March 12, 2016
first year of your new dental practice

Surviving the first year of your new dental practice

Surviving the first year of your new dental practice Young dentists know a lot about teeth—taking care of them, repairing them, making them look beautiful. What these young professionals don’t know a lot about is running a successful business. If this describes you, don’t worry; help is available!! Let’s say you’re fresh out of residency and you just bought your own practice. (Finding and purchasing a dental practice is another process you shouldn’t tackle without guidance; we go into the details here). Heritage Investors has helped many young dentists get off on the right foot. You don’t need to wade into the business world without guidance, and there’s no reason why you should. Your new practice: Year 1. Your first year in business won’t just be about taking care of teeth; that will be the easy part. That first year will also be a crash course in business: planning, budgeting, accounting, tax strategies, patient relations, employee relations. We won’t turn you into an accountant, but we’ll make sure you’re comfortable around a spreadsheet. We won’t turn you into a diplomat, but you’ll come out of the experience better able to get along with the people around you. Here are a […]
March 3, 2016
5 pitfalls of buying a dental practice

Buying a New Dental Practice? Avoid These 5 Pitfalls

To buy a new dental practice and learn to run it successfully, you’ll have to digest a lot of information in very little time. Along the way, you’re bound to make mistakes, but with guidance, you can avoid the most damaging. Here are five pieces of advice to keep you from getting too battered and bruised as you climb your very steep learning curve. Don’t buy if you’re not ready. You can be a brilliant young dentist and still not be ready to buy your own practice. The reasons will probably be financial: If you left school with a lot of credit card debt, for instance, you may be better off taking a few months and shoring up your personal finances before you take on major new debt. Don’t alienate your new staff. Unless your dental school offered an education in employee relations, you will want to go into your new business with a light touch, especially at first. If you did learn about employee relations, then you already know to step softly. Getting up to speed with your new practice will be difficult under the best of circumstances. It will get much, much harder if you have to start out […]
February 18, 2016
So you want to buy a dental office

So you want to buy a dental office?

Should I? I want too? I NEED HELP!!