These strategies will help you make good investments that grow your business, and avoid bad investments that don’t. Jay is absolutely confident that if you implement all of these investment strategies over the course of a year, you are guaranteed to grow your business, increase production and collection, build a more engaged and productive team, and ultimately become a happier, healthier you!
#4 – INVEST IN STAFF TRAINING
It’s highly likely that your single largest expense is your staff, making it your largest existing resource. To maximize that resource, YOU must take the initiative to TRAIN your staff; to set expectations by creating a culture of performance and continuous improvement.
If you’re already training your staff and think your culture is pretty good, invest even more in their training! For instance, plan S.I. Phone Training every year, or even every six months, or quarterly. You should augment your regular Phone Trainings with additional On-Site Trainings and regular trips to The “U” to make sure your team is always finely-tuned to operate at maximum efficiency for you. We see a big bump in business results every time our members take this investment as seriously as they should. Our expert trainers really bring the content, tips, and strategies to life for your staff, so it benefits YOU.
The most successful Practices hold a training day once a month, establishing a culture of “We learn, we grow, we change.” They also often rely on outside resources who are far more skilled at training than the doctors themselves. By ensuring the training gets done right, they know they’re really maximizing their investment.
Always view staff training as a critically important investment – not an expense – because you will earn big dividends!
#5 — INVEST IN FITNESS
Your health, your energy level, and your longevity play a huge role in the success of your business and your relationships. No one can argue with the “fact” that when a person feels better about themselves, they have more confidence; which improves attitudes and behaviors; which translates into greater personal satisfaction; and better business results.
Invest in your personal health first, and foremost, by getting a complete physical. Find out your body mass index (BMI/percentage of body fat), and what tests you should have done at your age. Find out if you have any health problems you may not even be aware of. And those you are aware of — e.g., you’re out of shape and you know it — start doing something about it!
A personal trainer is a great way to go since they provide the discipline and accountability so many of us lack. Work together to figure out a routine that works for you. You’ll be ensuring the investment you make in time and effort will provide the biggest payback to your personal health and well-being. And don’t forget the HEALTHY NUTRITION portion of the equation.
Investing in your health is not optional and needs to become something you “just do” as part of your weekly routine. Your business can’t thrive if you’re not at your best!
#6 — INVEST IN CASH
These 14 Best Investments will help you increase your earnings… so you can, in turn, increase your savings. It’s essential, though, to automate the process; it has to become second nature so you don’t even think about it. If you don’t already have some sort of a pension or tax advantaged account, set up an online account… and do it YESTERDAY! Consider this as making payments on your future.
Connect this savings vehicle to your business account, assuming that’s the account that will always have money in it. Then schedule to have money AUTOMATICALLY transferred every single month into your savings account. Shred the checkbook and debit card you get for having opened the account — since they will just undo the progress you’re making. Even if you don’t have the money right now to start saving, you WILL just as soon as you start implementing the 14 Best Investments. They will help you generate the increased earnings that will allow you to increase savings.