The Delayed Ownership Trap

Brian Hanks wrote an excellent article in Dental Economics for would-be dental practice owners. In his article, he argues that:

• Delaying pracitce ownership can cost dentists million of dollars in lost compounded income. A dentist's high-powered income earning years can be lost if spend to enrich an employer.

• Since most dentists will eventually own a practice, it is best to own one earlier in a dental career rather than later.

• The myth that student loans are a barrier to ownership is just that - a myth. Owning a practice is the fastest way to generate wealth, thus allowing the student to quickly pay off school debt.

• Buy a practice when you are fully informed about the opportunity. Waiting for the perfect moment or feeling fully ready is not the best approach.

To read Mr. Hanks's article, click here.