A pessimist sees difficulty in every opportunity, but an opportunist sees an opportunity in every difficulty. – Winston Churchill
As we begin 2018, renewed and refreshed, we have the ability to choose our attitude moving forward. Are we going to look at each situation that presents as a difficulty or as an opportunity? The New Year, generally, brings with it optimism, excitement about changes for the better in the way of new goals, resolutions and prospects. As I follow in the very big footsteps of my predecessor, Dr. Ralph Crawford, as editor of The Professional Advisory, I am optimistic that this opportunity will provide a great learning experience for me, professionally and personally. I look forward to learning from and working with the trusted and valued Professional Advisory team that deconstructs difficulties so we can open the door to the abundant opportunities that lie in wait.
Of course, there are forces or things we can’t control. Leases may be one of these things, at times, but Ian Toms shows us how to deal with a less than ideal assignment clause in a lease agreement and how to work with the landlord and/or buyer to solve a potentially messy situation in the article, Lease Assignment.
Dr. Ron Weintraub’s article, The Increasing Importance of the Office Manager’s Role in the Success of Contemporary Dental Practice, is an example of how balancing our clinical and non-clinical responsibilities can be challenging. The non-clinical duties, however, can be efficiently managed in our practices through a well-defined role for the office manager.
When it comes to our financial health, David Chong Yen’s article, New Year Tax Resolutions, helps us understand the proposed federal tax amendments and illustrates how proper tax planning and advance preparation will protect us, our assets and our families in the long-term.
Similarly, in David Lind’s article, The Market is Very Efficient, we learn the true value of an appraisal. Where some may consider it to be an unnecessary expense, others embrace the valuation and use it to assess and expose the practice to the market which, ultimately, determines the optimal sale price. Anyone who has purchased a practice knows it can be a long process and can have some hiccups while the details of the sale are being finalized and, at times, even post-sale. David Rosenthal focuses on the opportunities to lessen some of these issues by giving us a practical checklist to consider in Legal Checklist to Purchase a Dental Practice.
Finally, Mark McNulty reminds us that an opportunist looks at the upside of investing in oil while others focus on its stagnation or underperformance in Commodity vs. Stocks – An Opportunity in Oil. I hope you enjoy reading this edition of The Professional Advisory and that you look at this upcoming year as an opportunity to achieve the goals and success you envision for yourselves in 2018. Happy New Year from The Professional Advisory!