Whether your exit strategy is one or three years away, here are four tips to consider:
- Don’t renew or sign any agreements or leases! Some agreements are not transferable, and leases will have to be bought out. Don’t sign without thinking it out.
- Cut back on expenses now! Banks and groups look at three years of finances. Start game planning now where you can cut back, without affecting operations.
- Define your goal! Exiting means something different to everyone. What are your goals, what do you want to do, how long do you want to work?
- Get your practice appraised! Whether its payroll or cost of goods sold (COGS), you need to know where you have room for improvement.
Tip by Dr. Kurt Liljeberg and Bret Halishak of Total Practice Solutions Group – Great Lakes.