So you’re halfway through another year and wondering where has the time gone. Are you older and wiser or just older? Six months into your business year you should review where you’re at and look at ways to achieve your goals for the year. At our Physiotherapy clinics with Compass Physio we do this every quarter. So here are my 5 Tips for your half year review
1. Numbers Review: Your goals at the start of the year may be…
- 150 clients per month at €50 per session with gross income of €7500
- Expenses of €3500
- Take home €4000
- Work 8 hours/day x 4/week
- Get income protection
How many times have you achieved this in the last six months? If you haven’t, then you may need to review your systems and procedures. If you can measure it then you can manage it. So start measuring your KPIs (Key Performance Indicators)
2. Accountant: Talk to your accountant regarding your finances and where you’re at. This can save you €1000s, as they should be able to help you with effective tax planning.
3. Systems Check: Review
- Contracts lease, employment etc
- Direct debits payments
- Policy and Procedures manual
- Employee training
- Tax liability
It’s always better to review than to get a big shock when any of the above go wrong. Prevention is better than cure!
4. Health Review: I always tell our staff that family and health come before any of our business arrangements at Compass Physio and PracticeNav. So you may be stressed, overworked, run down… get a check up with your GP and start doing some exercise. If your not fit and well, then you can’t run a business efficiently.
5. Time off/Rest: Book a holiday or time off. Burn out is big issue in this game and I’ve seen businesses crack with stress and pressure when the leader is overworked. Having time off gives you a different perspective. You see the world differently through tired eyes (Mammy, 2001)*
So hopefully you have a better understanding of your half year reviews and get the most out of the remaining year ahead.
*Mammy et 2001 Tiredness is a terrible thing, a review of cranky children, Lancet