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MODULE 2 - Private Practice Basics: Setting Up Your Business

 
 

Section 1: Setting Up Your Business (Part 1)

Starting a business requires setting up the necessary foundation and basic infrastructure to ensure you are legally protected moving forward. Let’s step through the most straightforward part about starting a private practice: the actual logistics of forming a business.


Section 2: Setting Up Your Business (Part 2)

Once you’ve gone through the steps outlined in Session 1, you are all set up with a legitimate business!  However, there are still a few loose ends to tie up before you start taking clients, so let’s go ahead and discuss what’s left.


Session 3: Office Location

The next big decision you will have to make for your practice is your office location. Location is important because that factors greatly into how your initial customers can find you, and how often your existing customers visit. You want to be wherever your customers are and make it as convenient as possible to visit you.


Session 4: Managing Your Finances

Before we discuss establishing a bookkeeping system, it’s helpful to understand exactly what bookkeeping is, and how it differs from accounting. Bookkeeping is the day-to-day process of recording transactions, categorizing them, and reconciling bank statements. Accounting is a higher level process that looks at the business’ overall progress and will make decisions based on all the information collected by the bookkeeper. You will need both, but may decide to reach out to a professional.