Remember when exit planning was the last thing on your mind?
Remember when you were starting your business? If you’re like most of us, odds are you didn’t know exactly what you were doing all the time, and had to learn along the way. Yeah, it was probably fun, but you may also have said to yourself every once in a while, “If I knew then what I know now…”.
That’s exactly what you don’t want to have to say after you’ve left your business, and a great practice exit strategy goes a long way towards never having to! By not preparing to exit your business properly, you’re leaving yourself open to all sorts of unpleasant scenarios when you finally do exit: unforeseen selling or succession issues, paying more tax than necessary, issues with your family or employees, the very viability of your business as well as the plans you have made for your future.
You certainly won’t have time for the kind of steep learning curve you had at the start of your business, and you won’t get a second chance. However, tackling the exit planning process early puts you in control of the timing, options and outcomes of your dental practice transition and allows you to engineer the results you deserve. It also creates many tangible benefits that apply to your personal and professional life right now, as well as in the future.
How to prepare your own exit strategy
To find out how to maximize the value of your dental practice when you’re ready to sell, I invite you to download my ebook “Unlocking Your Practice Exit Strategies”. The book provides a sound business exit strategy template you can refer at any time. Tap the image at the bottom of the page to get the download.