In the episode, Gary talks about mistakes dentists make before purchasing a dental practice and how you can avoid them.
This episode also features a clinical tip from Dr. Paul Henny on Case Presentation.
You can also download a free copy of the 4 Mistakes that must be avoided here.
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According to Gary, the best possible career path is owning a dental practice, but it’s not something suited for everyone.
Tune in to the episode to learn about the four biggest mistakes a dentist must avoid when purchasing their first dental practice or another practice.
Time Stamps
Today’s Clinical Tip
- 00:03:03 – Case presentation by Dr. Paul Henny, DDS
Coaching In Action
- 00:09:48 – What does Gary think about entrepreneurship?
- 00:11:45 – Gary talks about 4 mistakes dentists make when purchasing a practice.
- 00:12:24 – Number 1
- 00:14:40 – What is Gary’s definition for active patients?
- 00:17:10 – Gary share’s a personal example of diligence
- 00:21:37 – Number 2
- 00:23:47 – How does Gary deal with team members he has acquired when purchasing a practice?
- 00:28:30 – Number 3
- 00:34:32 – Number 4
- 00:42:06 – Number 5
Q&A Segment
- 00:43:25 – Question 1 – What banks would you recommend that I shop for my practice loan?
- 00:45:46 – Question 2 – How soon after graduating from dental school do you think it will be realistic for me to become a practice owner?
- 00:48:54 – Question 3 – What is the one thing I must do as soon as I buy the practice to maximize growth?
- 00:53:57 – Question 4 – I have an opportunity to purchase the real estate along with the practice. Would it be wise to purchase both at the same time?
Resources
Gary Takacs
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. As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.
More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!