Ralph Crawford


April 16, 2014

April 16, 2014

On a recent vacation in Barbados we were wandering through one of its larger shopping areas and I was fascinated to see a number of people wandering around with YOLO imprinted on their on their T-shirts. I suppose it can be attributed to my age, or possibly I’m just not aware of a lot of things going on in today’s busy world, but I just couldn’t relate to what YOLO meant. The answer came to me all of a sudden when we passed a store’s clothing section and there on display were quite a number of YOLO shirts and even a couple with the acronym spelled out, You Only Live Once. Sure, now it came to me – I’ve heard the expression numerous times down through the years but not in its YOLO form.

But then another event brought YOLO even closer. Upon arriving home and watching the Sochi Olympic Games I was drawn to the snowboarding events and watched excerpts of Louri Podladtchikov, representing Switzerland, land his famed YOLO flip to win the men’s halfpipe gold medal. Upon investigating a little further I was able to find that Podladtchikov invented the YOLO flip which in snow- boarding language is a switch frontside double cork 1440 – whatever that means!

The whole coincidence of two YOLO events coming together within days of one another got me thinking that “Sure, that’s certainly one true concept – whether personal life, family life, dental practice, the whole world – You Only Live Once.” So you had better make the best of it! And as often happens, my mind reverts to the message and direction that The Professional Advisory is attempting within each issue. It is saying, “You Only Live Once and we at the PA are doing the best we can to make your life in dentistry the success you deserve.”

The world of taxation is so often one where making wise decisions poses numerous problems. David Chong Yen and Louise Wong in their “Income Splitting” the Difference” certainly helps dentists make the right decisions. And in the complex world of Lease Assignment Ian Toms takes dental tenants on a step by step process so you negotiate assignment provisions carefully – because like YOLO, you don’t always get a second chance. Mark McNulty revisits How Does Investing Change in Retirement and encourages readers to test their “sequence of return risk” because minimizing this risk is of paramount importance for outliving your money.

In Associate Agreements – Part 4, David Rosenthal continues on with the aspects of the legal contract that clearly and wisely detail arrangements between the dentist who owns the practice and the dentist hired to work within it. The right choices are vital – YOLO. Ron Weintraub in The Increasing Impact of Technology on Everyday Dental Practice presents an excellent review of the ground breaking innovations dentists have experienced over the years, and because You Only Live Once, you must choose judiciously. Within his Finding and Being a Mentor David Lind wisely suggests that in order to enjoy productive and successful mentor/mentee relationships, the buyer and seller must share similar philosophies. And he so sincerely points out how fortunate he was to have such a meaningful mentor/mentee relationship with Professional Advisory founding member, Graham Tuck, who recently passed away very suddenly of a heart attack.

Yes, whether it’s on your T-shirt or part of any of your daily activities there’s no doubt that YOLO is an important aspect to keep in mind. Do the very best you can – You Only Live Once!