LNC Business Development Expanded Checklist
Business development is defined as the act or process of development, growth, or progress.
It is an ongoing process for growth and progress. A successful LNC business guides attorneys by analyzing medical records, to reduce their frustration and help them litigate cases.
LNC Business Development Checklist
Budgeting
An important part being a business owner includes creating an accurate budget. Above all, it involves uncovering every invisible cost, one-time investment, and recurring cost needed to launch and maintain your LNC business.
Don’t forget to include room for unforeseen costs when you write up your business budget. A smart budget will plan for 3 years of business expenses. Don’t worry – you won’t need all of this money upfront. As a result, as long as you know what your one-time, invisible, and recurring costs are and you are getting income from cases, your budget can work out.
Understanding your numbers
Running a successful business online means monitoring relevant statistics. You have to absolutely know your “numbers” or you are counting on luck to make your business a success.
- How many cases are you getting in per year?
- What percentage of your clients come back to you?
- Who are your top clients and how much do they spend with you each year?
- How much of your cases are related to specific services versus others (i.e. locating experts versus doing behind the scenes work)?
- How much profit do you typically make from each case?
- How much are you spending in advertising?
Fortunately, there is a number of statistics programs and software suites you can benefit from. Certainly, Google Analytics is a very powerful, free resource for tracking important business metrics related to your website.
Scheduling
Technology is your friend if you have a tough time setting and sticking to schedules. For instance, there are countless scheduling applications and programs which sync across all of your computers, phones, and tablets.
If you have done your research, planning, and budgeting correctly, your scheduling is the next logical step. Next, refer to these three activities and then schedule the appropriate tasks. You will find that being successful requires setting up several recurring schedules, for example, taking place on a daily, weekly, and monthly basis.
Taking action
The knowledge and tools to get things done are of little use without actually taking action.
Finally, knowing when to go to the next step to take is an essential skill. For instance, in terms of keeping things moving and progressing your business goals is imperative. Project management apps to assign deadlines to tasks to ensure things are getting done. Explore Click Up, Trello and Asana for help.
Check out my most recent book, Legal Nurse Consulting Success Vol 1, for tips and strategies to conquer the many critical aspects of developing a successful business.
Pat Iyer is president of The Pat Iyer Group, which develops resources to assist LNCs in obtaining more clients, making more money, and achieving their business goals and dreams.
Pat’s related websites include the podcasts broadcast at podcast.legalnursebusiness.com, and writing tips supplied at patiyer.com.
Get all of Pat’s content in one place by downloading the mobile app, Expert Edu at www.legalnursebusiness.com/expertedu. Watch videos, listen to podcasts, read blogs, watch online courses and training, and more.