Strengthening Financial Fitness

Galvanise your mindset, gather your advisors and grow your knowledge for results 

Back in the day over 25 years ago when I started my private practice I was terrified of the money side of things. Like many Allied Health Business Owners, I believed that I didn’t have a head for numbers and that I would never get the hang of it, let alone enjoy it. This changed, it had to as my responsibilities to meet payroll, ATO, personal expectations and family expenses steadily increased. Galvanising my money mindset, gathering great people in my corner, growing my knowledge one question at a time and realising that the buck literally stopped with me was a penny drop moment. Let’s unpack elements of this learning adventure and also accelerate your financial fitness with a free Financial Glossary.  

Galvanising Money Mindset 

Money mindset is a thing – we all have one and personal awareness of where it’s at and what changes it really helps. With the smorgasbord of books, white papers, podcasts et al information about money mindset and habits it’s easy to get started. Scott Pape’s books would be my suggestion for launching yourself off the starting blocks.  

Gathering Great People 

For me, I have needed to learn in situ, with patient teachers and real life examples. It wasn’t long before my finance team realised their lives would be easier if they drew diagrams for me, my end of year gift of bright new white board markers made them laugh. My life long love of asking questions until I deeply understand (yet don’t quite – send people crazy) served me well and with smart bookkeepers and accountants, this accelerated my learning. On that note, I moved on, dare I say grew out of, quite a few bookkeepers and accountants to land the current Rockstar crew.  

Role clarity is interesting to think about here, what does an accountant do, what does a bookkeeper do, how will they work together WITH you in a dynamic, respectful and proactive way. Some of you may also have a financial planner as part of your financial crew, I hope so, and how will they fit in around the table? I cannot emphasise enough how critical it is to have an A team tracking with you on the adventure of business. There is a lot at stake right, there is no room of time for financial folk who bring a B class game, at least in my book. During your monthly meetings with your bookkeepers, what’s the format here? How do you check and correct your numbers, discuss the trends and issues and then take this data away for Director level decisions. What do you discuss during your quarterly meeting with your accountant? Do they issue the agenda prior, all the relevant financial reports and do they show up super organised and prepared with next steps in mind? 

How would you rate your financial team in terms of their strategic thinking, subject matter expertise, entrepreneurial mindset, collaboration, patience and ability to partner with you wholeheartedly. The last one really matters to me.  

Growing My Knowledge  

In regards to ‘the financials’ we so often hear from new members and others on Power Call that “I don’t know what I don’t know”. That was me, trusting that what we were doing was best practice when in fact there was a whole new world of financial fitness and best practice out there. The other part of the not knowing was not having the lingo, words rolling the tip of my tongue and being fluent in the concepts. Honestly this took me years, and you will be very relieved to know that I am now pretty sharp on this and continuing to learn. Don’t let financial jargon and your worry of having to ask what it all means, again, hold you back from achieving your Allied Health Business goals.

Here is our free Financial Glossary to accelerate your learning and financial fitness.  

The Financial Glossary is our gift to you to help you out as you create your financial dream team and adventure forward in business together.  

Feeling that it’s time to strengthen your financial fitness? We know how to help you with this, and the first step is to book yourself a free Power Call with us.