In this episode, Kevin Henry speaks with Jason Gamble from U.S. Bank about the importance of financial planning and building a strong advisory team for dentists looking to scale their practices.
They discuss common mistakes dentists make when assembling their teams, the significance of understanding business structures, and the role of specialized certified public accountants (CPAs). Gamble emphasizes the value of a lending partner who aligns with the dentist's vision for growth and explains why earnings before interest, taxes, depreciation, and amortization (EBITDA) is a critical metric for evaluating practice performance. The conversation concludes with advice on intentional growth and planning ahead.
For more information, reach Gamble at [email protected].
Podcast takeaways
- Start building your advisory team early to avoid future complications.
- Transitioning to a holding company is crucial for growth.
- A dental CPA can provide specialized knowledge and save you money.
- Lending partners should align with your long-term goals.
- Understanding EBITDA is essential for practice valuation.
- Mistakes in financial calculations can lead to significant losses.
- Networking is key to finding the right dental CPA.
- Intentional scaling leads to greater success than opportunistic growth.
- Your advisory team is your foundation for success.
- Planning ahead is never too early.
