Podcast Episode #499: You Are More Than a Number – Selling Your Practice and Leaving Dentistry – David Porritt
Episode #499: Dentist Freedom Blueprint Podcast
You Are More Than a Number – Selling Your Practice and Leaving Dentistry – David Porritt
What does success look like after dentistry? If you are considering a career transition or selling your practice, making the right decisions will significantly impact your options. With over 35 years of business and dental industry experience, Dr. David Porritt of the Productive Dentist Academy joins the show to share what it takes to ensure you have the right experts on your side to make the best decision for your practice and life after selling.
Listen in to hear David’s insight into the drawbacks of losing control of your practice and how to combat the fear of missing out on more money, a bigger lifestyle, an expedited sale, or an outcome that wouldn’t fit your life anyway. You will also get David’s point of view on how much it’s worth to hold out for higher capital from the sale, what to pay attention to when selling your practice, and more.
Minute Markers:
2:25 – The relevance of doctors’ happiness in their practices.
4:43 – The importance of having the right experts on your side.
12:14 – Why it’s so easy to get distracted by the wrong things when selling your practice and what to pay attention to.
18:01 – How burnout and dissatisfaction are changing and affecting dentists.
22:46 – What you need to know about yourself and ask about your future before considering leaving your practice.
25:51 –Advice all practice owners need to hear.
27:45 – How to avoid the fear of missing out.
Featured on the Show:
David Porritt: LinkedIn | Email
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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.