Episode Summary:

In this episode of Practice Growth HQ, we’re back with Part 2 of my chat with Joanna Oakey, Managing Director of Aspects Legal and host of The Deal Room Podcast. This time, we’re diving into something every practice owner needs to think about: retaining your best staff and planning your exit strategy.

Joanna breaks down how offering equity to key staff can keep them engaged, boost retention, and help set you up for a smooth transition when it’s time to step away from your practice. 

This episode is packed with no-nonsense strategies, so if you’re serious about keeping your best people and planning your future, don’t miss it!

What you’ll learn: 

 

• (00:23) How sharing ownership with key staff can lock in retention

• (02:45) Why planting the ownership idea early is key

• (04:10) How equity incentives shift staff from a “job” mindset to an “owner” mindset

• (05:00) Why patient loyalty is critical when you hand over the reins

• (06:25) What an “earn-out” is and why it’s often part of the deal

• (08:15) How to price your practice fairly when selling to staff

• (10:00) The one legal document you must have in any shared ownership deal

• (11:00) Common mistakes people make with equity-sharing—and how to avoid them

• (12:20) Why you need a great lawyer to make it all run smoothly 

• Plus loads more! 

 

Links and Resources: 

Website: https://www.aspectlegal.com.au/ 

Book: BUY GROW EXIT

Discount Code: PRYOR24