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a blog by Chris Barrow

Vacations or Vocation?

I've noticed that I get four variations on a question from those considering practice squats or purchases.

Group A - "I'm thinking about practice ownership and wanted to chat to you about whether you think that would be a good idea for me?"

Group B - "I've decided to open a squat practice for the first time and want to send you the business plan for your opinion and future guidance."

Group C - "I've identified a practice that I want to buy for the first time and I'd like to send over the agent's prospectus and/or the accounts for you to take a look at and give me your opinion on the opportunity and the price."

Group D - "I already own a practice(s) and now want to expand into further locations through squat or acquisition and I'd like you to review my business plan or agent's prospectus/accounts and give me your opinion on the opportunity or the price."

My response to Group A is always:

  1. Do you realise that practice ownership is the toughest ultra-marathon you will ever enter? The equivalent of a newborn baby that never sleeps and never stops crying? That you are never-not the owner? That you live, eat, sleep and breathe the business. That your kid's teachers think your spouse is a single-parent? That ownership isn't a job, it's an all-embracing monster?

  2. Do you want your future life to be about your vacations or your vocation?

  3. Contact me again when you have joined Group B or Group C.

My response to Groups B, C & D is always:

  1. Send me the numbers.

I have two house rules (and I recognise that what I'm about to say could bring me a lot of work - but here goes.....):

  • I never charge for my initial opinion - whichever Group you are in, my first Zoom call and my first opinion on your plan or numbers is complimentary;

  • I never charge Groups B & C for my guidance through the process of getting the business opened or bought;

  • I'll take the risk that, when and if you get the keys (and start to generate revenue), you will then hire me as your business coach;

  • Group D can pay - because they can.

Would it surprise you to know that the majority of Group A calls never come back?

Either because they don't like my home truths, they don't like me or they never take action - I'll leave you to decide which.

Thankfully, Groups B, C & D keep me busy - I'll be happy to take your call and see if I can help.

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