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Where’s the next step for you to take to go with your vision for your future? Why should you prepare as if you were selling your practice even if you don’t want to? Which basics do you need to have in place?
In this podcast episode, LaToya Smith speaks about how to sell your practice with Gabrielle Juliano-Villani.
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Meet Gabrielle Juliano-Villani
Gabrielle Juliano-Villani is a licensed clinical social worker, consultant, coach, entrepreneur, and educator based in Sarasota, FL. She has been in the mental health field for over a decade specializing in stress, chronic health conditions, and trauma. After realizing her own burnout in 2021, she sold her thriving group practice and made it her mission to educate others on the impact stress has on our everyday lives.
Gabrielle pulls from her experience as an EMDR and Polyvagal Informed therapist to utilize mind/body approaches to help others implement everyday strategies to manage stress and live their best lives. Gabrielle is an international speaker, and retreat leader, and has been featured in Authority Magazine, The Daily Om, Bustle, and the Everyday Woman TV Network. When she’s not working, Gabrielle is teaching Zumba, surfing, or reading a psychological thriller at the beach
Visit Gabrielle’s website and connect on Instagram, TikTok, LinkedIn, and YouTube.
In This Podcast
- Take stock, reassess, and take the next best step
- Reasons to sell your practice
- The basics process of selling your practice
Take stock, reassess, and take the next best step
Think of your whole life and what you want it to look like. This is just the stepping stone to get you to the next chapter. (Gabrielle Juliano-Villiani)
It is easy to get stuck in the nitty-gritty of daily life, and not take enough time to check the direction that you are going in. You may start with a dream for yourself and your business, and five years in you could still be pushing and working but feeling less and less fulfilled, which pushes you to try more.
The thing is, this could also lead to burnout because perhaps this dream that you had is no longer representative of who you are today. You can – and need – to take stock once in a while to make sure that your efforts, energy, and money are going into the funnels that are pushing you toward a future that you actively want.
If it doesn’t align with where you’re going … It’s okay if the trajectory where you’re going shifts. It’s okay to go with the flow and not hang onto something because [of] pride. (LaToya Smith)
Reasons to sell your practice
There are loads of reasons why you could be selling your private practice, such as if:
- You were retiring
- You are burnt out
- Your lifestyle changes
- The dream no longer aligns with your current stage of life
The basic process of selling your practice
The process of selling can take anywhere from six months to a year, or even a year and a half. Even if you think that you never would sell your practice, it is still vital – and very helpful – for you to keep everything organized as it should be, because minor paperwork that gets lost can cause issues down the line, whatever you decide to do.
Even if you never want to sell, you should always act as if you do because it will make you much more organized, streamlined, and efficient and profitable. (Gabrielle Juliano-Villani)
- Your books need to be up-to-date and clean
- Any contracts are up to date and easily found
- Legal paperwork together
Additionally, make sure that you have a lawyer with you from the very beginning, as well as an accountant who has skill in these kinds of transactions. An accountant can also help you to confirm whether your practice is profitable and has projected growth, which is necessary to know when selling your business.
Useful links mentioned in this episode:
- What’s your phase of practice? Click here to get full access, totally free!
- Visit Gabrielle’s website and connect on Instagram, and TikTok.
Check out these additional resources:
- Group Practice Boss: www.practiceofthepractice.com/grouppracticeboss $149 a month
Meet LaToya Smith
LaToya is a consultant with Practice of the Practice and the owner of LCS Counseling and Consulting Agency in Fortworth Texas. She firmly believes that people don’t have to remain stuck in their pain or the place they became wounded. In addition to this, LaToya encourages her clients to be active in their treatment and work towards their desired outcomes.
She has also launched Strong Witness which is a platform designed to connect, transform, and heal communities through the power of storytelling.
Visit LaToya’s website. Connect with her on Facebook, Instagram, Strong Witness Instagram, and Twitter.