Welcome to the Planning for Practice Success Newsletter

Practice Startup Success
Information Advice Encouragement

March 19, 2007
ISSN 1934-3248

You are not happy because you are well. You are well because
you are happy. You are not depressed because trouble has come
to you, but trouble has come to you because you are depressed.
You can change your thoughts and feelings, and then the outer things will come to correspond, and indeed there is no other
way of working. Emmet Fox

In this issue:

Destination Success is coming - March 31 Buying out an LLC Lease rates and calculations Check out my BLOGS

RE: Emmet Fox and Destination Success. Emmet Fox (1886-1951) was a popular minister, writer and speaker in what was called the 'New Thought' movement. Today he might be likened to Bob Proctor or others who are talking about 'The Secret.' If you saw 'The Secret' on the Oprah show you'll know what I'm talking about. If you didn't, read more about 'The Secret' on the dcpracticesuccess website www.dcpracticesuccess.com/thesecret

Here is another example of Emmet Fox's wisdom:
As soon as you know the Truth and take your thinking in hand, if you are steering correctly, you can find the true place for you, you can be what you want to be, you can do what you want to do, you can have what you want to have. Your thinking is directed. You are no longer drifting in the breeze, you are directing your thinking.

I would urge you to spend the day in Davenport on Saturday, March 31 at Destination Success. I will have a vendor booth there, but I'm hoping to spend most of my time listening to the great speakers. I truly believe that your thoughts have the power to enable you to create the life, and the practice, you want. Come to Destination Success and find out how! Register at www.palmerdestinationsuccess.com ($40).

LLC buy-out how-to: Someone recently asked about buying out an LLC. If it is a single-member LLC, it should be fairly easy.
You would set up your own structure and the other LLC would be dissolved. With a multiple-member LLC, it's a little more tricky. You'll need to see the operating agreement to find out how dissolution is to be handled. The easiest way to buy one member's share is through a purchase agreement. You will construct a separate agreement after negotiating the amount and the timing of payments to the member. This is one of those occasions where an attorney is a must.

Lease rates and calculations. Lease rates vary between $7.50/sq. ft. (told to me recently by someone going to a very small town) to $40 a square foot in a place like Chicago (another recent discussion). Most medium sized cities would have lease rates around $20 a square foot (including CAM).
Multiply the rate times the square footage to get the annual rate, and then divide by 12 to get the monthly amount. (CAM is 'common area maintenance' which adds in space for walkways, hallways, other parts of the building that are not part of your office but that the landlord wants you to help pay for.)

Jean's BLOGS - Ok, I admit I'm getting addicted to blogging.
I've created THREE of them, each one with a different focus:

The first (and oldest) is 'Jean @ Planning for Practice Success' (http://www.jeanp4ps.wordpress.com). This one I now use for general motivational and practice development ideas. I used it for several months for practice startup, so it has a lot of useful information on it. One day, I'll bring it over to my web site.

The second is www.professionalpracticesuccess.blogspot.com .
It has information for those already in practice, and focuses on marketing, financial, and practice management advice.
The third is www.practicestartupsuccess.com . This is the most important one, because it contains all of my best stuff on practice startup.

If you want to get information on startup, check either the Wordpress or 'practicestartupsuccess' blog. Post a comment (you will be the first ) and happy blogging!
_____________________________________________________

Ask Dr. Jean Murray a question: email her at jean@professionalpracticesuccess.com
Order Planning for Practice Success or one of our other
products or call our toll free number at any time (24/7): 1-866-940-7526

Best wishes for your continued success,

Jean Murray
Planning for Practice Success
Online at http://www.dcpracticesuccess.com

The most absurd and reckless aspirations
have sometimes led to extraordinary success.
-- Vauvenargues

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