Profit Makers & Takers - Part 1

Profitability is a topic that gets remarkably little consideration in the professional preparation of most therapists and trainers. It continues to get little more than passing attention in many practices and studios. Unfortunately, profitability also receives little consideration in our professional literature, conferences, and dialog. Why is that?


In a startling number of privately owned service oriented practices profit is viewed as little more than something left over at the end of the year, like restaurant leftovers to be taken home in a doggie bag. An appreciated treat to be sure, but certainly not the well planned, managed, and earned return on investment and capital for growth that it is in other business sectors. Why is that?


Why aren’t more private practices and studios run more like the businesses that they are? Why is a small profit or even break-even so often considered “good enough? Do such attitudes and financial performance compromise the influence professional service businesses have in their communities and society at large? Do they compromise growth, advocacy, influence, and reward? Of course they do!


Why do so many professional business owners casually give up their birthrights and future?


Why are the very professionals who earn their living providing consultative advice/services to their patients, clients, and customers so prone not to seek the help they need pertaining to business matters? Curious...


Now I’m not saying that quality services don’t come first. I deeply believe that is true. However quality service cannot be sustained or grown in the absence of reasonable profit. Without profit quality service erodes, as does professional staff and customer loyalty. Profit is important!


But, profit takes planning. Now is the time to be planning your profit for 2010. Don’t have time? Then make it – it’s that important. Don’t know how? Ask for help – you can’t afford not to.


Let’s rewind and rethink profitability from the beginning… More next post...


All The Best!


Bob


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Performance Builders