Mike Rossi’s Post

Balancing client care with managing your practice’s finances can sometimes feel like a juggling act, right? 🤹♀️ Here are some down-to-earth tips to help you steadily/noticeably increase your revenue or save you big sums throughout the year: 1️⃣ Mix It Up with Your Income: Think beyond one-on-one sessions. How about adding workshops, group therapy, or even an online course? Diversifying your income streams can help smooth out the financial ups and downs, providing a more stable foundation for your practice. Imagine increasing your annual revenue by 20+% just by adding a few group sessions! 2️⃣ Invoice Like a Pro: Let’s face it, chasing payments isn’t fun. Set up your EHR to handle insurance billing and use automated invoicing tools for direct payments. It saves time and keeps the cash flowing smoothly, so you can focus more on your clients. Efficient invoicing can considerably reduce unpaid invoices, putting more money in your pocket sooner. 3️⃣ Trim the Fat: Regularly review your expenses. That subscription you forgot about? Cancel it! Small savings here and there add up, giving you more to invest back into your practice (or maybe a well-deserved vacation 🌴). Taking control of your practice’s finances with these tips can lead to a more predictable and secure financial situation. Imagine how much smoother your practice could run with these small but impactful changes. Ready to take the next step towards financial peace of mind? Let’s chat about how we can support your journey to financial zen-mode.

💼 Unlock the Power of Unearned Revenue with The 10X Accountant! 📊✨ Curious about how unearned revenue impacts your business finances? Our latest blog breaks down this important concept in simple terms, helping you understand how to manage advance payments and liabilities effectively. Whether you're in real estate, retail, or any service industry, mastering unearned revenue is key to maintaining financial transparency and success. 📖 Ready to take control of your financial strategy? Check out the full guide here: https://lnkd.in/gDCyJJ6Y #UnearnedRevenue #FinancialTips #BusinessAccounting #The10xAccountant #FinancialTransparency #AccountingForBeginners #BusinessSuccess

Most business owners have a CPA, Attorney, Insurance Agent and Financial Advisor. All of them are a necessary expenses to the owner and his business. Why do business owners need a Savings Advisor? First of all there is no cost to the owner or business unless there are savings. Secondly, that Adviser can work with the CPA and CFO (Office Manager, etc.) and provide help in areas they either do not have the experience or the time to look for savings. These areas are: 1. Accounts Payable time and expense 2. IT development costs 3. Shipping and Package expense 4. Employee Benefits expense 5. Utility audits 6. Cell phone audits 7. Waste audits 8. Uniform and laundry audits 9. Credit Card Fee Audits 10. Workers Comp Audits 11. Class Action Investigations 12. Pay any Day for Employees 13. Property Tax Reduction 14. Property Reclassification All at no cost to the business unless savings are attained! With no change of relationships or vendors! Click here for a 15 minute discovery meeting since some businesses will not qualify for certain items: https://lnkd.in/gaswGVvN

In the dynamic world of business finance, understanding and effectively managing financial aspects play a pivotal role in the success and sustainability of any company. Among the crucial components that contribute to a company’s financial health are Business Free Cash Flows, Business Savings, Business Investments, and Business Insurance. Each of these elements serves distinct purposes and holds specific significance in shaping the financial landscape of an enterprise. In this article, we will delve into the differences between these key concepts and explore their individual roles in driving business growth and stability. https://bit.ly/3TsoT8t

How much cash should a new business owner hold? Well… the answer is it depends on your business model! Here are my thoughts on how many months of expenses you should consider holding in cash: ◾ 3 months: a small portion of income comes from many clients; recurring revenue structure; high retention rates / 12+ month contracts; low risk business ◾ 6 months: moderate client base and may have a larger portion of revenue coming from a handful of “A+” customers; moderate retention rates / annual contracts; moderate risk business ◾ 9-12 months: revenue comes from a few clients; low retention / short contracts; very new business with high risk The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment or tax advice, you should consult with appropriate counsel, financial professionals or other advisors. 3583756-052024 For more information, contact me at

In the dynamic world of business finance, understanding and effectively managing financial aspects play a pivotal role in the success and sustainability of any company. Among the crucial components that contribute to a company’s financial health are Business Free Cash Flows, Business Savings, Business Investments, and Business Insurance. Each of these elements serves distinct purposes and holds specific significance in shaping the financial landscape of an enterprise. In this article, we will delve into the differences between these key concepts and explore their individual roles in driving business growth and stability. https://bit.ly/40SfonG

After spending over 22 years with an insurance-based broker-dealer, I realized the future of financial advisory lies in independence. This is the story behind AdvisorLink and the vision that drives us. In the financial advisory world, there are two main models: On one side, you have the employee-employer model, typically found in insurance-based broker-dealers or wirehouses. Here, you're a W2 or statutory employee. The payouts might be lower, but you benefit from training, development, performance coaching, and access to experts and resources that help you grow. On the other side, there are independent advisors. They enjoy better economics, higher payouts, superior tech stacks, and a broader array of strategies and solutions for clients. There are no conflicts of interest because there’s no product manufacture. However, independence comes with its own challenges. You're on an island—no one cares if you're growing or losing clients or about your work-life balance and back-office support. It’s all on you. This stark contrast in the industry led us to create AdvisorLink. We wanted to offer a solution that combines the best of both worlds. AdvisorLink is for advisors who want to transition to independence but need support in launching, transitioning clients, and setting up their businesses. We help with legal counsel, choosing the right tech stack, and providing marketing and client development support. For those who are already independent but feel isolated, AdvisorLink offers a lifeline. We provide back-office support, risk management, fee-based planning support, and access to professionals and experts in various areas. AdvisorLink stands in the middle ground, offering the support and resources typical of a financial services firm while maintaining the independence that advisors crave. You own your business, your client relationships, and your assets. You have your own DBA, but with the backing of AdvisorLink, you can run your practice smoothly and efficiently. Call to Action If any of this resonates with you, I invite you to reach out for a conversation. At AdvisorLink LLC, we're here to help you transition to independence or provide the support you need to excel in your existing practice. I look forward to the opportunity to work together.

🚗 Car Subscription Service Financial Model (10 Years) DCF & Valuation: Dive into the automotive subscription business with a comprehensive 10-year financial model. Estimate revenue, costs, and profitability to drive strategic growth. #CarSubscription #AutoFinance #DCFModel #BusinessPlanning The Car Subscription Service Financial Model with a 10+ Years DCF (Discounted Cash Flow) and Valuation provides a detailed financial analysis for car subscription businesses. It includes projections for subscriber growth, fleet expansion, operational costs, and revenue streams. This model helps assess the long-term profitability, scalability, and investment potential of a car subscription service. Additionally, it produces financial statements, valuation, and break-even analysis, enabling informed decision-making and strategic planning. Key Components: Subscriber Growth: Projections for customer acquisition and retention over time. Fleet Expansion: Forecasts for vehicle purchases, leasing, and fleet maintenance costs. Operational Costs: Breakdown of costs including vehicle maintenance, insurance, customer support, and marketing. Revenue Streams: Income from subscription fees, add-on services, and premium features. Capital Expenditures (CapEx): Investments in vehicles, technology, and infrastructure. 10+ Years DCF and Valuation: Long-term financial projections, including DCF analysis to assess business value and ROI. Financial Statements: Projections of the income statement, balance sheet, and cash flow statement. Break-Even Analysis: Calculation of the break-even point based on fixed and variable costs. Key Benefits: Informed Decision Making: Offers detailed insights into revenue, cost structures, and fleet management. Strategic Planning: Helps plan fleet expansion, customer acquisition, and service improvements. Profitability Analysis: Evaluates the financial viability of pricing models and service offerings. Investment Appeal: A comprehensive financial model to attract potential investors and secure funding.

Hey everyone!👋 In today's world, the #insurance industry faces numerous challenges—rising claim volumes, regulatory changes, and economic instability. Managing these complexities makes precise and efficient financial handling more crucial than ever. 🌍💼 That's where we come in! Our software includes #fullspectrum accounting features tailored specifically for the insurance industry. From premiums to payouts, you can handle all financial aspects with precision and ease.📊✨ Imagine having a tool that not only simplifies your accounting processes but also helps you navigate these turbulent times with confidence. 💡📊 Ready to elevate your accounting game and ensure your business thrives? Let's tackle these challenges together. Drop a comment below or reach out directly to learn more. We're here to help! 🤝✨ #InsuranceAccounting #FinancialManagement #InsuranceIndustry #AccountingSoftware #http://www.3fat.in

Keeping FQHC Accounts Receivable Clean: Tips and Strategies for Leaders Managing Accounts Receivable (A/R) effectively is crucial for Federally Qualified Health Centers (FQHCs) to maintain financial health and sustainability. A clean and accurate A/R not only reflects the true financial position of the center but also ensures that resources are allocated efficiently and patient satisfaction remains high. Let’s break down why maintaining clean A/R is essential, common challenges faced by FQHCs, and best practices that leaders can implement to achieve this. ✨What happens when reality isn’t reality? As an FQHC leader, you can’t make good decisions if you don’t know how much money to expect from insurance and patient accounts. The challenge is that most FQHCs A/R is wildly misstated. Maintaining the integrity of your patient accounts receivable is critical to being able to manage and plan for the future. Every day that goes by, balances become more uncollectable on your insurance A/R. ✨Key Parameters for FQHC Leaders to Monitor To maintain a clean A/R, FQHC leaders should regularly ask themselves key questions: Collectability of A/R: How much of our current A/R is realistically collectible? Identifying and addressing uncollectible balances promptly is essential. Credit Balances: How many credit balances do we maintain on patient accounts? Excessive credit balances can indicate billing errors or overpayments that need to be corrected promptly. Expected Revenue: How much revenue can we expect from patient accounts receivable? This helps in forecasting cash flow and setting realistic financial goals. Connect with Synergy to see how we can help you maintain and reduce A/R: https://hubs.li/Q02S2jM90