Are you a naturopath, osteopath, chiropractor, or physiotherapist just to name some of our Allied Health clients?
Then we understand what it takes to help you create a business you’ll love. Yes, a business not a job because this is where it gets tricky. You are a specialist – you studied hard and long to setup your own practice. But what does it take to transform a job into a business?
As a business owner you will be an administrator, bookkeeper, marketer and HR manager not to mention an effective practitioner. But wearing all these hats will run you raggard in no time and have you questioning why you went into business.
Like most service professionals you will come to learn that if you attend to everything involved in running the business, your income levels are likely to fall. That’s not a reflection on you but has to do with operating a business.
To succeed you will need to leverage the labour and skills of others so that income is generated on your behalf. This is the only way you will be able to make enough money to make having your own practice worthwhile.
So you will need to have a plan, this is vital or you will most likely fail!
The plan will include the following:
1) Documenting your business growth plan
2) Understanding your ideal client
3) Creating specialised services and or treatment plans
4) Ensuring you have accurate and up to date financial data
5) HR strategies which aim to develop the skills of your staff and or contractors
6) Enough capital to fund your future growth
7) A management structure so the business can operate without you if necessary.
8) A succession plan for yourself as the owner
It is also important that you select the best of breed software to manage your practice as this will allow you to operate efficiently and deliver the best customer service experience whilst ensuring you meet the compliance requirements of your industry. This software should be able to integrate with your accounting system.