There are places you can safely "pay less" and still have expectations of acceptable quality. Gasoline is a good example. If a gas station on one side of the street is 5 cents cheaper for a gallon of regular, you can usually assume that any quality
It was my second meeting with Dr. Leighton. A potential buyer had asked if there was a systematized approach to growing the practice. Sadly, there WAS an email-based system but it had been discontinued because of declining results. Fortunately, our
There has been a lot of speculation about Elon Musk’s desire to buy Twitter.
Some are probably legitimate, some are completely wrong, and some of it is pure “tin-foil hat” conspiracy theory.
The offer was accepted but as soon as the buyer started to perform their “due diligence”, cracks began to appear…
You have several options when it comes to leadership in your practice. Servant leadership is a style that can help you strengthen your team by keeping them personally and professionally satisfied, encouraging them to contribute high-quality work and assisting you in making your practice a success.
When working on behalf of a dentist that is selling their practice, it’s not unusual to find several buyers expressing interest in the practice. And like homes listed for sale in the real estate office, the dentist will often receive multiple offers.
Imagine you’re thinking about selling your practice. What do you ask for? A cash offer? An equity purchase? Will you want to stay after the deal is done?
All of these are important questions, and the answers are not as simple as you might think.
For depth, let’s take a look at how different kinds of offers affect your patients.
The dentist partners at Sunshine Dental (not the practice’s real name) knew the senior partner wanted to retire in the next few years. The practice was thriving, but the junior partner didn’t want to assume the senior partner’s role in running and managing the practice. Her preference was to spend the majority of her time face-to-face with patients and not at a desk, looking at financials, dealing with staffing, and figuring out marketing.
In the last blog, we discussed the need to identify your most profitable niche as a means of maximizing the sale value of your practice.
Once identifying the niche is done, the next step is to focus on the best means of attracting the person who is that ideal, specific patient.
Consider the orthodontic practice of Dr. Q. For years, Dr. Q. has used traditional marketing to attract patients to his practice. The primary source has been referrals from general dental offices but as more and more general
