In this episode of The Art of Succession podcast, host Barrett Young interviews Dr. Tatiana Barrera and Dr. Michael Vega, the engaged couple behind Move Forward Chiropractic in Tampa, Florida. They share their story of unexpectedly purchasing and transforming a chiropractic practice, highlighting their journey from employees to business owners.
From Employees to Entrepreneurs
Tatiana and Michael both worked in different chiropractic practices before deciding to take the leap into business ownership. Tatiana, initially content with her job, received a text from a friend about a practice for sale at an incredibly low price. Despite having no previous intention of owning a practice, she decided to check it out. The offer was too good to pass up, leading her to buy the practice with Michael’s support.
Challenges in Starting Up
Tatiana had only 30 days to learn and do everything necessary to take over the practice, all while still working full-time at her previous job. She quickly realized that the business knowledge she had gained in school was not sufficient, and she had to rely heavily on her CPA, mentors, and real-world experience to navigate the transition.
After acquiring the practice, they discovered that the original name was causing confusion due to its similarity to another nearby chiropractic clinic. This prompted them to rebrand the practice as Move Forward Chiropractic. The rebranding process was rapid, driven by their desire to establish a unique identity and avoid further confusion. Within a short period, they developed a new brand identity that resonated with their patients and community.
Partnership and Future Plans
Tatiana and Michael emphasize the importance of organic growth and maintaining control over their practice's direction. They partnered with Honeybadger, a group of coaches and business owners who helped them tailor their business model to their vision. This partnership allowed them to grow their practice without compromising their values or approach to patient care.
Listeners can learn more about Tatiana Barrera and Michael Vega by visiting Move Forward Chiropractic or connecting with them on social media.
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Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
