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Ask Jane Applegate
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October 4, 1999: 1:30 p.m. ET
Advice on exporting electronics and starting a medical practice sans HMO
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NEW YORK (CNNfn) - Here are answers to your questions for CNNfn.com small-business expert Jane Applegate.
Dear Jane: I'm a 49-year-old internist. I'm ethical and honest and don't want to work for an HMO. I would like to start my own practice, but where can I get some help?
Most medical schools still don't teach doctors much about running a business, yet setting up a private medical practice is very much like running a small company. You have to deal with hiring people, buying insurance, billing and marketing issues.
Because it's very expensive and time-consuming to start from scratch, I would suggest going to work for an established doctor in your field, possibly one who is planning to retire in the next five years.
Doing this not only would give you firsthand experience in running a private practice, but also would provide a clear exit strategy for the doctor who hires you. You might want to set up the terms of a deal to buy the practice right from the start, then apply part of your salary toward the down payment.
Your location will make a big difference in the amount of money you can earn. In some inner city or rural areas, where general practitioners are in demand, you often can make more money than in an upscale suburb where there is a glut of new physicians. Do some exploring to figure out where you want to live, then start contacting doctors in the area.
You also should contact the local medical society for referrals to older doctors. Word of mouth is the best way for you to look for someone to team up with.
If you decide to strike out on your own, you'll need to find a way to outfit an office and finance your equipment. You might want to rent space from an established medical practice, again to keep your overhead costs as low as possible.
Dear Jane: I used to live in New York. Now, I work in Thailand as an assistant business manager. I want to export electronic parts from Thailand and Asia. I'm coming to New York again soon. How can I start this business and how much money do you think I'll need?
You'll need more than money to start a successful exporting firm. Before you visit the U.S., make some solid marketing contacts and personal appointments. You don't want to export anything until you have someone who wants to buy your products.
You might want to contact the American Electronics Association, which has 17 offices in the U.S. and offices in Toyko, Bejing and Brussels. A trade association like the AEA can put you in touch with many companies that may want to do business with you. Economic development offices for New York City and the surrounding areas should also be able to provide valuable introductions. Try contacting the New Jersey Technology Council, too.
Once you've met with potential customers, you will have a much better idea of what they need and how quickly they want to receive your parts. Then, you can return to Thailand and start crunching the numbers.
Initially, you'll need a few thousand dollars to produce business cards, marketing material and order forms. Make sure you will make some profit on every order---you can never make up for lost profits by doing a lot of "volume."
Be sure to check out another great web site for exporting, exporthotline.com. It has a wealth of information for business owners all over the world. 
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