Course Level: Basic
Prerequisites/Advance Preparation: None
Method of Presentation: Lecture and discussion
Recommended Time Frame: 8 hours
Designed For: Professionals who are thinking about starting their own firms, single owners who have been in practice for less than two years, and all sole practitioners whose practices are not meeting their desired goals.
To teach participants how to find satisfaction and enjoy a substantial income in a single-owner practice.
To present methods for improving owner income with limited resources.
To offer practice management models and techniques that will enable participants to return to their firms and immediately implement improvements that directly increase net profit.
- Defining the differences between the “single owner” and the “sole practitioner”
- Auditing the advantages and disadvantages of each form of practice
- How to determine the best structure for your firm: A formula to calculate the factors impacting net profit
- Weighing advantages and disadvantages of adding future owners and professional staff
- Creating a business plan
- Setting long-range goals
- Defining your career objectives
- Where new business should come from
- How to find and best utilize referral resources and outside support
- How to effectively network so that it increases your billable hours
- The economics of practice