Articles
Is Your Money Safe?
By Eric S. Miller 2008 was definitely a wakeup call for many. It was the first time since the Great Depression that many people witnessed what could happen to major financial institutions in a matter of days. Lehman Brothers- Gone, Bear Sterns- Gone, Washington...
The Ultimate Guide to Veterinarian Consultants
In conversations with our Veterinary clients we know some struggle with the management of their practices and could benefit from the advice and skill of a seasoned Veterinary consultant. While we are not business consultants, we felt that creating this article, “The...
Your Practice Sale Article
When is the Right Time to Sell My Practice? – The 5 Most Important Factors You Need to Consider BEFORE You Sell Your Practice If you have owned a healthcare practice for any length of time, there have undoubtedly been moments when you contemplated selling. The reasons...
The Value of Your Practice Depends on How You Define Your Role
Your practice is a valuable investment asset. The roles you choose to play in the business have everything to do with building value and understanding how to harness the profit to benefit your household. Focusing on building the monetary value of your practice is...
Why Financial DIY = Financial Mediocrity
In my youth, I was insistent on “doing it myself.” Even when I had no prior experience or training in a subject or task, I was determined to learn because a) I thought I could do it better or b) I wanted to save money. And at this...
Your 2020 To-Do-List is NOT Your 2021 Marketing Plan
The New Year is fast approaching – under normal circumstances, 4th quarter is a time when most of us reflect personally and professionally on what we did and did not accomplish in the year, decide what our new goals will be for the year ahead, and sometimes build a...
It’s Going to Cost You. What Are You Willing To Pay?
Since when have you ventured into anything with great results where you had no earlier knowledge of the subject before you started and then magically it all worked out with no exterior guidance (or skinned knees) whatsoever? Right. Never. At a minimum, you watched a...
How to Salvage Your Business When You Are in a Cash Flow Crunch
While it is an unfortunate reality, at some point in practice ownership you will experience times where your business cash flow is insufficient. This not only feels like a contraction of your business but can also cause you to feel anxious, fearful, and sink you...
Why the Traditional Retirement Plan is Not For Practice Owners
In any area of life or business, you will find certain advice or circumstances which may be a fit for some people, but not for others. The trouble is that one size does not always fit all. As a practice owner, you have unique opportunities and challenges. Therefore,...
Keeping Your Attention on Your Business Finances
If you have ever been to the mall with a toddler, you know they require constant attention. The moment you take your attention off the child to look at some clothes or thumb through a magazine, there is a good chance they could be 100 yards away petting a stuffed...
What’s Your View?
I read an anonymous quote the other day that said, “After climbing the mountain, you can finally enjoy the view.” Then I started to think about how building and running a practice is a lot like climbing a mountain: sometimes it’s an easy hike up a gentle slope and...
10 Reasons Why Practice Owners Are in a Financial Crisis
Most practice owners are in a financial crisis. Crisis is a strong word. It is defined as a “time of intense difficulty, trouble, or danger.” Examples of this would be a drug crisis, a drought crisis, a food crisis, or some kind of health crisis. It is a word that...