Key Takeaways when Buying a Practice

  Find the right clinic for you the first time; there are no do-overs. Owning a clinic is like owning a dog; it’s a long-term commitment that requires constant attention. Be 100 percent sure that owning a dental practice fits your personal and professional goals, aspirations, and capabilities. Owning a dental practice means managing a […]

The Break-Even Analysis: A Must Have Tool In Finding A Great Practice

Think of a break-even analysis as a little like a depth finder on a boat—it tells you how close you are to running aground. Put another way; it shows you how far the revenues of the practice you are considering purchasing can drop before it hits rock-bottom. In this case, rock-bottom is the moment net […]

Wealth Building Tips for Dentists

Building wealth is not the result of making more or having a financial whiz on your team. It is the result of spending more of your time to reach your financial goals. If your most important goal is to pay off the mortgage, or save for retirement, how much effort are you putting in to […]

Harnessing the Power of Compounding

If you had to choose between a gift of $5 million today or one penny that would double in value daily for 31 days, which would you pick? If you chose the compounding penny option, you are the winner. That option would give you $10,737,418 in 31 days. That’s an offer impossible to turn down […]

Assembling Your Transition Team

Purchasing a dental practice is complicated. Just as a ship captain needs a harbor pilot to help guide them safely into port, you require a few seasoned professionals to help prevent you from making a costly mistake. These professionals should have expertise in dental practice transitions. If you don’t feel confident that your current accountant […]

Finding the diamond in the rough

As you are thumbing through practice valuation reports to find the perfect practice to make an offer on, you come across a valuation of a clinic that looks like a losing proposition. It was established three years ago in a dynamite location which you cannot miss on your daily commute on a busy thoroughfare. Despite […]