Simple Year End Business Review

This time of year brings one last push for most businesses….

It’s time to think about the past year…and take time for your annual business review…to get a head start for the new year

I want to share with you a simple end-of-year business review, all you need to do is answer three questions

Question #1 – What went well?

Thinking about the last year, what were the positive in your business?  What events would you want to replicate in the upcoming year?  Look at overall patient visits and new patients.  Look at overall charges and revenue.  What exceeded your overall expectations?

Questions #2 – What needs improvement?

If you took a hit somewhere in the business, or you took a loss in profits, look for the obvious areas you need to change.  The best aspect of this is those days are behind and you have gained valuable lessons as to what happened.  Ask these questions…what could you do better?  What did your customers have to say (especially the negatives)?  Did your income/expenses match your budget?

Question #3 – What’s next?

Looking at your answers from the 2 questions above, what went well and what needs improvement?  This is not the place to come up with solutions to issues but to identify areas that need improvements.  Keep the process simple at this point!

If you did not set targets or goals for this year, the review of the past year will put you back on track.  On the other hand, if you did establish goals, the simple business review provides a starting point for areas of review.  Now you can compare your list to your goals for 2017 and then develop goals for next year.

Using three simple questions you can look back at the highs and lows of the last year and set the stage for improvements over the upcoming year!

Do you struggle knowing your true business numbers?  If so, click here to schedule a FREE Consultation Call!

Andrew Vertson, PT, DPT, ATC
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