Shared Practices | Your Dental Roadmap through Practice Ownership Dr. Richard Low | Shared Practices Network

Merlin here. I have our very own Dr. Richard Low back on the show. He's asking me some pointed questions about my transition from dental school SF to practicing dentistry in Charlotte, North Carolina. We're talking about the excitement of moving across the country, my clinical preparedness, and how much experience I want before owning a practice.
I also talk about my proactive approach to finding the right practice, including sending mailers and building professional relationships, and my flexible timeline for achieving ownership.
Here's what we talk about:
00:00 - Introduction and Merlin's Transition
00:00:50 - Missing San Francisco
00:01:45 - Dental School Experience and Preparedness
00:03:30 - Goals and Next Steps Post-Graduation
00:07:15 - Decision to Delay Ownership
00:11:50 - Open-Minded Approach to Career
00:15:45 - Response to Mailers and Networking
00:21:20 - Evaluating Practice Opportunities
00:25:30 - Building Relationships and Professional Growth
00:31:45 - Final Thoughts and Advice for New Graduates

I'm sharing how I learned to navigate seasonal slow downs in practices. 
Shared Practices Coach Danielle Kramer and I talk about the common issue of slow patient flow in September and October (AKA Sucktember). Danielle talks about using this downtime for crucial office tasks like inventory management and team training.
 
Danielle and I talk about:
00:00:00 - Introduction and Danielle’s Unique Recording Setup
00:00:40 - Understanding the September Slowdown
00:01:31 - Danielle’s Insights on Seasonal Slowdowns
00:02:26 - Richard's Personal Experience with Seasonal Dips
00:05:19 - Proactive Strategies for Retention and Reactivation
00:09:58 - Importance of Marketing Ahead of Slow Seasons
00:13:21 - Balancing Time Off and Office Productivity
00:18:39 - Creating Effective SOPs and Training Protocols
00:24:30 - Organizing Inventory and Office Maintenance
00:28:50 - Wrapping Up: Collaborative Planning for Success

Richard and George talk about the critical legal needs every dentist faces. Everywhere from acquiring a practice to exiting (and even what we learned forming a DSO). Joined by Hunter Altvater, the lead attorney at Shared Practices, they talk about the importance of clear legal documents, understanding the intricacies of associate agreements, and the value of fixed fee legal services. 

Dr. Scott Smith shares his journey from associate to successful practice owner. Our original episode with Dr. Smith aired February 8, 2012. It was Season 6 episode 26. In this follow-up two-parter, Dr. Smith shares his insights on rural dentistry, maximizing profitability, and balancing work with personal life. Learn about the challenges of staffing, managing multiple practices, and the importance of strategic financial planning. 
Dr. Scott Smith:
801-529-6121

Richard asks George about associate compensation and equity. They talk about different compensation models, managing expectations, and--this part is important--the entrepreneurial spectrum of associates.
They cover how market conditions and practice size influence strategies, the importance of guaranteed compensation, retention strategies, and finally, the reality of ultimately replacing associates. 




Leave a note for Richard to ask George something: Richard@SharedPractices.com

Caitlin and Richard talk about evaluating and improving leadership skills. Today we're emphasizing self-reflection, personal development, and nurturing future leaders. We'll hit on practical strategies like using checklists, encouraging team feedback, and managing team dynamics.