The last few months have been nothing short of interesting as we have ridden the ebbs and flows of this pandemic and its multiple waves. As summer progressed, a quote by John Maxwell, American motivational speaker, and author, kept coming to my mind, “Change is inevitable. Growth is optional.” This really resonates with me as we resume more “normal” lives with children returning to school and more people going back to their bricks-and mortar workplaces. Changes are going to take place, whether we want them to or not, but our preparedness and attitude will determine the trajectory of our growth, personally and professionally. This issue of The Professional Advisory is your compass to navigate the changes that have and continue to take place since COVID-19 disrupted the status quo.
The first article in this issue by Mark McNulty, “How to Sell Your Practice and Enjoy a Great Retirement” addresses two of the biggest changes that most dentists will face in their lifetime – selling their practice and retiring. Mark’s experience and expertise will lead you down the “path most traveled” to help you enjoy the well-deserved fruits of your labour.
“Tenants’ Dilemma: What’s Next?” by Ian Toms deals with the changing landscape of landlord-tenant relationships. Ian provides practical advice for current and prospective tenants as he outlines what’s changed and changing with respect to lease agreements.
The practice of dentistry has undergone some significant shifts due to the pandemic. Dr. Weintraub explains the importance of having a strategic plan in place for the practice and how consultants can aid in its development and the growth of your practice. He shares some insights gleaned from a client’s practice analysis in “Further Sequelae of the COVID-19 Pandemic on Dental Practice”.
David Chong Yen’s article, “Successful Dentists’ Playbook”, is a great tool to keep you on track for the personal and professional growth you desire. Having worked with dentists for several decades, David has compiled a list of common traits that contribute to the mindset and actions of successful dental professionals.
Selling the practice is a huge milestone in a dentist’s professional career. At times, it may be more advantageous to sell patient charts versus the practice, in its entirety. Gerry Crandles walks you through real-life situations where owners have changed their tactics to ensure they earn the best return-on-investment in his article, “The Chart Sale”.
Finally, David Rosenthal closes out his two-part series, “Associate Agreements – The Associate’s Perspective–Part 2”. Having an associate agreement is crucial in ensuring the growth and success of a practice even when unforeseen events arise that could potentially lead to the termination of the relationship between the owner and associate dentists. It is important for both parties to understand the rationale and implication of the clauses.
Change is as inevitable as the change of seasons. However, with each change of season, we enjoy and experience each one differently. Similarly, by embracing the changes we encounter, personally and professionally, we can create better and different outcomes for ourselves.