I’m not breaking any news by telling you that goodwill values in independent dentistry are overheated. Yesterday I was asked to give an opinion on the proposed purchase of a small private practice less than 5 years old, moderately profitable for the last 3 years and offered at over 7.25 times adjusted earnings. That may
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Today, I’m looking forward to an uninterrupted day in my basement office, The Barrow Bunker. Days like this are very rare (this one has only happened because of a short-notice change of personal plans) and looking at the blank space in my calendar is making me feel excited. This is what I’ll be doing today:
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On the recommendation of my coach Rachel Turner (and others) I’m currently reading “Deep Work” by Cal Newport and, even though I’m less than half way through the book, I already know that the author has me thinking deeply, questioning the way I work, opening me to change. I’ll not attempt a synopsis of the
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Here are some questions to think about. Do you know the profit margin on: each product that you sell? each service that you provide? each surgery that you operate? each fee-earner that you hire? Based on experience, the majority of readers will answer “no”. In 20 years of full-time dental business coaching and over 2,000
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In the 20th Century, learning was viewed as a phase that took place early in one’s life. The objective for all socio-economic groups was to “get an education” and then decide on “a trade or profession”, whether or not that was in the public or private sector. Game sorted – 45 years of work, marriage,
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Upton Sinclair was an American writer and political activist who, in the mid 1930’s, wrote a series of allegorical novels that exposed poor working conditions in various USA work environments between the World Wars. He first coined the term “white collar worker” to describe those who were involved in professional, managerial or administrative work. He compared
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Payroll costs in dentistry are increasing as a percentage of sales. To maintain your profitability, are you going to have to pass on that cost to your patients? Consider the alternatives: pay less wages to fewer people pay yourself less make less profit It seems that most owners are choosing the last of these options.
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About 6 years ago I was approached to become involved in a new business and, as part of my research, enjoyed a fascinating dinner with the senior partner in a Private Equity firm. His “job” was to invest between £50m to £100m per project – each time in an existing business that had plateaued, with
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Welcome to Two Reds are Better than One – the Chris Barrow and Ashley Latter Podcast. In this episode we interview Ushma Vaidya, Marketing Manager for Tri-Dental, an 8-location micro-corporate in the UK. You can listen to the podcast episodes using your favorite player or where we publish them on Libsyn. You can also catch the
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It’s really hard to swallow isn’t it? When a member of your team hands in their resignation and tells you that they are moving to another practice in the area for a few more pounds/dollars per hour? 20 years ago I was running a dental workshop in my home town of Manchester, attended by a
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