The Dental Wealth Nation Show with Tim McNeely

🎙️ Exciting news! In our latest episode of Dental Wealth Nation, we had the pleasure of speaking with Vincent Cardillo, an experienced dental entrepreneur who went from being a sole practitioner to owning multiple dental support organizations (DSOs). Here are three key takeaways from our conversation:

1️⃣ Capturing the culture and organizational structure at one location makes it easier to expand to other locations. By establishing clear values, mission, and purpose and incentivizing them, you can align your team and create a strong foundation for growth.

2️⃣ Having a robust administrative team focused on operational aspects, such as tracking key performance indicators (KPIs), understanding profit and loss statements (PNL), and implementing marketing campaigns, is crucial for the success of a DSO. Building an infrastructure that supports the practices' financial health and growth is key.

3️⃣ Dentistry is a people practice, and success comes from serving as many people as possible. While DSOs may have more marketing dollars, single doctors have the opportunity to provide the same benefits, albeit at a cost. It's important not to get caught up in the fear surrounding DSOs but instead invest in oneself and consider owning one or two practices.

Tune in to our latest episode to hear Vincent Cardillo's fascinating journey from sole practitioner to DSO owner and gain insights into the world of dental entrepreneurship. Don't forget to subscribe to Dental Wealth Nation for more valuable episodes and interviews. Remember, a healthy smile starts with a healthy business! 🦷💰💼 #DentalWealthNation #DSO #DentistryEntrepreneurship #PodcastEpisodeNowLive

🎧 Welcome to The Dental Wealth Nation Show, where we dive deep into the world of dental practice acquisitions! 🏢💼💰 In episode 0061, join our hosts Intro Guy and Tim McNeely as they sit down with the knowledgeable and experienced guest, Levi Barlavi, to discuss the topic of "Buying a Dental Practice with Confidence." 💪🦷

Levi Barlavi, a deal attorney with expertise in practice acquisitions, shares valuable insights and practical advice for dentists who are considering purchasing a dental practice. 📚💡💼 He delves into the complexities of transferring leases, dealing with problematic clauses, and navigating uncooperative landlords. 💼🏢

Through real-life case studies, Levi illustrates the importance of effective communication and negotiation skills when it comes to finalizing a dental practice acquisition deal. 💬💼💯 From addressing buyer anxieties to handling legal obstacles and mitigating risks, Levi provides a comprehensive guide to help dentists confidently navigate the purchase process. 📝✅

With a focus on emotional intelligence and understanding the motivations behind buying a practice, Levi emphasizes the significance of clear goals and vision in achieving success as a practice owner. 😌🎯💼 By sharing personal experiences and actionable strategies, he empowers dentists to overcome fear, combat imposter syndrome, and develop the necessary skill set to thrive as entrepreneurs. 🌟🦷💼

Tune in as Levi Barlavi, Tim McNeely, and Intro Guy shed light on crucial aspects of dental practice acquisitions, including conducting due diligence, negotiating terms, and managing post-closing obligations. 📋💰💼 Whether you're a seasoned dentist looking to expand your practice or a recent graduate aiming to embark on your entrepreneurial journey, this episode is a must-listen for anyone aspiring to buy a dental practice with confidence and financial success. 🎧💼🦷

So grab your headphones and get ready to immerse yourself in the world of dental practice acquisitions on The Dental Wealth Nation Show – because your path to owning a thriving dental practice starts here! 🎧💼🏢🦷

Discussion Questions:

1. What are some common lease clauses that can turn a dental practice lease into a liability?
2. How did the author's approach and tone in their email communication with the landlord make a difference in the lease revision process?
3. Which type of buyer, one who takes risks or one who overthinks, do you relate to more when it comes to buying a dental practice?
4. In what ways can a deal attorney help educate and reduce anxiety for buyers when buying a dental practice?
5. How does a lender's approval for a loan when buying a dental practice depend on financial analysis and the practice's cash flow, rather than just the buyer's student loan debt?
6. Why is it important for clients to have a clear reason for pursuing a practice acquisition when buying a dental practice?
7. How can writing down fears, obstacles, and worst-case outcomes help combat fear and anxiety when entering into a new endeavor, such as buying a dental practice?
8. What are some important factors to consider during the due diligence process when buying a dental practice to mitigate risks associated with employees, billing, and non-compliance?
9. How can emotions, particularly fear, play a significant role in deals falling apart when buying a dental practice?
10. What are some strategies that attorneys can employ to address and alleviate their clients' fears during the negotiation process when buying a dental practice?

Many dentists are missing a big opportunity by not using their patient database, and influencers within their market, to attract more referrals. Tune in and learn how you can generate many more referrals, work with influencers, and create engaging content.

As a dentist, you want to make good decisions in your business and life. You also want to have a good understanding of the process of buying a dental practice. Tune in and learn from Fazel Mostashari, Dental CPA, about the incredible opportunities that exist during these times. You can visit Fazel at www.dentalcpaca.com

Tune in and learn how you can Profitably Marketing Your Dental Practice with Austin Pritchett. By the end of this episode, you will discover how to make your marketing budget go as far as possible by implementing the funnel method in your practice.

Did you know that First time wealth transfers fail 70% of the time and less than 10% of families retain wealth past the third generation? Tune in and learn from Cindy Arledge learn the secret to lasting wealth

Do you want to emerge from COVID with an even stronger dental practice? Are you looking to exceed your 2021 goals? If so, you will not want to miss what Debbie Seidel Bittke will share in this episode of Dental Wealth Nation! Tune in and learn the ONE THING that will help you build an even more profitable dental hygiene dept

Tune in and learn how to grow your practice, simplify your marketing, and stand out from all your competitors. You will learn from Stuart Faught Founder at praze.com | Dental Trust Platform how you can be the most trusted dentist in your town

Family infighting can ruin relationships and even destroy family wealth. In this episode, Tim shows how you can take a page from the playbook of the Super Rich by creating your family constitution aimed at helping families stay united.

Tune in as Tim talks with Steve Kieke, an award-winning architect about how to build your ideal office.

This interview will focus on maximizing the quality of your physical space while simultaneously maximizing some return on your real estate expenditures. Learn how you can build an office that is made to order for your practice and the space you have available; so that you have the most functional, efficient, and most of all pleasant space for you, your staff, and your patients

Dr. Mark Costes is not your typical dentist and business coach. In this episode of Dental Wealth Nation, you will learn why you gathering with like-minded people who are driven to be the best in their business life and their personal life can help you reach even more success.

What was the big breakthrough that helped you get to the level of success you are enjoying today?, Do you believe there is some sort of pattern or formula to becoming a successful dental entrepreneur?, What kind of culture exists in your organization?

Join Sherri Nickerson and learn why Direction + Mission+ Goals + Data = Success

Come learn how you can crack the credit matrix and demystifying the SBA loan process for business owners who would rather spend time building their business than trying to figure out how to get a bank loan.

Josh works with existing and prospective business owners, educating them about the common myths in the SBA 7(a) and 504 realm, consult with them about their goals, and then structure and place their financing needs with lenders who actually get the job done.

Tune in as we focus on the most important elements you must have in order to create and maintain a strong online presence for yourself and your practice. You will learn from Kayvan Mott, co-founder of The Doc Sites, how you can improve your overall online presence along with the essentials of marketing (and really anything) that often get overlooked.

Is it possible to make people WANT to come to the dentist? If you are Dr. Robert Martino then it is entirely possible. Tune in to learn how Dr. Robert Martino built an amazing practice and how you can build the practice you want to!