Call: (619) 379-2560

Email: mick@impactod.com

Blog

If you’re like most OD practice owners, the idea of creating a practice budget ranks up there with getting your first colonoscopy or spending a long weekend with an obnoxious brother-in-law. For most ODs, managing detailed spreadsheets, financial reports and business metrics just isn’t in our DNA. And if you think about it, that makes sense.
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We all want to run a profitable business. Yet most of us simply don’t. But before we go any further, let me explain what I mean by “profit”. In accounting, profit is the result of what’s left over after subtracting our expenses from our sales. If we have $500,000 in sales and $400,000 in expenses, our profit would be $100,000, or a profit “margin” (profit divided by sales) of 20%.
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You may know someone like this. He’s the guy with the fancy new car, kids in private school, living in the nicest house, with a pool, in the nicest neighborhood. The truth is, he’s probably living well beyond his means, up to his eyeballs in credit card (and other) debt, with very little in savings, and only one month away from bankruptcy.
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Between ferocious predators, inclement weather and rival tribes, it’s a wonder that we actually survived as a species. As it turns out, nature has equipped us with a few physiological compounds to increase our likelihood of survival. These chemicals give us that slight edge to increase the chances that we’ll make it to see tomorrow.
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On a recent summer vacation, my family and I had the opportunity to eat at Rosebud, located on the famous Rush street, in the heart of downtown Chicago. Rosebud’s, like many of the bustling restaurants in the area, serves exceptional Italian fare on a quant street corner, perfect for people watching and taking in the sights of the city. What made this dining experience so memorable was not the outdoor European feel, the attentive wait staff, the delicious eggplant or the crisp wine, but rather watching the manager as he graciously drifted through the tightly packed bistro.
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1-Day Training Event

THE PROFITABLE
DOCTOR

What You'll Learn:
How to instantly achieve greater profitability
How to take control of your cash flow
Learn a simplified approach to budgeting
How to destroy your business debt
How to eradicate your expenses
How to understand your financial statements
Learn which Key Indicators (KPIs) really matter
And, More...
LEARN MORE
 Reserve your seat today!!
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