How to value a healthcare business

At some point in the future you may want [...]

By | 2018-04-22T17:56:06+00:00 April 22nd, 2018|Accounting, Advertising, Business for Sale, Business goals, Business Mindset, Business Plan, Healthcare Business, marketing, Professionalism, Selling your business, Tax|Comments Off on How to value a healthcare business

5 Tips for getting a mortgage or business loan Getting a business off the ground can hard [...]

By | 2018-02-26T18:00:07+00:00 February 26th, 2018|Accounting, Automation, Business Coach, Business goals, Client experience, Fees, Healthcare Business, Investment, Local business, Mentor, planning, systems, Tax, Team|Comments Off on 5 Tips for getting a mortgage or business loan

Planning for a lean period

Let's be realistic, no matter what stage your business is at it's not always going to be plain sailing. Following on from my last video on how to hire people for your clinic I'd like to discuss the issue of having a lean period in your clinic and how to plan for it. A lean period in a healthcare business generally happens around holiday time or staff departures. If you plan for it and you know it's coming then you don't have to stress about it. I heard a great phrase the other day "control the controllables", in other words plan for what you can control and adapt to the rest. I'd also recommend trying to build some sort of a contingency fund for difficult times or expansion within your business. Here are 5 tips to help plan for lean periods regardless of what stage your business is at.

5 Steps to plan your exit strategy

So if you're like me and over the age of 30 you may be thinking about what you're going to do when you retire? If you're a health professional you can't do hands on work forever. So you've got to start putting strategies in place before you reach the age of 40 and burn out. I recently met a physio who was in their early 50 and completely burnt out. They had a thriving practice but no exit strategy. So as much as it's very important to build a business and market it, you need to have something to show for all your hard work at the end of your career. See my original story (click here) and my exit strategy before starting my new clinic CompassPhysio. So lets try to get your house in order before it's too late, here are some simple steps

Minimise your tax bill for small healthcare businesses

This week I've decided to ask an expert - Enda Lewis is a chartered accountant from Enda Lewis & Company . Enda has kindly compiled a list of eight fantastic tip to minimise your tax bill. Although some of these points are related to the Irish tax system most of them are transferable to all country. If you are unsure please seek advice from your account.