March 14, 2021
Hello friends and clients!
The end of March is here and we welcome it. I hope all of you are on pace with your goals or are exceeding them. If you are below your numbers do not sweat it, we have 3 more quarters to grind it out. Dig deep to find out what is working and more importantly what is NOT. From there the answer should be clear. Focus on the ONE THING every day that will move you closer to the end result.
A Paycheck Protection Program (PPP) update! A lot of you got your 1st round of the PPP loan forgiven. Many of you just applied. Do not fear. The banks are processing these at their own rate. Either way, those of you that participated in it will soon enjoy the benefit, once it is “off” your books (officially). Congratulations to everyone who took advantage of the 2nd round. The requirements were slightly different, but had the same intent. It’s not too late for those who still want to participate so apply now! I think you all will agree, we live in unprecedented times. History is being written!
Although the COVID19 virus is still impacting many communities, we are seeing the numbers grow and stabilize for many of our clients around the country. Confidence levels in our communities are elevating with the vaccine shots being delivered on a daily basis. Overall, we are in a much better place than last year, that is certain.
Lastly, NLC has HUGE announcement to make and I could not be more excited to share it with all of you. If you have been following us on social media, this should not be a surprise. Our firm grew by one this month with the acquisition of Paula Quinn, BSDH. Thanks to her 30+ years in dentistry, Paula brings us a tremendous amount of experience.
Aside from owning her own practice in Phoenix AZ, she is also a practicing dental hygienist and an international educator and speaker for Invisalign and Biolase. Her background in and out of the dental practice gives her a unique skill set that brings incredible value to each of her patients and consulting clients. We welcome her to our team and invite anyone that’s interested in practice management to reach out directly to her at email@example.com.
The future is bright,
|Michael Dinsio, MBA|
Founder, Next Level Consultants
Business Focused Webinars
Live Webinar: Great Leaders Start Here!
April 28, 2021, 6pm MST
Colorado Dental Association
We will explore the foundations of leading yourselves, your teams and your practice. In this first course of our series, we will deep dive into the value of having written mission and vision statements. You will learn how to build and execute goals that will propel you and your team to the next level in your personal and professional lives.
1.5 CE Credits
Sign up here
In this episode Michael Dinsio and John Bertagni talk with Ian Lynch from Legend Networking. He started Legend Networking 📶 because of his passion to do the right thing for the start up dentist. His passion is to make sure your dental office is set up right from the start and there are no surprises 😳 later on down the road.
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Thinking About Your Exit Strategy?
Our Membership Plan Can Help!
Next Level Consultants and Omni Practice Group have teamed up to deliver a power-packed program that will help maximize your practice’s value when you decide to sell.
Developing a coordinated exit strategy is crucial to ensuring the sale of your practice is more predictable and can achieve an optimal valuation. Time is of the essence… so make it count! Our team has helped hundreds of dentists obtain a snapshot of where they stood before a focused effort, then provide a predictable plan to get them in a better place. We look at your hygiene department to identify opportunities within your existing patient base, as well as provide fee schedule, zip code, team member, and real estate evaluations.
Client Spotlight: Hannah Doan, DDS
1) How does it feel to be a new owner of your very own practice?
It feels liberating to be my own boss. It’s not like owner doctor can do whatever they want right and left because we need to consider the team, the cashflow we have, the existing culture of the practice, the patient population, but definitely I have more freedom to plan ahead and make some small change throughout the year toward my vision for the clinic. I also feel much more secure that now I can design my own future.
2) What’s the one thing Next Level has done for you that made the biggest impact?
Thanks to Next Level, I got to know the seller doctor and persuaded her to sell the practice to me. It was an off-market deal so without NL, this would never happen.
3) What has been the most challenging thing about being a practice owner?
Transitioning from a clinical doctor to a manager/ CEO of my own company – learning how to read P&L and understand it, making some initial investment, controlling overhead etc. During pre-ownership, I tried to learn a lot about these topics from joining lots of facebook dentist groups as well as listening to lots of podcasts. However, having someone there to guide you through definitely helps a lot as every practice is unique on their own way.
4) What would you have done differently if you had the chance to start from the beginning?
I would not do anything differently thanks to all the help from Next Level.