Podcast Episode #454: Solo to Group to DSO – Which Path Is Right for You? – Perrin DesPortes (Part 2)
Episode #454: Dentist Freedom Blueprint Podcast
Solo to Group to DSO – Which Path Is Right for You? – Perrin DesPortes (Part 2)
This episode is the second part of a conversation I started last week with Perrin DesPortes. (If you missed last week, be sure to go back and listen to our conversation regarding your potential business exit plan.) In this episode, we will be covering the effects of the rising cost of capital on the marketplace.
With the likelihood of a recession by the end of this year, it is vital to have the tools and frameworks necessary to make the best decisions for preserving and protecting your wealth. Listen in to hear Perrin give powerful business and investment guiding principles regarding credit, debt, lending, group practices, and more.
Minute Markers:
1:40 – The changes in the real estate market lately and what this means for you.
5:54 – The credit market and how the dental industry is affected by it.
8:05 – What are the terms for growing a practice beyond two locations?
10:21 – What you should be doing in your practice to survive the recession.
13:23 – The biggest challenge to owning and upgrading a practice.
16:12 – What a discovery day is and why it’s valuable.
17:34 – How cash flow can cripple you and what it means to build a group practice.
19:37 – How to deal with associate turnover and Perrin’s best recruiting tips.
23:14 – More options that are outside of the multi-practice route.
Featured on the Show:
Perrin DesPortes: LinkedIn | Website | Email
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
1. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.