Podcast Episode #510: Planning for Your Practice Exit – What You Need to Know – Brannon Moncrief
Episode #510: Dentist Freedom Blueprint Podcast
Planning for Your Practice Exit – What You Need to Know – Brannon Moncrief
Today, Brannon Moncrief joins us again to discuss planning for your practice exit. Brannon works with McLerran & Associates and has been a banker, broker, and sale-side advisor for over 20 years. He’s seen it all when it comes to practice sales, DSO affiliations and private equity partnerships, so tune in to hear his powerful insights.
You’ll learn what to do first when considering exiting your practice—whether it is something you want to do sooner or later. Brannon also sheds light on how the current market affects the types of sales practice owners choose, why you have to be just as discerning as a buyer or seller, and the commonalities he has seen between practices that have successful transitions.
Minute Markers:
3:08 – The recent history of private equity and important benefits and drawbacks that come along with it.
7:17 – How Brannon’s team helps orchestrate and guide clients to final decisions for their practices.
12:44 – Understanding how much is enough.
15:27 – Key conversations to have before ever going to market.
17:49 – Surprising news about valuations.
20:37 – Why it’s so important to discern who is buying your practice.
23:32 – The commonalities between practices that succeed.
Featured on the Show:
Brannon Moncrief: Website | LinkedIn
How Much Is Enough by Dr. David Phelps
Request Your Discovery Call
Get your free copy of my new book
Sign up for my next webinar
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.