Investment Grade Practices: A Dentist Podcast

Investment Grade PracticesTM are designed to give you the lifestyle you enjoy today, while building an asset for tomorrow. Victoria Peterson, SsD helps dentists build practices that they love today while building value to secure their future.

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VictoriaPeterson

“The million-dollar associate should be the goal” – Dr. Victoria Peterson

You are in your early 40s, and you have owned your practice for about 10 years (or less). While the entire country talks about selling, your practice is on the rise and you’re finally able to enjoy a little bit of profit.

So what’s the smart move for a mid-career dentist?

    
• Invest in real estate?
    
• Pour more into your 401-k?
    
• Sell to private equity now while the money is good?

The answers will vary depending on what your life goals are… but the one thing all of the guests of this episode agree on: The greatest investment you can make is to double down on the operational excellence of your practice.

In this episode of the Investment Grade Practices Podcast, host Dr. Victoria Peterson is joined by ProFi2020 Partner and Strategic Growth Financial Consultant Chris Sands; IGP Business Advisor Joanne Miles, MAADOM, RDA; and owner of Kuna Dental (Kuna, Idaho) Dr. Daniel Haws. Following a mastermind, Dr. Haws asked questions about his strategy and what he should be focusing on as a dentist and as the owner of a dental practice. Buckle up, because you’re about to get a crash course in the importance of employing dental associates.

Among the dozens of priceless nuggets you’ll learn in this podcast, pay close attention to:

    
• The worth of your business when it’s less reliant on you
    
• Risk diversification, debt payment and self-insurance of associates
    
• Scaling your practice means maximizing production of your associates
    
• The risks of the solo-doctor practice