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 […]