My number one financial tip for new dentists can be summed up in one word:
WAIT.
It’s one word, but it means a couple of different things.
Category Archives: Before You Buy
23
Jun
Jun
The difference between being prepared or not is the difference in how much stress you’ll go through in your transition process. (I often talk about networking with “gray-haired dentists”; don’t become one of them before your time.)
Let me tell you about two clients. Both true stories, one bad, one good.
07
Apr
Apr
Among the perks of dentistry is that it can provide financial security that few other professions can. But to achieve it, you’ll need to pay attention to more than just your basic clinical skills. Here are three tips for new dentists to get off on the right foot financially as you start your career.
24
Mar
Mar
If you want to own a dental practice, you’ll need some skill with that drill. That’s not according to me, that’s according to the banks that will be loaning you the hundreds of thousands of dollars for the practice purchase.
10
Mar
Mar
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?
03
Mar
Mar
I was recently asked to explain, well…what it is I actually do! Good question. Here’s how I can help you and your career, starting NOW.
12
Jan
Jan
2023 has a few things going for it. Who knows what will happen in the wider world, but in the world of dentistry, I’ve got some trends I’m looking forward to this year.
Before You Buy, Due Diligence
What is the most important quality to look at when buying a dental practice? | Finding a Dental Practice to Buy
01
Sep
Sep
The most important quality to look at when buying a practice is one with strong office collections.
As a general rule of thumb, I strongly encourage you to ignore any practice that is not collecting at least $750,000, preferably $800,000+.
Why is that? Read on to find out. (More detail in the video after the jump.)
Before You Buy
Should I buy a dental practice or begin a startup? | Evaluating a Dental Practice to Buy
11
Aug
Aug
For the vast majority of dentists purchasing an existing practice is easier, faster, less risky, and at least as rewarding as going the startup route.
Now, my purpose here is not to completely poo-poo the idea of startup practices. Sometimes doing a startup is a great option. But there are three very common myths circulating about the [false] “cons” of buying an existing office. I want to dispel these myths and break them down for you based on my years of experience.
Before You Buy, Due Diligence, Letter of Intent
4 Things NOT to Say in Your First Meeting | Evaluating a Dental Practice to Buy
28
Jul
Jul
Just like asking strong questions can work for your benefit, asking wrong questions will be to your detriment. Here are 4 questions to avoid at all costs when meeting the seller.
