Challenges that we see many dental professionals experience:
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Not sure how to start planning to protect, grow, and eventually retire (or sell their practice) on their terms.
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Reacting to different financial decisions, instead of being proactive.
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Relying on the future sale of the practice for retirement with no clarity on what income they can expect throughout retirement.
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Reduced clarity on where to invest and how to grow assets for retirement.
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Professionals giving opinions and guidance without seeing the bigger picture
What we do:
Meet to Learn About Your Plan, and Help You Dream
Dental professionals and practice owners can be so busy that they do not dedicate enough time to considering what they want their retirement to look like. If they own their practice, have they slowed down enough to think about what they want from their business? You spend so much time, money, and invest your life into building a successful career. How does all that work together when you want to get out of the business and work on other hobbies or work on your own terms? We spend time to talk about what steps you have taken, organize your thoughts on what you truly want to accomplish, and lay out the next steps for us to work together.
Work with a Personal Financial Assistant to Organize Your Business and Personal Finances
Your finances might look like the junk drawer in your home or business. How do you make efficient financial decisions when all the pieces of your business and personal finances live in different places? You will receive one-on-one time with a financial assistant to organize all your finances into one spot.
Review and Adjust to Help Protect the Risks in Your Business and Personal Finances
As you build up assets, and/or grow your practice, and go about your daily life, many risks are present. Often you might find risks that you didn’t even know about or how a specific risk impacted your ability to grow and sell the practice. We touch on the purpose for particular insurances, documents, and how to take that step to help get you fully protected from most unknowns.
Structure and Implement a Plan on How to Get Your Practice to Save for You
You might find that the practice's bank accounts have a lot of cash building up inside. Most people’s initial reaction is to pay off personal debt or maybe expand the practice. Your company should not be the source of your wealth for retirement but the main contributor to building up your wealth. Inside your business, there exists dead cash and new business profits. We want to help you clarify what should stay in the company, what should be taken personally, and how the practice's value can be increased the right way.
Determine How You Want to Eventually Sell Your Practice
You may have gotten into business to make money and be great at what you do. What is your plan to get out of the practice in the future? Many wait until the last moment because they are burnt out, but the longer you wait, the fewer options there are. When we can plan these things in advance, you can decide how you want to leave on your own terms. And if you are an associate, we can help get your finances organized for a successful retirement.
Review How You’re Engaging and Growing the Practice through Your Team
Have you considered offering perks and benefits to your team? If you do, how would you categorize them when you think about recruiting new talent, rewarding your team based on what they can control, and retaining those that can change the culture or cause the business profits to decline if they left? We spend time with you to understand and implement these plans.
VALUE DRIVERS
Get the white paper
Want to know what makes your practice attractive to future potential buyers? Download our complimentary white paper on value drivers.
Our Team
We bring over 100 years of combined industry experience to the table. It's our mission to help business owners grapple with the tough questions about how to protect, grow, and eventually exit their business on their terms.
Let's talk
Start up a conversation with us about the trajectory of your business.
2024-111111 Exp. 4/25