SECRETS TO FUNDING YOUR NEW CHIROPRACTIC PRACTICE – Part I

    

       So I’m sitting at a CE seminar earlier this month, and it’s December, so many of us present are in the same camp.  We waited ‘til year’s end to get the last of our required hours.  

       Anyway, I notice doc sitting in front of me isn’t paying attention to the instructor.  He’s got his laptop logged into an online CE hours site.  He’s studying another course for more required hours.  I can see his screen from my seat… the topic?  “Chiropractic Ethics” 

       Oh, the irony.

       Here’s another grand irony. 

       When you have the money needed to fund a new start-up practice, banks are all about lending you the money you don’t need. 

       When you don’t have the money needed to fund your new practice, and need a source of financing, banks aren’t interested in lending it to you.

       Like the old US Army commercial, “How can I get a job without experience, and how can I get experience without a job?”  

       Getting your hands on some capital has been more difficult than ever since the banking industry’s virtual collapse in 2008.  It’s been a real hurdle for recently graduated doctors looking to open a new practice.

       But there is Hope!  Besides that the lending environment is cyclical and things will rebound, the current situation that has hamstrung the Big Boy banks has revealed some opportunities in certain pockets.

       Your local community banks and credit unions are where some answers lie.  In an AOL smallbusiness article written just recently, author Geoff Williams outlines some critical points to increase your odds of getting funding.  Here are a couple:

  • Don’t be afraid to get personal.   Working with a community bank means you often deal with the chief lending officer or bank president who makes all lending decisions right there, in-house.  Meet with him or her.  Offer to take that person to lunch so he or she gets a sense of who you are and what you can do.

       One doctor who recently opened in Indiana detailed the process through which he obtained funding, and this was part of his strategy.  It obviously worked, as he received a $30K loan for his start-up.

  • Don’t shortchange yourself by shortchanging the banker of every scrap of information you can give them.  The article quotes Gilles Gade of the Cross River Bank in Teaneck, NJ, who points out that “…community bankers are often more open to funding companies in a variety of industry segments… particularly if you seek to own a niche, relatively obscure market, you need to provide ample detail in the market analysis section of your business plan.”

     Let’s face it, in the majority of markets the chiropractic profession is still a mystery.  Most do not have an understanding of what it is we do, nor what we can mean to the well-being of a community.    

     What are the chances the lending decision-maker has either no clue of what you do, or holds some urban legend in the recesses of their grey matter upon which they’ve drawn a perception of what chiropractic is?  How many comprehend the amazing growth potential of a chiropractic practice, ESPECIALLY when the DC has truly learned HOW to reach and positively impact his or her community?  

       The article stresses the importance of helping your community banker “truly understand the market you’re pursuing — along with its particular nuances, challenges and opportunities.  The more you ‘educate’ ( him or her), the more you showcase your knowledge of the market segment and demonstrate your ability to successfully penetrate it with your product or service.”

       The value of a well-written Bank Pro Forma and Business Plan for the new chiropractic practice, including detailed market analysis and well thought-out growth & income projections, cannot be overstated. 

       Without rehashing entirely what has already been written, check this link to the article to see how the local community banks and credit unions hold promise for the well-prepared doctor seeking financial help:   

 http://smallbusiness.aol.com/article/_a/small-banks-really-want-your-business/20091209154209990001?icid=main|htmlws-sb-w|dl2|link3|http%3A%2F%2Fsmallbusiness.aol.com%2Farticle%2F_a%2Fsmall-banks-really-want-your-business%2F20091209154209990001

     What are some other ways to get your hands on some needed funding?  That will be the topic of an upcoming post.  Be sure to check back soon…

Comments

  1. Chris Rush says

    Great information, Dr. Saeli! A way to trim down your Bank Proforma is to lease instead of buy. Try to keep as much cash (flow) as you can instead of purchasing all of the equipment.

  2. says

    I simply want to tell you that I’m beginner to blogging and site-building and seriously liked you’re web page. More than likely I’m going to bookmark your website . You surely come with tremendous stories. Thanks a bunch for revealing your webpage.

  3. says

    I’m extremely pleased to find this website. I need to to thank you for ones time just for this fantastic read!! I definitely liked every part of it and I have you book marked to see new stuff on your site.

  4. says

    A motivating discussion is worth comment. I do believe that you should write more on this subject, it might not be a taboo subject but typically folks don’t discuss such issues. To the next! Kind regards!!

  5. says

    This is really interesting, You are a very skilled blogger. I’ve joined your rss feed and look forward to seeking more of your fantastic post. Also, I have shared your website in my social networks!

  6. says

    Greetings! I’ve been following your website for some time now and finally got the courage to go ahead and give you a shout out from New Caney Tx! Just wanted to say keep up the fantastic work!

  7. says

    Youre not the overall blog article playwright, be in charge of. You absolutely have a bit important to bring about the web. Such a fantastic blog. In poor health restore over pertaining to further.

  8. says

    Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass’ favor.

  9. says

    The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

  10. says

    whoah this blog is wonderful i love reading your articles. Keep up the good work! You know, a lot of people are hunting around for this info, you could help them greatly.

  11. says

    Usually I do not read post on blogs, but I wish to say that this write-up very forced me to try and do so! Your writing style has been surprised me. Thanks, very nice article.

  12. says

    The term simply refers to the phrase “Subscriber Identity Module”. 2 > Run the registry repair scan to fix the corrupted registry keys created by the game. And finding out the most recent programs and their appeals is something of a dilemma when you want to play the one you found last week.

  13. says

    I was pretty pleased to uncover this page. I wanted to thank you for your time for this particularly wonderful read!! I definitely liked every bit of it and I have you book-marked to see new information in your website.

  14. says

    You’re so interesting! I do not think I’ve read through anything like this before. So nice to discover someone with a few original thoughts on this subject. Really.. thanks for starting this up. This site is one thing that is required on the internet, someone with a bit of originality!

  15. says

    An intriguing discussion might be priced at comment. I do think that you simply write more on this topic, it might not become a taboo subject but typically persons are too little to dicuss on such topics. An additional. Cheers

  16. says

    I found your blog website on google and check a number of of your early posts. Continue to maintain up the excellent operate. I simply extra up your RSS feed to my MSN News Reader. Seeking ahead to reading more from you in a while!…

  17. says

    It’s really great to interact with Sims fans all over the world and in my opinion has widened the scope of the game tremendously. When was the last time you called a business associate and invited him or her out to lunch to reconnect. The best method in earning in the game is teaming up with a full-member and let them pay you.

  18. says

    Hi! I just wanted to ask if you ever have any problems with hackers? My last blog (wordpress) was hacked and I ended up losing several weeks of hard work due to no back up. Do you have any methods to stop hackers?

  19. says

    The very next time I read a blog, I hope that it won’t disappoint me as much as this particular one. I mean, Yes, it was my choice to read, but I truly thought you’d have something interesting to say. All I hear is a bunch of complaining about something you could possibly fix if you weren’t too busy searching for attention.

  20. says

    Zune and iPod: Most people compare the Zune to the Touch, but after seeing how slim and surprisingly small and light it is, I consider it to be a rather unique hybrid that combines qualities of both the Touch and the Nano. It’s very colorful and lovely OLED screen is slightly smaller than the touch screen, but the player itself feels quite a bit smaller and lighter. It weighs about 2/3 as much, and is noticeably smaller in width and height, while being just a hair thicker.

  21. says

    I’m not that much of a internet reader to be honest but your sites really nice, keep it up! I’ll go ahead and bookmark your site to come back later on. Cheers

  22. says

    After examine a few of the weblog posts in your web site now, and I really like your manner of blogging. I bookmarked it to my bookmark website checklist and shall be checking again soon. Pls check out my website online as nicely and let me know what you think.

  23. says

    I think this is one of the most vital information for me. And i’m glad reading your article. But want to remark on few general things, The site style is great, the articles is really great : D. Good job, cheers

  24. says

    Choosing the best flight sim with lots of features is not the end. Also, please make sure your game is update and has all patches. There is much more to this expansion, and little nuances that will change the way Sims interact, and home decor.

  25. says

    I like what you guys are up too. Such intelligent work and reporting! Keep up the excellent works guys I’ve incorporated you guys to my blogroll. I think it will improve the value of my site :)

  26. says

    Somebody essentially help to make seriously posts I would state. This is the very first time I frequented your web page and thus far? I surprised with the research you made to make this particular publish amazing. Wonderful job!

  27. says

    Throughout the great pattern of things you receive an A for effort and hard work. Exactly where you actually lost me personally was on the particulars. You know, as the maxim goes, details make or break the argument.. And it could not be more true here. Having said that, allow me inform you exactly what did give good results. The article (parts of it) is actually extremely engaging and this is possibly the reason why I am taking an effort to opine. I do not make it a regular habit of doing that. 2nd, while I can see the jumps in logic you come up with, I am not really certain of exactly how you seem to unite the ideas which produce the final result. For right now I shall subscribe to your point but hope in the near future you connect the facts much better.

  28. says

    I’m really enjoying the theme/design of your blog. Do you ever run into any browser compatibility problems? A number of my blog readers have complained about my site not operating correctly in Explorer but looks great in Firefox. Do you have any suggestions to help fix this problem?

  29. says

    I have really learned some new things by your blog site. One other thing I’d prefer to say is always that newer laptop or computer operating systems have a tendency to allow additional memory to be used, but they in addition demand more storage simply to operate. If people’s computer could not handle additional memory and the newest computer software requires that storage increase, it can be the time to shop for a new Laptop or computer. Thanks

  30. says

    A lot of thanks for your entire effort on this website. Gloria loves setting aside time for internet research and it’s really easy to see why. Almost all hear all about the dynamic means you provide rewarding tips and hints through your web site and as well as attract participation from other people on the topic while my simple princess is actually starting to learn a whole lot. Have fun with the rest of the new year. Your performing a good job.

  31. says

    Aw, this was a very nice post. In concept I wish to put in writing like this additionally – taking time and precise effort to make an excellent article… but what can I say… I procrastinate alot and certainly not appear to get something done.

  32. says

    I have learned quite a few important things as a result of your post. I would also like to mention that there can be situation where you will get a loan and don’t need a cosigner such as a Federal government Student Aid Loan. However, if you are getting financing through a conventional financial institution then you need to be able to have a cosigner ready to assist you to. The lenders are going to base any decision using a few elements but the most important will be your credit worthiness. There are some loan merchants that will also look at your work history and decide based on this but in many cases it will be based on on your ranking.

  33. says

    The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

  34. says

    Thanks for the new things you have disclosed in your short article. One thing I want to discuss is that FSBO associations are built after a while. By introducing yourself to owners the first saturday their FSBO can be announced, before the masses commence calling on Wednesday, you make a good link. By giving them resources, educational resources, free reviews, and forms, you become a strong ally. By using a personal affinity for them as well as their scenario, you create a solid interconnection that, in many cases, pays off as soon as the owners opt with a broker they know as well as trust — preferably you.

  35. says

    A person necessarily help to make significantly articles I would state. This is the first time I frequented your website page and so far? I amazed with the research you made to create this actual submit amazing. Wonderful activity!

  36. says

    Woah! I’m really enjoying the template/theme of this blog. It’s simple, yet effective. A lot of times it’s challenging to get that “perfect balance” between usability and appearance. I must say you’ve done a fantastic job with this. Also, the blog loads very fast for me on Internet explorer. Superb Blog!

  37. says

    I just couldn’t go away your site prior to suggesting that I extremely loved
    the usual information an individual provide in your guests?

    Is gonna be back ceaselessly in order to check out new posts

  38. says

    I used to be suggested this blog via my cousin. I am now not certain whether this publish is written by him as nobody else recognise such designated about my trouble. You are incredible! Thank you!

  39. says

    Thanks for the write-up. My partner and i have generally noticed that almost all people are eager to lose weight as they wish to look slim in addition to looking attractive. Having said that, they do not always realize that there are more benefits to losing weight additionally. Doctors state that fat people experience a variety of ailments that can be directly attributed to the excess weight. Fortunately that people that are overweight and suffering from numerous diseases are able to reduce the severity of the illnesses simply by losing weight. You’ll be able to see a slow but noted improvement with health whenever even a slight amount of fat reduction is realized.

  40. says

    One important thing is that when you are searching for a education loan you may find that you will want a cosigner. There are many conditions where this is correct because you should find that you do not possess a past credit rating so the lender will require that you have someone cosign the financing for you. Good post.

  41. says

    Hello, i read your blog from time to time and i own a similar one and i was just curious if you get a lot of spam comments? If so how do you prevent it, any plugin or anything you can suggest? I get so much lately it’s driving me mad so any assistance is very much appreciated.

  42. says

    Thanks for the new stuff you have uncovered in your short article. One thing I want to comment on is that FSBO associations are built as time passes. By releasing yourself to the owners the first weekend their FSBO can be announced, prior to the masses start calling on Friday, you generate a good relationship. By mailing them equipment, educational supplies, free records, and forms, you become a great ally. By subtracting a personal desire for them as well as their scenario, you generate a solid relationship that, on most occasions, pays off once the owners decide to go with an adviser they know plus trust — preferably you actually.

  43. says

    I realized more new things on this weight-loss issue. One issue is a good nutrition is highly vital if dieting. A huge reduction in junk food, sugary food items, fried foods, sweet foods, red meat, and white colored flour products might be necessary. Having wastes parasites, and wastes may prevent ambitions for losing fat. While particular drugs quickly solve the challenge, the nasty side effects are usually not worth it, and in addition they never supply more than a short-lived solution. It is just a known idea that 95% of celebrity diets fail. Thanks for sharing your thinking on this site.

  44. says

    Many thanks for sharing all these wonderful threads. In addition, the optimal travel along with medical insurance plan can often ease those worries that come with traveling abroad. The medical emergency can before long become too expensive and that’s absolute to quickly decide to put a financial load on the family finances. Setting up in place the perfect travel insurance offer prior to leaving is definitely worth the time and effort. Thanks a lot

  45. says

    F*ckin’ amazing things here. I’m very satisfied to look your article. Thanks a lot and i am looking forward to contact you. Will you please drop me a mail?

  46. says

    One thing I’d really like to discuss is that weightloss system fast can be carried out by the appropriate diet and exercise. An individual’s size not merely affects appearance, but also the general quality of life. Self-esteem, melancholy, health risks, plus physical ability are impacted in fat gain. It is possible to just make everything right but still gain. Should this happen, a medical problem may be the primary cause. While too much food and not enough work out are usually responsible, common medical ailments and key prescriptions might greatly amplify size. Thx for your post here.

  47. says

    By my research, shopping for electronic devices online may be easily expensive, nonetheless there are some how-to’s that you can use to obtain the best bargains. There are continually ways to uncover discount discounts that could help to make one to come across the best electronic devices products at the lowest prices. Thanks for your blog post.

  48. says

    I was excited to uncover this great site. I wanted to thank you for ones time for this particularly fantastic read!! I definitely savored every little bit of it and i also have you book marked to look at new things on your site.

  49. says

    Rave clothing I am impressed with the valid and interesting points you make here, we agree. Check my site out, hannibal s02e01 download, grimm s03e14, banshee s02e09,

  50. says

    I keep listening to the rumor talk about getting boundless online grant applications so I have been looking around for the best site to get one. Could you tell me please, where could i acquire some?

  51. says

    I’ve been absent for a while, but now I remember why I used to love this site. Thank you, I’ll try and check back more often. How frequently you update your site?

  52. says

    Thank you a bunch for sharing this with all folks you actually recognise what you are talking about! Bookmarked. Please also seek advice from my website =). We can have a link exchange agreement between us!

  53. says

    Reserving shows and require unsigned Australian groups? The Unsigned system Australia has now officially opened it’s flood gates and is a COMPLIMENTARY platform for bands to have their profile detailed in a general public area.

  54. says

    Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  55. says

    I would like to thank you for the efforts you’ve put in writing this blog. I am hoping the same high-grade web site post from you in the upcoming also. In fact your creative writing abilities has encouraged me to get my own blog now. Actually the blogging is spreading its wings rapidly. Your write up is a great example of it.

  56. says

    you are really a good webmaster. The site loading speed is amazing. It seems that you are doing any unique trick. Moreover, The contents are masterwork. you have done a excellent job on this topic!

  57. says

    I like what you guys are up too. Such intelligent work and reporting! Carry on the excellent works guys I’ve incorporated you guys to my blogroll. I think it’ll improve the value of my website :)

  58. says

    My brother recommended I would possibly like this blog. He used to be entirely right. This publish actually made my day. You cann’t believe just how so much time I had spent for this information! Thanks!

  59. says

    I loved as much as you’ll receive carried out right here. The sketch is attractive, your authored subject matter stylish. nonetheless, you command get bought an nervousness over that you wish be delivering the following. unwell unquestionably come more formerly again since exactly the same nearly very often inside case you shield this increase.

  60. says

    Pretty section of content. I just stumbled upon your website and in accession capital to assert that I get actually enjoyed account your blog posts. Anyway I’ll be subscribing to your feeds and even I achievement you access consistently quickly.

  61. says

    Someone essentially help to make seriously articles I would state. This is the first time I frequented your website page and so far? I surprised with the research you made to make this particular post incredible. Great activity!

  62. says

    Thank you, I’ve recently been looking for info approximately this subject for a long time and yours is the best I have discovered till now. However, what concerning the conclusion? Are you positive about the supply?

  63. says

    It’s appropriate time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I want to suggest you few interesting things or advice. Perhaps you could write next articles referring to this article. I desire to read even more things about it!

  64. says

    Howdy very nice site!! Man .. Excellent .. Superb .. I’ll bookmark your website and take the feeds also¡KI am glad to search out a lot of useful information here within the publish, we’d like work out more techniques in this regard, thanks for sharing. . . . . .

  65. says

    Terrific paintings! That is the type of information that are supposed to be shared around the internet. Shame on Google for no longer positioning this publish higher! Come on over and consult with my site . Thank you =)

  66. says

    Nice read, I just passed this onto a colleague who was doing some research on that. And he actually bought me lunch as I found it for him smile Thus let me rephrase that: Thanks for lunch!

  67. says

    I have been surfing online more than 3 hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my opinion, if all site owners and bloggers made good content as you did, the net will be much more useful than ever before.

  68. says

    You really make it seem so easy with your presentation but I find this matter to be really something which I think I would never understand. It seems too complicated and extremely broad for me. I’m looking forward for your next post, I’ll try to get the hang of it!

  69. says

    I intended to put you that bit of remark in order to say thanks a lot the moment again for all the remarkable tactics you have documented in this article. It is quite remarkably generous with people like you to provide extensively all many individuals could have offered for sale for an e-book to help with making some money for their own end, precisely since you might have tried it in the event you desired. The tricks additionally acted to provide a good way to fully grasp other individuals have the same eagerness really like my personal own to know the truth good deal more in respect of this matter. I am sure there are many more enjoyable moments in the future for those who start reading your site.

  70. says

    I in addition to my pals were found to be examining the nice helpful tips located on your web site and so the sudden developed a terrible suspicion I never expressed respect to the web site owner for those secrets. Most of the women appeared to be consequently very interested to see all of them and have now absolutely been loving them. Many thanks for getting considerably accommodating and for making a choice on variety of brilliant ideas most people are really desirous to be informed on. Our honest apologies for not expressing appreciation to you sooner.

  71. says

    What i don’t understood is in reality how you’re not really much more smartly-liked than you may be right now. You are very intelligent. You understand therefore significantly on the subject of this subject, made me in my view consider it from a lot of various angles. Its like men and women are not interested except it is something to do with Lady gaga! Your individual stuffs excellent. At all times deal with it up!

  72. says

    Hello there, I found your site by the use of Google whilst searching for a related matter, your website came up, it appears great. I’ve bookmarked it in my google bookmarks.

  73. says

    I would like to thank you for the efforts you have put in writing this web site. I’m hoping the same high-grade blog post from you in the upcoming also. In fact your creative writing abilities has encouraged me to get my own blog now. Actually the blogging is spreading its wings quickly. Your write up is a great example of it.

  74. says

    Normally I do not learn article on blogs, however I would like to say that this write-up very forced me to try and do so! Your writing taste has been amazed me. Thanks, very great post.

  75. says

    I am not certain the place you are getting your information, however great topic. I needs to spend a while learning much more or working out more. Thank you for great info I was looking for this info for my mission.

  76. says

    Hi, i think that i saw you visited my weblog thus i came to “return the favor”.I’m trying to find things to enhance my website!I suppose its ok to use a few of your ideas!!

Trackbacks

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>