Welcome to the New Year!
In this blog, we aim to provide educational and other information as it relates to practice transitions, sales, management tips, accounting, and tax advice, and an occasional humorous quip or two. Our depth and breadth of knowledge range from practice sales to how to increase production to how to make great salmon with jalapeno pepper sauce! If we don’t know it,...Read More
I meet over 150 dentists each year who are looking to buy an existing dental practice. Of those, I would estimate that 30% have done any research on what is involved in buying a practice. Of those 30%, none of them know the beginning to end process of buying a practice. While I can’t cover all the steps in this article, I can give you some guidance on where to start and what steps to take...Read More
“Begin with the End in Mind” is habit number two in Stephen Covey’s book “7 Habits of Highly Effective People.” A fairly large number of dentists I have worked with follow habit number 8 that did not make the book. That habit is “End When You Have To.”
In every business and in every goal that you set, you have an end in mind. When you set your New Year’s Revolution on January 1 of getting...Read More
There are approximately 150,000 dentists in the United States. Over half of these are classified as baby boomers. In the next 20 years, it is estimated that one-half, or 75,000, of the currently practicing dentists, will retire. The current number of graduates coming out of dental school is on a decline. According to the Journal of American Dental Association, there will be 500 fewer...Read More
You have purchased your dream practice. Everything is going great, your production is growing, overhead is going down and new patients are lining up at the door. Then, the inevitable happens. The staff starts to complain about being overworked. Or, they complain about each other behind each other’s backs and morale goes down the toilet. What do you do?
You have several options to...Read More
