Episode Details

In this episode, Barbara and Jessica discuss:
-What factors to keep in check when buying a business
-Getting the Most For Selling Your Business—a book written by Jessica Fialkovich
-How to determine your business’ worth

Key Takeaways:
” Every Practice Has A Value!” – Jessica Fialkovich.

Connect with Jessica Fialkovich:
Website: https://www.exitfactor.com/
LinkedIn: https://www.linkedin.com/company/exitfactor/
Instagram: https://www.instagram.com/exit_factor/
Twitter: https://twitter.com/exit__factor
Facebook: https://www.facebook.com/exitfactor

Connect with Barbara Hales:

Twitter:   @DrBarbaraHales
Facebook:   facebook.com/theMedicalStrategist
Business Website: www.TheMedicalStrategist.com
Email:   Barbara@barbarahalesmd.com

YouTube: https://www.youtube.com/TheMedicalStrategist
LinkedIn: www.linkedin.com/in/barbarahales

Books:

Content Copy Made Easy
14 Tactics to Triple Sales
Power to the Patient: The Medical Strategist

TRANSCRIPTION (131)

Dr. Barbara Hales: Welcome to another episode of Marketing Tips for Doctors.

I’m your host, Dr. Barbara Hales. And today, we have with us Jessica Fialkovich. She is the founder of one of the top experts in the business brokerage industry, Exit Factor. This offers a proven method that helps small to mid-sized business owners and medical practices the opportunity to maximize their company’s value.

Through one-on-one consulting services and online programs, the trusted advisors at Exit Factor teach entrepreneurs how to successfully navigate and fully leverage strategies when buying, building, and selling their businesses. This is a service I’m sure we all could use. Exit Factor is part of the consulting division within the United Franchise Group Family of brands.

This is related to the United Franchise Group, which is home to an affiliated family of brands and consultants, including Accurate Franchising Inc., Exit Factor, Franchise Mart, Fully Promoted, and several more worldwide. It’s in more than 60 countries. This is extremely interesting and valuable, so you may want to take notes today.

Welcome to the show, Jessica.

Jessica Fialkovich: Oh, thank you so much for having me, Barbara.

Dr. Barbara Hales: When people decide to buy into a business instead of going into a conglomeration or working as an employee at the hospital, how do they decide on buying a business? What goals should they have, or what guide should they?

Jessica Fialkovich: When you’re deciding whether to buy a business or not, I think the biggest decision you need to make in deciding factor is whether you want that ownership seat or not. And I think many employees and workers feel like they want ownership. But always the upside of ownership.

“I wanna make money when the hospital group makes money, and I wanna make money when the business makes money.” But there is an element of risk and accountability as an owner that’s not appropriate or desirable for everyone. I find that’s the biggest deciding factor for people when they’re deciding, they’re trying to vet whether they want to be a business owner or not.

Because that’s what it comes down to is, yes, there’s upside in ownership, but there’s also risk and liabi