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

Should you sell? When should you sell? Who should you sell to? These are all big questions for any dental practice owner. But in this episode, we get to the heart of what really matters for practice owners thinking about selling.

Joining Elijah Desmond is Dr. Eric J Roman, Co-Founder of multiple businesses, including 1LifeSystem, SmartDiligence.ai, and joyFULL People. He’s skyrocketed growth at several dental groups in his career and now helps dentists and their teams get the most out of their careers and lives. As an entrepreneur, coach, and business mentor, he brings bags of experience and no-nonsense tips for those thinking of selling.

From figuring out when or whether to sell to ensuring a smooth transition to enhancing team culture and using leadership to enhance valuation, this episode is a masterclass for dental practice owners.

In This Episode:

• Eric shares his incredibly varied and successful background
• 3 tips when considering selling
• How to balance selling your practice with achieving personal fulfillment
• Top strategies for a smooth transition
• How leadership affects valuation
• The role of team culture in your preparation to sell
• Why you should be honest about your vision for the future

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
• Connect with Eric on LinkedIn: https://www.linkedin.com/in/drericjroman/
• Visit Eric’s website: https://drericjroman.com/

A good wealth management plan can help you before, during, and after a dental practice sale. But where do you even start? Do you just hire a regular wealth advisor and take it from there?

The thing about wealth that’s tied up in a dental practice is that your typical wealth advisor may not be equipped to handle the finer details. What you need is a specialist or someone who knows the dental industry.

In this episode, we speak with Tim McNeely, Wealth Advisor and VP at Farther and CEO/Founder of The Dental Exit Institute. He also hosts The Dental Wealth Nation Show and is the author of ‘Dental Wealth Nation: 7 Steps to Decrees Taxes, Increase Impact, and Leave Your Lasting Legacy.’

Tim has plenty of advice for practice owners thinking of selling, whether soon or far in the future. In Tim’s words, it’s never too early to start planning an exit. We hear why the sale of your practice is not an end point for your wealth journey and how the four pillars of advanced wealth planning can set you up for life.

BONUS: To learn more from Tim, don’t miss his generous offer at the end of this episode where he explains how to get a free copy of his book!

In This Episode:

• Tim explains his background in wealth management in the dental space
• Why dentists should start planning their exit on day one
• What do the dentists who walk away with the best deals do differently?
• Ways to reduce tax liability
• What to do if you’re not ready to sell just yet
• The four elements of advanced planning
• The experts you need on your team
• What dentists should consider to effectively manage wealth
• How a virtual family office can help
• Tim’s latest certification and how he helps dentist
• Bonus: how to grab a free copy of Tim’s book

Resources:

• Follow Dental Pitch Brokerage on LinkedIn: https://www.linkedin.com/company/dentalpitch/
• Visit our website: https://dentalpitchbrokerage.com/
• Connect with Tim on LinkedIn: https://www.linkedin.com/in/timmcneely/

What do buyers really look for when weighing up whether to buy your dental practice? Spoiler: it’s not just your revenue. Valuation goes far beyond numbers on a spreadsheet.

Industry veteran Mitch Olan, founder and former CEO of Dental Care Alliance (DCA), one of the largest DSOs in the country, joins this episode to share wisdom and advice collected over his 42 years in the dental industry.

You’ll hear why the value of a practice goes beyond numbers as Mitch weighs in on what buyers are really looking for, namely capacity, payer mix, and procedures mix, to find real opportunities for future growth.

Selling your practice can be a huge adjustment for dentists, but Mitch’s key advice in this episode is to embrace change and evolution rather than fight it. As Mitch puts it, "it's not a revolution, it's an evolution.” He also describes selling like a “marriage,” and why finding a buyer who’s truly aligned and committed is fundamental to your practice’s long-term success and growth.

In This Episode:

• Mitch takes us through the highlights of his career
• How sellers can present the growth potential of their practice to attract buyers
• What buyers are looking for beyond revenue practice to showcase value
• The most common traits of practices that thrive after acquisition
• Why sellers need to be open to change
• Common mistakes that dentists make when selling
• Timing your practice sale
• The importance of long-term planning (even when selling)
• Tips for organically increasing your valuation
• How to get in touch with Mitch

Resources:

• Follow Dental Pitch Brokerage on LinkedIn: https://www.linkedin.com/company/dentalpitch/
• Visit our website: https://dentalpitchbrokerage.com/

What if you discovered you'd left millions on the table when selling your practice? It happens more often than you think! In this episode, we look at the number one report you need to maximize your practice's worth: the Quality of Earnings report.

But what is it and how does it really affect your valuation?

Mike White, CPA and Advisor for CLA (CliftonLarsonAllen), is the go-to guy when it comes down to the nitty-gritty numbers involved in a practice sale. He joins the Closing the Deal podcast for a full breakdown on Quality of Earnings and getting your accounts in order for a super smooth sale.

We talk about what a Quality of Earnings report looks like, how dentists can prepare, and the biggest mistakes to avoid that could shave off dollars from your valuation figure. He shares real examples and figures that you need to know about, plus recommended resources to help you prepare for your sale and walk away with the best deal possible.

In This Episode:

• Why Mike’s experience makes him the go-to for accounting advice in dental practice sales
• What is a Quality of Earnings report?
• What goes into a QoE?
• Example figures from real practice sales
• How dentists can prepare for a QoE
• Advice for dentists who don’t have their accounting squeaky clean yet
• Most common mistakes to avoid before a sale
• What you need to do today to get your house in order
• How a QoE makes the negotiation process smoother
• Why Mike loves the Dental Pitch Brokerage community and conferences
• What you need to know about EBITDA add-backs

Resources:

• Follow Dental Pitch Brokerage on LinkedIn: https://www.linkedin.com/company/dentalpitch/
• Visit our website: https://dentalpitchbrokerage.com/
• Connect with Mike on LinkedIn: https://www.linkedin.com/in/michael-w-b80571113/

What really goes into a practice sale when working with a specialist brokerage firm? Get a behind-the-scenes look in this episode with Managing Director Jason Brown of Dental Pitch Brokerage and Oak Dental Partners, a DSO he’s grown to over 70 dental offices and counting!

Jason breaks down the full process of working with a broker and what the relationship with a top brokerage firm will mean for your practice sale. We look at what you should ask yourself before selling and how to know if you’re ready to hand over the reins, plus how to get your affairs in order before you start meeting buyers. Selling your practice and staying on is a delicate balance to get right, so we talk about how to find a buyer that’s the best possible fit for your firm’s culture and needs so that everybody wins.

In This Episode:

• An introduction to Jason
• Step one for those thinking of selling their practice
• A broker’s role after you decide to sell
• The process of meeting with buyers and finding the right one
• What you need to have before selling
• How we help dentists understand the value of their practice
• Advice for those hesitant of selling
• The best part about working with dentists

Resources

• Follow Dental Pitch Brokerage on LinkedIn: https://www.linkedin.com/company/dentalpitch/
• Visit our website: https://dentalpitchbrokerage.com/
• Connect with Jason LinkedIn: https://www.linkedin.com/in/jdejeanbrown/