by Corporate Relations and Business Strategy Staff
For many health professionals, creating a business plan is the necessary first step in charting a path to successful practice. This is true whether you are just starting a practice, looking to expand or diversify the services you provide, or just wanting to work more efficiently and effectively.
A business plan helps you set goals and guides decisions about how to achieve your goals. It can also aid other important processes such as communicating with those who might use your services and facilitating the acquisition of vital resources such as small business loans and new contracts.
Without a viable business plan, you may miss important opportunities to grow your practice and develop new sources of revenue. You also run the risk of squandering limited resources on unproductive activities that force you to work even harder just to make ends meet.