How can early retirement and succession planning help you find the right buyer for your practice transition, ease your transition to exiting, ensure your practice thrives and provide excellent care and coordination for your patients? How will you create an exit strategy and a succession plan which are beneficial to both buyers and sellers of practices?

This week’s The Dave Kittle Show episode, Dave Kittle did a crossover episode and was interviewed on the Dentrepreneur Show, hosted by D Todd Russell, DDS. Dr. Todd is the founder and CEO of Empire Dental Arts, a successful dental partnership organization based in Northeast Ohio. He is an award-winning dentist and executive leader with 30+ years’ experience driving best practices across strategic practice operations and patient care. He is adept at identifying and executing disciplined operational and business strategies across dental facilities management, clinician teams, patient care, and organizational visioning. He champions sound, disciplined management planning to elevate practice performance and patient engagement. Dr. Russell is an executive and community leader who continues to advance provider excellence and optimize practice performance. With unmatched clinical and industry experience, he masters a collaborative leadership approach to surpass provider and patient expectations and drive innovative dentistry healthcare advancements.

Learn more about Dr. D Todd Russell, DDS: https://www.empiredentalarts.com/ and follow his channel here:

/ @dentrepreneurshow

They will touch on such topics as:

• Dave’s background in terms of entrepreneurship and businesses.
• At what point in the owner’s career should they start planning their exit from their businesses? What are the guidelines and approaches you can start working-on as a part of your exit plan?
• Legacy is always a possibility in exit planning. You can start to plan on who you can bring in as an associate in terms of understanding how big your practice is and make sure that you have a cultural match with the new owner
• How early should you start thinking about the exit path and learning about them (it doesn’t mean you’re gonna execute them)?
• How does EBITDA measure the success of a company and what it’s sold by?
• What are the factors of business valuation?
• What are the several options that are available if you are a private practice owner looking for advice on how to establish a succession plan?
• Private practice exit strategy and succession planning can take years, so it is essential to get an early start.
• Make sure to involve an experienced consultant at the outset that will help you walk through-out the strategy.
• Remember, your system and organization structure attracts your buyer.