Financial Management Strategies

1 min. read

Financial management has two goals: profitability and viability. The practice wants to be profitable and continue in business. It is possible to be profitable and yet fail to continue business.

Profitability

In maximizing profits, there is a trade off between risk and return. The greater the risk we undertake, the greater the anticipated profit we demand. We make many financial decisions on the basis of whether the return on a specific investment is great enough to justify the risk involved.

Viability

Join for FREE and keep reading...

To keep reading, join our free Starting with Success program now! As a new ND, we know you need resources to help you succeed as you launch your career. Starting with Success is your free one-stop shop, whether you’re looking for resources related to job-hunting, joining an existing traditional or integrated practice, or starting your own. A few of our helpful resources include:

  • Articles on everything from contract negotiation to marketing plans
  • Practice Checklists
  • Free webinars 

It’s important to us that the naturopath profession grows and thrives, regardless of your insurance provider — but we’re always here when you need us, whether it’s insurance or financial solutions.

Sign in Join for free

Hundreds of resources...join for FREE!

Join for free

This website uses first party and third party cookies to improve your experience and anonymously track site visits. By visiting this website, you opt-in to the use of cookies. OK