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Quotes & Notes:
- Any doctor can start up a practice and that 84% of doctors that want to own their own can with great levels of success.
- If it is your first practice if you know you want to own your own practice if you are going to consider an acquisition it is going to be better than a startup if it is already perfect if it is exactly what you want long term.
- I like to describe acquisitions a little bit like turkey soup from Panera… it looks good on the menu, and the things that we might look at as good opportunities, sometimes there is more in that recipe that we don’t even know to look for.
If it is not perfect the first time around, you might as well start from scratch, as long as the from-scratch plan has a high level of success.
- If you are going to buy that practice, you are buying patient relationships.
- Everyone knows that demographics for a startup are important, but demographics for acquisition are also… If it (the patient base) is not going to grow naturally, then you are going to fight for growth.
If you are still needing to work in a part-time position a year after you open, that is my definition of a startup failure.
- If you can follow a proven path with a startup, the rewards can be amazing.
- Startup practices do fail; startup practices can collapse.
- Don’t end up like lots of doctors we come in contact with, who end up with lots of regret for missed opportunities. Don’t delay.
If you would like to learn more from Jayme Amos or go to his course you can go to idealpractices.com/course and be sure to apply for the scholarship opportunity we have put together for one listener.
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