Three simple steps to start a Medical Laboratory

Some MEDICAL TECHNOLOGISTS might wonder what does "Sales in Laboratory Medicine" have to do with them. However, it has everything to do with realizing the dreams you have. In order to realize dreams you have to persuade (sell) others to invest in your dream. Whether it is getting a loan from the bank, presenting your products to customers, hiring employees, or asking people to be your business partner, sales skills are required. Many great entrepreneurs have sold their ideas to banks which partnered with them, by lending them money, in order for them to start a business. Most successful businessmen have admitted that if they weren't able to sell themselves and their ideas, then they wouldn't have gotten the money from banks to pursue their dreams.

Three steps to start a Medical Lab include:
1. Outline your business idea
2. Become a sales professional
3. Sell your idea to banks/investors

There is good debt and there is bad debt. Debt that put money in your pocket for the long-term is "GOOD" while debt that takes money from your pocket is "BAD". Using debt to start a medical laboratory is "GOOD" once you have done your market research well and you have excellent sales skills. SALES IN LABORATORY MEDICINE is a financial assessment of medical labs similarly to how DEBT IN LABORATORY MEDICINE is a financial assessment of medical labs. They are both related and can either make a profit or loss for your business based on your management. In order to understand debt, you first need to understand sales.

Good debt is the road to financial freedom in Laboratory Medicine while Bad debt is the road to financial slavery. Debt can be your best friend if you know how to manage it in order to produce income. Debt is great for any Medical Technologist and it can help you to manage cash flow for your Medical Laboratory. Do the math, measure the return on investment, sell your idea to banks then get a loan, pay a little interest and enjoy the profits. The debt to sales ratio is one way lenders, including mortgage lenders, measure an individual's ability to manage monthly payments and repay debts. It is calculated by dividing total recurring monthly debt by gross monthly sales, and is expressed as a percentage. Learn how to use debt to produce income by understanding Mathematics and it will assure your financial freedom.