Podcast: Play in new window | Download
Is your dental practice a dream…or a golden cage? Building a successful practice takes years, but what happens when you’re ready to cash in or simply step back? This episode reveals the hidden exit strategies many dentists don’t even know exist!
Escape the dentist’s chair (figuratively)! This episode dives deep into the often-ignored topic of exiting your dental practice. Learn the four key strategies successful dentists use (selling traditionally, partnering, DSOs, or staying put) and discover the critical planning step most neglect that could cost them dearly. Take control of your future and unlock the value you’ve built.
Subscribe To Our Podcast
Timestamps
- 00:00:38 – Introduction
- 00:01:02 – Announcements
- 00:03:44 – Clear Aligner Tip – By Stephane Reinhardt
CIA Segment
- 00:11:05 – “Start with the End in Mind”: Discussing the importance of exit strategies for business owners and the impact on practice value.
- 00:13:18 – “Increasing Practice Value”: Exploring ways to enhance the value of a dental practice, drawing parallels with home improvements.
- 00:15:11 – “Patient-Centric Practice”: How focusing on patient care and experience can enhance the overall value of a dental practice.
- 00:21:07 – “Four Exit Strategies”: Overview of the four main exit strategies for dental practice owners: traditional sale, partial sale, selling to a DSO, and no exit plan.
- 00:31:03 – “Continuing to Own the Practice”: Discussing the option of retaining ownership of the practice and its potential benefits in certain circumstances.
Q&A Segment
- 00:32:57 – Q1- 1. When is the appropriate time to start serious planning about an exit strategy?
Schedule a Coaching Strategy Meeting- www.thrivingdentist.com/coaching/ - 00:36:30 – Q2- Regarding your 2nd option of selling part of a practice, a) do you have any guidelines on what percentage I should make available to a potential partner, and b) how to find a partner?
- 00:39:33 – Q3- You have opened my eyes to the potential of selling to a DSO. What criteria would you use to determine if this is the right option for me?
- 00:45:25 – Q4- I am intrigued by your option number 4. However, I am also concerned that if I step away from day-to-day dentistry, the practice won’t continue to grow. How can I help ensure that it does?
Schedule a Free Marketing Strategy Meeting – www.thrivingdentist.com/marketing-strategy-meeting/
Schedule a Coaching Strategy Meeting – www.thrivingdentist.com/coaching/
Resources
Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe.