How to Turn a Profit from Your Team with Norelle Pratt
Practiceology "7 Questions in 7 Minutes" PodcastShow Notes
đ Just released the latest Practiceology "7 Questions in 7 Minutes" podcast, this episode features HR expert Norelle Pratt. If youâre running an allied health clinic, this episode is packed with practical HR insights you can implement right away. Here are my top three takeaways: Track What Matters: Norelle recommends setting up a simple spreadsheet to track key metricsâthink practitioner utilization, wage costs (including super), and revenue. Even a basic tracker can help clarify where your money goes and identify how each team member is really performing. Know Your Numbers Before Making Decisions: Many practice owners struggle with profitability because they donât know their numbers (e.g., wage as a percentage of revenue). Norelle suggests using 40â55% as a general benchmark in allied health. Awareness of your stats helps with everything from pay rises to incentivising staff. Donât Be Afraid of HRâUse It Wisely: You donât need a full-time consultant if youâre a smaller clinic, but having access to expert guidance ensures your contracts are legal and avoids costly mistakes. Proactive HR support helps keep you out of troubleâwithout locking you into expensive, unnecessary contracts. You can find out more about Norelle and get access to her amazing HR resources including: "How to Master Wage Costs & Effortlessly Forecast Profitability" at: https://hrforhealthleaders.com.au/
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FREE âEarn More â Work Less- Kickstartâ Session To find out if you are suitable for the Practiceology⢠program â click on the link below and book a FREE âEarn More Work Less â Kickstart Session" with program creator - Paul Wright: https://www.mypracticeology.com/kickstart/
More from Practiceology "7 Questions in 7 Minutes" Podcast
Just released the latest Practiceology 7 Questions in 7 Minutes Podcast featuring Stephen Franson, founder of The Remarkable Practice, to share strategies for building a scalable, profitableand remarkable allied health business. Whether you're launching, building, scaling, or planning your exit, this conversation is packed with practical insights for health professionals aiming to stop working âinâ their business and start working âonâ it. Including details of Stephen's upcoming "Remarkable Practice Immersions". Top 3 Takeaways: đ Systems Are Everything: As Stephen explains, a business is only scalable, durable, and transferable if you have robust systems in placeâfor attraction (marketing), conversion, retention, team building, and collections. Without these, youâre just building yourself a bigger job, not a business. đ Diagnose Your Constraints: Many owners try to out-hustle their way past bottlenecks, but according to Stephen , the only way to achieve growth is to identify and directly address your biggest operational constraints, not just work around them. đ Wear the Right Hat: Being a health business owner means mastering three identities: the doctor, the operator, and the business owner. Each requires different skills and focusâknowing which âhatâ to wear and when is critical for success. If youâre looking for actionable ways to transform your practice, check out the upcoming Remarkable Practice Immersions mentioned by clicking HERE or the link below: https://theremarkablepractice.com/upcoming-events/
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