If you dream of establishing your own dental practice, your best bet is to start by compiling a team of professional advisors. Not only should your advisory team be experts in their respective fields, but they should also understand the unique challenges dentistry professionals face every day and the complexities that are associated with dental practice ownership.
Trust Your Gut
When you work with a service provider, essentially you are entering into a long-term relationship. Therefore, it’s not only important to identify those who are best suited on a professional level to make up your business team; you also need to consider whether their personalities sync with yours.
Choose to work with someone who not only has your best interest in mind, but who is someone can get along with personally – only you will know whether you will work well with a particular attorney, accountant, or banker. So while it’s always a good idea to ask for recommendations, make sure you get the final say when it comes to making up your team roster.
Do They Really Know What They’re Talking About
You wouldn’t hire an automobile mechanic to act as your legal counsel in court, so why would you allow a professional with little-to-no experience in the dental industry help manage your dental practice? It’s so important for up-and-coming dentists to work with professionals who have a solid track record of success in the industry you are pursuing. Working with industry specialists who are able to collaborate with each other – without hidden motives or agendas – will also help you identify the best solutions for any challenge you may face as a business owner as each advisor will be able to bring a unique perspective to the conversation, which will help you see the bigger picture.
When you are able to compile a team of professionals who are not only experts in their respective fields, but who can also offer solid experience in dentistry, you have the ingredients needed for success.
Email our team at PMA Practice Transitions to learn more and to get started with the development of your dental advisory team.
Published by Matthew Scherer on March 10, 2022