How to Salvage Your Business When You Are in a Cash Flow Crunch
While it is an unfortunate reality, at some point in practice ownership you will experience times where your business cash flow is insufficient. This not only feels like a contraction of your business but can also cause you to feel anxious, fearful, and sink you straight into a mindset of scarcity. I have seen this […]
10 Reasons Why Practice Owners Are in a Financial Crisis
Most practice owners are in a financial crisis. Crisis is a strong word. It is defined as a “time of intense difficulty, trouble, or danger.” Examples of this would be a drug crisis, a drought crisis, a food crisis, or some kind of health crisis. It is a word that elicits fear, uneasiness, and anxiety. […]
The Financial “Opportunity Trap”
One’s journey to become financially independent is never a straight line upward. There are hills and valleys, successes and failures, and obstacles that seem like they can never be conquered. However, there is one thing I see happen that can put a business owner or entrepreneur on the fast track to financial ruin more than […]
The Practice Owner’s Financial Sweet Spot
If you listen to a professional athlete, they talk about their “sweet spot” when it comes to a particular sport. For them, it’s a certain point on their racket, bat, or club which makes the most effective contact with the ball and delivers the best results. For example, look at Tiger Woods in his prime […]
Celebrate Your Financial Victories
When I was growing up, the Chicago Bulls and New York Yankees were the kings of sports. While I admired how hard they worked to get to the top, one of the most overlooked actions they took every time they won a big series or a championship was just how much they celebrated. They celebrated […]
10 Important Actions to Help You Navigate the Path to Financial Freedom
By and large, people are unhappy when they are confused and disorderly in any area of life. Find a person who appears to be “happy” yet they are surrounded by chaos, and I will show you someone who is actually insane. The area of money is no exception. People are unhappy about their financial situation […]
How to Be an “ACE” With Money
If you ever wanted to study the subject of money, then one needs to go no further than Las Vegas. The people who run this town know EXACTLY the basic principles one needs to know to win the game—literally and figuratively. In 2017 it is reported that casinos in Vegas brought in a staggering $26.2 […]
The Cost of Making a Financial Decision During Burnout
I am about to tell you a story of just how costly it can be to make a financial decision when you are emotionally “burned out,” exasperated, and fed up. SO PAY ATTENTION. Let me tell you about Dr. D. I would put her in the top percentile of practice owners I’ve consulted. Here’s why: […]
If the analytics are boring, then you’ve got the wrong numbers
I was never much of numbers person, which may sound like a contradiction coming from a Financial Planner. I happen to have the viewpoint that the attainment of REAL financial freedom is achieved primarily by your consistent good habits, attitudes, and actions while having the persistence to plow through the barriers which challenge you along […]