TT Ep 111 - Financial Steps 30 Days Before Closing

Transition Talk

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Re-Recruiting and Other New HR Strategies You Can’t Ignore 18:09

منذ 9 أيام18:09

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18:09

HR is no longer just about managing people—it’s about shaping the future of work. Jens Baier, BCG’s HR transformation expert, discusses how AI and shifting employee expectations are forcing companies to rethink talent strategies. From re-recruiting to upskilling employees, HR must adapt to a rapidly changing landscape. Learn More: Jens Baier: https://on.bcg.com/41ca7Gv BCG on People Strategy: https://on.bcg.com/3QtAjro Decoding Global Talent: https://on.bcg.com/4gUC4IT…

منذ عام واحد 35:20

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Closing on a practice sale signifies the monumental moment for buyers of crossing the finish line and starting a new chapter of your career. To set yourself up for success in the practice, there are several financial decisions to make 30 days prior to closing the deal. Charles invites Cain Watters & Associates Financial Planner Zane Harris to weigh in and help buyers through this critical period in the dental transition process.

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Transition Talk

TT Ep 111 - Financial Steps 30 Days Before Closing

Transition Talk

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134 حلقات

#Business #NDP

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Transition Talk

1
TT Ep 121 - Asset vs. Stock Sale: The Implications for Your Dental Partnership 36:08

منذ 17 يومًا36:08

36:08

The sale structure of a dental partnership is an important detail that can impact the deal and life as partners. One structure may sound like the best option—be it for simplicity or efficiency—but that doesn’t mean it will have the best outcome in the future. Joining this episode to offer their legal and financial expertise is attorney Matt Mitchell from Friday, Eldredge and Clark LLP and Cain Watters & Associates Financial Planner Sarah Oliver. They discuss the tax and legal implications of asset versus stock sales, common misconceptions, repercussions of making adjustments after the fact and the importance of operating agreements.…

Transition Talk

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TT Ep 120 - Common Lending Questions Answered 28:38

منذ 24 يومًا28:38

28:38

While many assume that all debt is bad debt, obtaining lending is often a necessary piece to practice ownership. Experienced dental lenders Johnette Green from Provide and Adam Schenck from Bank of America join this episode to help buyers be in the best financial position to purchase their dream practice. They discuss aspects that banks look for in the buyer’s personal finances and the practice financials, details that buyers often miss, when to engage a lender, how sellers can support buyers in the lending process and much more.…

Transition Talk

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TT Ep 119 - With a Little Help From Our Vendor Friends 31:13

منذ 7 weeks31:13

31:13

Running a successful practice is much more than the clinical work. To enhance your practice’s efficiency, it’s important to leverage dental-specific solutions to lift the weight of certain business responsibilities and save you money on supplies and services. Charles and Brett Pierce, ELITE Dental Alliance President and CEO, discuss what options are out there, how to utilize them to the fullest and why implementing vendor changes can be a positive contributor to your practice’s success.…

Transition Talk

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TT Ep 118 - Rewarding Doctor Moments 18:07

منذ 11 weeks18:07

18:07

Working alongside doctors through major milestones brings an abundance of rewarding moments. From witnessing their teachings come to life to seeing the full evolution of a dentist’s career, Christy and Charles reflect on gratifying memories from the past.

Transition Talk

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TT Ep 117 - The Associate’s Path Towards Ownership 24:51

منذ 14 weeks24:51

24:51

Many doctors begin their career by building experience as an associate. This stepping stone to practice ownership can help you gain insights to the decisions you’ll eventually face in your own practice. In this new episode, Christy and Charles discuss growing your clinical speed and productivity, building liquidity and several other action items to consider during your associateship.…

Transition Talk

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TT Ep 116 - The Right Time for a Valuation 31:14

منذ 16 weeks31:14

31:14

Dental valuations are complex, and finding the right time to value a practice can be intricate in itself. There isn’t a universal timeframe, but the timing is incredibly unique to the buyer and seller’s specific situation. Christy and Charles walk through several scenarios, illustrating when it’s appropriate to value, when it’s not and the implications behind the timing.…

Transition Talk

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TT Ep 115 - Is Your Partnership Opportunity the Right Fit? 31:40

منذ 19 weeks31:40

31:40

Ensuring compatibility and laying out expectations early is key to getting your partnership started off on the right foot. From mentally, clinically and financially preparing yourself to understanding the other doctor’s vision, this episode dives into the groundwork needed to know if this is the right career and personal step for you.…

Transition Talk

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TT Ep 114 - Questions to Ask Your Future Partner 35:00

منذ 21 weeks35:00

35:00

Just like dating, dental partnerships not only require a collaborative and cohesive dynamic, but it’s important to understand all of the details for a relationship to thrive. If a partnership opportunity is on the horizon for you, engaging in key conversations and asking the seller the right questions can build a foundation for success. This episode outlines the important questions to ask your future partner and how to understand the answers.…

Transition Talk

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TT Ep 113 - Top 10 (and Bottom 10) Questions to Ask Your Transition Advisor 32:42

منذ 24 weeks32:42

32:42

Knowing the right questions to ask is a powerful tool, especially when it comes to asking your dental transition advisor for insight and advice. Good questions can make conversations more productive, maximize your time and further your overall progress in your practice purchase or sale. Christy and Charles walk through the most productive questions from clients and why some questions can be more beneficial than others.…

Transition Talk

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TT - Special Episode - A Possible Non-Compete Ban? 28:02

منذ 25 weeks28:02

28:02

With the Federal Trade Commission pushing to ban non-compete agreements, questions and confusion are escalating among practice owners and associates. While the U.S. District Court has blocked the ruling for now, attorney Ali Oromchian offers clarity on the current developments and shares considerations to make if the rule does go into effect.…

Transition Talk

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TT Ep 112 - Financial Steps Post-Close 27:38

منذ 27 weeks27:38

27:38

When the documents are signed and you’ve officially closed on your practice purchase, you’re likely eager to now jump into the job head on. To help new owners financially thrive post-close, Charles and Cain Watters & Associates Financial Planner Zane Harris lay out some key considerations. They touch on marketing strategy, curating your vendors, equipment and technology, tax planning, depreciation strategies and even some personal considerations, like new homes and student loans.…

Transition Talk

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TT Ep 111 - Financial Steps 30 Days Before Closing 35:20

منذ 29 weeks35:20

35:20

Transition Talk

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TT Ep 110 - The Kickoff Moment 28:54

منذ 31 weeks28:54

28:54

Whether you’ve done your research and you’re ready to kick off your next career chapter, or you’re feeling a little lost in the weeds, a coaching call or a preliminary meeting with a dental transition advisor like NDP can provide both direction and assurance. To maximize your time and gain the most value, Christy and Charles share what to expect and how to prepare for your first meeting with NDP.…

Transition Talk

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TT Ep 109 - The Power of Knowledge 28:15

منذ 33 weeks28:15

28:15

Identifying opportunities for improvement can ultimately position your practice in an attractive spot for a buyer down the line. Cain Watters & Associates Partner Judson Crawford joins Christy on this episode to dive into the latest version of the Dental Practice Comparison Report. They’ll discuss the key findings from the nationwide practice data and lay out some guidelines for growing your practice this year.…

Transition Talk

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TT Ep 108 - The Real Cost of Renovating or Building 21:11

منذ 36 weeks21:11

21:11

It’s natural to want to grow your dental practice by renovating or building a new office space. However, this can come at a cost, potentially impacting your overhead, overall practice value and even a future practice transition. In this episode, Christy and Charles show that while it’s okay to jump into this new project, you must consider timing and renovate or build with the overall business in mind.…

Transition Talk

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TT Ep 107 - Addressing Operational Changes for Your New Team 27:59

منذ 38 weeks27:59

27:59

If you’re a new partner or buyer coming into a practice, making operational changes quickly can potentially shake things up and cause insecurity among the team. But what if the team is overpaid or underpaid? What if you want to adjust the vacation policy or insurance options? What if you don’t want to rehire a team member? Tune in as Charles and Christy discuss how you can make adjustments while being mindful of the team’s perspective.…

Transition Talk

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TT Ep 106 - Delivering the Big Announcement to Your Team 24:48

منذ 40 weeks24:48

24:48

Announcing a big practice change to your team, like the addition of a new partner or transitioning the business to new ownership, can be a sensitive and pivotal conversation. You will want to ensure your team feels confident and optimistic about the next chapter. In this episode, Charles and Christy walk through tips for determining when to tell your team, what to tell them and how to prepare for that important conversation.…

Transition Talk

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TT Ep 105 - Is My Practice Healthy Enough for a Transition? 17:31

منذ 42 weeks17:31

17:31

The dental transition landscape is seeing buyers become more diligent and selective with their decisions, causing practices considered “healthy” to have more buyer opportunities during the selling process. But what makes a practice “healthy”? Christy brings on NDP Senior Transition Consultant Morgan Ramsey to discuss the common financial and operational indicators that ultimately show your practice is ready for a transition.…

Transition Talk

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TT Ep 104 - Transition Timing: When to Start Planning 24:31

منذ 45 weeks24:31

24:31

As you consider buying or selling a practice, the first few questions you may ask are, “When and how should I start the planning process?” and “How long does a transition take from start to finish?” The timing from when you start planning to when the practice sale closes can vary, especially with both internal and external factors at play. Christy and NDP Senior Transition Consultant Matt Doyle outline some guidelines to help you create a plan and shed light on the answer for you.…

Transition Talk

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TT Ep 103 - The Right Time to Ask for Help 28:41

منذ 47 weeks28:41

28:41

When does it make sense to bring on a transition advisor so that you can maximize the benefits of hiring one in the first place? Is it when you have a concrete practice opportunity to purchase? Is it before you even start the discovery process? The timing, along with your unique situation, can determine the when and if an advisor truly is a good fit for what you need.…

Transition Talk

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TT Ep 102 - Landing Your Dream Position 27:10

منذ 49 weeks27:10

27:10

When it comes to searching for that dream associateship or position, there’s a little more required than learning about the job responsibilities. Arthur | Marshall’s Rich Gehrke and Kevin Simpson join Christy to share tips for finding your associateship or job opportunity, approaching the interview process and doing the homework to prepare for this significant life decision.…

Transition Talk

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TT Ep 101 - The Keys to Finding Your Associate or Partner 31:46

منذ 51 weeks31:46

31:46

The process of searching for your ideal associate or partner requires more than just a job posting. It requires you to set a clear understanding of what you’re looking for and have the desire to not only craft a compelling offer, but to create a positive experience for the candidate. This process isn’t about having a line of candidates through your door, but rather, it’s about going into it feeling ready to put yourself in the candidate’s shoes. Rich Gehrke and Kevin Simpson, two recruiting experts from the Arthur | Marshall team, join Christy on this episode to share their tips and knowledge to help you find the best person for your practice.…

Transition Talk

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TT Ep 100 - The 100th: A Look Back 19:09

منذ 1 year19:09

19:09

When Christy and Charles decided to start Transition Talk in 2018, they didn’t know what a valuable resource it would become and the impact it would have today, but they knew they had educational content to share. The co-hosts celebrate the milestone of 100 episodes by reminiscing about their favorite moments and episodes and sharing a behind-the-scenes look at the road traveled to where they are today.…

Transition Talk

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TT Ep 99 - Do Not Fear: Digesting This Economic Climate 24:25

منذ 1 year24:25

24:25

With the implications of inflation, interest rates and economic volatility looming, some doctors may feel uncertain about making a big career decision. How can current and future practice owners make sense of it all? What can they do to stay positive as they approach a future practice sale? Brian Bortz, Cain Watters & Associates Partner, joins this episode to provide an update on the economy and investment markets. He addresses concerns that buyers and sellers may have and shares how they can navigate the current climate.…

Transition Talk

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TT Ep 98 - Top Questions Practice Owners Have - Answered! 32:07

منذ 1 year32:07

32:07

Managing the clinical, business and operational side of a dental practice is a juggling act, which means owners likely have a lot of questions swirling in their minds. Charles and Christy use this episode to answer common transition and ownership questions. From preparing for a transition, assessing potential buyers to building and lease questions, this episode provides clarity and insight on a wide range of topics.…

Transition Talk

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TT Ep 97 - Do You Fit the DSO/Private Equity Criteria? 33:28

منذ 1 year33:28

33:28

With a constant buzz surrounding dental service organizations (DSOs) and private equity (PE) firms, practice owners may wonder if this is the appropriate route for them and their practice. Christy and Charles explain the types of qualities that DSOs and PE firms look for, while also while also illustrating both the opportunity and risks of the corporate sale.…

Transition Talk

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TT Ep 96 - Finding the Balance with Dr. Michelle Decere 19:53

منذ 1 year19:53

19:53

From navigating a three-doctor partnership, a child’s health diagnosis, busy schedules and much more, pediatric dentist Dr. Michelle Decere had to figure out what works and what doesn’t to keep the wheels moving. In this episode, she shares her story and shows that sometimes the keys to a fulfilling lifestyle are leveraging your support system, setting priorities and finding balance.…

Transition Talk

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TT Ep 95 - Personal Wins Over Societal Perfection with Dr. Christy Marcello 26:29

منذ 1 year26:29

26:29

Dr. Christy Marcello is the only female specialist dual trained in pediatric dentistry and orthodontics in the state of Louisiana. And as a practice owner, wife and mom, she understands the weight and stress that many women endure as they seek perfection. Tune in to hear her story and how she strives to be not the best, but rather be the best version of herself.…

Transition Talk

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TT Ep 94 - Goodwill’s Role in Your Transition 33:22

منذ 1 year33:22

33:22

Not only is goodwill a large contributing factor to the overall practice value, but because it’s intangible, the handoff between the buyer and seller isn’t as simple as handing over the keys. Yet, it has to be addressed. In this episode, Christy and Charles discuss why goodwill matters, when it’s worth more or less, what sellers may be expected to do to transition goodwill, what buyers can reasonably ask for and ways a buyer and seller can tarnish goodwill.…

Transition Talk

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TT Ep 93 - It’s Not a Sprint to the Finish 25:32

منذ 1 year25:32

25:32

We get it. You are ready to close that deal. Whether it’s excitement, anxiety or another feeling or reason, many people just want to get through their dental transition and close the deal as quickly as possible. However, speeding through the process can lead to oversight of important details and even complications to the overall transition. NDP’s Head of Consulting Bridget Schwebke joins Christy on this episode to walk through some common occurrences and provide tips on how to slow down and treat each phase with diligence.…

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TT Ep 111 - Financial Steps 30 Days Before Closing