Cameron is joined by Stephanie Simkins, owner of Harper & Faye Financial, and they discuss the critical importance of financial clarity for aesthetics practice owners. They explore various aspects of financial management, including bookkeeping, P&L statements, payroll, cost of goods, and cash flow. The conversation emphasizes the need for practice owners to understand their numbers to drive business success and prepare for future growth or exit strategies.

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Takeaways:

• Understanding your numbers is crucial for business success.
• Bookkeeping is often overlooked but is the backbone of your business.
• P&L statements provide insight into your financial health.
• Cost of goods sold directly impacts your profitability.
• Consistency in bookkeeping is essential for long-term success.
• Payroll management is a significant expense that needs careful consideration.
• Cash flow issues are common and need to be monitored closely.
• Preparing for business valuation requires clean financial records.
• Discounts and promotions should be approached strategically.
• Hiring a financial expert can provide significant ROI.

Unlock the Secrets to Success in Medical Aesthetics & Wellness with "Medical Millionaire"

Welcome to "Medical Millionaire," the essential podcast for owners and entrepreneurs in
Medspas, Plastic Surgery, Dermatology, Cosmetic Dental, and Elective Wellness Practices! Dive deep into marketing strategies, scaling your medical practice, attracting high-end clients, and staying ahead with the latest industry trends. Our episodes are packed with insights from industry leaders to boost revenue, enhance patient satisfaction, and master marketing techniques.

Our Host, Cameron Hemphill, has been in Aesthetics for over 10 years and has supported over 1,000 Practices, including 2,300 providers. He has worked with some of the industry's most well-recognized brands, practice owners, and key opinion leaders.

Tune in every week to transform your practice into a thriving, profitable venture with expert guidance on the following categories...

-Marketing
-CRM
-Patient Bookings
-Industry Trends Backed By Data
-EMR's
-Finance
-Sales
-Mindset
-Workflow Automation
-Technology
-Tech Stack
-Patient Retention

Learn how to take your Medical Aesthetics Practice from the following stages....
-Startup
-Growth
-Optimize
-Exit 

Inquire Here:

http://get.growth99.com/mm/