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: […]
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 […]
I Have a Secret to Tell You
I have a secret to tell you about making more money. First, I want to tell you why we are having this discussion. I did a Google search on ways to make more money and was surprised to find that most of the answers had nothing to do with production or work. The suggestions ranged […]