If you have read the last two articles, you should be pumped up and ready for the next step in scoring. Don’t miss the opportunity of seeing the whole strategy. You can easily go to www.summitpracticesolutions.com/blog, and there will be a search block to about 700 articles, as well as the last two for you to catch up. Don’t forget to ...
Read MoreBefore any game, the wise coach and team spend hours practicing and mastering the basics, watching the game films of the other opponent, and adding to the fundamentals, a next level strategy that will make the difference in winning and losing. After writing the first article in this series, Keeping Score, I realized that before there is ever a ...
Read MoreI like to think that I am not just driven by winning or getting the best “score”. I know that I should rise above winning and losing, but for some reason, life tends to put things in my path where the score seems to be important. I am sure that each of you are more mature and find the touchy-feely things in life far more important than the ...
Read MoreOver the last forty years in Dentistry we have seen “change” as the only constant. The first thing to happen was that the “practice” of Dentistry evolved into the “business” of Dentistry. The shift was subtle, but over the decades we found our patients moving from “seeking” treatment that they needed to “buying” treatment ...
Read MoreAs indicated in one or more of the previous articles/posts in this series, the final installment will dive into how to read and understand the package of information you would typically receive from a practice broker or brokerage company. We are going to deliver this in a video format because it will hopefully make it a little bit easier to ...
Read MoreI am going to divide the last two topics into two separate areas so that we don’t lose site of what we are looking for. The search that we have been pursuing is a dental practice in need of care, in a great location, with a huge upside after the sale. The next addition to fill out our search is how to read and interpret a broker’s sale ...
Read MoreBefore we move on to an actual look at a real brokerage offering, there are some simple but necessary questions that you need to ask in this process of finding that ideal practice with a huge upside and a quick profitable growth curve. As you will see, these questions delve into the very heart of what you will be buying. You will also learn ...
Read MoreLike it or not, many doctors doom their prospects of owning a successful dental practice by denying the importance of location and specifically the demographics of that location. Selecting that “just right” location can make all the difference in the world. Not moving this decision to your highest priority can create a situation that you ...
Read MoreThere are many things that drive us towards a location for opening or purchasing a practice. Remember, we are looking for a unique purchase of a practice that has the potential of doubling or quadrupling the before sale production and profitability. We will analyze the effects on selecting the best location for the right reasons. I would have ...
Read MoreOur second point of interest in purchasing a practice for profit is their Profit & Loss Statement. I will try to dumb this down to a simple yet understandable format that allows you to quickly analyze a practice “outflow”. Keep in mind that I will be mentioning ideal levels in the categories we discuss. But our primary goal is ...
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