In this section, we look at two interconnected aspects of practice building:
- How to add value to your practice so that is more robust, stable, and resilient
- How to actually sell it to another owner who will carry on
Each post examines a part of the process and then breaks it down into small, more manageable steps. And when we put together all the pieces, major changes can occur.
“Building value” articles:
Build a More Valuable Practice by Focusing on Profit
Build a More Valuable Practice by Nurturing Next-Gen Leaders
Standardizing Everything and Cross-training Everyone Adds Practice Value
Build a More Valuable Practice by Shrinking the Owner's Role
Build a More Valuable Practice by Diversifying Referral Streams
“How to sell” articles:
Selling a practice: How they become assets and how to maximize their value
How to sell your practice: Finding the next owner of your practice
How to sell a mental health practice: What is the process?
How to finance the sale of a mental health practice
How to estimate the value of a mental health business
How to sell: Getting you and your practice ready
Building value
Build a More Valuable Practice by Focusing on Profit
Growing profit, i.e., Ebitda, is the easiest way to add value to an organization. But what does that mean? And how does one go about growing Ebitda? Let’s begin by […]
Build a More Valuable Practice by Nurturing Next-Gen Leaders
Once a practice has reached a certain size, finding, training, and nurturing the next generation of leaders moves to the top of the list. Failure to nurture next-gen leaders inevitably […]
Standardizing Everything and Cross-training Everyone Adds Practice Value
Standardizing everything and cross-training everyone is one way to increase a mental health practice’s value. But even more importantly, doing so makes the business run more smoothly and diminishes vulnerabilities. […]
Build a More Valuable Practice by Shrinking the Owner's Role
At some point, shrinking the owner’s role is essential for the business to thrive. Overdependence on the owner can be crippling and doom the business to a shutdown when the […]
Build a More Valuable Practice by Diversifying Referral Streams
Diversifying referral streams will strengthen and add resilience to any mental health practice. Furthermore, diversifying referral sources will make the practice more valuable to a potential purchaser. The goal in […]How to sell
Selling a practice: How they become assets and how to maximize their value
When a practice owner plans on selling a practice, there may be a bit of a shock. Practice owners are often surprised at how accountants and potential purchasers determine a monetary […]
How to sell your practice: Finding the next owner of your practice
Finding the next owner of your practice is one of the most significant decisions an owner makes. And since most owners of mental health organizations have limited business training, they […]
How to sell a mental health practice: What is the process?
How does one sell a mental health practice? What is the process? In my view, developing an exit plan is an especially wise investment of time as a practice reaches […]
How to finance the sale of a mental health practice
Figuring out how to finance the sale of a mental health practice is a massive part of making the deal happen. But fortunately, there are many with financial resources who […]
How to estimate the value of a mental health business
When selling a mental health practice, we should understand how to determine its monetary value. Fortunately, the buying and selling of companies happen every day. Therefore, accountants have developed standard […]