Understanding Business Structures and Should I Incorporate
What is the right business structure for your practice – Are you a sole proprietor? Do you have a partner? Should you incorporate? This module will help you understand how to limit your personal liability and offers considerations for reducing your tax liability. This module will explain the following business structures:
• Sole proprietor
• Partnerships
• Cost Sharing
• Incorporation
Understanding Financial Statements
Understanding Financial Statements Interested in learning how to make sense of financial statements? This module will help you understand the complicated language of financial statements and assist you when speaking with your accountant. This module will explain the following:
• Income Statements
• Balance Sheets
• Cash Flow Statements
• An Example: Opening a Professional Practice
Choosing the Right Practice Location
Location, Location, Location – is a key determinate in growing your practice. Learn how to select the right location for maximum growth. This module will explain the following:
• Market research
• Area Demographics
• Market Opportunity
• Profession to population ratio
• The competition
• Buying or Leasing premises
• Lease arrangements
• Utilities and common area costs
Marketing your Practice
Not sure how to effectively market your practice? This module will impart resources to give your practice the upper hand in your market place. This module will explain the following:
• Market research
• Research findings
• Marketing strategies
• Building relationships
• Internal vs. external marketing
• Advertising & promotion
