How to Make Your Practice More Profitable

1. Introduction
During volatile economic times, the importance of management of any small business becomes obvious and critical. Successful management strategies undertaken during these times will allow borderline practices to stay afloat and enable profitable practices to continue to prosper. If systems are put in place and continue to be followed once the economy responds, profits in the properly managed business will only climb.

Before changes can be made, a basic understanding of business mechanisms and planning is essential. There are many sources of information to get baseline understanding. Some of these sources include online courses or webinars, instructional DVDs, and journal articles. More formal education is available at local colleges and universities, as well as some adult education night courses at high schools. It would behoove the reader to undertake one or more of the aforementioned studies and pursue conversations with practice analysts, financial advisors, and accountants. [...]