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Chiropractic Succession Planning Program
If you truly value your purpose and your incredible impact on society you will want to pass the torch onto the next generation so that your community can continue to be healthy, happy and well adjusted.
Also, I am predicting a very successful financial year! In the last month, the coaches have helped me have the confidence to do a fee increase, and to go into contract negotiations with my RMT and physio.
I'm not sure I would have done these things, or at least as effectively, if it wasn't for my coaching support. "
Knowing when it is time to begin transitioning your practice to a new leader is difficult. Doing it effectively is nearly impossible if you don’t have a plan in place. That’s where I come in.
There are many components to a successful succession plan that will be covered in the program, including:
•Time - What will you do with your time if you are not spending 20 to 50 hours/week in your practice?
•Quality of Life - What do you want those years to look like? It takes real work to enjoy life after your career.
•Financial Review - Can you afford the quality of life you are proposing? What revenue sources will you have in retirement? What is the optimal timing of your exit? Is there a value to staying on in an associate role for a period of time?
•Emotional Letting Go - Your practice is like one of your children. You envisioned it, birthed it, raised it and now it is time to let it go. It is harder than you think (I can say that from personal experience) so it is wise to be prepared.
•Team Considerations - How do you tell your team? When do you tell your team? What are the emotional and financial considerations?
•Passing the Torch - Whom do you pass to? Where do you find them? How do you know they are the right person? When do you pass the torch? Do you do it in one outright sale or is it better to do it over time in a scaled buy in?
•Working On the Business and Not Just In It - If you bring on the new torchbearer in a scaled way what is your role? What outcomes do you need to achieve to continue to add value to the business if you are no longer working as much in the business?
•What Is Your Business Worth - How much can you sell your practice for? How long does it take? Should you count on that money being part of your retirement plan? What are the tax implications of the sale?
These are just a few of the many factors and considerations that you should be aware of when you are considering designing a succession plan. Since most of us will only do this once in our lives, we have no frame of reference for how to go about it.
I designed the Chiropractic Succession Plan Program to help docs just like you explore the answers to all of these questions and determine what answer is best for you, based on your unique situation.
It is an all inclusive program that will take place over the course of several months. It will be shared in a small intimate group format via Zoom where the materials will be fully explained and you will have questionnaires and modules to work through as homework to customize the program to your individual needs. There will be time on each call for Q&A and/or your questions can be answered via email or text message.
Double your profits and free up one more day per week without wasting marketing money, changing how you practice, or making you obsess about work.