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Sudden Wealth: What Should You Do If You Strike It Rich?
If a few million dollars—or more—fell into your lap tomorrow, what would you do?  Sudden wealth isn’t a common or reliable way to get rich, but it can and does happen. Some big drivers of sudden wealth include:  ·   Receiving a substantial inheritance  ·   Getting a major settlement in a divorce...  Read More
Qualified Opportunity Funds
The latest way to do well by doing good Impact investing—using wealth to create positive change in the world while also benefiting financially—has become increasingly popular, as the idea of “doing well by doing good” has gained traction among investors. Now there’s a new type of impact...  Read More
Here’s Why You Need a ‘Business Plan’ for Your Family
When business owners start a new venture or seek out funding, they always create a detailed business plan first. But chances are, most parents have never once thought about creating a similar type of plan for their most important asset: their families.  Your family may not be a business, but...  Read More
The Value of Multigenerational Family Meetings
If you’ve amassed sizable wealth, or are on the right path and getting there, it may be time to consider how to pass on some of that money to children and grandchildren—without creating big problems that could harm their futures and destroy family harmony.  The fact is, family wealth—how it’s...  Read More
The Importance of Personal Umbrella Policies
What would happen if you or your child caused a car accident that resulted in serious injuries or the deaths of others?  How would you pay for the treatment and damages of someone who was hurt in your home and claimed negligence? What happens when they claim to have suffered greatly because of...  Read More
Do Landlords Give Concessions on Renewals?
In working with thousands of healthcare professionals on lease renewals, one of the most common statements we hear is: “My landlord told me they don’t give lease renewal concessions” or “I’ve never gotten any concessions on a renewal from my landlord in the past”. From a landlord’s perspective, the...  Read More
Buying a Dental Practice, There’s More To It Than Price-Part V: Buyins/Buyouts/Mergers & Special Situations
My past blog talked about non-traditional GP practices and how you should approach them, this blog will talk about the “large practice” GP practices and the various ways you’ll need to deal with them. What do I mean by “large practice”?  The “large practice” is one which usually requires at least...  Read More
A Common Sense Guide to Heart Health
It’s been said that a man with health has a thousand dreams, while a man with no health has but one. Don’t you owe it to yourself, your family, your career and your community to have not only a thousand dreams, but also the energy and engagement to make them happen?  Few would argue that, to live...  Read More
Insightful Questions That Can Ramp Up Your Success
Want to see some amazing results in your life? Ask questions and then listen well. We have discovered that a disproportionate number of the most successful people consistently and systematically use an approach known as insightful questioning to build rapport with other people in ways that...  Read More
Buying a Dental Practice, There’s More To It Than Price-Part III: Buyins/Buyouts/Mergers & Special Situations
Recap from Townie 2018 Presentation Blog #2 talked about those “special” situation practices like the fixer-upper, the recent start-up, the refurbished practice and the vacant space practice. I wanted to share two actual case studies with you, one with the recent start-up and the other with the...  Read More
Smart Ways to Take Control of a Trust
Many successful families use trusts to minimize taxes, transfer wealth and protect assets from creditors and others. You may have already set up a trust, or you may hold an inheritance you received in a trust that was created decades ago.  Trouble is, too many families relinquish more control...  Read More
What to Do When Your Doctor Has Bad News
It’s what no one ever wants to hear: “The test results have come back positive.”  And yet it’s quite likely that you, a loved one or both will one day be given a serious health diagnosis that throws your world into uncertainty, confusion and fear. That means you have two choices:  • Wish and...  Read More
Buying a Dental Practice: There’s More to it Than Price-Part II- Buyins/Buyouts/Mergers & Special Situations
So my 2014 townie presentation covered the buying process of the typical general dentistry practice, however, what if it’s NOT the typical general dentistry practice? What about the practice that someone started 3-5 years ago that never quite blossomed (the recent start-up)? What about the practice...  Read More
Buying a Dental Practice: There’s More to it Than Price-Part II- Buyins\Buyouts\Mergers & Special Situations
I had the honor of being invited to lecture at the 2018 townie mtg in mid-April in Orlando FL. This was the 4th time they’ve asked me to lecture, and I decided to dive a little deeper into unique situations as it relates to buying a dental practice. My 2014 lecture was an overview of the process,...  Read More
It’s Time to Get Serious About Your Happiness
There’s a great quote by Jean-Paul Sartre: “We are our choices.” When it comes to our happiness and our overall success in life, that’s truer than you might have realized.  Taking time to examine the choices you make in your life and work each day and over the long term to make sure they are...  Read More
Buying a Dental Practice Is About More Than Just Price Recap
Are you considering buying a dental practice and aren’t sure where to start? In 2014, Naden/Lean Partner Tim Lott presented Part One of a seminar on “Buying a Dental Practice: It’s Not Just About the Price.” In it, he discussed financial due diligence, what information to ask for, how to conduct...  Read More
Office Lease Negotiations: 3 Pitfalls to Avoid | Part 3
Understanding the market, the correct timing and comparable business deal points positions you and your agent to begin the process with a high-level of anticipation for success.  However, any preparation will quickly amount to nothing if you do not have a focused negotiation strategy. Pitfall...  Read More
Savvy Negotiating: To Get the Moon, ask for the Stars
One key way to build serious wealth—whether in a business or your everyday life—is to effectively and consistently negotiate deals that are good for you and your bottom line. Ideally, everyone walks away from a negotiation feeling good about the outcome—a win-win scenario. But ultimately, to be...  Read More
Office Lease Negotiations: 3 Pitfalls to Avoid | Part 2
For most practices, the cost of leasing office space is typically their second-highest expense after payroll. With this much at stake, it is imperative to achieve the best possible terms during new-lease or lease-renewal negotiations to maximize profitability.  Pitfall #2: Unawareness of...  Read More
Office Lease Negotiations: 3 Pitfalls to Avoid | Part 1
Over 80% of healthcare practices lease their office space. The location, economics and impression their office makes on patients are significant factors in patient referrals and return visits, especially in a competitive market. Several aspects of a lease can even impact patient care and staff...  Read More
Timing Your Next Real Estate Transaction - Part 3: Just Right
It takes expert planning and foresight to begin a commercial real estate transaction at the right time.  The majority of professionals are not aware of the ideal timeframes for each type of transaction and different problems arise when starting a transaction too early or too late. Just Right If you...  Read More
Timing Your Next Real Estate Transaction - Part 2: Too Late
Most healthcare professionals understand that opening a new office or relocating an office doesn’t happen overnight, but the majority of professionals are not aware of the ideal timeframes for each type of transaction. Too Late When a transaction begins too late, an entirely new set of problems...  Read More
Timing Your Next Real Estate Transaction - Part 1: Too Early
Every commercial real estate transaction has an ideal timeframe to begin the process. Most healthcare professionals understand that opening a new office or relocating an office doesn’t happen overnight, but the majority of professionals are not aware of the ideal timeframes for each type of...  Read More
Five Big Mistakes Executors Make—and How to Avoid Them
Being named the executor of a family member’s (or other loved one’s) estate is, in many ways, an honor. The decision shows that the person saw you as a highly trustworthy, capable person of integrity.  But it’s also a major responsibility that can quickly become a burden if you aren’t set up to...  Read More
The Super Rich Stress Test Their Financial Plans— and So Should You!
The Super Rich (those with a net worth of $500 million or more) who have family offices typically engage a sizable lineup of professional advisors to help them create and implement financial plans. To help ensure those plans are both state-of-the-art as well as in line with their needs and wants,...  Read More
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