1. How many days can you operate without income?
2. If hospitals know this metric, why don't you?
Measured in days, the following article identifies how long these hospitals and medical centers can operate without income.
https://www.beckershospitalreview.com/finance/days-cash-on-hand-at-30-health-systems/?origin=RCME&utm_source=RCME&utm_medium=email&utm_content=newsletter&oly_enc_id=4580E3228056G7I
If hospitals measure this metric, why don't you? How long can your business operate without income? Even more, how long can YOU operate without income?
It all goes back to building your "Honey Pot!"
If your business can't fund your honey pot, and you're only paying your bills, then WHAT IS THE POINT of your business?
Seriously, you're stressing yourself out, working harder than employees, and your customers don't care if you go out of business.
Harsh? No, just reality.
If you're not growing your "honey pot," you're losing. You're decreasing.
Notice, I didn't say "growing your business." Just because you add more vehicles or add more caregivers doesn't mean you're growing your honey pot. Being the largest isn't always the most profitable.
Your business should be an asset, something that increases your net worth. If it doesn't, your business is a 'soul sucking' liability and you need to jettison the dead weight!
I know such a suggestion isn't a welcomed thought for those of you busting your butt and salivating over brokers, but tick tock, the clock is ticking, and you're not getting any younger. You're squandering the more important thing - TIME!
See you at the Top!
Joel E. Davis | 
