Dr. Gyl Kasewurm, Au.D. is a private practice owner who has been in business by herself since 1983. With almost 30 years as the owner of Professional Hearing Services, Gyl has contributed several articles to ReSound about private practice management with tips and advice for business owners and those just starting out.
Gyl has often been asked what it takes to start a private practice. When she herself started out, she says “what I lacked in experience I made up for in ambition.” She adds, “if you want your business to be successful, you are going to have to work at it and make it your top priority.”
The very first step in starting a private practice should be developing a good business plan. This serves as a solid foundation for your practice and acts as a blueprint for moving forward.
Some questions to ask yourself as part of the planning process:
- Is your business idea viable for your marketplace?
- Do you have the professional skills to provide the highest quality of care to patients?
- What aspects of business don’t you understand? Who can you hire to help you learn?
- Do you have enough working capital to cover operating expenses and your salary for at least the first year of business?
- Do you believe 100% in the benefits of the products and services you will be offering?
- Do you like to be in charge and make decisions? If not, private practice may not be the right choice for you
Having your own business has many advantages, but starting out is hard and requires some sacrifices. Are you willing to sacrifice paid vacations, insurance, pension plans and even your salary? Are you willing to take risks? Being an entrepreneur is not for the weak of heart and requires a certain level of fortitude.
“After more than 27 years in private practice,” says Gyl Kasewurm, “I continue to believe that if you are determined to succeed and have a solid plan, owning your own practice can be the most satisfying and exhilarating experience of your life.”
Read the full article: “Is Private Practice in Your Future?” by Gyl Kasewurm on gnresound.com.