partnership - theory & practice

[Guest guest]

Hello dear colleagues,

 

I'm entering into a partnership with a couple of other practitioners,

and even though this business model is common among service

professionals (e.g. dentists, lawyers), I'm finding very little

information on how such partnerships look on the inside (i.e. the

nitty gritty details of legal structure, financial agreements,

day-to-day operations, etc.)

 

I've done business plan homework; I guess I'm looking for the wisdom

of other folks in my own field - their ideas, experiences, etc.,

specifically about partnership. So: any partners out there? Anyone

who wishes they were in a partnership, or wishes they weren't? (I know

I can't be the only one that finds that the isolation of sole

proprietorship can outweigh the independence.)

 

And just to let you know where I'm coming from philosophically, my

dream practice would be a collective/cooperative. I know, being

trained as we are (at least in the U.S.) to be so competitive and

weird from day one, that it would be hard to find other folks with the

skills/desire to set things up that way, and I'm fine with compromising.

 

Any advice welcome.

 

Thanks,

Nora

[Guest guest]

In any sort of partnership you enter into, make sure that you have everything

covered. It is worth getting a lawyer to go over it all as well. I started a

venture with a friend a few years ago. She started letting her husband get more

and more 'involved' with the running of the business. Things went rapidly

sideways, as he had a very different idea of how to do things, and proceeded to

sink the business. I bailed quickly and while the friendship died, I was saved

financially.

 

- Mark

 

> Hi Nora,

> I'm wondering why it is you'd want to join a legal and financial partnership

> when a sole-practitioner practice in a clinic with other sole-practitioners

> can work beautifully without the entanglements. I've practice 8 years in

> my clinic with 4 other practitioners (chiro and massage) and we are all free

> to go at any time, keep our money and business separate and work on the same

> patients, share patient info, etc. The only disadvantage I've ever

> experienced is that patients have to write separate check for various

> services.

>

> Barb

[Guest guest]

 

Chinese Medicine

Chinese MedicineOn Behalf Of Nora

Madden

Wednesday, March 29, 2006 8:52 PM

Chinese Medicine

partnership - theory & practice

 

 

Hello dear colleagues,

 

I'm entering into a partnership with a couple of other practitioners,

and even though this business model is common among service

professionals (e.g. dentists, lawyers), I'm finding very little

information on how such partnerships look on the inside (i.e. the

nitty gritty details of legal structure, financial agreements,

day-to-day operations, etc.)

 

I've done business plan homework; I guess I'm looking for the wisdom

of other folks in my own field - their ideas, experiences, etc.,

specifically about partnership. So: any partners out there? Anyone

who wishes they were in a partnership, or wishes they weren't? (I know

I can't be the only one that finds that the isolation of sole

proprietorship can outweigh the independence.)

 

And just to let you know where I'm coming from philosophically, my

dream practice would be a collective/cooperative. I know, being

trained as we are (at least in the U.S.) to be so competitive and

weird from day one, that it would be hard to find other folks with the

skills/desire to set things up that way, and I'm fine with compromising.

 

Any advice welcome.

 

Thanks,

Nora

 

 

 

 

 

 

 

 

 

 

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