Danielle Clear of Omaha, Nebraska dreamed of opening her own chiropractic practice since the beginning of her career as a doctor of NUCCA chiropractic. Owning her own practice would allow her more freedom in her day-to-day operations and interactions with her patients.
When an opportunity presented itself to branch out on her own, she decided it was time. Her prior contracts were up and she was able to establish an independent practice, as long as she could put together the right business plan.
-Danielle Clear, Chiropractor and Owner of Unity Chiropractic
It was time to begin her journey as a start-up business owner, and Danielle had received advice from several people who helped her gain the confidence needed to take those first steps to writing her own future. One such individual was Mary Ferry of Advantage Insights, someone Danielle knew she could count on for sound financial direction.
Start-ups don’t have it easy when it comes to projecting budgets. As laid out in The Advantage Insights Guide for Startup Success, new business owners need to do their homework to accurately establish how much income they can expect to bring in and what their costs will be.
Danielle knew how to take care of people. She had already been successful as a practitioner of NUCCA, as evidenced by the healing and relief she brought to her patients. In starting Unity Chiropractic, she challenged herself to learn a whole new set of skills, all related to running a business.
“Going in, I didn’t have enough planning. I didn’t know the beast that I was conquering… So when I first started talking with Mary, it was so helpful having her help with the financial part of it.”
-Danielle Clear, Chiropractor and Owner of Unity Chiropractic
Danielle Clear understood that consulting with someone experienced in projecting budgets would be necessary for her early success and peace of mind. Having met Mary two years prior to starting her business, Danielle knew who to call.
Consulting with Advantage Insights helped Danielle define clear goals for her business, and build financial projections based on comparable market research and services she planned to provide. With these projections in place, Mary helped Danielle determine a path to profitability for Unity Chiropractic.
Unity Chiropractic had a business plan ready to produce the results Danielle Clear wanted, but she still needed to institute sound financial practices in order to make it all work. Part of what led Danielle to work with Advantage Insights was the confidence Mary brought to instituting smart processes for collecting payments, tracking expenditures, and making large purchases.
“I just knew that she was somebody I wanted to work with because she had the same vision for business that I did.”
-Danielle Clear, Chiropractor and Owner of Unity Chiropractic
Based on Mary’s recommendation, Unity Chiropractic set up credit card processing using a method that reports all payments directly to QuickBooks--this saves time and guarantees income reporting accuracy.
Another aspect of Advantage Insights’ services that Danielle appreciated was how her record-keeping and communication all took place within cloud-based applications. She was used to being able to access her information from anywhere, and cloud-based reporting practices allowed her to submit receipts as soon as she received them.
Professional experience in creating budgets helped Mary ensure Danielle wouldn’t encounter any unexpected costs. Based on those budgets and projections, processes were implemented and appropriately adjusted as time went on. Comprehensive budgeting and reporting will allow Danielle to know when it’s the right time to hire, buy equipment, rent another space, or even invest in her own building.
Even as the COVID-19 pandemic and subsequent sheltering slowed her business to a halt, Danielle could see the precise impact this would have on her bottom line, and plan accordingly. Advantage Insights helped Danielle Illuminate complex data, reflected the financial health of her business, and made it possible for her to adapt to changes with confidence.
Before meeting with Mary, Danielle considered financial practices to be her weak point. Even though she didn’t enjoy thinking about that aspect of the business, learning how to manage her finances has helped her focus on the real reason she got into chiropractic medicine: helping people.
There’s plenty to consider for anyone who has decided to launch a start-up. What products and services will you offer? What demand will you meet? Once you’ve determined your place in the market, how will you get the word out about your business? None of these aspects of planning can be done well without proper financial projections and a profitable business plan.
Though it seems fundamental, many don’t consider the ins and outs of their financial records and processes until it’s too late. Danielle Clear of Unity Chiropractic knew there was someone she could count on to help her learn about these aspects of her business and provide direction in future financial decisions.
According to Danielle, Mary helped her better understand a realistic rate of growth for her business.
“Talking to Mary and getting these things laid out, it helped to ease my mind.”
-Danielle Clear, Chiropractor and Owner of Unity Chiropractic
If Danielle needs to make a large equipment purchase, repair, or hire, she now has the information necessary to be confident in her decision. Advantage Insights provides Danielle monthly reports and revises annual budgets on a quarterly basis to adjust for changes in the market or Unity Chiropractic’s financial situation.
The early months and years of a new business are crucial to its long-term success. With realistic projections and an actionable plan, you can achieve your business goals. It’s simple--start-ups who can make it past their first few years do so by having all the relevant financial information available to them so they can make the right decisions and avoid the wrong ones.
Danielle Clear of Unity Chiropractic started her own practice so she could make a positive impact on her community.
“With Mary’s help, I’m able to focus on patients’ cases. I’m able to follow up with patients. And I’m able to do the fun parts of owning a business.”
-Danielle Clear, Chiropractor and Owner of Unity Chiropractic
And if there’s one thing Danielle could tell aspiring business owners, it’s this: The financial aspect of your business is not something you want to handle on your own. If you consider the potential cost of learning these processes without professional support, investment in financial advisory services becomes a no-brainer.
Through their Entrepreneur Advisory services, Advantage Insights offers programs specifically tailored to help start-up businesses understand their finances, create projections, and implement processes that will shed light on everything they do. As owner of your business, you decide what service level is appropriate for your needs, and Advantage Insights will build a program that will serve you best as your business grows.
If you’re interested in gaining the same kind of clarity and peace of mind offered to Danielle Clear of Unity Chiropractic, consider exploring Advantage Insights Entrepreneur Advisory and Bookkeeping Services.
To learn more, contact Advantage Insights. Call 402-281-3785 or email info@youradvantageinsights.com and find out what financial clarity can do for you.
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