There are gaps that you’ll need to fill to make the most out of owning your own practice. I’ve listed three of them below, with some resources you can use to get started.
Category Archives: Ownership
The point isn’t whether you should or shouldn’t buy this particular practice; the point is to start looking at practices with an eye toward ownership. And what better place to start?
In order to build real wealth over your career without losing your mind in the process, there are two mindset shifts I want dentists to make. Let’s get right into them.
Student loans are a giant mountain to climb as you’re coming out of school, and looking at those payments, that summit can feel way out of reach.
With an extra $140K every year, you can live that comfortable lifestyle while paying off your debt in a matter of a few years, rather than possibly a couple decades.
You care about your business more than anyone else working for you. And that’s okay! Here’s how to think about employees who don’t seem to exhibit that “ownership mindset” that so many employers seem to expect.
Most dentists are great dentists…and terrible business owners. Here’s a book and a mindset that you can adopt to overcome that.
Dental Practice Ad Budgets Tell a Story You Need to Know | Being a Good Dental Practice Owner
A practice will generally spend between 1% and 4% of collections on advertising.
That being said, there’s a whole lot of context to consider for that average number to make sense. In this post and the accompanying video, I’ll give you that context.
To retain your patient base after a transition, there are two vital things you must do for the first several months. First, keep the staff. Second, maintain a similar clinical approach as the seller.
In this post and video, we’ll dive mostly into that second topic.
One of the most influential factors that lead to your success as a new owner won’t be the roadside visibility or advertising costs, but rather something, or should I say someone(s), on the inside: the existing staff members.
Ownership, Practice Purchase Analysis
Identifying Habits of Successful Dental Practices | Negotiating a Dental Practice Purchase
A two-fer! In this blog post, I give some advice to dentists who will become business owners after buying a practice. What are the habits you can cultivate to help your business stay on track?
And in the video (click through to watch), I tackle a related topic. If you’re looking at a dental practice to buy, there are plenty of numbers and hard data to look at to assess the health of the practice. But outside of the quantitative data, what about the qualitative aspects? What should you be looking at to judge whether a practice is the right one for you to buy? I’ve got three business habits that a practice should exhibit to let you know it’s worth your consideration.