Whenever you have significant environmental changes such as the COVID-19 pandemic there will inevitably be parties who will look for ways to take advantage of the situation. We will be addressing two issues in this week’s blog post, the “predatory threat” and our recommended solution. As we begin to emerge from the pandemic (and to be clear that we are only just at the beginning of this process), there will be a lot of…
“Timing is Everything” – it has been said at least a million times, but when it comes to selling your practice it perhaps has never been truer.
We are just now emerging from the most complicated economic and human tragedy that most of us will ever experience. In economic terms alone the cost has been staggering, well into the trillions of dollars. But of course, you know that all too well, as you have also…
At some stage, this storm will pass.
Things may not get back to normal right away; in fact, we don’t really know what the new day to day operational normal is going to look like.
What we can do, however, is make some educated speculations as to what might happen to the marketplace. Historically speaking, practice values have always recovered very well after significant financial crises. A relatively recent example of this is the very strong…
At this stage, I think everyone has had enough self-isolation. The fact that we know how important self-isolation is doesn’t really help with the cabin fever. I think it would be safe to say that just about everyone would like to see things get back on the road to “normal”.
Let’s look at how dentistry could play a huge role in making that happen.
It is universally suggested that in order for the economy to get…
In an effort to support our clients and community during this uncertain and challenging time, Hill Kindy is offering a 50% discount on appraisal services. We encourage all practice owners to use this mandated down-time to your benefit and gain a better understanding of your current business operations, practice potential and practice value in order to be best prepared for whatever lies ahead.
As we are most concerned with the health and safety of our…
We have previously addressed the issue that practice value is a function of profit. Increasing your profit not only provides you with more cash flow, it also increases the value of your practice. Profit is the result of subtracting your expenses from your gross revenues, so to increase your net profit you can do it by increasing your gross, decreasing your costs or a combination of the two. A combination of the two would…
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Transition your Practice with Hill Kindy
Are you nearing retirement? Creating an exit strategy for 1-10 years down the road? Looking to take advantage of your practice’s full potential? Whatever the reason, we will help you…
Complimentary Seminar Alert!
Topics to include:
Dates & Locations:
We will have the following industry experts as your hosts,
Derek…
Back in March we posted a blog titled “What is Your Biggest Expense?” that focused on the need to look at your financial world from a consolidated perspective. This is the first of two additional blogs whose purpose is to lay the foundations that will help, in this case, young dentists focus on a consolidated approach to their finances and which we will call “Wellth” for Dentists.
As a new graduate from dental school…
“How is my practice doing compared to other practices out there?” A common question that we are often asked particularly by dentists looking to sell their practices. Sometimes the answer is “not as good as it could be, but nothing that a few tweaks couldn’t fix.” The real question of course is how do we know; how could you know if your practice is doing well or not? The answer to that question should…
