A lot of time is spent talking about the “why” of ownership, and although this is critical to keep in the forefront of your mind, looking for answers around the “how” is the next logical step.
Job hunting is an arduous process. From struggling to find opportunities and evaluating your options to interviewing and negotiating your pay, finding your dream associateship is stressful. Asking the right questions helps you decide if an opportunity is right for you.
Dr. Mark Costes has a wealth of experience in leadership and practice management, having owned more than 15 dental practices and employed hundreds of people throughout his career. He now has a group of seven practices and a consulting company in the Dental Success Institute. What qualifies him to be a coach? “Having made all the mistakes in the book,” he says. He urges dental students to learn from his experiences, immerse themselves in all of the free self-education resources out there and get out of their comfort zone.
After working as an associate for a couple of years, you’ll start thinking seriously about whether to become an independent practice owner or remain an employee for your career. This is a personal decision and there really isn’t a right or wrong answer, unless you make the decision based on bad information. I’ve heard dental students and recent grads share a few misconceptions over the years about what it’s like for those who choose to become business owners. I’d like to set the record straight here. Here are the three biggest myths about owning a practice.