Establishing an audiology private practice in Canada or anywhere else in the world requires balancing clinical excellence with robust business planning. Most audiologists contemplating private practice already possess clinical excellence, necessary licenses, and certifications to facilitate practicing privately. The difficulty arises is the knowledge of where to begin this process.
At the most basic level, the perspective practice owner will need to establish if they are an entrepreneur. The presentation will begin by discussing the capabilities and qualities of an entrepreneur.
The next level is planning the business. The rational for and specifics of both the pre-planning exercise and formal business plan are discussed. Preplanning involves brainstorming and finetuning the practice’s scope and concept, such as the strategic direction and formulation, as well as the implementation and control of the business once it is operational. These general concepts are integrated into the formal business plan that consists of the executive summary, vision and mission statements, practice overview, a market assessment, competition analysis, personnel and human resource needs, an operational plan and finally the financial plan.
These days the correct orientation as an entrepreneur and a detailed business plan the perspective practice owner is armed with the attitude and the data to obtain funds and begin as well as maintain their audiology private practice.
Learning Objectives:
- After attending this presentation, the participant will be able to describe the capabilities and qualities of an entrepreneur.
- After attending this presentation, the participant will be able to describe the rationale for and the elements of a pre-planning exercise.
- After attending this presentation, the participant will be able to describe rational for and the elements of a formal business plan.
