This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists currently in the process.
We recently met Dr. Joe, a recent graduate working in a DSO with dreams of buying his own dental practice. Dr. Joe joined ADA Practice Transitions to pursue his goals and is working with his ADA Advisor to narrow down the best path forward.
The “life” in “work-life” balance is very important to Dr. Joe and his family. The desire to build a good life for his family guides every step of his journey.
Dr. and Mrs. Joe moved to their current city when he accepted his DSO job – and they have been pleasantly surprised to find how much they enjoy the area. Community is very important to both of them, and they want to find a place where they can put down long-term roots and raise their young daughter. However, a restrictive covenant may force them to purchase a practice in another town. In a relatively rural area, that could be quite some distance away.
Making decisions as a team
Dr. Joe and his wife truly believe in making decisions as a team, weighing the pros and cons for the family as a whole. Plus, Mrs. Joe helps keep her husband “grounded” about his choices.
“When we make decisions, we pray to be of one heart and mind about the direction we’re taking,” he says. After all, work is only one aspect of a practice transition. For long term satisfaction, he wants to be in a community where all of his family’s needs can be met: social, educational, cultural, recreational, and so on.
After all, work is only one aspect of a practice transition. For long term satisfaction, Dr. Joe wants to be in a community where all of his family’s needs can be met: social, educational, cultural, recreational, and so on.
When Dr. Joe looks at buying a practice, he evaluates it for work-life balance. He asks,
- What will the practice’s pace mean for the family’s schedule?
- Will I have the flexibility to attend my children’s activities?
- How would my commute affect family time?
Together, Dr. and Mrs. Joe also look at a community’s schools, churches, parks, amenities, and proximity to extended family. They try to envision what everyday life would look like.
This extra consideration can add time to the process, but Dr. Joe feels the time is well invested.
“Patience is difficult,” he laughs. “But we’re not rushing through this process. We want to find a good community where we can ‘plug in.’”
We will continue to follow up with Dr. Joe and his family as they pursue buying a practice – and find a solution that suits the entire family.
Need help charting a path that fits your family's needs? ADA Practice Transitions can help you think through your short- and long-term goals. Start your profile today!