How Much Thought Have You Put Towards Risk Management of Your Practice And Business?

How Much Thought Have You Put Towards Risk Management of Your Practice And Business?

How Much Thought Have You Put Towards Risk Management of Your Practice And Business?

As self-regulated professionals, Nurses have a significant responsibility to continually assess and improve their practice.

 

 

As an owner of a private practice, performance measurement, professional compliance and client empowerment,  are among processes to consider as part of quality assurance and risk management for sustainable success of your business.

The following infographic , contains six key initiatives you should consider to adopt within your practice and business to reduce risk and ensure not only you fulfill your professional obligations, but also your clients continually receive competent and ethical care.

Adopting these processes foster a safe and culturally competent work environment, allowing for the development and implementation of safety plans to monitor, evaluate and identify vulnerabilities within your business to minimize the consequences of adverse patient outcomes and professional liability.

Disclaimer: This information is provided in an attempt to heighten sensitivity, increase awareness, and enhance judgments on this topic. We encourage our audience to contact their legal advisor and regulatory body to learn more. CompanyOn does not represent or speak on behalf of any regulatory body. 

At CompanyOn, we’re committed to supporting our community of solo practitioners, no matter where they are in pursuing professional independence. If you are interested in a particular topic you would like us to discuss, please let us know at [email protected].

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How To Building a Successful Customer Referral Program

How To Building a Successful Customer Referral Program

How To Building a Successful Customer Referral Program

One of the basic tenets of customer success is using your service to create advocates for your business. A happy army of satisfied customers can do a lot of legwork for you.

 

 

And when word-of-mouth referrals make up 20-50% of most purchasing decisions (especially for new businesses and in emerging markets) why not take advantage of the opportunity?

A referral program is a word-of-mouth marketing tactic that encourages customers to advocate on behalf of your brand. Rather than writing reviews online, or submitting customer feedback surveys, referral programs let customers share their brand experience with partners, colleagues, and friends. 

Customer referrals are one of the most effective ways to grow your business. But how do you get customers to refer your practice? What can you do to make that referral process easier?

Developing a customer referral program can be a great way to build and cultivate your brand. Many small businesses are hesitant to invest in this strategy because they aren’t sure how much it will cost and whether or not it will generate revenue.

The following article via hubspot will provide you with best practices and even templates to implement so you can build a unique and successful referral program to help you scale your business.

Enjoy wink!

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Five Simple Ways To Attract New Clients

Five Simple Ways To Attract New Clients

Five Simple Ways to Attract New Clients

Whenever someone needs a nurse, in most cases, they ask family, friends, neighbours and clinic staff for recommendations. They want a nurse who they can trust and who they know is professional.

 

 

While revamping your marketing strategy and overhauling the way you do business don’t sound like fun, these 5 tips are designed to encourage you to take action in this critical aspect of your practice and business growth.

1. Focus on Long Term Clients

It is sensible practice to carry out a satisfaction survey with clients who you have been seeing for a year.  When they are highly satisfied it is easy to naturally follow on and ask if they will have any friends or family they could refer.  Also, if they will provide a client reference if required.

2Create A Referral Program

If you want to get referrals, you have to first make sure you’re giving exceptional products and services. With these in place, your customers will be happy to refer you to others.

Building a list of clients, former clients and their families who are happy to give you referrals is a very effective way of utilizing your past work to work for you.

Please check our article on how to create a referral program (incuding templates) here.

3. Collect Reviews Online

Another way to build trust and attract new clients is to have great reviews online.

It’s worth collecting your reviews and some software will automatically collect reviews for you.

4. Use Your Email List

By sending out your clients and their families regular newsletters, you can use the opportunity to ask them to make recommendations for you.

5. Social Media Accounts

 If you have active private social media accounts, then it is a good idea to separate the business accounts and keep things clean, neat and formal on the business versions.  A regular update of something interesting for your clients could be something as simple as a photo and brief description of a lovely view or lovely garden.  Then every once in a while remind them that referrals are the best way to gain new clients if they know of anyone who may need your services.

There’s no denying that it’s important for any business to have a solid base of current clients. But finding new and creative ways to attract new clients is key for its success. We hope these tips can provide new ideas for you to implement.

At CompanyOn, we’re committed to supporting our community of solo practitioners, no matter if they are just thinking in pursuing professional independence, or they are already well established solo practitioners. 

Related Resources:

British Columbia College of Nurses and Midwives

College of Nurse of Ontario

College and Association of Registered Nurses of Alberta

College of Licensed Practical Nurses of Alberta

College of Registered Nurses of Manitoba

College of Licensed Practical Nurses of Manitoba

Canadian Nurses Association

Canadian Nurses Protective Society

Canadian Association of Foot Care Nurses

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8 Miscellaneous Business Operating Expenses You Can Deduct for tax purposes

8 Miscellaneous Business Operating Expenses You Can Deduct for tax purposes

8 Miscellaneous Business Operating Expenses You Can Deduct for tax purposes

As a small business owner, it’s important to understand the ways you can take advantage of tax breaks and deductions to reduce your tax liability.

 

 

You’ll want to keep good records and don’t be afraid to ask for help from experts when you don’t know how to file your taxes. When you think of business expenses, the most common ones are rent, internet, utilities, and insurance, but there are countless examples of miscellaneous expenses that can be written-off as well.

To define operating expenses, consider all costs and fees associated with running and managing a business. Such costs incurred for the running of a company are tax-deductible.

As part of our commitment to provide valuable resources that help our community of solo practitioners run their business, we would like to share a list of the top business operating expenses that are eligible for deductions:

  1. Office supplies, rent, and utilities
  2. Insurance
  3. Advertising
  4. Business tax, fees, licensing
  5. Professional service, accounting, and legal fees
  6. Salaries
  7. Motor vehicle costs
  8. Meals and entertainment

In the following article by Quickbooks, you will find a more detailed explanation of each expenses and how they can be eligible for tax deductions.

We hope this is helpful 😊.

CompanyOn Expense’s tracking feature is an intuitive and easy to use tool that allows your business to keep track of everything in a very organized manner. It’s super-easy to use, and you can even create your own custom reports that you can export to your favorite accounting software.If you need help with bookkeeping, this is a great option you can take advantage of as part of our services!

Disclaimer: This information is provided in an attempt to heighten sensitivity, increase awareness, and enhance judgments on this topic. We encourage our audience to contact their legal advisor and regulatory body to learn more. CompanyOn does not represent or speak on behalf of any regulatory body.

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Understanding Business Use of Home Expenses For Taxes Purposes

Understanding Business Use of Home Expenses For Taxes Purposes

Understanding Business Use of Home Expenses For Tax Purposes

Operating expenses are an essential cost of running a business. Without them, there would be no business. The government of Canada understands this required cost of work, and as such, offers Canadians the ability to deduct a percentage of these expenses from their personal income tax returns.

 

 

When you run a business from home, your work area is subject to costs such as utilities, home maintenance, mortgage interest, and property taxes. The CRA considers these business uses of home expenses and allows you to deduct them from your income taxes.

The logic behind the deduction is that if you paid rent and common services in a commercial building, you could obviously deduct the expenses. When you run a home office, the same principle applies, but the calculations prove a bit more detailed.

As part of our commitment to provide valuable resources that help our community of solo practitioners run their business, we would like to share the following article by Quickbooks that explains in detail what business expenses you can deduct out of your home office and how to calculate this expenses.

CompanyOn Expense’s tracking feature is an intuitive and easy to use tool that allows your business to keep track of everything in a very organized manner. It’s super-easy to use, and you can even create your own custom reports that you can export to your favorite accounting software.If you need help with bookkeeping, this is a great option you can take advantage of as part of our services!

Disclaimer: This information is provided in an attempt to heighten sensitivity, increase awareness, and enhance judgments on this topic. We encourage our audience to contact their legal advisor and regulatory body to learn more. CompanyOn does not represent or speak on behalf of any regulatory body.

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