From a business and financial perspective three distinct phases of clinic life exist. The first phase is getting a clinic, the next is running the clinic and the final phase is exiting the clinic.

1. Getting a clinic

Becoming a clinic owner allows you to play the Game of Money as a business owner and that gives you access to a set of financial strategies not available to employees. These financial strategies will allow you to win the Game of Money – that is if you know them and you actively choose to implement and use them!

2. Running a clinic

This phase of clinic life is very important from a financial point of view simply because this is where you as a clinic owner create the positive cash flow and the profit necessary to save and later invest. Your goal should be to have accumulated enough investments for your return on these investments to cover your living expenses - and, hence, for you to be financial independent. For this to happen you need strategies for effective evidence based clinic management, tax optimised private spending and rational investing.

3. Exiting a clinic

The most important element in this phase of clinic life from a financial point of view is the actually selling of your clinic. As a matter of fact, selling your clinic is probably the single most important sale in your professional life. A successful sale requires detailed planning, flexibility and creativity with respect to terms, and of course good negotiation skills. Unfortunately, most clinic owners sell only once and, hence, do not develop the experience and skills needed to secure an optimal sale - and the help of accountants and lawyers is definitely no guaranty of getting the right price.