foundational strategic plan outline for practitioners starting out. go to www.buildyourbusinessqi.com for more resources to build your business

1. Strategic Planning -
Building the Foundation of a
Successful Clinic Practice
AAAOM Conference.
Chicago, Illinois October 18, 2008
2:00PM to 6:00PM
Lani Anderson L.Ac.
www.BuildYourBusinessQi.com

2. Course Overview
Business Plan vs Strategic Plan
Goals
Financial
Specialization
Essentials
Self promotion (marketing introduction)

3. Business Plan vs
Strategic Plan
 Investment (pitch problem solution)
 Elements these plans share
– Executive summary
– Mission, values
– Goals
– SWOT
– Plan of action (3-5 year)

4. Components of a Strategic Plan
 Executive Summary, Introduction
 Mission, Values
 SWOT
 Road map to achieving objectives

5. Business Plan Components
 Executive Summary
What is your Business? Problem
 Current business situation (ownership)
 Successes and Capabilities (mojo)
 Opportunities and Risks
 Competition and Market
 Marketing plan
 Implementation schedule
 Financials (include requirements)

6.  Executive Summary Sample
 Introduction
 Product/Service
 Target Market
 Competitive Position
 Goals and Objectives
 Management
 Finances

7.  Executive Summary Sample
 Introduction
TCM Inc. was founded in 1998 as a Clinic treating
Children with asthma allergies. We have a proven track
record of pediatric expertise. We have helped several
hundred children breathe better.
We are focused on improving the health of Children
ultimately, helping them to participate in sports and other
activities that they otherwise would not be able to.

8.  Executive Summary Sample Continued
 Product/Service
Our services include acupuncture, tui na and specially formulated
medicinals tailored to each patient’s individual needs.
We offer a series of educational e-books to enable parents
to understand the treatments their children will be
receiving.
We hold patient education nights once a month and have
special outdoor clinics to help patients understand and
manage their condition in real outdoor settings.

9.  Executive Summary Sample Continued
 Target Market
Our customer base includes primarily school aged children
between the ages of 6 and 18.
We target the parents of our target client as well as team sport
venues and services.
We are currently developing a strategy to target High School
students directly.

10.  Executive Summary Sample Continued
 Competitive Position
Our specific niche of patients realizes the need and desire to
improve their health naturally thereby allowing them to be
active in sports and other activities that they might not have
been able to participate in with asthma or allergies.
Research indicates that Americans are becoming more
conscious of the health of Children, in particular in areas
related to asthma education.
Research shows that more people are turning to alternative
medicine to help them treat conditions that occidental
medicine has only managed to treat or suppress the
symptoms of.
Americans are spending more on alternative health care
than ever before and insurance companies are beginning to
cover non-traditional treatment modalities given the patient
demand.

11.  Executive Summary Sample Continued
 Goals and Objectives
TCM Inc. niche market is the reason we are working to provide a
valuable product and service.
Within 12 months we intend to have more downloadable e-books
and 2 educational meet and greets in our office.
Within 2 years we will have in place networking and support group
opportunities for our patients and their parents.
Within 5 years we plan to add more targeted focus at athletic
events and practice fields. We plan to include swimming pools
parks and gymnasiums. At this point we have a massive list of
coaches and facilities offering sports to youth. We plan to include
High Schools in our focus. We have begun to build the
relationships with the local School District and are receiving positive
feed back on our proposals thus far.

12.  Executive Summary Sample Continued
 Management
(In this section you should add the names and the titles of your
management team. If you are a corporation you should include the
President, Vice President, the key share holders and so on.
You may also include their knowledge and their experiences. This
should take a form similar to a resume.)
Mary Ann Spitz L.Ac. President
Mary Ann has been working as a Doctor of Oriental Medicine for 10
years, specializing in the treatment of childhood asthma. She has
written articles alternative treatments for asthma in Child Magazine
and Teen Sport Magazine.
John Clayton L.Ac. Vice President
John is a Doctor of Oriental Medicine and physical trainer. John
has designed programs for young people to help them manage
lung related illnesses and conditions. He has written numerous
articles on body mechanics and athletic enhancement.

13.  Executive Summary Sample Continued
 Finances
TCM Inc. practice has done well thus far and we
see a need in the market to expand our services
to other communities.
The primary areas we are looking to expand in
are Elgin, Oak Park and Waukegan.

14. Business Plan Components
 Executive Summary
What is your Business? Problem
 Current business situation (ownership)
 Successes and Capabilities (mojo)
 Opportunities and Risks
 Competition and Market
 Marketing plan
 Implementation schedule
 Financials (include requirements)

15. Business Plan and
Strategic Plan
 Elements these plans share
– Executive summary
– Mission, values
– Goals
– SWOT
– Plan of action (3-5 year)

16. Components of a Strategic Plan
 Executive Summary, Introduction
 Mission, Values
 SWOT
 Road map to achieving objectives

17. SWOT
 Strengths
 Weaknesses
 Opportunities
 Threats

19. Mission statement
 This statement defines your purpose in
a simple phrase.
 It reminds you of your purpose.
 You may have individual and business
mission statements.

20. Write your personal mission
statement

21. Write your business mission
statement

22. Goal
 How big do you want to be?
 Where do you want to practice?
 Sole proprietor vs partnership vs Corp?
 Specialization
– What do you love to do?
– Who do you love to serve?
 Your team

23. SMART Goals
If a sailor knows not what harbor he seeks any
wind is the right wind
If you don’t know where you are going, how
will you know when you get there?
 Specific
 Measurable
 Attainable
 Realistic
 Timely (tangible)

24. Financials
 How big your practice will be depends
on how much money you need to
generate to live.
 People often make the mistake of
“living within their means” either
because they work for someone else or
they accept what ever business comes
their way.
 Know what you need to make.

25. Where do you want to hang
your shingle?
 Sometimes you’ll have flexibility on this
decision, sometimes you won’t.
 You will need to know where your first
office will be in order to obtain proper
figures for your financials.
 If you don’t know for sure where you
want to be, run the numbers on a few
areas and see what makes sense for
you.

26. Some things to consider
regarding location
 How many Acupuncturists are there in the area?
 What do they charge for their services?
 Are there enough of your target market in the
area you are considering?
 Do most of your potential patients have
insurance or will they pay out of pocket?
– If insurance is an issue, is Acupuncture covered and
what details do you need to know about TCM
providers?

27. Type of Entity
 You’ll need to know what kind of legal
entity you will be before you calculate your
financials.
 Besides Sole proprietor and partnership
you may consider C and S Corporations.
 Consult a good lawyer and tax accountant
to be sure you understand each entity
before you decide what to do.

28. Some things to consider about
entities
 Sole Proprietor
– Owner pays taxes as individual
 Partnership
– Partners pay taxes as individuals
 Corporation
– C Corporation
 Could see double taxation (dividends)
– S Corporation
 Taxliability passes through to
shareholders/owners

29. Additional considerations
about your business structure
 Know what business licenses are necessary
in your City.
 Obtain a resale tax certificate if you will be
selling products.
 Be sure your type of business is allowed
under the zoning laws for the area you are
trying to set up a practice in.
 Be certain you adhere to permit
requirements for your build out and signage.
 If you will hire employees, know the laws
pertaining to employees.

30. Specialization
 Who is your ideal client?
 What do you love to do?
 When thinking about your specialty you
must consider these two important
points.

31. Essentials
 Direct contact with your target market
 You
 Brochure
 Business cards
 Web site
 Follow up routine

32. Components of your web site
 Web site formats to consider
 What your web site should contain
 Clear name that lets your target market know
what it is you do
 Contact information
 List of services
 Call to action

33. Components of your web site
More details to consider
 Newsletters
 Blogs
 Web sales
 Opt in /Qualified potential clients
 Auto-responders
 SEO (search engine optimization)

34. Introduction to Self Promotion
Module 2 Building Credibility
 Marketing your service business
 Do your potential clients trust you?
 The marketing pyramid or funnel
 How best to sell yourself and your services
– Writing
– Networking
– Speaking

35. Final Thoughts Q&A
Lani Anderson L.Ac.
www.buildyourbusinessqi.com
TCM ON Point™
Building your Business Qi™
Module 1 teleseries©