I think we can all agree that 2020 was an extraordinary year! Many of us were excited to usher in a new decade. Instead, we are continuing to pivot and adjust to “new normals”. While it’s easy to dwell on the negative aspects of the past twelve months, it’s far more productive to recognize that every cloud has a silver lining. Yes, there was downtime, but there was finally time to catch up on work, CE and reconnect with our families. There was also lost income, but this forced us to focus more closely on our businesses, re-prioritize and make changes. Without minimizing the effect Covid-19 has had on the world, it is important to realize that, at times, these clouds bring us unique chances to find some brightness in otherwise bleak situations. Luckily, the experts of The Professional Advisory also guide you through the gray days and help you find the silver linings in different scenarios that you will face in your professional lives.
In Colin Ross’ article, “Dealing with Unsolicited Offers”, we learn how to handle ourselves in the event we are caught off guard by an unsolicited offer to purchase our practices. Colin helps us take an active role and drive the process instead of being led through it unprepared and unaware.
The associate agreement is an essential component which not only outlines the details of the relationship between the principal and associate but, also protects the principal and his/her practice. In “Associate Agreements – The Principal’s Perspective Part 2”, David Rosenthal highlights the importance of certain clauses and how they can impact the practice.
“The 4M Analysis” by Mark McNulty outlines his company’s value-add strategy when choosing high-quality stocks for his investors. This approach ensures that his clients’ portfolios have solid and consistent investments that can weather any storms.
While dental tenants may have felt uneasy over the last year, Ian Toms clears the way to help us capitalize on opportunities that are presenting themselves in this pandemic environment. “Covid Opportunity for Tenants” may change your mind and circumstances with respect to ownership of your practice space.
Dr. Weintraub’s article, “Dental Practice at a CrossRoads in 2020”, reminds us that it is our responsibility to educate and encourage our patients to continue with their re-care visits even during these unprecedented times. In fact, maintaining their oral health will help them improve their overall health especially now.
Finally, David Chong Yen’s article highlights some of the silver lining-type insights we have gleaned over the past 12 months. “Lay of the Covid Landscape – Dentist’s Perspective” emphasizes the advantage that dentistry has had during the pandemic when compared to many other businesses.
As we eagerly embrace the start of 2021, take time to look for the silver linings when cloudy days present and focus on the positive. All of us, at The Professional Advisory, wish you and your families a very safe, happy, healthy and memorable New Year!
