When Do You Know You’re Ready for Your First Dental Practice?
You have been out of dental school for over a year now, working as an associate, or a GPR assignment. You’re getting antsy as the owner keeps giving you the new patient exams, fillings, and the mean, nasty patients they don’t want to see. You’ve got the itch for a change, either to do a startup or buy your first dental practice. But, how do you know you’re ready?...Read MoreSeeing the Jungle through the Trees
All practices have something wrong with them. Some have more problems than others. The key to analyzing and acquiring a practice is having a vision and being able to know how to overcome and fix the problems. Case Study #1 – A practice has historically produced $800,000 but is now down to $400,000 with no new patients coming in the door. Turn and run, or look into it further? If...Read MoreDo Not Wait to Buy a Practice
Do Not Wait to Buy a Practice By Rod Johnston, MBA, CMA Do you ever sit back and wait for something to happen thinking that if you wait, that something could turn out perfect? But, then you end up waiting a little too long and you end up missing your perfect opportunity? Whether that certain thing is a cake that you think you need to wait a few more minutes to bake and then you end up burning...Read MoreThe Importance of a Good Team When Purchasing a Dental Practice
Buying a practice can be a daunting task. That’s why it’s important to not only have the skills and education to analyze a practice, it’s also important to have a good team on your side. On your team, you will want a Certified Public Accountant that has a big emphasis or specialization in your field. They need to know the industry, numbers, etc., they should also be accredited in practice...Read MoreEntrepreneurial Energy
By Corey Young, DDS, MBA, Practice Transition Specialist What defines entrepreneurial energy? According to David Lyons, PhD: “Entrepreneurial energy is the force that sustains the momentum and velocity of progression in the venture. Energy can rise through excitation/agitation and fall through decay of the energy as a result of predicaments or failures. Entrepreneurial energy is an...Read Moreby omniadminAugust 16, 2022 Buyer Articles, Buying a Practice, Real Estate, Using a Professional0 comments