Summer’s here and for many of us it is a time to recharge and regroup – and we hope you are able to do so, you deserve it! But it is also a time to review how the business is doing thus far this year: clinically, culturally, operationally, and financially.
Why are mid-year check-ins important?
Mid-year check-ins are important because it helps you assess goals and where you are in meeting them for the year. If you are not meeting a certain goal, now is a good time to analyze why, pivot and make necessary changes to increase the likelihood of attaining it. Although managing the day-to-day business needs may make it seem challenging to take the time to do a check-in, it is better to do it now than at the end of the year when it is too late to make a difference in 2022’s outcomes. Besides, this is a good time to start planning for the holidays in terms of scheduling and optimizing treatment hours. We all know that November and December tend to be low given the various holidays celebrated and vacation time taken.
Organizational Assessment
Kim brought Org Assessments from her years in executive coaching where multi-national and Fortune 500 companies utilized these regularly as a means of gaining insight from their employees on how they felt about the company and what could be done to make it a better place not only for the employees but for their clients. In our experience, most companies don’t know what their employees would say if they knew their feedback was anonymous but when they see the results, there is undoubtedly an “Ah Ha” moment and an eagerness to prioritize and execute changes that benefit all.
Assess Your Cash Flow
Many have struggled financially over the last few years due to Covid and some pre-Covid. Staff turnover is high, and recruiting continues to be a challenge for ABA practices. Assessing your new hire pipeline along with optimizing client hours in a strategic way may help offset some of the ebbs and flows in revenue. Your cash flow, and importantly, stable cash flow is the best indicator of your company’s fiscal health. We all want confidence that we can pay payroll and other expenses on time, without worry. If you have concerns, reach out to us as we have assisted many companies in the red to get in the black.
Strategic Planning
For many a strategic plan is a new concept. Strategic planning is a process in which an organization’s leaders define their vision for the future and identify their organization’s goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision. Having a strategic plan in place helps you track progress of your goals. It is an opportunity to ensure that each department and team has a sense of direction, understands the company’s goals and how their work ensures these goals are met. If you don’t have a strategic plan, we can help! If you have one but need assistance updating it or a second pair of eyes to review it, we can help too!
Reach out today and schedule a complimentary consultation and see how we can be of service. Your success is our success!
