Undeniably, this discussion post has precisely given a good advice to the graduate intending to start a medical practice based on the ideas from the article provided. It is an indication that the student grasped the concept of the content. The main idea that Guglielmo emphasized in the article that there is need to focus more on the practicality of the business plan rather than mere reflections, has been reintegrated by the student. Besides, there is a succinct summary of the key contents that Guglielmo believe should be involved when making a business plan (Guglielmo, 2007). Essentially, it is extremely challenging to start a medical practice; however, having these contents can guide the graduate in making logical decisions. As indicated in the post, it is safe to identify challenges that can be dealt with while the plan is still on the paper than proceeding with the implementation of the plan only to realize many challenges after spending significant amount of money and time.
However, there are several tips for writing a good business plan that Guglielmo indicated in the article that a budding entrepreneur should keep in mind before initiating a medical practice. These tips including being honest by acknowledging both challenges and opportunities to enable investors to have a clear picture of the plan (Guglielmo, 2007). It is also advisable not to take the rivals lightly because they could have better ideas. There is need to look for sweet spot, which connotes a having a middle ground that leaves a chance of inputs from other stakeholders. The graduate should also ensure that all the stakeholders are effectively engaged and are aware of the visions and goals of the practice. Finally, the graduate should determine the opportune moment to seek expert advice.
Guglielmo, W. J. (2007). How to write a business plan. Medical Economics, 84(17), 42-6. Retrieved from https://lopes.idm.oclc.org/login?url=https://search-proquest-com.lopes.idm.oclc.org/docview/227802386?accountid=7374
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