You're a young entrepreneur wondering: how do I navigate the complexities of running a business? What are the most important aspects of valuing a dental practice's business, and how important is a well-thought-out plan?

In this episode of the Dentrepreneur Show, Dr. D. Todd Russell interviews Len Garza, the founder of GARZA, a highly reputable law firm specializing in safeguarding the personal and business assets of business owners and individuals. Len's expertise has earned him recognition in esteemed media outlets such as Forbes, Entrepreneur, Law Insider, CBS News Radio, and Inc. Magazine. Additionally, he has been honored as a Super Lawyer by Thomson Reuters and holds the highest rating of AV-Preeminent by Martindale-Hubbell, acknowledging his exceptional legal skills and professional achievements. Len is a sought-after lecturer, frequently sharing his insights on family business and wealth planning, preservation, and asset protection. His passion lies in educating his community and guiding business owners and their families in their journey toward building and safeguarding generational wealth.

In this episode, Len emphasizes the importance of business owners thinking beyond day-to-day operations and having a well-thought-out plan for the future. They highlight that business owners often have so much on their minds, such as what's coming up in the next week, month, quarter, or even a few years down the line. However, the host emphasizes that it is crucial for business owners to force themselves to think beyond these immediate concerns and ask themselves what they want out of their business in the long run.

They will touch on such topics as:

• Guest Len Garza discusses his background, being humbled by the experience, and the concepts of entitlement and empowerment of being an expert.
• The significance of being in the weeds of dentistry and being in charge: "Dentists are the head of maintenance and the chief of security."
• When is the right time to consider an exit strategy, the value of a well-thought-out plan.
• The key components of valuing a dental practice's business, the importance of having systems in place, and the things to know before selling: "Planning is a system, not a mindset."
• The legal profession has done well in terms of bringing in associates, how this has kept young dentists out of debt, and how success breeds success.
• The significance of surrounding yourself with experienced experts and the benefit of drawing on the experience of others, as well as the first phase of due diligence and what it entails for both a seller and a buyer.
• Who inspired Len to build his empire, how his first business was a nightmare, and the importance of being prepared for the unexpected: "Don't count your chickens before they're hatched."

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Connect with Len:

• Website: https://lgarzalaw.com/

Connect with Dr. D. Todd Russell, DDS:

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

Quote: 

"Everything is risky. Even going out on your own is risky. Staying in the position, maybe the job that you're at seems stable, but you don't really realize the risk that may be there. So it's like everything's risky. Pick your risk." - Len Garza