Annual Planning for Cash Based Practice Owners
Planning for the year ahead can be exciting and daunting all at once. It’s fun to dream about where you want to go and what life could look like by the end of the next year, but sitting down to map out the steps can sometimes feel overwhelming. However, creating a solid annual plan is one of the best ways to turn your goals into reality. By breaking big goals into actionable steps, setting milestones, and tracking progress, you’ll build a roadmap for success in the following year.
One of the most challenging parts to goal setting is getting started. That’s why I’ve provided you with this step-by-step guide to annual planning for your cash based practice - from reflecting on the past year to designing a system that helps you stay on track.
Reflect on the Past Year
Before you dive into planning for the future, it’s important to reflect on the past year. This process can give you valuable insights into what worked, what didn’t, and what you want to change.
Here are some questions to guide your reflection:
What went well last year?
What didn’t go as planned?
What made you happy, and what do you want more of in your life?
What drained your energy, and what do you need to let go of?
If you’ve been keeping a journal, reviewing weekly or monthly reflections can make this process easier. But even if you haven’t, take time to write down your thoughts. Be honest with yourself about both the positives and negatives, but make a point to celebrate the wins, big or small.
Learn more about completing a weekly reset and staying organized in your practice at the blog post here.
Define Your Goals for 2025
Once you’ve reviewed the past year, it’s time to look ahead. What do you want to accomplish in the next year?
To create a clear focus, consider the three “I’s” of goal-setting:
Income: Do you want to increase your revenue or hit a specific financial goal?
Independence: Are you striving for more freedom and flexibility in your work?
Influence: Is your priority growing your audience or becoming known as an expert in a certain subject?
While it’s natural to want all three, picking one as your primary focus can help you align your goals and prioritize your efforts. For example, if income is your top goal, your plan might center on growing your client base or launching a new service. If independence matters most, you might focus on creating systems that give you more time freedom. Whatever your top priority is, the exciting news is that you can tailor your strategy to it.
Map Out Your Calendar
Planning your year starts with blocking off time for what matters most. This includes time for yourself.
Here’s how to tackle time blocking:
Mark Time for Rest: Schedule vacations, personal events, and regular downtime first. Rest is crucial to maintaining balance and avoiding burnout. Consider taking at least one three-day weekend per month or even a week off each quarter. Learn more about taking time off as a business owner at the blog post here.
Create a Weekly Template: Design a weekly schedule that reflects how you want to spend your time. Include work hours, client slots, and time for personal commitments. For those offering one-on-one services, this step is especially important to avoid overbooking yourself.
Prioritize Non-Negotiables: Block out time for important personal and professional commitments. Whether it’s gym sessions, family time, or team meetings, make sure your calendar reflects what matters most to you.
Set Client and Revenue Goals
With your calendar in place, you can define your client and revenue goals for the year.
Start by determining:
How many clients you want to serve.
The revenue you want to generate.
The time you have available for client work.
Break these goals down into manageable benchmarks, like quarterly or monthly targets. For example, if your goal is to work with 40 clients in 2025, aim to onboard 10 clients per quarter.
To ensure consistency, use the “41632 Rule” for client acquisition. This framework helps you plan the volume of outreach and conversations needed to fill your caseload:
4 consultations lead to 1 client.
16 conversations lead to 4 consultations.
32 outreach attempts lead to 16 conversations.
Build a Marketing Plan
A strong marketing plan is essential to achieving your goals.
Here’s how to build one:
Refine Your Niche: Emphasizing niche marketing strategies means clearly defining your ideal client and the problems you help them solve. The more specific you are, the more effective your marketing will be.
Set Financial and Non-Financial Metrics: In addition to revenue and client numbers, track other metrics like client retention, testimonials, and repeat business.
Choose Two Marketing Channels: Focus on one online and one offline strategy. For example, you might combine Instagram marketing with local networking events.
Schedule Outreach Time: Dedicate time each week to outreach. Consistency is key to filling your pipeline with potential clients.
If you’re new to marketing, learn more about getting started with a solid marketing strategy at the blog post here. Or you can check out resources like The One-Page Marketing Plan by Allan Dib or Donald Miller’s Building a StoryBrand for practical strategies.
Track and Adjust Regularly
A successful plan often changes—it evolves as you learn and grow throughout the year. Set aside time for monthly reviews to evaluate your progress and refine your strategy for meeting the goals you’ve set for yourself.
Here’s what to include in your monthly reviews:
Money and Metrics: Analyze revenue, expenses, and key marketing metrics.
Goal Benchmarks: Compare your results to the benchmarks you set. Are you on track? If not, identify bottlenecks and adjust your approach.
By tracking your progress regularly, you’ll stay focused and be able to pivot quickly if something isn’t working appropriately.
Build Habits and Celebrate Wins
Finally, focus on building consistent habits that support your goals. For example, if you’re working on growing your practice, make outreach a daily habit. Use tools like spreadsheets to track your progress and celebrate wins, both small and big, along the way.
Books like Atomic Habits by James Clear can provide practical tips for building habits that stick. And remember, success isn’t just about hitting big milestones—it’s about the progress you make every day.
Conclusion
PT practice annual planning is a powerful tool for creating the life and business you want. By reflecting on the past, setting clear goals, and building a plan to achieve them, you’ll set yourself up for success. Remember to review and adjust your plan if needed as you go, and don’t be afraid to celebrate your wins along the way no matter how big or small.
If you’re struggling with business goal setting for your cash based practice, reach out! We offer one-on-one business coaching in our DPT to CEO program. Or if you’d like to find out more about if our program would be the right fit for you, book a free discovery call with us. We can discuss your goals, current state of your practice, and what your next best steps would be.
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