Strategically Enhancing Dental Practice Value: A Methodical Approach to Pre-Exit Planning

rich leung

Dentist - Temple Dental Trails, Temple, TX

Numbers don't lie. 2023 was a bad year for many businesses and we were able to grow our revenue by 16%. We did it without me working more days, or hiring more doctors and hygienists. Personally, both myself and Alex are grateful for where we are today. 

Frank Curtin, CEPA

The Get It Done Guy

Visionary Success Framework - Creating Enduring Value Today for Tomorrow

Having a well-thought-out endgame for a business is crucial due to the multitude of voluntary and involuntary reasons that might prompt an exit. Voluntary exits, such as retirement, pursuing new opportunities, or passing the business to a successor, allow for a controlled and strategic transition. However, involuntary exits—stemming from unforeseen circumstances like health issues, economic downturns, or sudden personal emergencies—can thrust an unprepared business into turmoil. A robust endgame strategy mitigates these risks by ensuring continuity, safeguarding the company’s value, and protecting the wellbeing of employees and stakeholders. It provides a roadmap that handles both planned transitions and unexpected disruptions with equal efficacy, thereby securing the owner's legacy and the future of the business.

Moreover, an endgame plan lays the foundation for financial security for the business owner by defining clear steps to maximize the company's valuation and ensuring a smooth transfer of ownership for when the time comes. It also addresses potential legal, tax, and operational hurdles that might arise during the transition. By having a proactive approach, owners can avoid the pitfalls of rushed decisions that could lead to significant financial losses or damage to the business reputation. Engaging with advisors, creating a succession plan, and regularly updating the endgame strategy in response to changing business dynamics and personal circumstances are all integral parts of this process. Ultimately, a comprehensive endgame plan not only secures the desired outcome for the owner but also reinforces the stability and future success of the business, making it resilient against both anticipated and unexpected challenges.

The diagram below identifies the five components an owner must navigate to build their business with the end in mind. 

Take the Endgame Readiness Assessment and Schedule a Free Discovery Call

Embarking on the pathway toward a successful transition from your dental practice necessitates a strategic and thorough preparatory approach. The initiation of this process is marked by our Endgame Readiness Assessment, followed by an in-depth 90-minute Discovery Call. This initial phase involves a detailed evaluation across three pivotal dimensions: personal, financial, and business readiness. The outcome of this assessment provides a comprehensive overview of your current positioning within these key areas, establishing a foundational understanding upon which to build.

The subsequent Discovery Call facilitates an extensive exploration of your assessment outcomes. During this session, we engage in a detailed analysis of your readiness scores, pinpointing both the strengths that can be harnessed and the areas that require focused improvement. Our goal is to collaboratively develop a bespoke action plan that enhances your state of readiness, ensuring you are fully prepared for a smooth and successful exit from your dental practice, whether it is imminent or more than a decade away.

This proactive approach to endgame planning is not merely about preparing for the eventual sale or transition of your practice; it is a strategic business maneuver that enhances the operational efficiency, financial performance, and overall market positioning of your practice long before the exit becomes a reality. Engaging in endgame planning well in advance ensures that when the time comes, your practice is not only ready for transition but also positioned to command the best possible value. It is a testament to the foresight and strategic acumen of the practice owner, cementing a legacy of success and stability.

In essence, our methodology offers not just clarity and confidence as you navigate the complexities of the endgame planning process but also positions you advantageously for a future that aligns seamlessly with both your professional legacy and personal aspirations.

What You’ll Do Before the Call 

Completing our Endgame Planning Assessment is an essential step for dental practitioners planning their practice's future . This detailed assessment evaluates personal, financial, and business readiness, offering a comprehensive insight into the practice's current state. It identifies strengths and areas for improvement, serving as a critical tool for strategic planning. This process empowers practitioners to make informed decisions, optimizing their practice's value and ensuring a smooth transition for when that day comes.

What Happens During the Call 

During the 90-minute Discovery Call, we delve into the Endgame Planning Assessment results, focusing on your readiness in personal, financial, and business areas. This session offers a deep dive into your practice's strengths and improvement areas, guiding you toward a customized action plan. It's an opportunity to thoroughly understand your position and strategize for a smoother transition, ensuring all aspects of endgame planning are meticulously addressed to meet your long-term goals.

What Changes After the Call 

After the Discovery Call, practitioners gain a strategic edge in preparing for their practice's transition. Insights from the call empower them to align their endgame planning with their long-term goals, focusing on enhancing their practice’s readiness. The resulting action plan becomes a roadmap for operational, financial, and personal readiness improvements. This strategic shift ensures the practice not only meets but surpasses market expectations for a successful transition, emphasizing strategic alignment and efficiency. This period is crucial for optimizing the practice’s value and ensuring a seamless exit process.

How Business Owners Get What They Want!

  • Clarity

  • Accountability System

  • Contingencies

  • Know Your Gaps

  • Four Capitals

  • Decentralize

Clarity is a matter of answering 7 key questions

  • Clarity of Purpose – Why do we exist as a company?
  • Clarity of Beliefs – What do we believe that are non-negotiable behaviors?
  • Clarity of Direction – What do we want to achieve 5 years from now?
  • Clarity of Attraction – Who is our ideal audience and why do they choose us?
  • Clarity of 2 Year Outlook – What should we look like 2 years from now if we are on track to our 5 year goal?
  • Clarity of Goals – What should we be focused on this year to be on track with 2 year outlook?
  • Clarity of Priorities – What must we focus on this quarter to be on track with our 1 year plan?

About Frank Curtin

Frank has been working as a business consultant for over 25 years stemming back to his days at IBM. Working on endgame and strategic plans are of great joy to Frank. And having the opportunity to work heavily with dental practice owners over the past 11 years has given him great insights into what works and what doesn't work when running a practice. As Frank likes to say, "It's not about doing things the right way or wrong way, it's about taking actions and getting results. The results you get are either effective or ineffective. That's up to you to decide. There is no such thing as failure, only failure to learn. There are only actions that produce outcomes and learnings."

Why They Recommend Having a Free Consultation Call with Frank

henry ernst

Dentist - Charlotte, NC

I'm the type of person who if you do well by me I'm going to be your biggest fan and promoter. Frank has been amazing to work with and his ability to connect with doctors and team members is awesome. He's constantly working behind the scenes with my Office Manager and whenever something new arises Frank's there to help and we get it done. Thank you Frank!

mike atencio

Dentist - Reno, NV

Frank has extensive knowledge of how a dental practice runs. He is able to relate to all the staff and their roles while he helps them develop and explain their individual business plan. He excels in facilitating and guiding the group where they need to go to develop as a team. He was also available every day to help us with questions, especially during meeting times, or with any questions regarding our accountability chart.

brad burau

Dentist - Grand Blanc, MI

With a generational practice we found that we needed systems badly. The days of one person calling all the shots needed changing. Frank implemented his system and since 2017 we have tripled the size of our practice and we no longer tolerate people that don't fit our culture. It is really a pleasant place to be and our staff know their roles. I focus on the big picture and the team does everything else.

marty verbic

Orthodontist - Palatine, IL

I initially went from 16 clinical days per month to 11. I then doubled my production and went to 15 days per month by adding another location. I then bolted on a pediatric practice to my orthodontic practice and doubled the production again. EBITDA has grown from $150,000 to $1,150,000.

anthony do

Dentist - McKinney, TX

Some people who enter your life are blessings. I consider Frank a blessing. The wisdom Frank imparted on me and my practice are truly appreciated. Now that we have our system in place we are able to grow by design and achieve our shared objectives. I can't begin to express the mindset change I've gone through where I was initially thinking of a lifestyle practice and now I've got an Associate and we are growing!

nick rorick

Dentist - Fort Wayne, IN

As a former Navy man I understand the importance of a rudder and a power plant. In order to move, you need to have all the parts of your engine working. In order to move in a specific direction, you need a rudder. And as good as all of that is, without a plan, how would you know where you are going? Thanks to working with Frank I finally feel like a captain with a great crew. My business has a solid foundation, a clear set of priorities and a team that's on board making it happen. Thanks Frank!

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