Dental Transition Planning
Many dentists spend their entire careers working towards the dream of retirement. They have great aspirations of spending more time with their family, traveling, doing dentistry for mission work, or teaching dentistry. Yet, when I ask dentists when they “plan” on retiring, the majority of the time they give me answers like “when it feels right”, “when I think I have enough money”, or “when my wife says it’s okay to come home”. What it amounts to is that they really do not have a plan.
Winston Churchill, who paraphrased Benjamin Franklin, said “he who fails to plan is planning to fail”. As your career advances, it makes sense to have a plan in place that will allow you to transition based on your terms and your plan. You don’t want to be near the end of your career and have a transition forced upon you, or not done the way you want. You want to maximize the return on your practice, bring on a buyer who will closely mirror your dentistry and your personality, and have your staff and patients treated as well as you have treated them.
If you are within 5 to 7 years, or over the age of 55, it is in your families, patients, staff, and your best interest to have a transition plan. Since July is normally a slow dental month, we are offering a free consultation along with a free Emergency Transition contact sheet for the month of July. Call us and we will set up a confidential, no-cost meeting to discuss putting a transition plan in place.