Special Guest and Podcaster Onni Franco talks with Michael about his experience he had acquiring am ortho practice and getting started as a brand new practice owner.
The Dental Student Podcast
It's the Dental Student Podcast! Tune in to join Onni Franco as he takes you behind the scenes of real dental school/residency experiences, gives out true and tried advice, and exposes you to dental students' unfiltered takes on life. DSP was the first podcast put on by dental students. The goal of the podcast to be a source of information for pre-dental students, dental students, residents, and even newly graduated dentists who may not have otherwise been exposed to varying perspectives and topics that are at the forefront of millennial dentists.
The Dental Student Podcast
https://dentalstudentpodcast.libsyn.com/website
0:00 Intro Music
0:45 Episode Intro
3:32 The Dental Student Podcast
10:45 Dental Students Ownership Mindset
20:00 Getting Started Without The Answers
25:36 Finding Great People To Help You
31:25 Pitfalls Challenges In Acquisitions
39:46 Behavior Assessments
42:32 Tips for Getting Into Ownership
The topic of entering practice ownership right after dental school is a hot one among students, with a range of opinions and considerations floating around. Here's a breakdown of the general sentiment:
Challenges and Concerns
Financial feasibility:
Securing loans for practice acquisition amidst student debt can be daunting. Building a thriving practice also takes time and investment, posing financial risks for young dentists.
Limited experience:
Graduates, though equipped with clinical skills, might lack the business acumen and operational knowledge crucial for running a successful practice. Gaining experience as an associate dentist first can be valuable.
Time commitment:
Practice ownership demands more than just clinical expertise. Marketing, administration, staff management, and financial responsibilities are all part of the package, eating into personal time and potentially impacting work-life balance.
Positive Views and Options:
Early investment:
Owning early can benefit from lower practice purchase costs and potentially establish a strong client base in a desired location.
Control and autonomy:
Practice ownership offers independence and the ability to shape your career path and practice philosophy. Some students value this entrepreneurial spirit.
Passion and preparation:
Some students, particularly those with prior business experience or strong family support, might possess the drive and resources to navigate the challenges successfully.
Remember, consulting with financial advisors, experienced dentists, and dental school resources can provide valuable guidance before making any ownership decisions.
As a dental buyer representative, Michael Dinsio helps dentists buy dental practices step-by-step. With over a decade of experience and more than 500 dental transactions, Michael is a key opinion leader in the dental industry. This program helps walk dentists through the process of becoming a dental practice owner via dental practice acquisitions. If you would like a free consult with Michael or would like to work with Michael in the future visit his webpage. https://www.nxlevelconsultants.com/buyer-representation.html
DENTAL UNSCRIPTED HAS A WEBSITE ! ! !
Find all the content from SEASON 1: "Start Up Unscripted"... as well as SEASON 2: "Dental Acquisition Unscripted", it's all here in one spot here 👉 https://www.dentalunscripted.com
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Intro Music by D Fine Us on https://artlist.io/song/15785/howling-at-the-moon
22 mins