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Your NATIONAL Dental Transition Advisor

We often get the question, “So, since you all are in Dallas, do most of your clients live in Texas?”  Or, “Can you help me even though I’m not in Texas or a surrounding state?” The answer to that last one, of course, is YES!

In the first 6 months of 2019, we have (or are in the process of helping) almost 90 clients across 36 states.  We know that where your practice is matters and know that transitioning a practice in Alaska is a whole different ballgame than transitioning one in DC. We pride ourselves in understanding our clients’ personal and geographical uniqueness as much as  we understand the financial picture of their dental practices. We may not have “boots on the ground” in every state, but we and our clients have found this doesn’t hinder us from finding you the right buyer or practice. In fact, we think national presence is actually one of our biggest assets! For those times that you need local resources such as a connection to a practice management solution or an equipment specialist, we have partners across the U.S. and can facilitate those connections to ensure you have what you need to be successful. 

As you can see, while we’re based in Dallas, we help clients across the country with buyer consulting, practice listing, seller consulting and valuation of their dental practices. We have learned that regardless of where you are geographically, and regardless if you’re a buyer or seller, we know it’s an emotional process and our team is here to guide you through what to expect. We’ve learned a lot about transition best practices over the years and we want to share that knowledge with you, whether it’s our podcasts on partnerships,  how to submit the letter of intent or deal with student loan debt, or providing resources such as the Buyer’s Checklist or Seller’s Transition Guide – there are an abundance of learning opportunities available on our website!

As we approach the second half of the year, it was rewarding for our team to take a step back and look at what we’ve accomplished so far. It’s been an exciting first half of 2019, and we look forward to seeing what our clients reach their goals in the second half of the year.

So, as you get some downtime this summer( and maybe begin planning for 2020 and beyond), please take advantage of our free educational materials and let us know how we can help you meet your transition goals – wherever you may be across the country!

Happy Summer!

NDP Book Shelf: Check Out Our Summer Reading List!

Do you plan to have your nose in a book this summer?

We asked our team to tell us their favorite professional (and not so professional) books for a summer reading round-up! So as you hit the beach (or wherever you go this summer) we hope you enjoy these reads as much as we did!

 

Carrie Edwards

Professional: Words that Change Minds: The 14 Patterns for Mastering the Language of Influence, by Shelle Rose Charvet

This is definitely my favorite professional development book – I love reading about the different patterns and figuring out which ones the people I know and work with fall into. In addition, I am learning what kind of language to use to influence each person – I’m looking forward to influencing my daughter to clean her room! Caveat: When I say this is my favorite, you need to know it’s my favorite in the same way that my father tells people I’m his favorite daughter… I’m his only daughter! 😉

Personal: The Host, by Stephanie Meyer

I love this book so much that I keep re-reading it. It’s about a post-apocalyptic world that has been taken over by a parasitic alien race, known as Souls, and follows one Soul’s journey when her human host’s consciousness refuses to allow the takeover of her body.  For me, this book checks all the boxes – Supernatural aspect, romance, plot twist and something new (i.e. not another vampire book). It’s an easy read and perfect for a day on the beach!

Catriona MacLachlan

Professional: Notorious RBG – The Life and Times of Ruth Bader Ginsburg by Irin Carmon

I’m drawn to books written by women, about women, encouraging women! Faced with obstacles, personal and professional, Ruth Bader Ginsburg was fearless in her pursuit for gender equality. If you’re looking to be inspired and motivated, this is an incredible book about the life and legacy of RBG.

Personal: A Convenient Hatred: The History of Antisemitism, by Phyllis Goldstein

The book reviews the struggles of the Jewish people through history in being recognized and accepted in various countries, not ostracized. I believe it’s important in the current climate of our world, to understand where some of this hatred has developed in order to change our attitudes. The book was eye opening and gave me a deeper understanding of what’s it’s like to walk in their shoes. It’s informative, power, and enlightening!

Christy Ratcliff 

Professional: Radical Candor, by Kim Scott

I actually did a whole book review of this one HERE.  This book about the benefits of direct communication continues to help me in both personal and professional life. Read my full review and get this one pronto!

Personal: A Discovery of Witches (All Souls Trilogy), by Deborah Harkness

I am not a sci-fi and fantasy book type of girl, but after a recent surgery a friend of mine handed me this book for my recovery down time and I couldn’t put it down. The main character, Diana Bishop, is from a strong line of powerful witches, but she doesn’t want to be and for years has suppressed her powers. During a chance encounter she discovers her powers can’t be suppressed and her journey to understand her powers and the history of her kind is made more dangerous (and exciting) with the help of a powerful vampire, Matthew Clairmont. Maybe it’s that she thinks being a witch is silly too, or maybe it’s the romance and action – I’m not sure why, but this one hooked me. This would be the perfect vacation read – whether on the beach or in the mountains!

Dawn Trinidad

Professional: Eat That Frog!: 21 Great Ways to Stop Procrastinating and Get More Done in Less Time, by Brian Tracy 

This bestseller challenges readers to address difficult tasks at work rather than passing the day with simple tasks. Tracy makes the case that work can only become easier and more productive once you’ve figuratively ‘eaten that frog’ on your schedule.   

Personal: The Right Side of History: How Reason and Moral Purpose Made the West Great, by Ben Shapiro

This was a book my husband Scott and I read together (he is a big fan of Shapiro), but I have a very nostalgic personality and tend to look fondly at the past. I am also very aware of how our everyday lives transform quickly… It seems like every facet of life is contentious for someone else. This book will inspire you to look at yourself and answer the question, “Am I contributing to a better tomorrow, or the reason why ‘the good old days’ are long gone, never to return?”

Collin Griffith

Professional: How to Win Friends and Influence People, by Dale Carnegie 

I liked this book because I was fascinated how it was written in 1937, and still can be used for professional development to this very day.  I thought this book was great because it teaches you how to express ideas and inspire people on an everyday basis that you meet throughout your career and personal life.

Personal: The Big Rich: The Rise and Fall of the Greatest Texas Oil Fortunes, by Bryan Burrough

I’m a big fan of history, and when you incorporate local ties to the story – I’m hooked.  This book is one of my favorites because the author writes in great detail how some of the greatest oil families from our past were built from nothing and would then rise to the point of influencing politics in Washington.  This book paints a detailed picture of the lives and histories of some of the families that made a name for themselves through the oil industry and how they influenced our local economies to this day.  This is an easy read and a one that you can put down and pick back up without really skipping a beat.

Feedback from the Field: Post-Graduation Goals

We are excited to report the results of our recent survey! We appreciate your feedback as it helps us provide you the most valuable education and services as you work toward practice ownership. Most of you told us your goal after graduation is to enter private practice as an associate with the plan to start a […]

NDP Book Shelf: Radical Candor

Radical Candor: Be a Kick-Ass Boss Without Losing your Humanity by Kim Scott Book review by Christy Ratcliff , CPA, CVA I’ll start this by saying I am not a “self-help” book kind of a girl.  I’m not against self-improvement, but generally find that most self help books tell me recycled ideas I have heard […]

What to Know about Private Equity Offers

NDP Founder and Cain Watters Partner Charles Loretto recently wrote an article for the Seattle Study Club Journal titled, “What You Need to Know Before Considering a Private Equity Offer.” In his role at Cain Watters and NDP, Charles is seeing more and more private practitioners receiving offers from and selling their practices to private equity […]

NDP Book Shelf: Who Moved My Cheese?

Who Moved my Cheese?: An A-mazing Way to Deal with Change in Your Work and in Your Life by Spencer Johnson Book review by Dawn Whitehurst, MBA, LVN I know too well that as young professionals enter the workforce, they are eager to take on the challenges of a new work environment and hope to […]

NDP Year in Review: 2018

It’s hard to believe it’s already been more than 13 years since NDP was formed in 2005 with the mission to help young dentists find and purchase a practice. As we reflect on how we’ve evolved and what we’ve accomplished, we are proud to have helped 75 clients across the country find success with practice listing, valuation, and buyer and seller consulting services this year. In 2018, we spread the message of ownership to thousands of young dentists across the country and coached hundreds of buyers and sellers as they prepared for a transition.

Coaching and Transition Consulting for the New Buyer
Buying a dental practice is one of the largest financial decisions a dentist will make, and our goal is to provide you the knowledge needed to fully understand the complex process. Just as each practice is unique, so is our consulting engagement with you. Regardless of your situation, NDP will provide a level of customized coaching and consulting services to adequately advise you for success.

Seller Transition and Practice Listing Services
We know it all comes down to the right time and the right person for a transition to be successful. We take the time to listen to our clients’ needs and then create a game plan that works for them. We know if we meet your goals, we’ll create a beneficial situation for both you and your buyer.

Our transition consulting services include everything from practice listings and valuations by a team of professionals and Certified Valuation Analysts through navigating negotiations, legal documents and everything in between. Just as with buyers, we customize our services to provide you as much or as little you need. Whether that’s getting advice, a big picture overview or a comprehensive nuts-to-bolts plan for your transition. 

Resources for Your Success

In 2018, we released a complimentary Seller’s Transition Guide and Buyer’s Checklist to help our customers prepare for a transition. We hope you found value in these resources and also hope you had the opportunity to listen to Transition Talk – our podcast providing guidance and real-life scenarios on the transition process. We value your opinion and love to hear when you have shared these resources with your colleagues!

As we enter into a new year with new goals, stay in touch by following us on Facebook or LinkedIn where we will continue to share educational content on all things dental transition related. And, be sure to let us know if there are topics you’d like to hear about on future episodes of Transition Talk. We look forward to supporting your success in 2019. Thank YOU for a great year!

TT – Ep 7 – The Letter of Intent

In today’s Transition Talk, we talked about one of the first steps in transitioning – the letter of intent! There are many ways to put this document together. It can be an email with bullets, it can be a simple word document, a broker provided template or it can be a legalese letter drafted by an […]