The number one question we get is, “when should you sell?” But maybe a more important one is when should you start planning? Get ready to hear a perfect example of why planning years ahead is the key to securing an amazing deal.

Dr. Glenn Vo, Founder of Nifty Thrifty Dentist and Dental Lifestyles Magazine, remains a part-owner and practicing dentist at Denton Smiles Dentistry. He built this practice from the ground up before selling to MB2 Dental a few years ago. And it’s a pretty sweet deal! But what’s his secret? Planning ahead.

He knew that someday he wanted to sell so he got to work expanding his practice. He shares his story and advice for dentists looking to sell in this episode, along with tips on what he’d do differently if he could go back in time. Even if you’re a brand new practice owner, there’s so much to take away from this episode, because it’s never too early to start thinking of your sale.

In This Episode:

• Glenn’s story of how and why he sold his practice
• How Glenn and his wife expanded the practice’s operations and revenue before selling
• Why you need to be in alignment with the buyer
• The one thing he would’ve done differently
• Why you need to be 100% before assembling your team
• How Glenn’s team reacted to the sale
• How Glenn’s deal opens the door for future financial windfalls
• Why you should plan ahead way before you’re ready to sell

Resources:

• Connect with Glenn on LinkedIn: https://www.linkedin.com/in/drglennvo/
• Nifty Thrifty Dentists: https://niftythriftydentists.com/
• Follow Dental Pitch Brokerage on LinkedIn: https://www.linkedin.com/company/dentalpitch/
• Visit our website: https://dentalpitchbrokerage.com/
• Download The Dental EBITDA Handbook: https://link.dentalpitchbrokerage.com/widget/form/x45Iy9iZhayIriHmfNfb

A team can make or break a practice, and the same goes for when you eventually sell it. Selling might be a time to celebrate and breathe a sigh of relief. But for your team, things can be more complicated.

Emotions run high during a practice sale. There’s confusion, worry, uncertainty, and everyone’s going to be asking: what next? That’s where managing the transition is essential to making sure your sale goes smoothly.

Christine Diehl, Dental Team Transition Specialist for her company, The DSO Team Transition, has been on the other end of a sale. When her practice was sold, she experienced those same feelings of uncertainty firsthand. Today, she helps practice owners successfully manage that transition to DSO ownership.

She joins this episode to share her top advice for practice owners, how team members can manage change, and what to avoid when you sign and break the news to them. Hear about the realities of selling to a DSO and Christine’s experience of the post-transition process and what every practice owner needs to know.

In This Episode:

• Christine shares her experience of how her practice was sold to a DSO
• Why she decided to launch her business and podcast to help practice owners manage team transitions
• The overlooked value of becoming part of a DSO
• Common challenges during a transition and why it’s important to be positive
• How teams can prepare for change
• What Christine would do differently if selling today
• Giving grace to the practice owner during a sale
• Why you should avoid bashing DSOs to your team
• How the sale opened up new opportunities for Christine
• How to connect with Christine and listen to her podcast

Resources

• Follow Dental Pitch Brokerage on LinkedIn: https://www.linkedin.com/company/dentalpitch/
• Visit our website: https://dentalpitchbrokerage.com/
• The DSO Team Transition website: dsoteamtransition.com
• The DSO Hygienist Podcast: https://www.dsoteamtransition.com/podcast

Most dentists don’t realize that they could be leaving millions on the table when they come to sell their practice. Don’t be one of them!

There are plenty of things you can start doing today to increase the value of your practice so that buyers start lining up to make you an offer. From increasing operational potential to maximizing efficiency, there’s almost always something you can do to unlock more value from your practice.

In this episode, we hear from Eric J. Morin, President and Founder of Tower Leadership, whose extensive background in business strategy, finance, and dental practice growth helps dentists maximize their EBITDA and practice value.

Eric shares the top mistakes he sees dentists make when calculating their value, actionable ways to increase your value and profits (even without buying more practices), plus the importance of management in your next stage of growth.

In This Episode:

• A bit about Eric’s his background and how he got involved in the dental world
• Why Eric decided to create a company to help dentists build a holistic game plan
• Are you ready to sell? Weighing up proactive vs. reactive reasons
• Why you need to know ‘your number’ before deciding to sell
• Why CPA figures should NOT be used for practice valuation (and what to use instead)
• How to grow your practice without scaling the number of locations
• The biggest mistakes Eric sees when trying to grow EBITDA
• Is your management right for your next stage of growth?

Resources:

• Follow Dental Pitch Brokerage on LinkedIn: https://www.linkedin.com/company/dentalpitch/
• Visit our website: https://dentalpitchbrokerage.com/
• Download The Dental EBITDA Handbook: https://link.dentalpitchbrokerage.com/widget/form/x45Iy9iZhayIriHmfNfb