CREATE A SIMPLE BUDGET. Create a simple budget by organizing it into one income source and four basic buckets of expenses: cost of goods, people, places and things.
KNOW WHERE YOU’VE BEEN TO SEE WHERE YOU’RE GOING. Compute your spending and earnings for the past year, then compare that to your metrics for the past 1-3 months. If needed, make adjustments to meet your growth targets.
INCREASE PRACTICE VALUE. Potential buyers will be leery of a practice with no financial controls in place, that can’t tell prospective buyers exactly how much money was spent and earned over the previous year.
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