This question is a catalyst for major shifts!
Many Social Care business owners approach me for help with fees, expenses and overall profitability.
After we have mapped our their fees I ask a very simple questions which stimulates a completely different approach to their business.
The question is this…
“What would an investor do”
You see an investor takes out the emotion, they think with their head, they make BUSINESS decisions.
A Social Care business is still a BUSINESS. The ‘problem’ is the fact that we CARE about our clients, it’s the nature of the sector.
This leads us to poor choices. 80% of my Business Coaching customers have clients that cost than they receive in fees…..
I am not suggesting that you evict all low paying clients. Some have been with you a LONG time and seem part of the family.
I AM suggesting that you make a conscious, business decision whether you want to keep that client, even if they are losing you money or eating away at you profit. Sometimes it will feel the right thing to do, and sometimes it won’t.
Thinking like an Investor puts YOU back in control, making the decisions.
So when you are stuck simply ask yourself:
"What would an investor do"
Don't leave your success to chance. Martyn Dawes is a Social Care Business Coach whose Business Advance Programme is transforming Social Care companies across the UK.
Find out more at https://bit.ly/BusinessAdvance
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