Shared Practices | Your Dental Roadmap through Practice Ownership

Merlin here. I have our very own Dr. Richard Low back on the show. He's asking me some pointed questions about my transition from dental school SF to practicing dentistry in Charlotte, North Carolina. We're talking about the excitement of moving across the country, my clinical preparedness, and how much experience I want before owning a practice. I also talk about my proactive approach to finding the right practice, including sending mailers and building professional relationships, and my flexible timeline for achieving ownership. Here's what we talk about: 00:00 - Introduction and Merlin's Transition 00:00:50 - Missing San Francisco 00:01:45 - Dental School Experience and Preparedness 00:03:30 - Goals and Next Steps Post-Graduation 00:07:15 - Decision to Delay Ownership 00:11:50 - Open-Minded Approach to Career 00:15:45 - Response to Mailers and Networking 00:21:20 - Evaluating Practice Opportunities 00:25:30 - Building Relationships and Professional Growth 00:31:45 - Final Thoughts and Advice for New Graduates

I'm sharing how I learned to navigate seasonal slow downs in practices. Shared Practices Coach Danielle Kramer and I talk about the common issue of slow patient flow in September and October (AKA Sucktember). Danielle talks about using this downtime for crucial office tasks like inventory management and team training. Danielle and I talk about: 00:00:00 - Introduction and Danielle’s Unique Recording Setup 00:00:40 - Understanding the September Slowdown 00:01:31 - Danielle’s Insights on Seasonal Slowdowns 00:02:26 - Richard's Personal Experience with Seasonal Dips 00:05:19 - Proactive Strategies for Retention and Reactivation 00:09:58 - Importance of Marketing Ahead of Slow Seasons 00:13:21 - Balancing Time Off and Office Productivity 00:18:39 - Creating Effective SOPs and Training Protocols 00:24:30 - Organizing Inventory and Office Maintenance 00:28:50 - Wrapping Up: Collaborative Planning for Success

Richard and George talk about the critical legal needs every dentist faces. Everywhere from acquiring a practice to exiting (and even what we learned forming a DSO). Joined by Hunter Altvater, the lead attorney at Shared Practices, they talk about the importance of clear legal documents, understanding the intricacies of associate agreements, and the value of fixed fee legal services.

Dr. Scott Smith shares his journey from associate to successful practice owner. Our original episode with Dr. Smith aired February 8, 2012. It was Season 6 episode 26. In this follow-up two-parter, Dr. Smith shares his insights on rural dentistry, maximizing profitability, and balancing work with personal life. Learn about the challenges of staffing, managing multiple practices, and the importance of strategic financial planning. Dr. Scott Smith: 801-529-6121

Richard asks George about associate compensation and equity. They talk about different compensation models, managing expectations, and--this part is important--the entrepreneurial spectrum of associates. They cover how market conditions and practice size influence strategies, the importance of guaranteed compensation, retention strategies, and finally, the reality of ultimately replacing associates. Leave a note for Richard to ask George something: Richard@SharedPractices.com

Caitlin and Richard talk about evaluating and improving leadership skills. Today we're emphasizing self-reflection, personal development, and nurturing future leaders. We'll hit on practical strategies like using checklists, encouraging team feedback, and managing team dynamics.

Dr. Scott Smith shares his journey from associate to successful practice owner. Our original episode with Dr. Smith aired February 8, 2012. It was Season 6 episode 26. In this follow-up two-parter, Dr. Smith shares his insights on rural dentistry, maximizing profitability, and balancing work with personal life. Learn about the challenges of staffing, managing multiple practices, and the importance of strategic financial planning. Dr. Scott Smith: 801-529-6121

Richard and George talk about marketing your practice. The do's and the don't's. George would know. He's spent an inordinate amount of money trying out different marketing tactics for his own practice in Phoenix. Learn how to maximize your marketing ROI, choose the right marketing firm, and understand the importance of patient reviews, Google ads, and strategic direct mail campaigns.

Richard and Traci are joined by Dr. Amanda Reimer Chang. She just went from an associate to being the proud owner of a rapidly growing practice. Discover how Amanda (and Traci) made it happen.

Merlin Erickson and Dr. Richard Low team up on The Pursuit of Ownership. Today we dig into the challenges of being an executive with ADHD. Richard shares his personal journey, revealing how he turned an executive function disorder into a strength. From practical tips to surprising insights, learn how to turn potential setbacks into strengths and achieve success in leadership and dental practice ownership. Truly a candid discussion on thriving with ADHD in the professional world.

Dr. Matt Ford is joined by dental students (and Analytics-based Pre-ownership attendees) Mohammed and Santino in Scottsdale, Arizona. We talk about the steps to transitioning from dental school to practice ownership. Mohammed and Santino talk about their firsthand experiences, financial literacy, team culture, and strategic planning.

Richard Low and Caitlin dig into the metrics that matter when assessing a dentist's performance. We're looking at the often-overlooked topic of self-evaluation and identifying, one of our favorite works here at Shared Practices: bottlenecks that may be messing up your growth.

Our very own Dr. Matt Ford and soon-to-be Dr. Merlin Erickson talk with special guest Nik. They talk about the grueling (but worth it) road from dental school straight to practice ownership. Learn financing specifics, the importance of building a stable patient base, and probably most of all: strategic patience.

Ask George is back again! Today's all about practice reinvestment. Richard and George talk about the strategies and nuances of maximizing returns with your practice. This is for solos, those transitioning to a group, or those running a large group already. You'll learn where to put your money for the best ROI. From marketing and team development to technology upgrades and coaching, discover how to make smart, impactful decisions where it matters most.

Richard and Caitlin talk about the transformative power of the Analytics-Based Office Management (ABOM) course. Today we're going deep on: insights on team development, hiring strategies, and the qualities of an effective office manager. Take notes - today you're getting practical and tactical tips for getting better leadership within your team.

Merlin Erickson continues his exploration of the cutting-edge of dental financing with Steve Steinbrunner from Provide. Discover how fintech is transforming the way dentists secure loans, the importance of peer support, and the strategic insights on navigating financial challenges in the dental industry.

Richard and George reunite to dissect the financial intricacies of growing dental practices. Scaling hurts. It's painful. Just don't make it more painful that it has to be. From transitioning from a solo practitioner to managing a multi-provider enterprise, there's a balance between production-driven strategies and cost-effective management. Listen up and get the secrets--straight from George.

Do you have an appetite for expansion? Do you really, actually want it? Our anonymous guest "Dr. Brown" shares his experience with ownership, whether he actually wants to expand, and the key aspects Richard digs into to find out exactly how Dr. Brown can make it happen.

Merlin Erickson explores the cutting-edge of dental financing with Steve Steinbrunner from Provide. Discover how fintech is transforming the way dentists secure loans, the importance of peer support, and the strategic insights on navigating financial challenges in the dental industry.

This is a packed episode--all about Analytics-based Practice Management. George interviews former host Dr. Andrew Clingan and super-listener Dr. Graham Beard. Most dentists starting out spend years trudging through stupid, avoidable problems. Not Andrew. Not Graham. Why? Find out how they embrace analytics to run a practice--the right way. This is the new, proven way to run a practice. LINKS: Come to Analytics-based Practice Management Listen to the Billion Dollar Podcast Listen to the first Ask George episode