Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Massage Entrepreneurship > Chapters 9-17 Test > Flashcards

Chapters 9-17 Test Flashcards

(80 cards)

Start Studying
1
Q

Safety concerns

A

even more so for wellness practitioner in private practice - be vigilant in approach to personal safety

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

to be safe schedule appointments when

A

someone else is in the building or home

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

sole practitioner benefits

A

“Self pay” so you can take time off

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

spa environment clientele

A

built in clientele with other spa practitioners - give them a massage they will talk to others

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

nuts and bolts of business start-up for Group Practice

A
  • schedule time for self-assessment
  • carefully interview potential associates
  • clarify roles, goals, expectations
  • Legal status options
  • Finances - can’t commingle too much or you’re a partnership
  • Product Sales - who sells, how profits are distributed
  • Marketing - who handles what, goals, dates, budget
  • Interaction levels - meetings, communicating new ideas or concerns
  • Office logistics - opening office, supplies, repairs, policy and procedure manual
  • Client Scheduling - usually each schedules own, but can get tricky with group marketing and need to develop system for handling new clients from this
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Purpose of business policies and procedures

A

they direct your decisions and actions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

2 branches of policy manual

A

internal company policies

client interaction policies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

T/F Policies and procedures can be covered in one manual

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

T/F Operational guidelines make the transition easier if you hire new employees or expppand

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

3 major functions of client policies

A

finances
communication
confidentiality
scope of practice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

T/F Business management requires commitment, creativity and great deal of time

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

T/F To convey professionalism it is important to include a wide spectrum items in your policies, even if you don’t plan to enforce them

A

False

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

5 sections covered in the policies and procedures manual

A
  • etiquette
  • office procedures
  • personal relationships
  • business hours and availability
  • operational procedures
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

T/F One of the key requirements in all policies are time limits on when things must be done

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

T/F Medium to large companies should be concerned with risk management, not small business

A

False

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

T/F The concept behind Risk Management is to eliminate any risks a company may have with regard to its employees

A

False

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

4 risk management factors to be taken into consideration

A
  • condition of building
  • escape routes in case of fire
  • ergonomic safeguards to avoid injury
  • proper use of equipment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

The use of technology can increase ….. and enhance …..

A

productivity
and
repeat services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

most important commodity a business owner possesses

A

time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

establishing ….. for yourself and clients is essential to today’s ability to be contacted all the time.

A

boundaries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

4 features software can provide

A

client management
marketing strategies
desktop publishing
online scheduling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

2 forms of tech that make business more profitable

A

computer

cell phone

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

5 reasons to buy computer

A
  • keep up with info age
  • communicate with colleagues and the online public
  • access information and research
  • market your practice
  • manage your business
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

how to recession proof your practice

A

increase your hours & decrease overhead

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
key to longterm success is
diversification
26
T/F Being an excellent practitioner ensures that when you make a move clients will follow no matter the distance
False
27
3 circumstances that prompt an owner to consider hiring help
- more work than they can handle - take an extended vacation - expanding practice - determine cost effectiveness
28
single most important skill to master to enable employer/employee relationships to flow smoothly
clear communication
29
T/F as long as you do your job well, your clients will be pleased regardless of whether or not your clerical support staff is friendly and competent
False
30
To be a good manager/boss you need to
Be organized, know that there's enough work to be done, meet w// employees, give regular feedback, and be willing to delegate
31
Independent contractor arrangement
a separate business operating within another business
32
T/F The feelings about yourself and your attitude toward money is the greatest influence on your affluence
True
33
1st step to enhancing financial prosperity
transform your attitude toward money
34
poor but pure concept
uncomfortable with money or fear that financial prosperity corrupts them
35
most impacts disparity of what client pays and what employee is paid
expense of running the business
36
purpose of forecasting as pertains to budgets
keep expenses on track
37
2 most common mistakes regarding finances
doing own taxes & not setting aside enough for taxes
38
ration of income to money to put aside for taxes
20-30%
39
if bookkeeping is sloppy what will often be missed
legitimate tax deductions
40
2 important reasons for keeping accurate financial records are
assist in running business smoothly | taxes
41
4 record keeping techniques
keep all receipts use separate business checking account monthly bank reconciliations keep auto mileage log
42
keep canceled checks and bank statements how long
2-3 years
43
a ledger sheet documents?
all income and expenses
44
5 examples of documents you must keep
``` year end financial statements contracts licenses and permits insurance claims tax returns ```
45
how long keep tax returns
indefinitely
46
T/F checks are written from the business account to keep the business finances separate from personal finances as well as keep better documentation than cash
True
47
When would it be acceptable to write a check to petty cash
if you wrote a personal check for a business expense and need to reimburse yourself
48
Summary of all sales and cash receipts
income ledger
49
cash in bank, inventory, equipment, and goodwill are
assests
50
purpose of petty cash fund
cash on hand for incidental expenses
51
bookkeeping terminology assets can be defined as
total resources of a sole proprietor or business
52
accounts receivable
amounts owed to you by another person or business
53
capital is
net worth of a business - difference b/w assets and liabilities
54
purchases to be used in business for extended period of time are called
liabilities
55
beginning a business, the expenses incurred before any revenues are collected are called
owner equity
56
type of moneys deposited in business account
cash, checks, cc, barter
57
title of ledger that records separates and classifies business expenditures
income and disbursement ledger
58
4 methods of payment
cc, checks, cash, barter
59
what is included in income records
all money related items
60
4 revenue streams of business income
cc, checks, cash, barter
61
why should you put 1/2 of all gift card revenue into a separate account
in case you reach a time where you are not receiving new income because you are receiving gift card payments
62
T/F the most successful practitioners are those who keep their marketing activities separate from their daily lives
False
63
to market a service business you must
- identify target market - develop plan - attract new clients
64
in marketing a wellness practice, you may feel as though you are competing against other practitioners however a significant part of competition lies elsewhere
products and services
65
what you should do after you have researched your competitors and compiled a profile on each one
look for patterns and trends and compare your own business assessment
66
to determine whether other businesses are in competition with you the key point is if they
provide similar services at comparable rates
67
name and describe 3 different types of cooperative marketing
same services different target market different service same target market same service same target market
68
describe joint ventures that can bring together a large group with resources to build community relations
health fairs conferences conventions
69
2 benefits for practitioners participating in cooperative marketing
expand clientele and services | stretch marketing budget
70
marketing tool for which you pay directly, listing in newspaper
advertising
71
a marketing tool that gives you exposure, like sponsoring an adopt a highway activity
community relations
72
marketing tools paid by sponsoring a team, baseball caps w/ company name and logo
promotion
73
marketing tools that are free, you're included in local newspaper article
publicity
74
percentage of time to spend on marketing in new practice or actively working to increase your client base
50% or more
75
WIIFM
What's in it for me?
76
4 examples of promotional venues
person to person networking professional alliances show and tell
77
4 Rs of direct referrals
Request the referral Repeat the request Reward the referral Reciprocate the referral
78
When a satisfied client refers a new person, what should always be done?
thank the referring client and reward them
79
2 major types of referrals
direct referrals | indirect referrals
80
Why is it important to be involved in networking groups
much business comes from word of mouth and networking is group of cooperative people supporting each other

Massage Entrepreneurship (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions