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.
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.
Topics: retiring, selling a practice, what went wrong
This is part of the “What Went Wrong” series, in which we explore common problems of practice transitions – and offer tips to help you avoid them.
At ADA Practice Transitions, we place a heavy emphasis on making sure incoming doctors share a similar philosophy of care as the practice owner. While it may not be immediately apparent, having a shared approach is critical to the success of your future career or retirement plan, even if you are planning to sell and walk away.
Topics: owner dentist, retiring, purchase a practice, selling a practice, what went wrong
By popular demand, ADA Practice Transitions (ADAPT) is expanding!
Starting today, dentists who either own a practice or want to work in Indiana, Iowa, Kentucky, Michigan, Minnesota and New Hampshire can create an ADAPT profile!
Topics: retiring, looking for a job, purchase a practice, selling a practice, expanding my practice
Many young dentists automatically flock to urban or suburban areas after graduation. After all, those areas can command higher salaries. But have you considered working in a more rural area?
A rural practice can offer several advantages beyond fresh air and open spaces. Namely, rural practices often cost less with lower overhead and higher collections – meaning you might be able to pay off your debts sooner and enjoy a better quality of life.
Topics: looking for a job, selling a practice, Small Market
This is part of the “What Went Wrong” series, in which we explore common problems of practice transitions – and offer tips to help you avoid them.
Topics: owner dentist, retiring, purchase a practice, selling a practice, what went wrong
Do not forget the primary rule: your practice is worth whatever someone will pay for it.
Topics: owner dentist, selling a practice, practice valuation
