Did you know there are good fears and bad fears? There are fears that hold you back and fears that keep you safe. And then there are also fears that can be mitigated and, a lot of times, erased if you just did a little digging and self-exploration.
I know a bit about all of these types of fears and have experienced them on many levels while being an attorney, founding Functional Lawyer, and starting a functional medicine practice with my wife. I left a very secure job at a well-paying law firm in a big, fancy downtown high rise in order to found Functional Lawyer, and I'm aware of the fear that entrepreneurs encounter every day. It's a really scary world out there.
However, I have learned that there's good fear, and there's bad fear, and both can be relevant to you as functional medicine providers. Recently, in 2021, I spoke with a provider who had been leasing an office for two years. And because she was so afraid of putting herself out there due to legal risks...
Today at Functional Lawyer, we are talking about professional corporations, professional LLCs, and other professional entities. What are they? How are they different from regular corporations? Are there any specific naming rules that you have to follow? I will be covering a variety of licensing questions, some protections for you against malpractice, and some taxation rules as well.
Firstly, a professional corporation is a corporation that is formed by licensed professionals whose company’s purpose is to provide the service that they're licensed to practice. To put it simply, it is a group of licensed professionals forming a business.
One of the first things to consider is the naming conventions that are in play when forming a corporation. Most states’ rules vary a little bit here, but at the very least, you may be required to have the initials “PC” for a professional corporation,...
Today I'm talking about how to get a handle on and take charge of the financial cash flow of your business so that money, specifically cash flow of money, isn't a stress point or something that you avoid in your practice.
Now, I've seen this consistent concern from numerous doctors in my Functional Lawyer Membership and in general conversation with other doctors: cashflow is a stressful part of running a business. This is very common with small business owners, and I’ve seen it firsthand at Functional Lawyer and through my wife's functional medicine practice.
Today, I have a recommendation that will help you take charge of your cash flow so that you're not in a place where you're unsure if you can pay bills this month or worried that there's not going to be enough money at the end of the month for you to pay yourself.
The tool that I recommend, and this is a system that I've implemented at Functional Lawyer because it works so well at Origins...