Hello September- where did you come from?! I imagine many of you are also staring in disbelief at the calendar, not quite sure how Labor Day has already come and gone. While it is always sad to see summer go, transitional periods between seasons are great times to plan and implement new ideas for your business. Something about the awareness of the passing of time and the fresh start of the new season is very motivational and inspiring- so take advantage of it! In that spir

We talk to A LOT of doctors who are considering selling their practice. They come from all over the US, have practices of every size, and are being sold for a myriad of reasons. But they all have one thing in common—they want to get the maximum return on this investment they have been building all these years. Of course they do! And I bet you do, too. And this drive to maximize return leads many doctors to consider selling their own practice. How hard can it be, after a

Today we are going to cover everybody’s favorite topic – preparing your financial statements to sell your practice! Wait- don’t leave- I promise we will make this short, sweet and to the point… And definitely worth your time! When you come to us to sell your business, one of the first things we do is review your last three years of Profit and Loss statements. We analyze these statements for possible addbacks; These are adjustments to your financial statements where we take

Everyone has experienced Buyer’s Remorse. That sinking pit in your stomach, that feeling of wasted money and ‘the-grass-is-greener’ thoughts about the ones that got away… This is a bummer when you dropped some cash on a pair of shoes, but it is devastating when it comes to buying a practice, where you have invested a huge sum of money and are in it for the long haul. We like to consider ourselves the Buyer’s Remorse anti-venom, if you will. With careful preparation you can

As a business owner, what is the one thing we all look for, universally, year after year, with no exception? Growth of course! So it’s no surprise that when it comes to selling your business, buyers are looking for growth, too. A strong three-year growth pattern is a definitive way to increase not only the price of your practice, but also its desirability, often leading to a faster sale. Unfortunately, too many doctors allow their practice to ebb and flow over the years, en

We talk to many doctors who want to sell their practices, some right away, some years from now (good job thinking ahead!), and some need it to happen yesterday. They almost all have some ideas of what they think the most attractive aspects of their practice are, the big selling points, what they think potential buyers will see and fall in love with- collections, visit numbers, attractiveness of the clinic, areas of potential growth… We also talk to many buyers who think they

So you are thinking about selling your practice- you are not alone. A recent survey conducted by Pepperdine University shows almost 2 out of 3 small business owners expect to sell or transfer their business ownership in the next 10 years! You can look on any chiropractic classified site and see an abundance of listings. But the sad truth is, not all of them will sell. Many business owners will have to just close the doors and turn off the lights, destroying plans for retir

As any successful doctor knows, the team you have in your office can make or break your clinic. Did you know a great team also adds value for your eventual practice sale? Hiring the right team members means they are more likely to stay, becoming assets to your practice. So how do you make sure you are hiring the right people? Check out this article for 7 great interview questions to give you another level of insight into the person's character, motivation, and emotional in

Have you ever seen one of those life change stress indexes? It ranks how stressful different life events are, and if you’ve never seen one, the most interesting thing about it is how stressful positive events rank on the scale. For example, on this version getting married (which ranks a 50) is nearly as stressful as the death of a close family member (a 63). And other “positive” events like pregnancy, graduation from school, and even a vacation all have a negative impact o