I have talked to many dentists over the last several weeks and noticed that recent conversations have taken on a new tone as we all navigate the COVID-19 situation.
Now is a great time to have some important conversations with your family about how your career affects your collective future. Most of you have never been allowed this kind of focused time to evaluate your true priorities as a family.
As a profession, we dentists have been challenged in many ways, at so many times, and we have responded with thoughtfulness, compassion, and caring. I am proud to be a part of a group of people who are willing to sacrifice so much just to care for our patients and communities. Let’s remember that we are a small group of highly trained individuals whose services will always be needed – we will bounce back from this.
So how can we navigate these times when practices are closed? After all, even the most introverted of dentists is used to interacting with people each day. I have a few ideas to help you stay positive through the coming weeks.
We want to reach out to let you know that we at ADA Practice Transitions are here to support you in any way possible during this crisis.
Whether you are looking for your first dental job or ready to move on, associateships are on your mind. But what type of practice is just right for you? What should you look for? What should you watch out for?
Through ADA Practice Transitions, I work with many dentists who are looking to buy a dental practice. While it is tempting to search for the “perfect practice,” I ask dentists to keep an open mind and find a practice with a great foundation – one that you can transform into your very own dental dream home.
Just like with homeownership, you have two basic choices when it comes to dental practice ownership. You can build it new, or you can buy an existing practice. The reality is that it is often financially advantageous to find a practice – a fixer-upper, if you will – that you can adapt to fit your vision.
Dental practices can grow slowly over several years – then suddenly reach a tipping point where an owner feels they need to hire an associate ASAP. But it is important to prepare the practice before hiring anyone.
This is part of the “What Went Wrong Wednesdays” series, in which we explore common problems of practice transitions – and offer tips to help you avoid them.
Retirement should be a well thought-out event that you take ownership of. To truly take control of your future, retirement planning should start years – even decades – before you anticipate finishing your career.
Here are two scenarios that illustrate what happened when a doctor did not completely think through their exit plans, along with suggestions to help you avoid the same fate.
Happy New Year! Many people look at the new year (or new decade) as a time to make changes. If the fresh calendar has you thinking about your own dental practice transition, review my lessons learned in 2019 and then read on for tips to make 2020 your year.
This year, ADA Practice Transitions (ADAPT) went live – and I have had the privilege of working with dentists in the midst of career transitions of all types. From dental students to dentists wrapping up 40-year careers, I am thoroughly enjoying working with each and every one!
As we look ahead to 2020, I wanted to share five of my thoughts on the biggest predictors of a successful transition.