Are Your Financials Failing You? Here's How to Fix Them.
In episode #312, Hannah, Jack and Ben dive into why the way you structure your financial statements matters more than you think. Join us to discover how organising your numbers functionally can unlock powerful insights for clinic owners. We'll unpack the real meaning behind accounts receivable and why knowing your 30-, 60-, and 90-day breakdowns could change how you run your clinic. Hannah gets real about her fear of numbers and how she moved past it - proving that you don’t need to be a math whiz to master your money. Meanwhile, Jack lays out a practical approach to building a profit and loss statement that actually makes sense for clinic owners.
Whether you're numbers-phobic or just ready to level up your clinic’s financial game, this episode is packed with takeaways you won’t want to miss.
What You'll Learn:
📊 Why you should group your expenses functionally, not alphabetically
🧾 The importance of understanding accounts receivable and overdue payments
💡 How to structure your profit and loss for better decision-making
🏂 Insights from Hannah on overcoming financial fears and embracing the numbers
📈 Tips for using your P&L to identify growth opportunities and efficiencies
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Timestamps
[00:01:50] Episode Start
[00:06:00] Functional grouping of expenses.
[00:09:16] Profit and loss tracking categories.
[00:11:25] Admin wage separation strategies.
[00:15:14] Clinic management and efficiency.
[00:20:02] Efficiency in clinic operations.
[00:23:51] Cost-benefit analysis in clinics.
[00:27:53] Financial management complexity growth.
[00:30:35] Accounts receivable management tips.
[00:34:01] Time allocation for business growth.
[00:39:35] Embracing financial incompetence.
[00:41:19] Specificity in financial reporting.
[00:45:23] Team expenses allocation strategies.
[00:52:23] Budgeting for new services.
[00:53:06] Confidence in forecasting revenue.
[00:57:23] Definitions of clinic growth.
[01:00:33] Embrace transparency in finances.
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