DecaMillionaire Decoded As an established dentist, Should you Open a New Office location?
Dental entrepreneurs are very near and dear to my heart. Over the years, I've worked with so many of you, and I hear from even more who follow the Financially Simple Podcast. That's why these past few episodes have been especially geared to each of you. Although you experience many of the same struggles that are common across all industries, there's also a uniqueness about the way a dental practice operates.
In this episode, I am wrapping up the miniseries I've devoted to dental entrepreneurs by looking at whether now is the perfect time to open a new office. I discuss the pros and cons of trying to open a new office from scratch while running a fully operational practice. Likewise, I uncover some of the necessary steps to take that will give your new office the best chance to succeed. This week on The Financially Simple Podcast:
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(1:00) Why you might be considering opening a new office
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(3:10) The benefits of starting a new office from scratch (Pros)
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(7:39) The downside of opening a second location (Cons)
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(11:00) What can you do to make it successful?
Our Favorite Quotes:
"Owning a business is one of the most demanding jobs a person could have. However, with the right team in place, you can delegate some of the responsibilities and free up some of your time." - Justin Goodbread
"Believe it or not, opening a new office will be a lot like opening your first office. Of course, no two businesses are ever the same and they will each present unique struggles and opportunities, much like raising kids." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you’ve come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin’s combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.
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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).
This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.