Over the holidays, I enjoyed some downtime watching videos of my children that were taken over the last year. One video, in particular, gave me goosebumps and inspired the title of this editorial. My daughter, a competitive dancer, performed on stage at one competition last year with her team of 37 tap dancers. Halfway through the number, the music stopped suddenly. However, you wouldn’t have realized it until much later because the dancers kept tapping, in synchrony with smiling faces, until the end. It was not surprising that the team won top marks and a special award, “Teamwork Makes the Dream Work”. It was seamless even though the audience knew umpteen hours of practice and coaching had helped them reach that comfort level. The bottom line is that the team trusted each other’s abilities and were trained to handle this type of situation. When it comes to your professional and personal lives, The Professional Advisory team offers you similar trustworthy coaching so you, too, are equipped with knowledge and insights in non-clinical areas of practice and life so if the music stops, the show will still go on.
“Location, location, location” by Ian Toms reminds you that finding the ideal spot to build or relocate your practice requires some research and effort. By working with seasoned experts, you can increase your chances of success while reducing time you spend doing the legwork as well as your stress levels so you can focus on your area of expertise.
Growing a practice takes time, however, Dr. Weintraub’s article, “The Successful Type of Endeavor” highlights the importance of a unified team approach when creating bonds with new patients as well as strengthening them with existing patients. The relationship practice delivers value to patients, team members and the owner dentist(s).
Purchasing a house seems like a no-brainer since everyone needs a roof over his/her head and it’s an investment. David Chong Yen looks at buying a house from different perspectives in, “Big Ticket Purchases – Your Home”, to explain why, in certain circumstances, it may be better to rent rather than own. We all recognize that owning a dental practice can be challenging. It may seem intuitive and advantageous to team up with another dentist to share the many responsibilities and rewards. In “Partnership Pitfalls”, David Lind discusses the pros, cons and the other important elements that you should consider before entering a partnership.
David Rosenthal completes his series, “Corporate Dentistry - What Vendor Dentists Need to Know – Part 2” in this issue. His excellent advice ensures that the “home” team, which includes you and your family, is set up for success if and when you decide to sell your practice to a dental service organization (DSO).
Finally, “What is a McNulty M1nute?” rounds out this issue with an introduction to Mark McNulty’s new digital platform. Mark and his firm give you bite-sized morsels of information that are easy to digest while they deliver important non-clinical information to help you succeed financially.
As we enthusiastically begin a new decade working toward our new (or renewed) resolutions as well as bigger and better dreams for our future, we, at The Professional Advisory, wish all of you a happy, healthy and prosperous 2020! And, remember, teamwork makes the dream work.
