Free up your time for the things that matter – Rebecca Bird

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  Posted by: The Probe      3rd April 2018

Running your own dental practice is a time consuming task. Operating a successful business model whilst still providing patients with exceptional care is a difficult balance, and juggling the two can leave you with no time to dedicate to the other aspects of your life.

Keeping a modern practice running smoothly requires almost constant attention. From taking the time to ensure marketing materials are engaging enough, to researching which new technology to invest in, overcoming the multiple challenges can be an uphill struggle.

These challenges provide more pressure when you have to balance them against your social and family commitments. If you find that you’re sacrificing important time to keep your business running smoothly, it may be the moment to consider selling your practice to give you more freedom.

Concentrate on patient care

One of the most rewarding parts of dentistry is seeing to the needs of your patients and building relationships. By removing yourself from all of the red tape and administration, you can focus your skills once more on providing exceptional patient care.

With more time available you can see higher numbers of patients or take targeted training courses to hone your skills and gain new knowledge in areas of dentistry that could even lead to you specialising or expanding further within your profession.

Putting your family first

Michael J. Fox once said, “Family is not an important thing. It’s everything”, and studies have shown that building good relationships with family can have a significant positive impact on an individual’s happiness.[i] Maintaining a balanced family/work life can be difficult, but by freeing yourself from the responsibilities of practice ownership, you are far more likely to succeed.

Spending quality time with family and friends can take many forms and no matter how you want to connect with them, having more available time will give you the opportunity to do so. Whether that’s taking a group holiday or simply going out for meals or going shopping together, these shared experiences can add enjoyment to your daily routine.

Discover something new

We all have those dreams and hobbies that we put on the backburner when work takes over. By selling your practice and alleviating yourself of ownership duties you can redirect the hours currently spent worrying and discover something new. Whether that’s taking up a hobby such as painting or scuba diving or going on the trips you’ve always wanted to do, you have more opportunity to cultivate these new skills and explore new experiences. This can lead to higher job satisfaction, which can then have a positive effect on the practice as a whole.[ii]

But isn’t selling stressful?

Finding a buyer, the necessary legal fees and, ironically, the time to sell your practice can seem like a daunting task at first, but this doesn’t have to be the case. Depending on the marketability of your practice (the quality of your existing website etc.) and your current size, technology and staff, selling your practice may be easier than you would think.

Proud to be a group who is committed to providing excellent patient care, Rodericks Dental offer free valuations, and can complete the whole buying process within as little as 12 weeks*. Able to meet you outside of normal opening hours so as not to disrupt your patients or staff, the team can also contribute to the legal costs if you choose one of their recommended legal representatives, reducing the financial worries that selling can sometimes entail.

Make sure you know what time means to you

Having the free time to develop your interests, hobbies and look after your family is an important part of achieving a good work/life balance. Everyone will have different priorities at different stages of their lives, but by examining how you’re spending your hours against how you feel about work and home, you can see if any changes need to be made.

Selling your practice is a straightforward solution to giving yourself more time, which in turn can result in a better life and work satisfaction, more focused patient care and the freedom to develop your skills.

For more information, please visit www.sellyourdentalpractice.net

Please contact Rebecca Bird at acquisitions@rodericksdental.co.uk or on 01604 602491 (option 5)

#wearerodericks

*12 weeks from the signing of Heads of Terms

 

[i] Diener, E., Seligman, M., (2004). Beyond Money – Toward an Economy of Well-Being. Link: https://internal.psychology.illinois.edu/~ediener/Documents/Diener-Seligman_2004.pdf [Last accessed Feb18].

 

[ii] Oswald, A. (2009). Happiness and Productivity. IZA DP,Volume 4645. Link: http://ftp.iza.org/dp4645.pdf [Last accessed Feb18].

 


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