Your Fees Revisited

There are two ways to increase your net profit: Prescribe more tx and get it done; and Raise your fees and cut your overhead (somewhere, anywhere, look around…do you NEED all that stuff?).

I don’t want to beat a dead horse, but let’s look at the math anyway:

These are for examples only…

            $50,000 production with 70% overhead = $15,000.00 net

            Let’s say we reduce overhead by 2% = 68% OH on $50K = $16000 

                        You just got a $12,000 per year raise!!!!

            And, how about an increase of fees by 5%…

            $50K becomes $52,500.00 with 68% OH = $16800.00…

now you are earning $21600.00 MORE per year by shifting two numbers…

This week’s ACTION-TO-TAKE TIP: Look around. Where are your fees? When was the last time you raised them? (DON’T WAIT TOO LONG!) How much did you raise them? Can you cut overhead by a few percentage points?

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