Closing the sale: 7 “Must-do’s” to maximize practice value

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If you are planning to sell all or a portion of the dental practice here are some tips to turn your valuable practice asset into cash. Allow lots of time. Don’t rush to book the airline tickets to your retirement home in New Zealand. Don’t wait until health problems force your hand. Purchasers are astute. […]

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Do you have a practice transition plan?

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When you start thinking about the practice succession and bringing another dentist into your practice, you must have a solid transition plan in place. This plan not only helps you spell out your financial and retirement goals but also provides a roadmap for the dentist joining a practice. It is important to share your transition […]

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What separates the top 10% of dentists from the bottom 90%?

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The question of what separates the top 10% from the bottom 90% of dentists was put to top performers in dentistry. The answers are contained in the book “Titans of Dentistry: How the Top Performers Think and Act Differently” by Drs. Short and Maloley. Here is a sampling. “Goals and FEAR. I believe that the […]

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Fast Tracking to Practice Ownership

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Suffocating under a $300,000 student loan, most dental graduates decide to work as associates until the student debt is gone. If you really want to pay off your loan quickly, consider becoming an owner as soon as you can. Use a short-term associateship to hone your clinical and patient communication skills and enjoy the benefits […]

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Incorporating with Student Debt

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There is a general impression, particularly amongst young dentists, that there is no benefit to incorporate as long as they have personal debts. There are significant benefits for a new dentist if they spend less than they earn. Here’s an illustration that shows how a new dentist can benefit from incorporating his/her practice: Dr. Young […]

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Am I ready to retire from dentistry?

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A practice transition is a long-term proposition that will change your life and upend your daily routine. Be specific about your transition goals. Determine whether you want to retire partially or fully and map out a timeline. Decide if you are looking at a five or ten-year window. Depending on which you choose, the financial […]

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