In this insightful podcast episode, we delve into the topic of valuations and end goals in dentistry. What factors should dentists consider when assessing the value of their practice, and how can they align their end goals with their financial aspirations?

In this episode of the Dentrepreneur Show, Dr. D. Todd Russell interviews John McNabb, CEO of CanaDent Corporation. John, with a proven track record in mergers and acquisitions exceeding two billion dollars across diverse industries, engages in a discussion with Todd about the importance of humility and recognizing limitations for future success. With extensive experience in management and executive roles within renowned Canadian and international banks, specializing in complex corporate financings and risk management, he has since served as a financial and operational business advisor. Most recently, he focused on dental management consulting, particularly in practice acquisitions. John's skill set encompasses strategic planning, risk management, marketing strategy, financing, exceptional negotiation skills, and effective leadership capabilities.

Furthermore, in this podcast episode, John, focusing on dentists, emphasizes the significance of setting aside ego and acknowledging the need for continuous learning and seeking mentorship. The host agrees with this perspective and expresses interest in inviting the guest back to the show. They also inquire about how listeners, particularly in Canada, can connect with the guest, especially those looking to merge or sell their dental practices. The episode underscores the value of humility and the willingness to learn from others in order to achieve success, while also shedding light on the importance of dentists broadening their perspective and acquiring business acumen for long-term financial success.

They will touch on such topics as:

• Leveraging relationships for business growth and the significance of humility and recognizing limitations for future success.
• The importance of dentists setting aside egos and embracing continuous learning, Toronto's growth and multiculturalism, and venture capital and private equity.
• The focus on clinical skills rather than business management in dental education, the importance of rising interest rates and valuations, and the rolling disaster series: “I would rather keep my cash safe and have it available to use when I need it, rather than taking a shot at something.”
• Lack of transparency in acquisitions and business acumen among dentists and the challenges of buying and selling practices: "On day one of being an owner, you should start thinking about the last day of being an owner."
• Standardizing the acquisition process, DSOs and dental practice value, how staff turnover affects practice cohesion: "Unfortunately we human beings learn fastest and most effectively from pain rather than pleasure."
• Broadening perspectives beyond clinical aspects for a successful dental practice, the importance of building a larger practice for long-term financial success, prioritizing skill development and revenue generation strategies.

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Connect with John McNabb:

• Phone: Office: 416-551-5660 / Cell: 647-991-7219
• LinkedIn: https://www.linkedin.com/in/john-mcnabb/
• Website: http://www.canadent.ca/
• Email: [email protected]

Connect with Dr. D. Todd Russell, DDS:

• Website: https://dentrepreneurllc.com/ 
• YouTube: @DentrepreneurShow
• LinkedIn: Dr. D Todd Russell, DDS
• Twitter: @drtoddrussell

Quote: 

"The smartest person is the person who knows what they don't know because it's that person who can go out and find sources of information to mentor them and to help them learn. The person who is most dangerous to themselves in terms of future success is the person who thinks they know it all." - John McNabb