You have a dream. You have your time, your treasure, your energy, and frankly everything about you fully involved in making that dream a reality. When you tell your friends about that dream, they don’t get it though. They don’t live the life of a small disability practice owner.
What does that mean anyway, “Small Disability Practice?” For your clients, the size of your team makes no difference! What matters to them is the quality of the product, good representation for them on their Social Security disability claim, or more appropriately; your clients’ Social Security appeal(s).
For you, a small disability practice means that you’re wearing a heck of a lot of hats. Guess who pays the bills, who answers the phone, responds to emails, drafts disability hearing briefs, acts as the case manager, engages with healthcare professionals, and so much more…YOU. “Small disability practice” means you are a juggler of many disciplines, but you have little time to practice the discipline you should be the master of, Social Security advocacy.
How can you change this paradigm? How can you jump the gap from small disability practice multi-talker to CEO of your firm by adding staff? One option, raise capital.
Assuming you’re cash flow positive, a loan may be helpful. Of course, these come with interest, and depending on how you structure your loan; the collateral could become troublesome.
Most businesses live off a line of credit. Making payroll, daily transactions, essential tools you will need to improve your business, it’s likely that you will look to a line of credit to meet some or all of these challenges in your future as an owner-operator.
Of course, there’s always digging into your savings or taking out a “loan” from family. Each of these comes with their risks, as you already know. Moreover, they don’t address one of the critical challenges to adding those first couple team members, the high cost of quality labor.
Well, maybe it’s not expensive on paper, or in comparison to what you made in the past as an associate, or advocate somewhere else. However, when you’re working towards that all-important check from the SSA for attorneys’ fees, every wage you front is cash that you can’t spend in marketing or to pay yourself so that the business even exists.
This scenario is a familiar paradox that many small disability practice owners face. Should you seek cheaper help, knowing you might get what you pay for? Should you do it yourself, at the expense of business building activity and hope to find a sweet spot that enables you to hire some help in a couple of months? Alternatively, is there a whole other option?
Social Security Disability is a big field! There are a lot of strong advocates, and behind each one is a team that has gotten them to the point where they are successful. It shouldn’t come as a surprise that in today’s gig economy, some of those “behind the scenes” champions are finding a niche where they can focus on the core pieces they each do well. In fact, that’s the space we fill at Cornerstone Advocate Solutions.
Rather than hire a full-time employee to draft briefs, perform case file reviews, train up staff, make submission deadlines, and so much more… we step in with years of expertise in this area and take these challenges off your plate.
Our goal is to help you get these time-consuming tasks off your schedule so that you have more discretionary time to build your business! We want you to succeed, and if any of the points above made sense to you, we are the ones to help you now.
Reach out to us, ASAP, to discuss how our solutions will help you overcome your challenges.