Increasing the Value of Your Practice Every Year

This episode discusses the importance of increasing the value of a practice every year, especially for early practice owners. It emphasizes the importance of constantly improving and increasing the value of a practice, even if it's not sold later in life. The most valuable asset in a dentist's net worth is their practice, which can be the value of their home, practice, or other investments. The value of a practice is likely to be a significant part of their net worth, and it's not taxed until a transaction. This strategic investment in one's practice can be customized based on factors like clinical mix of services, whether it's a solo or multiple doctor practice. The episode emphasizes the importance of focusing on the value of a practice and its potential benefits.