Articles

For those of you unfamiliar with dental practice financials, you may be forgiven for thinking that if you’ve seen one, you’ve seen them all. That they all follow a similar structure or template, and that the practice’s income and expenses will always be labelled somewhat consistently from practice to practice. The truth of it is that the structure and quality of dental practice financials can vary enormously.

PSS recently expanded its team by adding a new National Account Manager, Michael Brivulis. Before joining PSS, Michael worked in dental practice acquisitions and practice builds for two major Australian dental corporate aggregators; he also worked in the financial services sector for more than 15 years. 

I have found that since selling the business, I sleep better and get up earlier now because I want to, not because I have to. I am not dragging myself out of bed

When dentists decide to get into ownership, they spend many hours analysing possible practices to buy or sites to start up in. They fill spreadsheets with costings and projections, competition analysis, ideas and business plans before they act.

One of the first questions that a buyer will ask when a business is for sale is “Why are they selling?” 

Paul has been part of the PSS family for 3 years now. He is our man on the ground in New Zealand, and consistently gets fantastic feedback from his clients and buyers. What do people really know about the man behind the deals? 

There is an urban legend that if a frog is suddenly put into a pot of boiling water, it will jump out and save itself from impending death. But, if the frog is put into lukewarm water, with the temperature rising slowly, the frog will keep trying to adjust and acclimatise…until it’s too late. 

I was glad to finish up but emotionally, selling my father’s practice and letting go of the legacy he’d left behind was a difficult decision. My family had seen 5 generations of patients in the area.

While I love dentistry, I love life more. We don’t have kids and my husband and I worked out the numbers we needed to retire on…and as soon as we reached what we needed, we stopped. We made the decision to live every second of our lives as best we can. I've never been happier!

There is a common saying that running a successful business and having a successful career is a “marathon, not a sprint”. The saying is meant to remind people to think long term, to pace themselves and have longevity in mind, rather than just short-term results.