Whether you are starting a new medical practice or expanding an existing one, understanding the financial piece of the puzzle can be a challenge. It is one of the most important challenges you will face, but the good news is, you can make it easy. The need for start-up and ongoing capital is...
I asked my attorney friend (I know, I’m embarrassed, I have one too) how an attorney makes more money. He replied, “Well, I guess you become a better attorney.” I found this interesting so I started asking my other professional friends the same question. ...
With the year almost over, you need to make sure you have a plan for next year’s business goals. A good place to start is by evaluating this year’s goals. Use them to set a plan in place to help you reach the milestones you set for next year.
The trick to truly being able...
One of the most difficult things to learn about running a business is how to understand financial statements. Balance Sheets, Profit and Loss Statements, and Cash Flow Statements are terms you may have heard, but do you really understand what the statements teach you and how you can manage...
In the book Good to Great by Jim Collins, he talks about the concept of the “flywheel.” In that chapter, he speaks about how great companies start by pushing a heavy flywheel. Companies start by struggling to push this flywheel, or the core idea of their business. Then, as...
To grow your wealth, you must ask the tough questions and do the right things. It’s not hard. It’s simple, and yet, it’s not easy. Everyone can do what it takes to become financially free. You just must commit to doing it.
As you read in my last article,...
Today I want to share a story with you that was told to me back when I was much younger. It’s stuck with me and served me very well and has affected how I think about money. In fact, it’s been so important to me that writing this article has made me write several more about finances....
In order to discuss what wealth means, we need to get clear on what it means to each person. When I give my live seminars on the subject, I ask the audience, “How many in here would like financial freedom?” Almost, without exception, the entire audience raises their hands, and...
There are many people, mentors, books, and courses you can learn from to become financially free. Today, we are going to talk about who you should not listen to, who you need to be careful of, and who to avoid. This is just as important as knowing who to listen to.
I know a lot of theoretical...
The purpose of your business is to support you and your lifestyle. Go back to why you started the business to begin with. What do you want? Was it to serve the community, you, your team, or some combination? What did you want your business to provide for you and...
There are three ways to spend your spare (non-working) time. You can do something that: 1. Improves you somehow 2. Leaves you more or less the same 3. Damages or diminishes you in some way. Look at almost any activity and you will see what I’m talking about. On your commute to work,...
