What does it mean to treatment plan your transition? It’s all about thinking strategically when it comes to the future of your career and the important relationships you will inevitably align with your goals.
Many dentists in the prime of their career decide it’s time for an associate to join the practice. Often it is because there is an overflow of patients or the senior doctor is interested in slowing down, taking more time off, and eventually planning for their retirement.
Over the course of my career I’ve had four associates. One who took over a satellite practice I had purchased and three who moved on for various reasons. Even one who walked away from the “altar” when we had spent months planning to formalize the legal documents for a partnership.
Lessons From a Professional Transition
What I’ve learned is that although the legal documents are important, it’s really the Core Values and Philosophy of the potential partner that form the glue capable of binding a solid long-term relationship.
Once you have determined (usually with the help of a good practice management expert) that your business can financially support another dentist, it’s important to then reflect and put into writing the core values that are unique to you, your practice, and your philosophy of practice and life.
Share your core values with all potential associates and future partners. Make sure you are aligned in your principles and ideals. With a shared set of values you now have the blueprint for a successful future.
I eventually found a partner to transition my practice to. It is our shared core values of Excellence, Relationships, and Balance that solidified our future and kept us on course for a successful transition.
What professional skills have you acquired over the years that have helped you throughout your career?