There are several big steps that a person will make in their careers. Setting up an independent practice is one of them. Many advantages come with being your own boss and directing the affairs of your business however you deem fit. However, it will not always be rosy as there are challenges that come with running your independent practice.
Here are a few questions that you need to provide answers to before starting your independent practice.
Are you ready to be your own boss?
Even though you may be working in a well-established optician business, starting your independent practice requires is a big lifestyle change. Don’t allow yourself to think that it is the same thing since your independent practice is in a similar field, it is not. Being your own boss does not mean that things will automatically get easier or you will get rich immediately. You are more likely to experience more challenges as you will be making decisions that you have never made before. Make sure that you are mentally prepared for the task ahead of you.
Can you combine your roles as a marketer and as an optician?
Just because you are an expert in the field does not mean that you will automatically earn the trust of customers. While it is important to be confident in your skills and quality services, you need to be a bit more. You need to learn how to market your practice to potential customers.
To achieve this, you need to make sure that your services are unforgettable, unique, and properly branded like most successful businesses. Marketing is an integral aspect of running an independent practice, and the success of your business depends on it. If you want your practice to stand out like arisvisioncorrection.co.uk, then you need to speak to other independent practice owners to learn from them.
Do you have many competitors at your intended office location?
Before renting out a space to start your practice, make sure that you do proper research about competitors within the same area. Your competitors probably offer the same types of products and services. Unless you are confident that you have a market advantage, considering another location might be your best option.
Do you know how much it costs to set up?
Knowing how much it will cost you to set up your practice is one thing, having the financial resources is another. However, you are better off having a proper budget that accommodates everything that you need financed to get your independent practice up and running. Many entrepreneurs are blindsided and fail to see the numerous hidden costs, which can lead to a failed practice. Make your business plan cover funding expenses such as legal fees, repairs, staff turnover, and many other hidden costs.
Do you have great interpersonal skills?
Starting your independent practice means that you will need to recruit, manage, and motivate your team. You will need to manage your relationships with your staff, customers, suppliers, patients, and other stakeholders in your business. It is not easy to manage all these personalities, but to succeed, you must be able to manage them.
Are you realistic about costs?
In many cases, passionate entrepreneurs tend to underestimate costs and overestimate sales when the business is just starting. This is a common mistake, and to prevent it from giving your practice a shaky start, you need to make a proper financial plan.
Before starting your independent practice, you must be certain of your motives. If you are trying to get out of a bad financial situation, then you may be shocked to find that running your own practice might be more stressful.
