Monday Morning Motivation | Know Your Numbers
One of my guilty pleasures when I have the time to waste watching television is to watch Shark Tank. Here, entrepreneurs and entrepreneur wannabes make their pitch to millionaires with the intent in getting them to invest in their business.
It doesn't always go well. I learn a lot by watching and listening. I find it entertaining as well as educational.
Those who leave without a deal either have an untenable idea or don't know the important numbers about their enterprise. Such as their sales for the last year, their cost of customer acquisition, the lifetime value of a customer or the profit generated by each sale.
Do know your numbers? Do you know how much it costs you to deliver an adjustment based on your current patient volume? Your patient visit average? Case average? Length of a typical visit?
If you don't measure it, you can't (won't) improve it.