Avoiding “RBMs” – 4 Simple Rules
Tell me if you have heard this story: Business owner has 4 good months where cash flow is good, bills are getting paid, creditors are not calling, a little bit of money is accumulating in the checking account and everything at the practice seems to be calm. Then it hits. The RBM—the REALLY BAD MONTH. […]
The Fast Food Financial Advice Epidemic
We have all had this experience. We are busy working. We get hungry. We know we shouldn’t, but we just can’t help ourselves. We drive to the nearest fast food joint and get a burger, fries and soft drink. Ah. We are temporarily satisfied. Yet, in the back of our mind, we know we didn’t […]
The Anatomy of Financial Ruin
Anatomy: separating or dividing into parts for detailed examination. Ruin: a. a state of complete destruction b. the state of having lost money, social status, etc. – Merriam-Webster As an advisor, I have spoken with hundreds of practice owners and I have seen them go from complete financial ruin to achieving optimum financial success and […]
Let’s Watch the Grass Grow!
Recently I read this quote from American economist Paul Samuelson: “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” For those of you who have been to Las Vegas, you know what he’s talking about. Being in the casinos is an […]
Preserve Your Reserves
I do like simple things. There is no truer test of a genius then someone who can take something that is seemingly very complex and reduce it down to a simplicity. One of the reasons I admire private practice health care professionals is their ability to take a complex case with a patient, apply their […]