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4 paths to winning in dentistry

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Traveling the country with igniteDDS, I’m blessed with opportunities to speak with students like you every day. This time of year, one theme prevails.

Residency aside, whats next?

So…residency aside, here are 4 paths to your success:

#1 Employee

#2 Associate

#3 Buy in/ Buy Out

#4 Start Up

Which one is best?   Which one’s best for you?

A wise Shakespeare once said…“To thine own-self be true.”

No truer words spoken. The key is understanding what each path offers short and long-term. When you understand the what, you’ll have the why. Today’s post…the high-view. If you’d like the details, click the links.

My team at igniteDDS has put hours into this so you don’t have to.

Employee

  • Short term (+)
    • Safety … initially.
    • No business worries.
  • Short term (-)
    • Little input in practice direction.
    • Minimal input in patient care.
  • Long term (+)
    • Mobility.
    • No business worries.
  • Long term (-)
    • > 80% failure.
    • No equity.

Associate

  • Short term (+)
    • Mentorship.
    • Reasonable safety.
  • Short term (-)
    • $ based on your production.
    • Little input in practice direction.
  • Long term (+)
    • Potential equity.
  • Long term (-)
    • If it’s the wrong fit, reboot & retool.

Buy In/Out

  • Short term (+)
    • Mentorship.
    • Autonomy.
    • Safety.
  • Short term (-)
    • $ when $ is tight.
  • Long term (+)
    • Autonomy.
    • Equity.
  • Long term (-)
    • Almost none.

Start Up

  • Short term (+)
    • Autonomy.
  • Short term (-)
    • High risk.
    • $$
  • Long term (+)
    • Great advice, $.
  • Long term (-)
    • Poor advice, failure.

~David R Rice, DDS, founder, igniteDDS

David Rice

Dr. Rice graduated in 1994 from Buffalo’s Dental School. In 1995, he completed a GPR. From there, he completed continuums at the Pankey Institute, Dawson & Spear Centers. He practices privately in Amherst, NY and is the founder of igniteDDS.

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2 Comments

  1. Ashley says:

    Thanks for the awesome outline of the various career paths for after graduation/residency! Super helpful!

  2. Anne Duffy says:

    David really understands the questions that new grads have upon graduation. Having been in their shoes, his content is always authentic and true. He will be the cover story on the next issue of Dental Entrepreneur: Business Beyond the Classroom, so be on the lookout the first week in April!

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