Here we are again. Summer has passed, the leaves are showing their brilliant autumn glow and we head into the fourth quarter. Up in my neck of the woods, we haven’t quite hit our wet and dark season. Is it me or did the year just fly by? How was the past year for you? Was it your best year ever? If you look back, where is your business today compared to where you wanted to be on January 1st?
Are you profitable? Did you make money? How much?
Has the productivity of your treatment rooms increased?
Is that new fancy piece of equipment that you bought last year generating the revenue that you anticipated?
Did you have more guests this year compared to last year?
How much did your revenue increase?
This time of the year is one for business reflection. It’s time to answer that little kid in the back seat. Are we there yet? Now is when you not only reflect, but look forward. Next year will be here two months from now.
We can create our reality for the new year if we know what we want it to be. Planning begins
with thoughts, which grow to ideas which become plans, then actions. You can influence and shape your future. Looking forward, where do you want to be at the end of next year?
Let’s get specific. Assess where you are, define what you want, envision the vision and create a roadmap from now until then. What do you want?
Service revenues increase by 20%.
Treatment room productivity will be at least 37%.
My POS or EHR system is configured correctly and I use the tools and information it gives me.
Gross margin on sales will be no less than 30%
Labor cost will be 40% or less.
25% more guests will come through my doors.
Net profit will be 12½%
I will fund and acquire specific equipment that will generate additional revenue of $15,000.
New website completed by the end of Quarter 1.
Guest re-booking has increased 15% and Membership program increases to 200 guests by Quarter 2.
Integrated health and wellness lifestyle programs in place and marketed by April 30th.
Don’t be afraid to be specific. This is what a business bucket list looks like. If you don’t take
time to plan, you spin your wheels. You don’t grow and nothing changes.
How are your energies going to be spent in the new year? Where do you want your business to be at this time next year? We can help you define and roadmap the actionable steps needed to get you where you want to be. It’s time to plan and to create your budget for the next year.
What’s on your bucket list?