Dr. Patrice Smith Dr. Patrice Smith

The Stage of Practice Ownership No One Talks About

When people talk about practice ownership, the conversation usually centers around two stages.

The beginning.

And the growth phase.

The beginning is full of adrenaline. There’s the leap into entrepreneurship, the excitement of finally building something that belongs to you. After years of training and working within systems someone else created, ownership feels like freedom.

Then comes growth.

Growth is the stage everyone celebrates. More patients. Expanding teams. Increased production. New systems. New marketing strategies. Conferences and podcasts dedicated to scaling.

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Professional Financial Dr. Patrice Smith Professional Financial Dr. Patrice Smith

Why Every Business Needs Solid Systems And How One Tool Helped Me Streamline Mine

This one is for my fellow business owners because I’v been through a few rough patches and figured out a few things along the way. If you’ve ever felt like you’re constantly playing catch-up in your business, juggling customer service, managing a team, handling insurance tasks, running marketing campaigns, and still trying to show up for your clients or patients, you're not alone.

One of the most transformative things I’ve learned as a business owner is this: you don’t just need help, you need systems.

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Professional Financial Dr. Patrice Smith Professional Financial Dr. Patrice Smith

How To Build a Resilient Business

In business and entrepreneurship, success often hinges on the ability to identify and meet a critical need in the market. This becomes especially vital during times of economic uncertainty. Choosing a business model that addresses a real problem and setting up in a location where your services are in demand can be the difference between thriving and merely surviving. This article explores the importance of these factors and offers insights into building a business that can weather economic downturns and remain recession-proof. A need-based business model ensures sustained demand, customer loyalty, and a competitive edge. Choosing a strategic location enhances accessibility, economic stability, and logistical efficiency. By focusing on these critical factors, entrepreneurs can build businesses that are resilient, adaptable, and capable of thriving even in economic turmoil. Embracing innovation, managing costs effectively, and diversifying revenue streams further strengthen the ability to navigate and succeed through economic challenges.

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Professional Financial Dr. Patrice Smith Professional Financial Dr. Patrice Smith

Boost Your Business with Square: Empowering Entrepreneurs with Seamless Payment Solutions

In the fast-paced world of business, staying ahead of the competition and providing convenient payment options for customers is crucial. Square, a revolutionary payment processing platform, has emerged as a game-changer for entrepreneurs and businesses of all sizes. In this blog post, we will explore the numerous benefits of Square and how it can transform your business with its seamless payment solutions.

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Lifestyle & Travel, Professional Financial Dr. Patrice Smith Lifestyle & Travel, Professional Financial Dr. Patrice Smith

7 Things I Learned From Creating a 7-Figure Business

When I first started out in business, I had no idea what I was getting myself into. After years of hard work and dedication, I am proud to say that in 2022 I have achieved 7-figure success. It was quite possibly one of the most challenging yet rewarding goals I have accomplished yet. I spent the last week in 2022 completely spent and exhausted with much time to reflect. From this journey, I have learned a great deal about what it takes to be a successful entrepreneur and millionaire.

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Professional Financial Dr. Patrice Smith Professional Financial Dr. Patrice Smith

Step by Step Guide on How To Set Up an LLC

So you’ve decided to take that next big step and start a business or side hustle. You have your idea, business plan and everything else in place but now need to make your business legitimate. Many small business owners decide to set up an LLC for the liability protection it provides. An LLC, or limited liability company, exists separately from its owners , and the owners are, therefore not personally responsible for business debts.

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Lifestyle & Travel, Professional Financial Dr. Patrice Smith Lifestyle & Travel, Professional Financial Dr. Patrice Smith

Starting a Business When You’re the Stay-at-Home Parent

In many households, being a stay-at-home parent can be more advantageous than employment due to daycare costs, other obstacles, or the simple desire to be more involved in the lives of your younger children. Still, you may feel as though you could be doing more — such as running a business. There are actually many businesses you can operate successfully while being a stay-at-home parent.

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Professional Financial Dr. Patrice Smith Professional Financial Dr. Patrice Smith

Reasons Young Professionals Need a CPA

Spring is usually the time when we talk taxes! But, since 2020 has been an unprecedented year all around, tax time came a bit later this time. Taxes are a necessary evil that is the sobering reality for anyone earning a paycheck. But with each passing filing and with the rising trend of DIY everything, it seems like the younger generation are turning their backs on an accountant and instead trying to do it themselves.

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