Since the practice is your most valuable asset, it needs to be managed so that it can be successfully transferred to a successor-owner for the highest amount when the time comes. The key is planning now – no matter what phase of practice ownership you are currently in.
But how do you begin to evaluate the condition of practice so you can focus on what needs to be done now?
Learn what areas of your practice create value and where you should focus your time and effort by taking this practice assessment for owners.
The results reveal your strengths and weaknesses in 9 key areas of your practice ownership and will answer these questions:
Do you have an idea of the desired sale value and a growth plan with a strategy in place to transition out of the business?
Is your practice organized with trained and very productive staff and have you named a successor owner?
Is the income of the practice up-trending with a profit margin of 20% or higher?
Are You Making the Grade?
It may be difficult to imagine today, but at some point in the future, you’ll be ready to move on from your practice. The more value you create for a successor, translates to a more valuable practice to you while you own it – allowing you an opportunity to run it as an absentee owner until you choose to sell someday.
In order to know where you should be focusing your time and attention as an owner, you first need to evaluate the current condition of certain areas of your practice that can have the biggest impact on the value of the business.
This simple online questionnaire is a tool we use to get a concept of the overall value of your practice in the eyes of a potential buyer. The results graph will highlight 9 different areas that may need improvement and validates those areas that are functioning effectively. The goal of transition planning is to get the practice into a state of readiness, – PRIOR to exiting your business.
Don’t waste any more precious time. Learn your ownership transition readiness so you can build a practice worth maximum value!
Have an Econologics Specialist Review Your Results
Once you know where you need to focus your attention when it comes to financial success, you can design a strategy to help you stay the course and achieve your goals without worrying about making a financial mistake or missing a good opportunity on your journey.
After you complete the assessment you’ll have the opportunity to have an Econologics Specialist review your results with you in a complimentary strategy session that will be all about you and immediate actions you can take now to protect, build and preserve your practice and your wealth.
