“Why are you selling? You might be right on the cusp of a really valuable practice.” ~Dr. Bruce B. Baird
I’ve been talking to a lot of dentists in their mid 30s and 40s who are selling their practices. Now it makes sense for people my age to be selling our practices – we are ready for retirement – but it’s concerning to me that we’re seeing this trend of younger dentists selling. I know they are not getting the value their practices merit.
When they talk to me about their reasons for selling, this is what I’m hearing:
- I’m burned out
- I have a physical problem that is keeping me from practicing clinically
- I’m worried about missing out on this opportunity to sell
- I love clinical, but I’m struggling with my business
These reasons are so tragic to me, because the answer to these is “I’m going to sell my practice.” The sad truth is if you’re selling for any of these reasons you are not getting the value out of your practice that you should.
Selling shouldn’t be the answer. All these problems have workable solutions. There are ways to build a profitable business, maximize your practice value, and sell at a time that gives you the financial security you deserve. The problem is, most doctors don’t know they have options.
I want to see every independent dentist successful. I know with the right effort, thought process, and coaching you can increase your value year over year, no matter your circumstances, so you can get the value from your practice that will support your future.
So today I am starting a series on the right time to sell your dental practice by exploring:
- Why you want to sell your practice
- What your options are
- Ideas to increase the value of your business
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https://productivedentist.com/podcasts/the-productive-dentist-podcast/episode-123-should-i-sell-my-dental-practice-part-1/
Should I Sell My Dental Practice? (Part 1)