Ep. 25 – Lessons from the The Dental Attorney That Tells You What You Need to Hear (Even if it’s not what you want to hear) with Jason Patrick Wood

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You obviously chose to go into dentistry for a reason…

And for a lot of aspiring dentists it’s because the field is still growing.

Smart decision.

Unfortunately, that makes plenty of people out in the wild look to exploit new (and existing) dentists as a chance to siphon hundreds of thousands of dollars and more.

Jason Patrick Wood is a partner in the Law Firm of Wood & Delgado and he see’s it happen everyday.

Lucky for us, he’s here to tell you exactly what to look for when acquiring a business or looking to partner with anyone.

Click here to get today’s episode bonus:

“Buyer’s Checklist for Acquiring a Practice” – the questions you need to consider and have answered before acquiring a dental practice. 

Here are a few things you’ll discover in today’s episode:

  • The aspects of most dentists that get preyed upon and taken advantage of by others (and why this is a major issue in the industry)
  • How to make sure you’re always getting the best deal possible (even with people you’ve done business with for years)
  • Why running a dual brokerage is usually an illegal operation (and how to protect your dental business and partners)
  • What separates the people who know their stuff from the pretenders (and what to do in order to spot both of these in the wild)
  • The right way to interview anyone you’re bringing into your business – like banks, employees, and partners (and the questions you can ask to find red flags)
  • How one little line in a contract could cause you to lose $100,000 when you got to sell your practice
  • The critical way to think when acquiring a practice or a startup (and the pros and cons of both situations)
  • Why you should never trust a demographics report from this specific kind of professional
  • The biggest mistake being made when acquiring an existing dental practice (and what numbers to focus on to avoid this mistake)
  • How to guarantee you and your families financial well being through retirement
  • The type of mindset that plagues some dentists and ruins the dental industry
  • Why females are highly targeted in the dental industry when it comes to dental practice ownership (and why it’s so important that women become dental practice owners)
  • Why dentistry is the most “bankable” industry (and why this is critical to your livelihood)
  • The after-hours and off-site conversations happening by Dental Professors with aspiring students (and what happened when the school found out)
  • How to approach acquiring a dental practice (even if you’re new and fresh out of school)

If today’s episode struck a chord with you, then don’t miss out on today’s bonus kindly provided by Jason and his team.

It includes the questions you need to ask when acquiring a practice, and there were a few on there I hadn’t even considered.

Click here to access that now.

After you check it out, submit it back to Jason for a FREE 15 minute consultation with him.

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Quotes:

  • “It’s impossible to serve two masters.”- Jason Wood
  • “Just be careful. Always have your guard up.”- Jason Wood
  • “Partnerships should be about shared sacrifice, shared reward, equal playing field for all.” – Jason Wood

Resources:

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Do you need more help tracking your practice's performance?  DentistMetrics specializes in helping dentists worry less about the business side of dentistry by providing timely, action packed advice on how to improve their practice's results. Contact us at jonathan@dentistmetrics.com, click here, or visit us at any of the social sites we frequent to schedule a consultation!
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