The 3 Essential Things You Need to Know About Yourself Prior to Purchasing a Practice With Dr. Sonny
In this interview, Dr. Drew Byrnes sits down with Dr. Sonny Spera to talk about practice transition and acquisition. Sonny has years of experience buying FFS practices and making them successful. He shares:
1. Self evaluation
A- what type of personality are you?
B -What drives you?
C- how do you feel about decision making? D- how do you feel about consequences and making the decisions needed based upon consequences - good or bad?
2. Leadership qualities
A- there are tons of leadership tests that you can take
DISC test- testing on two simple questions: whether a person is task or people oriented and whether is he active or passive.
Briggs-Meyers indicator test-designed to observe how individuals perceive and react to the world.
Five Big Personality traits- The five factors are Openness, Conscientiousness, Extraversion, Agreeableness, and Neuroticism.
Bottom line - If you and your team are gonna go down the toilet do you want your hand on the flusher?
3. Practice philosophy
What kind of dentist are you?
What are your strengths and weaknesses? Clinically and personally?
How much do you live and breathe customer service? Many say customer service is key however most do not walk the walk….
Business v dentistry decisions..- hygienist wants 60 minutes for adult prophy and you think it has to be 40 minutes due to the financial climate?
Scope of practice- what procedures are you doing and what are you referring? What excites you the most in dentistry? What if any are areas you want to expand into?
Group practice? Or solo?
Hours of operation?
Do you want to build your barn first or build your house
Do you have a FFS practice? Would you like to be interviewed? Fill out the FFS Stories request form here:
Episode resources:
Dental Membership Direct
Dental Financing Direct
Dental Membership Master Course with Dr. Chris Phelps