Today, I want to break down a few important aspects on this topic. We’ll hit on one critical principle and another strategic aspect of what owning, creating, and operating a Built To Sell Practice is all about.
*Just in case you missed it, next week, I’m taking you on a journey through exactly how to set yourself up to have and achieve a built to sell practice. You truly can practice on demand and make the money you deserve – all without being concerned of your stage in life, the forces of the economy, nor the trends of the industry that are trying to tell you how to practice.
You can join me next week for this special advanced online presentation right here:
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Now, let me be clear, ‘built to sell’ is about more than just having an exit strategy. Thought that is part of it and it is the responsible thing to do. There is a fallacy that says it’s too early to be thinking about ‘selling your practice’ or ‘retiring’ or ‘slowing down’ or whatever – when in fact it is never too early to have an idea about how you want the future to be.
The fact is the possibilities of the future are only possible because of the decisions and actions that are made and taken today.
You might want to read that sentence again. Live for today absolutely, but you do have to be thinking about and making decisions with tomorrow in mind (as long as you have any aspirations or goals bigger than the ones you are already experiencing).
Here is the more important aspects and really the point of what I’m talking about… it is simply to decide to BE IN CONTROL over your own future and that means putting yourself in a position to choose how, when, why, and for what amount you want to transition out of full time dentistry.
You thought I was going to say “sell” – but you see that is the power of a built to sell practice, it’s that you don’t have to.
And that may be the greater reason to focus on it than the actual ‘sales or exit strategy’ unless of course you are ready right now to do it.
You might be ready for another career, the kids might be through college and the pressure is gone, you might want to start traveling more, you might want to spend more time with your grandkids, you might have other hobbies or interests or ways to give back or more missions to go on while you still are capable.
Your list would be long if I forced you to write out everything you’d do if you didn’t have to wake up and walk into the office more often than not.
It is a fun thing to think about, isn’t it? It might also be a scary thing.
The good news is: you’ll know when you know and the key is making sure that it’s not too late to do something about it.
Before I go another step further, let me assure you of something that you might have in the back of your mind, you might be thinking that it has to be ‘all or nothing’ – you have to own it or you have to sell it.
Not true. Not in the very least.
There are very specific and exciting alternatives to that. On that note, one of the alternatives is the possibility of an Associate Doctor, but that is in fact just one alternative… once again it is not the only answer.
You know me better than that. I’m not here to put you in a box, to limit your options, and I certainly don’t come bearing a one-size-fits-all approach or any cookie cutter exit strategies that I’m going to force you into.
That is the beauty of this and in fact it is the very reason why I decided to put together this advanced training because a BUILT TO SELL PRACTICE is often NOT what you think it is. There are absolutely different methods and approaches to getting what you want out of the next few years or decades of your practice life and career if you are proactive, clear minded, and realistic.
Get one of the few spots that remain for my advanced Built To Sell Practice Training…
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So, if it’s not just about the exit, what is it about?
Funny you should ask. That’s a great question with a very straightforward answer.
It is of course – to address the reality of this decision – about one overarching factor in every exit decision…
“Do we need the money?” Or perhaps better said, “How much money do we need?”
The real question becomes: have you arrived at a point in your career where you can work by choice and not by necessity; which allows you to hold all of the cards.
You may be sitting here today having already reached that point and of course the market has been good to you over the past few years so you’ve gotten a great boost.
If you’ve made it to your lifestyle number but you still have some fight in you, a fire in your belly, the desire to do well, the passion for the challenge, and the love for dentistry and helping patients then you are ahead of the game. So it’s quite possible you simply have some unfinished business to tend to. Perhaps your greater concern is what happens after you are there and making sure your team and patients are well cared for. These are all great considerations.
On the flip side, you might be sitting there saying honestly to yourself that you couldn’t stop, slow down, retire if you wanted to because you haven’t reached that point yet.
And both realities are reasons why a Built To Sell Practice matters so much. Both realities need the same two things…
Profitability
And
Predictability
There is no better way to grow your practice profitability than with the Built To Sell cornerstones in place. To say it bluntly, a profitable practice makes your practice a vehicle to get you to your financial objectives faster and then you have entirely different options on the table for the present and the future.
Profit, in fact, is power.
I choose only to speak the truth. And that is it. It doesn’t mean that profit is the most important thing in dentistry, we know that. There is another P word and they all have first names and that’s why you do what you do every day.
None the less, we can help them (actually even more of them) without sacrificing your life, time, skills, investment, or profit.
When you embrace the components of a Built To Sell Practice, you get the best of all worlds, including profit, choices, control, and the ability to design your own future.
Who wouldn’t want that?
If you are ready to cross that line, if you are ready to make your practice – as a business – count like never before and begin working on your future (instead of the daily repetitive grind), then you should join me for my advanced Built To Sell Practice Presentation next week…
Register For The Live Webinar Training: Built To Sell Practice >>>
There is another extra special reason why achieving this matters. It happens to be the most common request I get from Doctors and it’s one of the first things I will touch on during our Training.
I can tell you, it’s not what you think, but it will speak to you and give you greater motivation than anything else. And we all can use a little extra motivation.
I’d say this is the most worthy mission of Practice Ownership and it’s the one that has the greatest impact on all of the other people who benefit and make possible what you do. Let’s do this for them and for you too.
Register For The Live Webinar Training: Built To Sell Practice >>>
