Share The Experience: Interviews With Business Owners - Dr Michael Howell
Every business has a beginning, and that beginning can be both rewarding for it's owner and a struggle at the same time.
For Dr.
Michael Howell of Stuart Walk-In Care in Stuart, FL.
the journey to owning a business was one of many trials and tribulations.
From struggling to find funds to failed advertising campaigns, Dr.
Howell struggled to keep his head held high as he worked to make his dream come true.
As with all stories of hardship, there is eventually a light at the end of the tunnel.
After his many falters, Dr.
Howell finally saw his vision take shape and is now the successful owner of his on Urgent Care clinic.
To start off our "Share the Experience" series, we asked Dr.
Howell to answer a few questions to help entrepreneurs and future business owners succeed, he was glad to help out.
With the hope of assisting future business owners, Dr.
Howell answered personal questions about his experiences and shed light on many areas that he never expected to encounter, and shares the aspects of starting a business he wish he would have known.
What is the name of your business and what service do you provide? Stuart Walk in Care & Afterhours, we are an Urgent Care/Family practice facility treating both acute and chronic medical diseases that do not require an ER/hospitalization.
When did you start your business? October of 2010 How long did you prepare or plan to start this business and what steps did you take to do so? I have been saving up and planning to open this clinic since graduating residency in 2009, it took well over a year to save and organize.
I worked for an Urgent Care facility full time, as well as a family pract.
clinic, gained valuable experience, and listed what was a necessity for a successful clinic, then saved up and put it all together.
How long did it take to break even or make a profit? Why? As a solo practitioner my break even point included every expense I have on a monthly basis, not just the business.
For example I have to pay about $2000 month in student loans, plus my insurances, plus Digital xray lease, employee salaries, clinic and apartment rent, with utilities, supplies, upkeep of machinery fax/copy/computers/printer/...
Billing companies, advertising, plus I have to eat at some point on a daily basis.
At six months I am no longer in the red/losing money on a daily basis, but I have not paid myself a salary in over 6 months, been living off my savings, and probably will not see a salary during my first year.
As far as profit goes, by the time I make enough to cover my initial investment and get back to the income I was at before I started this venture, I'm hoping 2 years.
Why did you choose to start your own business? I worked for a hospital and was able to see the revenue generated in an urgent care center, and knew that if I worked hard and sacrificed, that I would be able to make a run of it...
But it takes time and I work 7 days a week at the clinic, plus I admit a rehab facility and do ear cleanings at nursing homes to subsidize my losses with the business until we become more productive.
I like the challenge, and I'm building a better future for my family.
What risks were involved? Were you aware of them at the time or prepared? One risk, that I would not have enough patients to cover my bills, I had made a business plan and was aware of what my reimbursements were and therefore how many patients I'd need to see on a daily basis...
A realistic business plan is a great map to follow, but hard to put together on my first attempt at opening a clinic.
What problems did you run into? Of these problems which was the most critical? My billing company did not have contracts with any insurances at my opening day, apparently I fell through the cracks and my first 2 months I was only surviving on my cash pay patients, but I didn't want to send my insured patients away, so basically I saw them and was only reimbursed by the copay...
I wish I would have went with someone local as well to do my billing.
Try to keep all your business affairs local, its easier to fix a problem, and people are much more willing to work hard for you if you can look them in the eye.
More personal that way.
Also if you use machinery on a daily basis, do not buy cheap.
I bought a copier/fax/printer off of Craigslist and it has been a complete nightmare, and I eventually bought brand new...
My life would have been much less stressful if I would have just paid for quality in the beginning.
Same with BP machines/ekg machines/ etc...
Advertising was a huge cost, when you open a business, everyone in town will knock on your door 24/7 stating they have the #1 way to advertise your business, phone books, internet, fliers, postcards, Moneysaver, condo directories, radio...
And I tried them all and realized that it is all a waste of money.
A huge waste of money.
Just make sure your business comes up on a Google search/mapsearch, then give a good product.
And learn this phrase...
"We are no longer spending on advertising.
Thank you.
" I had zero return on my advertising.
I spent so much on advertising I had to take a SBA loan out to keep my doors open, expecting at least a $1 to $1 return on my advertising investments.
It never came.
I know because I ask every patient when they come in...
"How did you hear about us?" Word of mouth is king in these parts, keep it local, be fair with pricing, care about what you're doing and people will come.
Was there a point where you had to make a go/no-go decision with your startup? When I came across the perfect property, I had been searching towns, facilities, buildings, traffic, competition concentrations, and found one that fit my criteria.
Then I knew it was time to pull the trigger.
Do you enjoy running your business? What are the benefits? The downsides? Long hours, less pay, more responsibility, more personal stress, more family stress, initially...
But I believe that if I keep working hard and keep the patients best interests at heart, then more patients will come and I will be able to increase my revenue, which will allow me to hire a physician assistant to give me time off.
But I love what I do, you have to in order to make all the sacrifices necessary to be successful.
If there was one thing you wish you would have known when you started and didn't, what would it be? The amount of stress that this has put on my new marriage.
Communication would have probably solved 90% the problems that have come from this, so if you're thinking about making a decision that will drastically change your life, make sure your spouse is 100% in agreement and understands that they will have to sacrifice as well.
What recommendations would you have for someone attempting to start their own business? Look at the big picture.
In 10 years I'm going to be 45.
I know this.
Now I had the choice to be 45, doing the same thing at my same job, day after day, with a guaranteed salary, working for the hospital/corporation.
And I would have been comfortable.
Or take a chance...
Every successful person I've ever read about all had one thing in common, they all took chances on themselves.
And most had resistance from family and friends along the way, but they believed in themselves, even when those around them didn't.
So I guess to sum that up I would say is...
faith in oneself.
Dr.
Howell is an alumnus of Western Michigan University, with a bachelor's degree in secondary education and UAC Medical School.
He is the owner of Stuart Walk-In Care and After Hours in Stuart, FL.
providing urgent medical care and family medical services.
Visit Dr.
Howell's website at www.
StuartWalkInCare.
com
For Dr.
Michael Howell of Stuart Walk-In Care in Stuart, FL.
the journey to owning a business was one of many trials and tribulations.
From struggling to find funds to failed advertising campaigns, Dr.
Howell struggled to keep his head held high as he worked to make his dream come true.
As with all stories of hardship, there is eventually a light at the end of the tunnel.
After his many falters, Dr.
Howell finally saw his vision take shape and is now the successful owner of his on Urgent Care clinic.
To start off our "Share the Experience" series, we asked Dr.
Howell to answer a few questions to help entrepreneurs and future business owners succeed, he was glad to help out.
With the hope of assisting future business owners, Dr.
Howell answered personal questions about his experiences and shed light on many areas that he never expected to encounter, and shares the aspects of starting a business he wish he would have known.
What is the name of your business and what service do you provide? Stuart Walk in Care & Afterhours, we are an Urgent Care/Family practice facility treating both acute and chronic medical diseases that do not require an ER/hospitalization.
When did you start your business? October of 2010 How long did you prepare or plan to start this business and what steps did you take to do so? I have been saving up and planning to open this clinic since graduating residency in 2009, it took well over a year to save and organize.
I worked for an Urgent Care facility full time, as well as a family pract.
clinic, gained valuable experience, and listed what was a necessity for a successful clinic, then saved up and put it all together.
How long did it take to break even or make a profit? Why? As a solo practitioner my break even point included every expense I have on a monthly basis, not just the business.
For example I have to pay about $2000 month in student loans, plus my insurances, plus Digital xray lease, employee salaries, clinic and apartment rent, with utilities, supplies, upkeep of machinery fax/copy/computers/printer/...
Billing companies, advertising, plus I have to eat at some point on a daily basis.
At six months I am no longer in the red/losing money on a daily basis, but I have not paid myself a salary in over 6 months, been living off my savings, and probably will not see a salary during my first year.
As far as profit goes, by the time I make enough to cover my initial investment and get back to the income I was at before I started this venture, I'm hoping 2 years.
Why did you choose to start your own business? I worked for a hospital and was able to see the revenue generated in an urgent care center, and knew that if I worked hard and sacrificed, that I would be able to make a run of it...
But it takes time and I work 7 days a week at the clinic, plus I admit a rehab facility and do ear cleanings at nursing homes to subsidize my losses with the business until we become more productive.
I like the challenge, and I'm building a better future for my family.
What risks were involved? Were you aware of them at the time or prepared? One risk, that I would not have enough patients to cover my bills, I had made a business plan and was aware of what my reimbursements were and therefore how many patients I'd need to see on a daily basis...
A realistic business plan is a great map to follow, but hard to put together on my first attempt at opening a clinic.
What problems did you run into? Of these problems which was the most critical? My billing company did not have contracts with any insurances at my opening day, apparently I fell through the cracks and my first 2 months I was only surviving on my cash pay patients, but I didn't want to send my insured patients away, so basically I saw them and was only reimbursed by the copay...
I wish I would have went with someone local as well to do my billing.
Try to keep all your business affairs local, its easier to fix a problem, and people are much more willing to work hard for you if you can look them in the eye.
More personal that way.
Also if you use machinery on a daily basis, do not buy cheap.
I bought a copier/fax/printer off of Craigslist and it has been a complete nightmare, and I eventually bought brand new...
My life would have been much less stressful if I would have just paid for quality in the beginning.
Same with BP machines/ekg machines/ etc...
Advertising was a huge cost, when you open a business, everyone in town will knock on your door 24/7 stating they have the #1 way to advertise your business, phone books, internet, fliers, postcards, Moneysaver, condo directories, radio...
And I tried them all and realized that it is all a waste of money.
A huge waste of money.
Just make sure your business comes up on a Google search/mapsearch, then give a good product.
And learn this phrase...
"We are no longer spending on advertising.
Thank you.
" I had zero return on my advertising.
I spent so much on advertising I had to take a SBA loan out to keep my doors open, expecting at least a $1 to $1 return on my advertising investments.
It never came.
I know because I ask every patient when they come in...
"How did you hear about us?" Word of mouth is king in these parts, keep it local, be fair with pricing, care about what you're doing and people will come.
Was there a point where you had to make a go/no-go decision with your startup? When I came across the perfect property, I had been searching towns, facilities, buildings, traffic, competition concentrations, and found one that fit my criteria.
Then I knew it was time to pull the trigger.
Do you enjoy running your business? What are the benefits? The downsides? Long hours, less pay, more responsibility, more personal stress, more family stress, initially...
But I believe that if I keep working hard and keep the patients best interests at heart, then more patients will come and I will be able to increase my revenue, which will allow me to hire a physician assistant to give me time off.
But I love what I do, you have to in order to make all the sacrifices necessary to be successful.
If there was one thing you wish you would have known when you started and didn't, what would it be? The amount of stress that this has put on my new marriage.
Communication would have probably solved 90% the problems that have come from this, so if you're thinking about making a decision that will drastically change your life, make sure your spouse is 100% in agreement and understands that they will have to sacrifice as well.
What recommendations would you have for someone attempting to start their own business? Look at the big picture.
In 10 years I'm going to be 45.
I know this.
Now I had the choice to be 45, doing the same thing at my same job, day after day, with a guaranteed salary, working for the hospital/corporation.
And I would have been comfortable.
Or take a chance...
Every successful person I've ever read about all had one thing in common, they all took chances on themselves.
And most had resistance from family and friends along the way, but they believed in themselves, even when those around them didn't.
So I guess to sum that up I would say is...
faith in oneself.
Dr.
Howell is an alumnus of Western Michigan University, with a bachelor's degree in secondary education and UAC Medical School.
He is the owner of Stuart Walk-In Care and After Hours in Stuart, FL.
providing urgent medical care and family medical services.
Visit Dr.
Howell's website at www.
StuartWalkInCare.
com
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