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Top 10 Items to Review & Build Your Business Now!
In building and runnng an independent private practice or small business, there are many items that need to be monitored closely and should be reviewed periodically. Year-end is a traditional time do this, and this week's Letter is a "Top Ten" of items to review as the year draws to a close, or whenever you decide to pause, reflect, take stock and re-assess.
1. Review your client statistics: How many clients did you have? On average, how long did they stay? How did they describe their problem? What did they need or want from you? Does tracking by gender, age, or other criteria, provide insight about your business?
2. Review your referral sources: How do clients find you? Do you have a solid mix of referral sources? Too few sources makes your business dependent on them, while too many sources is inefficient. Who refers the most desirable clients? Who refers the least desirable?
3. Review your outcome statistics: How many clients had successful outcomes? How many had unsuccessful outcomes, and why? How many left before you thought they should, and why? Which clients are you most effective with? Which do you enjoy the most?
4. Review your income, month by month: Look for patterns or relationships with marketing efforts or community events that may impact your business. Does your business go up when school starts or after holidays? Can you capitalize on any of these cyclical patterns?
5. Review environmental changes: Has the community's awareness of your skills or services been impacted by someone else's marketing, by news stories or controversy this year? Has your neighborhood changed? Have circumstances made your office more or less visible? Are other professionals moving into, or out of, your neighborhood?
6. Review office policies and procedures: Do any of your forms, brochures, or signs need to be up-dated? Is it time to add color and graphics? Can office procedures be streamlined, computerized or contracted out for better productivity?
7. Review your insurance coverage, lease agreements, partnerships and other documents that impact your business. Is this the year to incorporate? Consult a professional about making appropriate changes, and meet with your accountant for a year-end review and tax planning.
8. Review every aspect of your professional status: Review your CE requirements, renew your license(s), pay dues to your professional organizations, and be sure your liability insurance coverage is adequate and current.
9. Identify and study the 3 biggest mistakes you made relative to finances, business and marketing this year. What did you do, or not do? What did you learn? What steps can you take so that particular mistake or set of circumstances never holds you back again?
10. Be sure to acknowledge and thank everyone who has contributed to your success this year, including referral sources, advisors, colleagues, and especially your clients. Send holiday greetings, thank you notes, and where it's appropriate, send a gift or token of appreciation.
Have a great week! The holidays can be a time of stress ? please accept our best wishes that this year it be a time for peace, joy, and goodwill toward all!
© Copyright 2003 by Philip E. Humbert. All Rights Reserved. This article may be copied and used in your own newsletter or on your website as long as you include the following information: "Written by Dr. Philip E. Humbert, writer, speaker and success coach. Dr. Humbert has over 300 free articles, tools and resources for your success, including a great newsletter! It's all on his website at: http://www.philiphumbert.com
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We all are project managers. Some of us manage projects like vacations or reunions, while others run implementations of new software systems, consolidation divisions of companies, launch new products, or build buildings. While the scale changes for different kinds of projects, and complexity changes as more people are affected and involved; at the core there are questions you can answer to help get any project off to a better start.
Seven Ways to Improve Your Results with Follow-up
What follows is a bold statement, but sometimes it takes a bold statement to get people's attention.
7 Reasons You Want Referral Business and How to Get Them
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The Seven Secrets of Top Performers
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The following tips are from an article we contributed to Compute magazine. These are ideas that we all should know, but many times forget. It constantly amazes us how quickly a basic tenent of business can be shoved by the wayside in the heat of daily transactions.
The Top Ten Reasons to Hire a Coach
1. You have a big goal and you want someone to support you. A coach has no other agenda except to help you succeed. He/she can help you to brainstorm ideas, act as a sounding board, help you overcome your fears, and hold you accountable for moving forward on your plans.
7 Reasons You ARE Your Own Best Product, or Lessons From the 2004 Presidential Election
The 2004 election is over--at least in the minds of the public--and analysis runs rampant as to why Senator John Kerry lost. From a business viewpoint, one could say that he simply didn't sell the product. Or more accurately, he didn't sell the American voters on himself, and by extension the Democratic Party, as the product. We all remember phrases such as "This is the wrong war in the wrong place at the wrong time" and "I voted for the invasion of Iraq before I voted against it."
Management, Balance & Time - 10 Tips for Managing Overwhelm in your Business
How many of us have been in a position where we have more to do than can realistically fit into one day, or week. So we spend all of our time feeling rushed, being rushed, and wondering how on earth we are going to manage. If you are having that feeling of overwhelm in your business, it's time to take stock of what's going on.
Ten Tips for Effective Meetings
Here are ten things that you can do to hold more effective meetings.
Bookkeeping Techniques For Morons
Please don't think I am calling you a "moron" to hurt your feelings in any way. I was a moron when I first started setting up my files. You have to force yourself to do it NOW -- right at the beginning! Many of a business has collapsed simply because they lacked organization in their basic accounting business practices. Don't be one of them!
Wealth Building Scams
I have some good news and I have some bad news. First the good news. The number of infomercials on television is decreasing.
The 10 Biggest Mistakes People Make Managing Organisational Performance
mistake #1: rely just on financial statements
11 Things Small Business Owners Can Learn From Michael Dell
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The Hidden Power Of Understanding: A Secret To Building Massive Momentum In Your Business
You're busy with your business today, aren't you?
The Top 10 Reasons Businesses Succeed
Only one of every 5 businesses makes it to its 5th year, and fewer still make it to 10 years. What do the successful businesses have in common?
10 Nifty Tips for Better Business Cards
Not having a business card is as bad as using an eMail address that ends in AOL.com It's just not professional.
I WANT IT NOW - 10 Tips for Freight & Drayage at Trade Shows
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Increase Business Profits - Ten Ways
How do you increase business profits? Answer the following questions carefully, and you'll have a good start.
Business Profitability - 10 Ways To Boost
10 Ways to Boost your Profitability
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