Description

This week Jonathan sheds light  on this dental crossroads, emphasizing that the devil indeed resides in the details. For those dentists with unwavering conviction in their own vision and a clear roadmap for the milestones ahead, the startup path beckons. It's a journey of forging your own legacy, navigating each challenge with a well-defined process.   On the flip side, if you're eager to take ownership but prefer a gentler learning curve, the acquisition model may be your ideal starting point. With acquisitions, you gain the luxury of inheriting someone else's past decisions. The key, Jonathan advises, is ensuring those prior choices align with your own views as a practice owner. It's a remarkable way to get a head start on your dental career!  Tune in to discover which path suits your vision and goals best!  

Key Takeaways:

1. Startups are easier for dentists with a clear vision, while acquisitions provide a safety net for those who are unsure.
2. Seek advice from experienced professionals who have achieved what you want to do.
3. Approach banks for financing at least a year in advance to understand their requirements.
4. Reapplying for a loan is usually not an issue as long as there are no significant changes in your financial profile.
5. Interest rates may fluctuate, so it's important to close on a loan within a few months of approval.

About Jonathan:

Jonathan spent almost 10 years with one of the largest dental-specific lenders in the country. His focus was helping dentists evaluate their first practice purchase or through help with obtaining the right project financing for a scratch start-up. During that time he helped open over 200 new “De Novo” dental offices and performed as a project manager and financial analyst for first-time practice buyers. In total he has helped close to a thousand doctors all over the country find their first practice to purchase or start their first practice. As a result of his reputation and relationships, he was invited to speak year after year to some of the top dental schools in the country like UCLA, Loma Linda, Western University as well as the University of Pennsylvania and Temple.

It was his passion for first-time owners that led Jonathan to leave corporate banking and follow his passion to help those to seek accurate information instead of affirmation. Since 2016 he has helped close to sixty first-time owners buy or start their optimal practice. He even wrote a book titled “Don’t Sweat the Startup." As an advocate, Jonathan can show doctors the path toward practice ownership while minimizing their risk and taking away the fear of the unknown. With the help of his relationships in the industry, he can show doctors how to grow their practice and build their brand while maximizing their return on investment.

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Connect with Jonathan Miller: @startyou_practice