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(p. 117) Developing a Business Plan 

(p. 117) Developing a Business Plan
Chapter:
(p. 117) Developing a Business Plan
Author(s):

Jesse Fairchild

DOI:
10.1093/med:psych/9780190272166.003.0010
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date: 20 September 2017

To be successful, private practitioners must take a thoughtful approach to establishing and running their business. This chapter explains the valuable role that a well-thought-out business plan can play in a private practice. It outlines the elements of a business plan for a private practice and explains how thoughtful consideration of each can affect the viability and success of the business. The author discusses the importance of setting goals and using one’s guiding principles, vision statement, and mission statement when preparing all aspects of the business plan. This chapter reviews the basics of a business plan, including a marketing plan, an operational plan, and a financial plan, and provides real-world examples for developing each of these organizational building blocks.

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