As owners, physicians and/or managers of cosmetic practices and medical spas you have a very demanding job. First you need to insure the safety and care of all patients, second you must lead the team with a service culture while maintaining a sales focus, and third you have to be a great marketeer consistently implementing a marketing program that drives leads into your business.
In addition to these three responsibilities it is imperative that you manage your business by the numbers. At any given time, you need to know the answers to the following 10 questions (without having to request a report from your accountant):
- What are your month-to-date sales?
- What were your sales for the same month last year?
- What were your sales last month?
- How much are you currently spending on your marketing program?
- What is your current break-even?
- What is your sales goal for this month?
- What is your current pace for this month?
- Are you currently on pace to hit this month’s goal?
- Are your expenses in-line with your budget?
- What are your current closing ratios?
I realize it is not easy, but if you are going to create sustainable growth for your business you need to focus on these top 10 data points to measure your success and insure that your business is holding the course you have planned.