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 […]
Hey team! On Episode 6 of Transition Talk (and our Bonus Episode with Travis Hornsby!) we talked all things student loan debt. There is a ton of information out there – from repayment plans, refinancing, consolidation — it can be pretty overwhelming. In our research we found some solid sites with good information….. ADEA: https://www.adea.org/GoDental/Money_Matters/Types_of_loans.aspx […]
The Seller’s Transition Guide One of the largest financial assets a dentist owns is their dental practice. For most, it’s also one of their largest emotional assets as well. The “million-dollar” question is what is your practice worth and how do I transition it when I am ready? But other questions we see established […]
The Five Dysfunctions of a Team: A Leadership Fable by Patrick Lencioni, a review by Catriona MacLachlan Full disclosure: I am a wicked big Patriots fan – please don’t hold that against me! I come from a state where Tom Brady is considered a hero, and the Patriots are worshiped. The Patriots have set records […]
In Episode 4 of Transition Talk, we discussed when, and more importantly, HOW, to ask for the financials and operational data of the practice opportunity. Once you have practiced your spiel and are ready to ask it’s important to know what to ask for. Our initial request list, which we use to give you a […]
Hey guys! If you listened to Ep. 3 of Transition Talk you know we talked all about the interview process and what TO and what NOT to do and say. If you missed it, head on over to our Podcast page to listen. In reality, the way you communicate during that first interview really shouldn’t […]
Hey guys! On Episode 2 of Transition Talk we discussed how to find the right ownership opportunity. Sometimes it’s easy, and where you ultimately want to go geographically there are some great opportunities. Other times….that isn’t quite the case. We are big fans of marketing yourself to find YOUR opportunity – if you don’t no one […]
Don’t let your student debt load crush your ownership dreams According to the American Dental Education Association the average dental school debt per graduating senior is $287,331. That’s a 72% increase over the last decade and it doesn’t even take into account the cost of a residency. At NDP we often see debts of $400,000 […]
In our world, much like in yours, people are our greatest asset. Our organization recently had a speaker at a staff development meeting; his name was Mr. Michael Allosso and his message was how to be “You on Your Best Day”. It was a fascinating topic, and honestly, many of us left with a bit […]
This article is featured in the Wells Fargo Practice Finance Resource Library The question of whether to buy or not to buy (or sell) the accounts receivable in a dental practice transition is one of the more common questions we get once the material terms of the transition have been agreed upon. What is […]
