January 28, 2016Podcast
Ep. 25 – Lessons from the The Dental Attorney That Tells You What You Need to Hear (Even if it`s not what you want to hear) with Jason Patrick Wood
You obviously chose to go into dentistry for a reason…
And for a lot of aspiring dentists it’s because the field is still growing.
Unfortunately, that makes plenty of people out in the wild look to exploit new (and existing) dentists as a chance to siphon hundreds of thousands of dollars and more.
Jason Patrick Wood is a partner in the Law Firm of Wood & Delgado and he see’s it happen everyday.
Lucky for us, he’s here to tell you exactly what to look for when acquiring a business or looking to partner with anyone.
“Buyer’s Checklist for Acquiring a Practice” – the questions you need to consider and have answered before acquiring a dental practice.
Here are a few things you’ll discover in today’s episode:
- The aspects of most dentists that get preyed upon and taken advantage of by others (and why this is a major issue in the industry)
- How to make sure you’re always getting the best deal possible (even with people you’ve done business with for years)
- Why running a dual brokerage is usually an illegal operation (and how to protect your dental business and partners)
- What separates the people who know their stuff from the pretenders (and what to do in order to spot both of these in the wild)
- The right way to interview anyone you’re bringing into your business – like banks, employees, and partners (and the questions you can ask to find red flags)
- How one little line in a contract could cause you to lose $100,000 when you got to sell your practice
- The critical way to think when acquiring a practice or a startup (and the pros and cons of both situations)
- Why you should never trust a demographics report from this specific kind of professional
- The biggest mistake being made when acquiring an existing dental practice (and what numbers to focus on to avoid this mistake)
- How to guarantee you and your families financial well being through retirement
- The type of mindset that plagues some dentists and ruins the dental industry
- Why females are highly targeted in the dental industry when it comes to dental practice ownership (and why it’s so important that women become dental practice owners)
- Why dentistry is the most “bankable” industry (and why this is critical to your livelihood)
- The after-hours and off-site conversations happening by Dental Professors with aspiring students (and what happened when the school found out)
- How to approach acquiring a dental practice (even if you’re new and fresh out of school)
If today’s episode struck a chord with you, then don’t miss out on today’s bonus kindly provided by Jason and his team.
It includes the questions you need to ask when acquiring a practice, and there were a few on there I hadn’t even considered.
After you check it out, submit it back to Jason for a FREE 15 minute consultation with him.
- “It’s impossible to serve two masters.”- Jason Wood
- “Just be careful. Always have your guard up.”- Jason Wood
- “Partnerships should be about shared sacrifice, shared reward, equal playing field for all.” – Jason Wood
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