Pay Attention to THIS When Purchasing an Additional Practice

Tiff and Trish discuss the need-to-know info for the buyer of a practice, including team member transparency, new patient inflow, software use, and more. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: The Dental A Team (00:01) Hello Dental A Team listeners. We are back again I have Trish with me because I freaking adore her and I the we just recorded a podcast We record a few at a time. You guys know that I batch them It's called efficiency and that will be on my tombstone per Kiera. She tells me that every day It will it will if it's any vision. I'm like, oh my gosh, this is like grating cheese by hand like come on anyways We are here today and we just recorded a podcast. So these are kind of serendipitous that they're back to back and it ended up this way in a weird way. So I don't have to go down that rabbit hole, but we just recorded a podcast on this seller's perspective of how to ensure that you're always ready and prepped to sell no matter where you're at in your journey, making sure that 10, 20, 30, five, two years down the road, you can sell your practice and that it's not as... as stressful an event as it would be if you were unprepared. So I can't say we can remove all the stress. I can say that we can remove some stress that is just unnecessary. So today, now, I really wanted to look at the buyer's perspective. And we kind of hit on both a little bit on the last one, but this one's gonna be a little bit different. So make sure that you listen to both. Doesn't matter which order, I don't think. We'll find out by the end and I'll tell you if you should have listened to the other one first. I know, I know, inefficient, but it's okay. So Trish and I are here today. You guys know I adore Trish. If you just listened to the Sellers one, which you should, ⁓ you heard me just rave about Trish. And Trish, love, I realized when I was recording with Monica a couple of weeks ago, which those were fantastic, you guys, if you need information and ⁓ ideas on training your team and operations manual, et cetera, all those pieces, Monica has some stellar ideas over there. But I realized Trish, while I was Recording with Monica, I love podcasting. I love this aspect. I'm just a weirdo like that. But I love podcasting with you guys. And I realized in the beginning ⁓ with Monica, it was our first time podcasting together. And it was the first time that I got to rave about Monica and just really say all of the things that I love about her and I think is just so incredible about her with her consulting and just who she is as a human. And I get to do that with you guys here in this platform. And Trish, you're one of my favorite people to rave about. love all of our consultants. You guys hear me rave about them, but Trish is such an incredible human being. It is impossible to describe you. You're just multifaceted. And I realized this is my brag session time. And I'm like this, I love it. It makes me so happy inside. DAT Trish Ackerman (02:37) Thank I that. The Dental A Team (02:49) to just watch you guys thrive and to get to just tell the dental community how amazing you guys are and how special it is for them to get to hear from you and to get you guys in person with them and working with their teams and the leadership that changes the profitability that I've seen come out of everyone's work is so cool. And I realized with Monica, I'm like, this is why I love podcasting with them because I love getting to love on you guys. It's just so cool. So thank you for, I hope so. Dana's over there. just always like ask her about workout stuff, you know, and I'm like, she's, I love on her too, but I'm always like, what's your hair product? What's your, what's your workout? It's fine. It's fine. ⁓ so thank you for letting me have this space Trish and for, ⁓ always being open to all of the things that I need. ⁓ your, DAT Trish Ackerman (03:19) We'll take it. Thank The Dental A Team (03:43) one of those people that I know I can trust to just be myself. So thank you for that. Thank you for being here today. Of course, of course. I love my job. So with that said, number one piece of suggestion that I have before we get into this buyer side, Kiera and I, have been at this for a little while with the Dental A Team and DAT Trish Ackerman (03:46) You're welcome to attend, thank you. The Dental A Team (04:06) Carers Dental Consulting and Dental Masters and whatever name we decide it's been the Dental A Team for a long time and it's going to stick the Dental A Team, it's not changing. But we have had a couple of renditions and one piece that I know we have gotten really, really good at, but that we've really had to work hard at. And from a buyer's perspective, a seller's perspective, I think this is insanely relative, the people. We have worked really, really hard at the people aspect and pouring ourselves...