Having a Cash Cushion

Recession-proof tip number nine, keeping a cash cushion in the bank. Join Gilly as she explains why in the current economic climate, it's essential to cover your business expenses with cash in the bank. Learn how to overcome turbulent times, invest in your practice and increase profitability. Clinic not working perfectly? Book a free chat with Gilly to find out how to fix it! bit.ly/osteobizchat KEY TAKEAWAYS The rate of inflation is high and the cash we have in the bank is consistently being devalued. So it buys us less and less and clinic owners are feeling the pinch. Having three months' worth of expenses in cash set aside will protect you if anything happens to derail your business. Having cash available will help you overcome turbulent times and ride out any months when you see patient numbers dip. Keep a cash cushion behind you to cover expenses and invest a small portion towards improving your business, growing it, increasing patient numbers, making it more efficient and increasing profitability. BEST MOMENTS “It’s really important to have some cash available in case you need it.”“A little cash cushion gives you a lot of relief and keeps debt off of your credit cards.”“We’re all in business to make a reasonable profit so we can look after our families.”“If there is a further downturn in the economy it's gonna bite.” VALUABLE RESOURCESThe Osteobiz mastermindwww.osteobiz.as.me/consultationwww.osteobiz.com CONTACT METHODhttps://www.instagram.com/gillywoodhouse/[email protected]://business.facebook.com/Osteobiz/ABOUT THE HOSTSince 2013, Gilly Woodhouse has been inspiring and developing Osteopaths, other healthcare professionals and their clinics. With a wealth of entrepreneurial skills gained over a lifetime of creating businesses from scratch both in the UK and abroad, Gilly shares these experiences as well as illustrating how her clients have vastly improved their practices by streamlining operations and improving their marketing skills. The Osteobiz team of six now comprises Osteopath clinic owners or members of an Osteo family and together support over 100 worldwide clinic owners.Topics covered are marketing, operations, team management, legacy and exit strategy, operating procedures, gold standard patient care, tech support, boundaries and so much more.This show was brought to you by Progressive Media