This week, Brian motivates his audience by reminding them of the steps that they can take to internally bring their practice back to where it needs to be for their patients, staff and community. He relays his knowledge of the current state of the PPP and finances as they apply to practice owners based on his research. Tune in to learn details of the PPP fund, your Business Strategic Plan (BSP), and more!
Key Takeaways/Points
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Potential shift in time frame of the PPP
- SBA has issued a Forgiveness Application (submit to your lender!)
- “If you keep doing what you’re doing, you’re gonna keep getting what you’ve got”
- Pull out your 2020 Business Strategic Plan (BSP) and UPDATE it
- If you don’t have one yet, MAKE ONE! You need a roadmap!
- 3 most important actions of business operation moving forward:
- Environment reengineering costs and maintenance
- Only adopt the new services that you believe in
- Your patient scheduling as it pertains to your weekly volume of the new practice operations
- We have to move forward into this new environment like a Startup!
- Work out your cash-flow projections from now to at least October 1st
- Pro forma for income and expenses
- Create a new financial plan!
- Invest your resources to keep your focus on GROWTH!
- Invest in yourself and your team
Resources:
Brian Gallagher, PT is the founder and CEO of MEG Business Management, LLC. He has more than 27 years of experience in the field of rehabilitation and 19 years in business and specializes in Physical Therapy practice management and executive coaching nationwide. As a licensed business management consultant, Brian has helped hundreds of business owners nationwide improve their business operations through proper restructuring to achieve improved systems of efficiency and productivity as well as marketing and sales with effective public relations which have proven results for double-digit growth year-over-year with businesses around the country.
