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I own a small practice, and 2 percent to 4 percent of the gross won't support a manager. So how can I get the necessary help for such issues as personnel, financial, and facilities management?
I own a small practice, and 2 percent to 4 percent of the gross won't support a manager. So how can I get the necessary help for such issues as personnel, financial, and facilities management?
Tom A. McFerson, CPA
Hire a consultant to assist with these areas, recommends Tom McFerson, CPA, an accredited business valuator and a partner with Gatto McFerson in Santa Monica, Calif. He says you can expect the fees to be about 4 percent of gross. "A good consultant will assess these areas; identify existing or potential problems; create solutions; and, most important, train staff members to help with these issues going forward.
"The consultant's time will be heavy at first but will decrease as the staff members step forward. Eventually, your team will handle the management issues you're concerned about," he says.
