Melissa J. Lockwood, DPM, FACFOAM

AAPPM Trustee

ABPM Brand Ambassador

» A Wife

» A Mother

» A Business Owner

» A Podiatrist

» We each need to define that for ourselves ˃ Definiteness of Purpose – Napoleon Hill

» Not Everyone can be a small business owner

» BUT ANYONE who wants to be one CAN become a successful small business owner.

» What is “Private Practice” in the 21st Century? ˃ Solo Practice

˃ Group Practice

˃ Multi-Specialty Practice

˃ Hospital/Medical Group Based Practice

» No matter what pathway we chose in life, we need to be able to look at our personal limitations and WORK to overcome them.

» Know and cultivate a game plan!

» 4 Key Things to Consider ˃ Adversity To Risk

˃ Ability To Lead

˃ Support System

˃ Unique Challenges

» How you FEEL can make or break how much you accomplish!

» Can you handle the risks and benefits of ownership?

Risks Benefits

• No safety net • Large financial investment • Large emotional

investment

• Immediate Equity • Future financial Security • Entrepreneurship

» Take a HARD look in your personal mirror ˃ Can you objectively lead a group of people with a clear vision and

purpose?

» Spouse

» Family & Friends

» Colleagues

» Mentor(s)

» State and National (APMA) Resources

» AAPPM

» Other Income

» SOLO Practitioners/Practice Owners ˃ Coverage for Vacations

˃ Expansion

˃ Exit Strategies

» Questions?

» Comments?

» Melissa J. Lockwood, DPM ˃ mlockwood@aappm.org