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Brady Frank learned early on in his dental school studies that he was interested in transitions and owning multiple practices. What he didn’t know was that he would discover a huge market for dentist-owned DSOs and a strategy that would help many dentists upgrade their practices, remain in control, gain multiple revenue streams and provide incredible opportunities for everyone they work with.
On this episode, Brady goes into detail to explain the transition process and how it is an incredible opportunity that dentists should be getting in on. He goes over the definitions of DSO, DDSO, equity harvesting, value-added practice and much more. The idea is to share the risk and the reward with co-owners while expanding practices using high-level scalability techniques.
Brady stresses the importance of taking control of your business future in order to not let your future business control you. Other important concepts to note are the win-win mentality, the ability to acquire good debt to pay off bad debt, working with real estate and creating your own private equity firm. With the right systems in place, it’s possible to do so much more with your practice than you ever thought was possible.
Key Quotes:
- A dual entity approach is that which allows a dentist like yourself listening to continue to have control over his organization while adding “Partners” (Co-owners).
- For every dollar that comes into the DSO, it is valued at a much higher appraisal than the clinical practice.
- In dentistry we have such an incredible opportunity to buy wholesale investments.
- We’re taking next level investment strategies and applying them to a niche market.
- We don’t want just you to win, it needs to be the other dentists involved in your organization to win. Or else it’s just a sham.
- If we aren’t in control of our business futures, it’s our business futures that control us.
- Dentists through various models can actually venture with each other to grow in regions that they previously would’ve thought impossible to grow in.
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