Get paid first – why your salary should be your business’s first monthly expense

It’s the line item most often left out of a health & wellness company’s budget: the owner’s salary. Let’s face it: you can always spend cash on your practice. From office expenses to employee salaries to rent, every month a portion of your revenue is accounted for. But paying yourself first is a must. You need to earn a living – and paying yourself can actually help your business succeed.…  Read more

Do you know your break-even point?

All medical, health & wellness business owners need to be aware of their break-even point — that is, the number of patients or clients they need to sell in order to cover their operating costs. Once you’ve reached your break-even point, it’s time to celebrate: your practice is no longer in the red, and you are officially earning a profit. This article will show you how to calculate your break-even…  Read more

Dealing With Cash Flow Problems

Below are some suggestions for unlocking funds without affecting your operational capacity. Keep in mind that you should always seek professional guidance before making changes to your business if you are unsure of the repercussions or potential issues. Hidden sources of finance Most medical and wellness business owners immediately think of the bank or loans when they’re short of money. But there are many more resources you can tap before…  Read more

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