you'll find you won't have space for new clients in your diary.
2. Make clients inactive. Again, I speak about this as well. By closing your client's file, you're notifying the GP that you've come to a clinical endpoint with your clients. Either it's because they have decided to end therapy or because you've decided they've completed therapy. By notifying the GP of this, it's a way for your name to be in front of your referral sources again.
Do you know that you don't have to send a physical letter? If you see your GPs in the hallway or if you give them a call, you can document the conversation as notification to the GP and that is acceptable to Medicare. So, what better way to follow up with your clients than to book a one-to-one face to face meeting with your best GP referral source and build rapport? Did someone say GP lunch visit?
3. Ask your clients to book reoccurring appointments. When you do this you're going to be able to understand your diary better. You can ensure that your clients aren't feeling the pressure because "they may not get an appointment" or because your caseload is too full. When they book from now until January, they will ensure they continue on their journey to their best clinical outcomes.
4. Take our practice stress test. If you're unsure where the gaps are in your practice and you don't want to sign up for a coach because of (*insert excuse here), then we offer a free no obligation stress test for you to understand gaps in your practice. The idea is to help you understand where there may be areas of improvement. Maybe you don't have any. Wouldn't that be nice to know too?
5. Meet with us. This might sound like a sales pitch, but in all honesty, even if we don't speak about any of the services we offer, you can bring a question to the table and we'll answer it with you. We love to chat about what we know and we like to stimulate your ideas. You never know what can happen. At best, you get something out of it. At worst, you hear my American accent.
It isn't going to be easy. We can't say we'll sell you a $5k package and you're going to be a multi-millionaire. It just isn't that simple. Hard work, planning and someone to help you go on your journey -- that's what will honestly help you get through the holiday period.