While on your vacation this summer, take a moment to envision how you want to spend your permanent vacation – your retirement. The quality of your retirement will depend, in part, on the amount for which you sell your practice. Whether you have an established practice or are just starting out, the business decisions you make today will greatly affect your sale price down the road.
When selling your practice, your database will be the most important asset of the transaction because it will allow the purchaser to take over your revenue stream. As such, potential buyers will want to see that your practice has a large and accurate database of “active clients” – those who have had an appointment within the last 30 months.
Building this type of database requires an approach to database management that keeps you from losing clients and helps your client base grow exponentially. The benefit of such a system is that you increase your current revenue from sales and fees while also building-up the eventual sale price of your practice.
While working with White Rock Optometry, I implemented an approach to database management and growth that allowed the clinic to expand from X doctors to X and to become one of the most valuable independent optometry clinics in the country.
So don’t wait. Call me today for a free consultation of your approach to managing and growing your database.