Graduating dental school is an exciting achievement that is a result of many years of hard work, and now you’re ready to take the next step! You may be thinking about becoming your own boss and starting your own practice. However, this can be a stressful and expensive transition that often overwhelms new dental grads. Chances are, you may actually not want to do all this alone. That’s why we’re shedding some light on the benefits of joining forces rather than riding solo!
Purchase an existing practice
This is one of the key factors to consider when starting your new dental career, because buying an existing practice provides you with a business perspective that a startup can’t. At the start, it’s important to be patient, especially since it might take some time to find a doctor that shares the similar philosophies as you. One of the benefits of joining an existing practice is that you immediately gain access to the existing patient base. This allows you to start working so much sooner rather than having to start from scratch. Not only that, but the current patients are already familiar with the staff that’s in place, so learning a few new faces won’t be a big deal.
Do your research and find the right seller
Once you’ve chosen the appropriate candidate, talk with them as much as possible to discuss business, personal things, mindsets, and more. Understand how they do things and explain why you’d fit into the existing system. The better you know each other, the smoother the transition will be. If you make the right choices and work alongside compatible people, you’ll be allowed to focus on your dentistry without the worry of managing all the other stressful responsibilities like marketing, billing, or personnel problems.
Connect with your purpose
You most likely had a vision during dental school of what your practice may look like one day. As with any good dentist, your goal is to provide your patients with a comfortable experience that increases confidence and improves their overall oral health. If your purpose has changed or if you have new priorities, direct your attention and actions towards those. In the end, don’t just leave a dental practice behind, leave a legacy!