116. Associateship to Ownership Part 1 with Dr. Jackson

The Millennial Dentist

Dr. Jackson is a current associate who is about to take the leap to ownership! It’s very exciting for him and we’re really happy for him and this opportunity. Of course it is a blessing and a curse because we are now faced with replacing him, but with transparency early on, we knew this would happen one day when we took Dr. Jackson on as an associate.

Our conversation today is all about this upcoming transition for Dr. Jackson. He is moving from associateship to ownership and it’s going to happen quickly, so in addition to him sharing the process he’s gone through, he also takes the time to ask questions, share his fears, and discuss the big decisions he’s faced with.

If you’ve ever considered moving from associateship to ownership or you are a current owner aiding an associate to do the same, this episode is full of the ins and outs of making this adjustment.

Show Notes:

[01:26] - As an associate, you only work on dentistry. As an owner, there’s more behind the scenes.

[04:13] - Part of Dr. Jackson’s decision was a personal choice for his family.

[06:31] - Dr. Jackson shares his search for a practice.

[10:23] - Moving from an existing and successful practice to owning a smaller one in need of improvements is an adjustment.

[13:10] - Where should you focus your spending on updating your new practice?

[18:50] - It’s important to consider sales reps and distributors.

[26:42] - Should you keep things the way they are when you take over a practice or rip off the bandaid and make changes right away?

[29:47] - Consider what needs to change when it comes to current team members.

[33:52] - In the first two years, the challenge is to focus on closing dentistry.

[36:03] - Learning to effectively communicate is the least flashy skills to improve but it is the one that moves the needle forward the most.

[37:47] - You’re going to be successful early on.

As always, thanks so much for listening! If you like the show, we would love for you to review the show on Apple Podcasts as well as spread the word! If you have any questions or want to get in touch, shoot me an email at [e-mail].

Links and Resources

Richard Sullivan, DDS

Partner, Sullivan Dental Partners

Co-host/Founder of the Millennial Dentist Podcast

http://www.millennialdentist.com

www.drsullysullivan.com

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