"Trust but verify the facts."
 
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Summary
 
In this episode, Jill Allen interviews dental attorney Levi Barlavi, who shares insights on the importance of understanding the 'why' behind practice ownership, the emotional readiness required for new business owners, and the risks involved in starting or acquiring a practice. Levi emphasizes the need for a supportive team and the value of asking for help, while also discussing common mistakes made by first-time buyers. The conversation also touches on Levi's rebranding to Polished Legal and the importance of continuous growth and adaptation in the dental industry.


Connect With Our Guest

Polished Legal - https://www.polishedlegal.com


Takeaways

• Understanding your 'why' is crucial for practice ownership.
• Having a clear vision can guide your career decisions.
• Emotional readiness is key when starting a business.
• Risk is inevitable; understanding it is essential.
• First-time buyers should seek experienced counsel.
• Don't hesitate to ask for help from mentors.
• Trust but verify during negotiations.
• A good negotiation should feel uncomfortable for both parties.
• Less than 1% of bank loans default, indicating manageable risk.
• Surround yourself with supportive cheerleaders.

Chapters
 
00:00 Introduction to Dental Law and Practice
02:14 Understanding the 'Why' Behind Practice Ownership
06:37 Emotional Readiness for Business Ownership
10:14 Evaluating Risks in Practice Ownership
17:57 Common Mistakes for First-Time Buyers
22:30 Navigating Early Career Challenges
22:59 The Importance of Asking Hard Questions
23:59 Due Diligence in Business Transactions
25:12 Negotiation as a Collaboration
27:54 The Value of Rejection in Business Deals
29:02 Rebranding for Growth and Expansion
30:01 The Journey of Entrepreneurship
34:57 Advice for Aspiring Practice Owners
41:00 Speed Round Insights 

Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice?

Reach out to me- www.practiceresults.com.    
 
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Episode Credits:
 
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero