This is a Monumental Transition, not a Transaction
For most practice owners, selling their practice is the single biggest professional transition of their life. It’s a complex emotional journey that involves way more than money. If an advisor says to you, “Oh you’ll figure it out. You’ll have plenty of money.” That’s not a good advisor. Run away. They are only focused on the transaction and don’t care enough about you.
In this episode, we’re talking all about advisors. It’s a topic we’re passionate about and so is our special guest, Denise Logan.
Denise is on a mission to help sellers and advisors to understand the change that’s happening, and to increase the number of advisors that have the ability to care about people, along with transactions. Weaving together her background as a lawyer, mental health professional and business owner has enabled Denise to deftly guide hundreds of business owners and their professional teams as they navigate the complex emotional journey of selling your business and letting go into your own version of what’s next.
Denise’s two decades of research and thought leadership on the subjects of work, money and meaning and how executives navigate the waters of transition and reclaim their sense of identity outside of their business has made her a popular speaker to audiences on three continents and a frequent commentator on the subjects of business succession planning, transition and legacy. She has also provided advanced training to advisors employed by some of the world’s largest financial institutions, law firms and accounting firms, helping their clients successfully transition their businesses to new owners. And she is the author of the book, The Seller’s Journey.
Questions addressed in this episode:
- How would you advise a seller on selecting a practice broker that cares for their practice transition, as much as the transaction itself?
- What would you say is the percentage of dental practice brokers that are able to put the seller before themselves in a transaction?
- What are your thoughts about practice owners selling their practices directly themselves, without a qualified broker?
- When a seller does not use a qualified broker who can build a good market for their practice? How does that playout with seller emotions and a seller’s prospects for a good outcome?
- What should practice sellers be looking for in attorneys?
- How can practice sellers and their brokers best work with attorneys to manage expectations of both their client/sellers and those of buyers?
Contact Denise online at: deniselogan.com, or email her at: email@example.com. Denise’s book, The Seller’s Journey is available on her website, and on Kindle and Audible.
Learn about dental practice transition specialists in your area by messaging: firstname.lastname@example.org
Long in the Tooth provides non-clinical gems of wisdom for older dental practice owners. Learn more about this podcast at: longinthetooth.info