The Shared Practices Podcast - Archives

Hunter is back! This week he takes us through two real practice purchase opportunities. We go in depth as Hunter explains his four-step practice evaluation process. We look at real numbers of two very different practices in order to determine a valuation range, find opportunities for practice growth and uncover red flags. This episode is full of great content and advice on practice analysis. We re...

This week we interview Ike Urling, a fourth year dental student at MWU. Ike shares with us his journey to finding an amazing off market practice in one of the most saturated areas of Arizona. Ike used methods that Jordan Thomas discusses in episode 2-21 to find his ideal practice. He also delves into a crucial aspect of making these opportunities a reality: relationship building! It has always bee...

Welcome to another episode of the Shared Practices Podcast! This week we're sharing a conversation we had a with a young doc from N.C., Dr. Jordan Thomas. We dive deep into Jordan's fascinating story of acquiring a practice immediately after graduating this summer. He gives us a lot of great tips and insight on his process for identifying where you want to practice, doing the demographics in a sys...

Welcome to another episode of the Shared Practices Podcast! We had a great interview this week with Dr. Justin Short, a dentist from the St. Louis area and owner of The Lifestyle Practice - a consulting and education company that helps you define and achieve your perfect lifestyle. We're taking a break this week from the jam-packed, intense-note-taking style episode to give you a show more about m...

Welcome to another episode of the Shared Practices Podcast! This one is a bit of a throwback to season one, but we know you're going to love it. We have on the show with us consultant/startup guru Jayme Amos, dentist Paul Goodman, and attorney Rob Montgomery. We get into a great discussion about some of the red flags and pitfalls to watch out for as an associate. We talk about the language of cont...

Welcome to another episode of the Shared Practices Podcast! We've invited Rich Andrus from Menlo Group onto the show to help us understand practice leases. We touch on a lot of topics in this episode but the three biggest subjects are how to do deal with a practice that already has a lease in place, creating a new lease if the seller doc wants to retain the real estate, and whether or not you shou...

Welcome to another episode of the Shared Practices Podcast! Today we are sharing with you part II of our conversation with Dave Alvey. This episode is all about SBA loans, so sit back, relax, and prepare your brain for some awesome lending information! Dave gives us a quick walk through of the difference between SBA loans and more traditional financing. We then get into the pros and cons of an SBA...

Welcome to another episode of the Shared Practices Podcast! Today we are joined by Dave Alvey, a commercial lender and founder of Atlantic Commercial Credit. To say Dave has a lot of experience and insight is an understatement! We have a wide ranging conversation that covers seller financing, practice qualities that are favorable to a new grad, the importance of borrower liquidity, among many othe...

Welcome to another episode of the Shared Practices Podcast! Today's guest is Rick Shneyder, a business banker working in Milwaukee at Bank of the West. We're really excited about sharing this episode with you. Rick lays out the broad strokes of factors that affect a new grad's ability to get financing and then, more broadly, how lending works for dentists. Key takeaways include the lending process...

Show Notes   Welcome to another episode of the Shared Practices Podcast! We invited dental consultant Marie Chatterley onto the show to talk with us about all things insurance. "Who wants to listen to people talking about insurance?" we can hear you thinking, but trust us - you don't want to miss Marie's advice about transitioning into a practice the right way. We talk a lot about insurance creden...

Show Notes Kiera Dent is a dental consultant and she joins us on today's episode of the Shared Practices Podcast. We talk a little about her journey into dentistry, but quickly jump into some practical advice for owners and soon-to-be owners. In this conversation we touch on how to find an associateship (that doesn't suck), learning how to communicate and educate patients in a way they can underst...

Welcome to another episode of the Shared Practices Podcast! We've got a return guest in Matt Porter, and we're glad we asked him back. Matt dives deep into practice valuations from the perspective of a broker, and describes his unique valuation method. He shares with us how to assign values to qualitative factors - collection trends, demographics, staff tenure, etc. - that make the valuation proce...

Show Notes Dr. Tuan Pham is the owner of a successful FFS practice owner in Austin, TX as well as the founder of DentalMaverick.com . Tuan graduated from dental school in 2005 and after a few years as an associate in a practice, it was sold out from under him and he found himself without a job.  Tuan shares why losing his job as an associate is one of the best things that ever happened to him. Thi...

Show Notes In episode 1-2 Richard interviewed Dr. Derek Williams after two weeks of practice ownership as a brand new graduate.  Since that episode Derek has more than doubled revenue and profitability of the office.  George interviews Derek about all the factors that led to his practice growth.  Derek discusses his transition, making changes in the office and dealing with staff.  Derek offers a u...

Download Dr. Stroyan's list of questions to ask at an associateship interview!   Dr. Cameron Stroyan (aka "DJ Destroyan") graduated with Dr. Low from Midwestern University in Phoenix, AZ and then went to work in a practice near Seattle. After listening to this podcast, Cameron decided to become a partner now rather than waiting a couple of years. Despite hiring a very well recommended transitions...

Download the Advanced Demographics Guide In this episode of the Shared Practices Podcast I introduce my new Co-host, George Hariri, to the show. We talk about demographics and how to apply them for the practice purchase. We dive into how to know when demographics for an acquisition are important. How to assess the external growth opportunities in an area. Then George blows my mind with the method...

In this episode Dr. Hunter Smith shares his methods of determining the range of values that you should consider for a practice acquisition.  He also shares why demographics are just as important for an acquisition as they are for a startup and how location plays into that.  We go through all the levels of profitability that can be used to determine the final value of a practice. Links Mentioned on...

In this episode Dr. Hunter Smith lays out the fundamentals of understanding what a practice is worth.  A broker can send you a practice listing, but how do you know if this is all the information you need and what is the most important?  Hunter lays out which documents to ask for, which numbers to pay attention to, and his top 4 factors for pulling the trigger on a practice.  Learn why it's so imp...

In the first two years out of school, Hunter Smith and his partner have acquired 6 dental practices. In this episode of the Shared Practices Podcast, Hunter joins us to talk about that journey. We cover a lot of ground in this episode including the value of getting great advice, what not to do when acquiring, and the path to multiple practice ownership. Hunter also shares some great advice about t...

A bonus episode with Dr. Cory Glenn about why being a practice owner is worth it even if you're more into clinical dentistry than running a business. I also get a bit personal and share why I had to drop Blue Sky Bio as a sponsor for our podcast (It's not you, BSB, it's me). Sign up for the Blue Sky Bio Academy for help and support from Dr. Glenn as you integrate guided implant surgery into your p...

Are you looking into an acquisition and wondering where to start? When is the best time to meet with a lender? Should you overpay on student loans or set aside cash to build liquidity? In this episode of the Shared Practices Podcast we are chatting with Matt Porter, a dental broker from Arizona, and we take a deep dive into the many facets of a successful practice acquisition. We get into a great...

You know you need systems in your practice to be more profitable and predictable, but how do you start putting them into place? In today's show of the Shared Practices Podcast we have Dr. Mark Costes, and he walks us through the basics of systemization. We discuss which parts of your practice should be systemized first, the value of leadership in a practice, and the power of checklists. Mark also...

When do most people move into practice ownership? After 5 years? After 1 year? Well, the two guys on our show today bought their first practice when they were in their D3 year! Their story is an incredible journey of the value of hard work, utilizing mentors, and building relationships that you won't want to miss. Along the way you'll hear about the power of developing a "start now" attitude, defi...

Welcome to season 2 of the Shared Practices Podcast! We're hitting the ground running with financial advisor Reese Harper. Reese has a wealth of information and we really dive deep on the topic of acquisitions. In this episode you'll hear about finding the right size practice for your goals, avoiding lemons, understanding the importance of the hyg:doctor production ratio, and the most important th...

Welcome to Season 2! In today's episode with Dr. Scott Leune we dive into what it means to implement clinical and business systems in your dental practice. Visit BreakawayPractice.com to sign up for Dr. Leune's course in San Antonio or learn about their other services. Dental Intel was the resource Breakaway uses for automatically monitoring key indicators from practice software. Dr. Leune graduat...