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The Dental Desk - Issue #16

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G A M B L I N G Y O U RC L I N I C ’ S V A L U EM E N T A L D E N T A LB U R N O U TT H EF R O M W E S T E R N C A N A D A ' SL E A D I N G D E N T A L B R O K E RM A G A Z I N EI S S U E # 1 6 • D E C E M B E R 2 0 2 3F O R M A L I Z E T OE N H A N C E D E N T A LP R A C T I C E V A L U EL I S T I N G S O N P A G E 1 4

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Page 4 - Ask The Expert:Economy Impact OnPracticesPage 7 - Gambling YourClinic’s ValuePage 10 - Mental DentalBurnoutPage 12: Fostering VitalRelationships WithinYour TeamPage 16: Formalize ToEnhance Dental PracticeValuePage 17: An UnofficialRecession In The DentalWorld Page 20: How PatientsMake Buying DecisionsDear Readers,The holiday season is upon us and I’m finding it hard to believe howquickly time is passing!This year has been exhilarating and challenging in many ways. Webegan 2023 busier than ever and hosted our first CE Health andWellness Winter Escape (which received rave reviews from theparticipants). However, rising inflation and rising interest rates,unprecedented staffing issues and a looming recession have createdmany challenges in the dental space.Despite all of this we still had one of our busiest years on record. Thereis so much action in the dental space - more than I capture in thismessage - and I commit to continuing utilizing the Dental Desk toshare information and educate readers on trends, successes andchallenges.I would like to take this opportunity to thank my team at Avail. This istruly the most dedicated and talented group of people I have ever bornprivileged to work with and I am eternally grateful for each and everyteam member and sales rep on this team.As we close out this first week of December, I would like to wisheveryone a beautiful, peaceful and happy holiday season. It has beenmy privilege to bring Avail’s services to you in 2023 and I look forwardto all we will accomplish together in 2024.Happy Holidays and all the best for a prosperous, healthy, peaceful,and happy 2024!CEO's MessageLooking ForFeatured Practice Listings?www.AvailDentalAdvice.comTHE DENTAL DESK MAGAZINE  | 2Founder, CEOAvail Dental Exit Advisory ServicesD A R R E N S H A N A H A NCLICK HERE

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*Join Us For Travel CE*Health and Wellness Conference:This event is focused on the Healthand Wellness of the doctor, his/herfamily and team.When:Tuesday, 20 Feb 2024 (Start)Saturday, 24 Feb 2024 (End)Where:Margaritaville Resort Palm SpringsNorth Indian Canyon Drive 1600Palm Springs, CA 92262United StatesQuestions? Contact Yvette ShanahanPhone: (403)701-8780Email: yvette@availdentaladvice.comReserve Your Tickets Now!OR

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Ask The Expert:D E N T A L I N D U S T R Yby Darren ShanahanFounder & CEO of Avail Dental ExitAdvisory Services & has been in theindustry for more than 10 years.Economy Impact On Practiceswww.AvailDentalAdvice.comTHE DENTAL DESK MAGAZINE  | 4

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Over the last several months we’ve been receiving some questions from the dentalcommunity. Our experience in brokering and appraising hundreds and hundreds ofpractices has made us a natural place for professionals to turn with theirquestions. We realized that several people had the same questions and so wethought this might make a great forum for people to ask their questionsanonymously and receive their answers. Therefore, ‘Ask the Expert’ was created.Please feel free to send us an email with your questions toDarren@AvailDentalAdvice.com.Question: I’m looking for a clinic in the Edmonton (andsurrounding)area. Do you have any active listings in that area andhow do I get notified about upcoming listings?Answer: We currently have 7 listings in the Edmonton area, so yourtiming is perfect! The best way to get notified about current andupcoming listings is to register on our buyers list. To register, visitour website www.availdentaladvice.com and go to our listings page.The buyer registration page is listed there. We can also arrange aphone call where I can learn about the specifics of what you arelooking for. I look forward to talking with you!Question: Do you offer any negotiating assistance if I amentertaining a corporate offer?Answer: There are many ways that I can assist you whenentertaining a corporate offer. We offer a corporate representationpackage where we will represent you and negotiate on your behalf inall aspects of the sale. I’m also happy to review offers and provideadvice on next steps. We can work together to create an assistancelevel that best suits you and your needs.CANDID COMMENTARY ON PRACTICE VALUATIONASK THE EXPERTNeed some personalized,confidential advice?Book A Call With Darren.Book A Call With Darren.We can help.We can help.CallWithAVAIL.comCallWithAVAIL.com

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Question: How does the overall economy affect the value of my practice? Answer: Practices have many forces that play for them and against them. Economy is abig one! This can prop up a poor practice with good potential or take a good practicedown in value if the external factors of the region make it less than attractive. Oneexample of that is when the downtown economies suffer - downtown practices suffer.If the economy is bringing lots of jobs and housing to a new area it will obviously createmore demand for your services. So as an owner you have to be aware that whether youare starting up, in your mid career, or selling, this can affect you practice greatly.THE DENTAL DESK MAGAZINE  | 6ASK THE EXPERT CON'T:Question: Why are you a major sponsor and producer of The Health and WellnessWinter Escape for Dental Professionals? Is this out of your wheelhouse?Answer: Great question. The reason that Avail sponsors and produces this event isbecause we (our team) are passionate about the pursuit of mental wellness and wewant to provide support and tools for the dental industry in this regard. This event is notoutside of my wheelhouse. My wife and business partner, Yvette, is an experiencedevent planner. Yvette has always had a dream of curating a wellness event for dentalprofessionals. When Yvette was diagnosed with lymphoma in 2019, this dream becamean obsession/ passion project. During the pandemic when Yvette received her remissionnotice, she began doggedly pursuing her passion project and this dream became areality in February 2023. The event was a huge success with attendees raving abouttheir experience. Yvette continues to be the driving force behind this growing Health andWellness Winter Escape for Dental Professionals. I hope we’ll see you in Palm Springs in2024.

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G A M B L I N G Y O U R C L I N I C ’ S V A L U E :O V E R / U N D E R I S A G R E A T G A M E I NC A S I N O S N O T D E N T I S T R YBY YVETT E SHANAHANYou’re probably familiar with the casino game over/under. Over/Under bets, also called total bets, are a wager onwhether a statistic from a game will be higher or lower than a quoted value. Definitely a fun way to add anotherdimension to sporting events, but not a wager one would make when determining the value of a clinic.Recently, there is a fair amount of chatter about the way clinics are valued. Some may suggest that certain figures inthe industry are under-valuing clinics, while others claim that certain figures routinely over-value clinics. Now, youmight be thinking ‘I can see the problem with under-valuing, but what’s the problem with over-valuing’? The problem with either of these scenarios is inaccuracy and the expectation it sets up for you, the potential seller. Let’s talk about under-values first. The obvious problem with an undervalued clinic is the potential to lose out onmoney. The potential benefit could be making a quick sale - which is only a benefit if you need to sell quickly and areless concerned about a full financial benefit. However, in today’s marketplace, an under-valued clinic will likely garnergreat interest and multiple competing offers which on the surface sounds great, but just imagine an accuratelyappraised value. An accurate appraisal can garner the same interest and competing offers, all the while ensuring you -the seller - don’t miss out on any financial benefits and the potential buyer who may need financing has a supportedand accepted document.Now let’s discuss over-valued clinics. You might be wondering why an over-valued clinic is a bad thing, especiallyconsidering we just mentioned competing offers. There are several issues with over-valued clinics. One such issue isthat over-valued clinics are often not financeable. Financial Institutions and risk managers struggle to make a case tofinance an overvalued clinic. This immediately reduces the pool of potential buyers. Those who can come to the dealwith cash may be hesitant to submit an offer, as their advisors will quickly realize that the clinic has been overvalued.Now there is always the chance that DSO’s may submit offers on overvalued clinics however once they have done theirdue diligence (in most cases) even that corporate offer will not reflect the over-valued price. THE DENTAL DESK MAGAZINE  | 7

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Additionally, you the seller, now have an expectation that your clinic will garner a higher financial reward then issupportable (through financing or due diligence). This leaves you, the seller, feeling like you ‘lost’ money on a deal -when in reality, that money never existed.Over-valued clinics also, generally speaking, sit on the market much longer which can create a stigma and lead toreduced pricing over time. Reduced pricing can generate many questions about the accuracy of the valuation andmay impact the relationship between the seller and buyer. It can also lead to deals dragging out and falling apartand beginning the process again, which is highly frustrating for all parties involved.The only potential upside to an over-value is that someone out there may really need/want the clinic and wouldtherefore just pay the price without truly vetting the valuation. However, I can assure you that this is rarely ever thecase.It is incumbent on you, the seller, to truly understand if your valuation is accurate. Rely on your advisors to explainhow financeable the valuation is, what kind of structure you need in a deal and does this valuation support yoursale structure and financial needs. And remember that the big number you see, although exciting, may result indisappointment and frustration for you the seller.Leave the over/under game to the casinos and engage the services of a trusted broker to ensure you receive anaccurate valuation for your clinic. At Avail, we pride ourselves on providing fair and accurate valuations and we areproud to say that all of our valuations are accepted by all major financial institutions. Call us today for a valuationyou can trust.GAMBLING YOUR CLINIC’S VALUE CONTINUEDIf you'd like to discuss your practice, give us a confidential call!1-866-Go-Avail (1-866-462-8245)

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Reserve Your Tickets Now!Reserve Your Tickets Now!ORHEALTH AND WELLNESS WINTER ESCAPE FOR THE DENTALPROFESSIONAL’S MIND, BODY AND PRACTICE

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M E N T A L D E N T A L B U R N O U T :T H E G R O W I N G R A T E & S T I G M A BY YVETT E SHANAHANHold onto your hats! We’re bolting out of the gate in this article with some shocking stats:It is estimated that 84% of Dental Professionals in North America have reported feeling symptoms of burn-out at somepoint in their career.If that stat isn’t shocking enough, consider this; it is estimated that 1 in 6 dental professionals, in North America, arecurrently experiencing symptoms of burnout. This means that literally each and every one of us know someone who isstruggling with the symptoms of burn out - and maybe we, ourselves, are struggling too.If burn-out is becoming so common it begs a few questions. What is burn-out and how do I know if I’m experiencingsymptoms? If it is so common why is everyone so afraid to talk about it? Why is burn-out a growing problem in thedental industry? What can I do to prevent or counter the feelings of burn-out? Let’s dig into these questions.What is burn-out and how do I know if I’m experiencing symptoms? The Mayo clinic defines burn-out as ‘a state ofcomplete mental, physical, and emotional exhaustion’ which can lead to ‘a sense of reduced accomplishment and lossof personal identity.’ Symptoms include:- Energy Depletion- Increased Cynicism- Difficulty Concentrating- Declining Work Performance- Feeling disengaged- Physical Symptoms such as headaches, skin issues, gut and bowel health, change in sleeping habits, irritability, and lethargy.If burn-out is so common why is everyone so afraid to talk about it? Even though great strides have been made inreducing the stigma around mental health struggles, the reality is that many people are still reluctant to share theirstruggles out of fear that they will be ridiculed or penalized over this ‘perceived disability.’

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It becomes increasingly difficult to share feelings of low self worth when the little voice inside your head keepstelling you that you aren’t worthy of acceptance and assistance.Why is burn-out a growing problem in the dental industry? This is a complex question and there are manytheories as to why the dental industry is experiencing such high levels of burn-out. Although completelygeneralizing here, the dental industry tends to attract very empathetic professionals - ‘the helpers.’ It is believedthat empathetic people, in general, experience burn-out at high rates. Compounding this are dental industry traitssuch as over-productivity and perfectionism. Additionally, a post-pandemic world is finding clinics chronicallyover-worked and under-staffed while currents of fear (about the virus, the economy, work-life balance etc)radiate through staff and patients alike. Adding yet another complexity is the possibility that you or someoneyou work with is struggling with a toxic or abusive relationship at home or at work.What can I do to prevent or counter the feelings of burn-out? As with most things, prevention is the very bestmedicine - and the best prevention is being intentional about your wellness. What does that mean? It meansinvesting in your physical, mental and emotional health. Prioritize self-care, learn breathing techniques, trymeditation, exercise, walk, eat well, laugh, practice your hobbies, learn, volunteer, talk to someone you trust andcommit to taking care of yourself in the same way that you care for your loved ones and patients.The bottom line is that you are not a super-hero. However, investing in yourself, in your mental, emotional andphysical well being will get you a lot closer to being the super-hero you wish you were. Consider attending the CEHealth and Wellness Winter Escape for a restorative experience that will provide you the tools to prevent andcombat chronic stress, burn-out and other mental health issues. YOU. ARE. WORTH. IT.MENTAL DENTAL BURNOUT CONTINUEDTHE DENTAL DESK MAGAZINE  | 11www.AvailDentalAdvice.comReserve Your Tickets Now!OR

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F O S T E R I N G V I T A L R E L A T I O N S H I P S W I T H I N Y O U R T E A MBY MORGAN SYLVAIN, SMILE AND COMPANY.In the dynamic landscape of modern workplaces, fostering relationships within your team has emerged as a criticalfactor for success. Beyond individual skills and talents, the collaborative synergy generated by strong teamrelationships can propel a group toward achieving its goals. Here, we delve into the profound significance of theseconnections and explore strategies for nurturing them. 1. Enhanced Communication: Effective communication forms the bedrock of any successful team. When team members know and trust each other,they are more likely to communicate openly and honestly. This transparency can lead to smoother workflows, fewermisunderstandings, and quicker problem-solving. Moreover, robust team relationships encourage active listening,ensuring that everyone's ideas and concerns are heard and valued. 2. Building Trust: Trust is the linchpin of strong teams. Trusting colleagues are more likely to collaborate and share responsibilities.When team members believe in each other's competence and reliability, they can work cohesively and with lessoversight. This trust extends beyond professional tasks, fostering a sense of psychological safety that encouragesinnovative thinking and risk-taking. 3. Conflict Resolution: In any collaborative endeavor, conflicts are bound to arise. However, teams with solid relationships are betterequipped to manage and resolve these conflicts constructively. Instead of devolving into unproductive disputes, teammembers can navigate disagreements with empathy, seeking common ground and win-win solutions. 4. Boosting Morale and Motivation: Strong team bonds can significantly impact morale and motivation. When employees feel connected and valued withintheir team, they are more likely to take pride in their work. The sense of belonging and shared purpose bolsters theircommitment to achieving collective goals. THE DENTAL DESK MAGAZINE  | 12

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5. Increased Innovation: Diverse teams are often more innovative, but the key to unlocking this potential lies in the strength of their relationships.When individuals from different backgrounds, experiences, and perspectives collaborate harmoniously, they can generatemore creative ideas and solutions. Respectful relationships encourage the sharing of diverse viewpoints, leading togroundbreaking innovations. 6. Adaptability and Resilience: In today's rapidly changing business landscape, adaptability is a prized quality. Teams with strong relationships tend tobe more adaptable and resilient in the face of challenges. The trust and support within the team provide a safety net thatenables members to take calculated risks and explore new strategies without fear of retribution. 7. Improved Productivity: Ultimately, fostering relationships within your team can lead to improved productivity. When people enjoy workingtogether, they are more likely to collaborate willingly, share knowledge, and support each other's efforts. Thiscollaborative spirit often results in more efficient processes and higher-quality outcomes. FOSTERING RELATIONSHIPS CONTINUEDStrategies for Fostering Team Relationships: Team-Building Activities: Organize team-buildingactivities that encourage interaction and collaborationoutside of work tasks.Open Communication: Promote open and honestcommunication within the team, emphasizing theimportance of active listening. Recognition and Appreciation: Acknowledge andappreciate each team member's contributions regularly.Diversity and Inclusion: Foster an inclusive environmentthat values diversity, ensuring that all team members feelrespected and heard. Conflict Resolution Training: Provide training in conflictresolution and problem-solving techniques to help teamsaddress challenges constructively. Professional Development: Support team members'professional growth, helping them acquire new skills andexpertise. Regular Feedback: Establish a culture of feedback,encouraging team members to provide and receiveconstructive feedback. In conclusion, fostering relationships within your team is not a soft skill; it's a strategic imperative. Strong teamrelationships lead to enhanced communication, trust, innovation, and productivity. Investing time and effort intonurturing these connections can pay dividends, making your team more resilient, adaptable, and ultimately, moresuccessful. Remember, the bonds you build within your team can become the driving force behind yourcollective achievements. THE DENTAL DESK MAGAZINE  | 13

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EDMONTON (CENTRAL)Asking Price $1,150,000Start-up unit, fully operational(Vendor financing available @3.95%)DESCRIPTION OF THE PRACTICE AND DETAILSOperatories: • There are currently 6 operatories/chairs (plumbed for 2 more)• The clinic is very spacious and is separated well into working areas.• The clinic is in NEW condition.• Staff room, lab and doctor’s office areas are present.• A large doctor's office is also present.Type: • General Practice or Specialty• Highend Leaseholds and Equipment• Not a working practice currently• Digital equipmentLocation: • Edmonton Whyte Ave (Central)• Retail 3rd floorPremises: • Term - Open to negotiation• Renewal option - Open to negotiation• Base Lease rates - Negotiable• Leased area - 2900 sq ft• Bonus - 10 free months of rent, the months of your choosingFinancing: Vendor financing available @3.95%FEATURED LISTING

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Formalize to Enhance Dental Practice ValueBy: Sam Khajeei, BA, JDFounder & CEO of SK LegalThere are a number of important steps that a dentist/business owner should contemplate when gearing up to sella practice. One of these steps is the legal formalization of the dental practice structure and operations.Formalization, for example, includes ensuring: (1) that the minute book of the dental practice is up-to-date andaccurately reflects all past and pending material corporate transactions in accordance with the provisions ofapplicable corporate legislation in your jurisdiction; (2) that appropriate third-party written contracts are in placein respect of those arrangements which are critical to the ongoing success of the dental practice (i.e., yourassociate dentist agreements); and (3) that certain “loose-ends” of the dental practice (i.e., threatened or ongoinglitigation or employment standard grievances) have been addressed. In the competitive landscape of dentalpractice ownership, operation and sale, formalization stands as a cornerstone to ensuring maximized value and aseamless transition of ownership. Formalization is critical irrespective of whether the ultimate purchase is structured as an asset purchasetransaction or a share purchase transaction. In my experience practicing law over the past decade, if a potentialbuyer encounters perceived risk, this perception of risk translates into lower confidence, decreased trust andincreased hesitation towards closing. Risk justifies closing delays, reduced purchase price offers, the inclusion ofunfavourable contractual terms such as a holdback or, in the worst of cases, having your potential buyer walk-away from the transaction as a whole. By embracing formalization, you not only protect your interests in theinterim but also elevate the perceived value of your practice, making it an attractive proposition for discerningbuyers who seek stability and reliability in their investments.As one example, formalization of your dental practice’s business contracts, either by putting oral agreements intowriting or overhauling written contracts to ensure they include the appropriate clauses, will reduce risk to anincoming buyer and thereby maximize the value of your business because: (1) well-documented written contractsprovide clarity and transparency to the incoming buyer; (2) detailed and exhaustive contracts properly allocaterights, obligations, and expectations as between the relevant parties; and (3) formal written contracts includelegal safeguards that protect the interests of all parties in the event of a dispute or disagreement. These are the contracts that the potential buyer willinherit on the closing of the transaction. These arealso the assets that will be evaluated by that potentialbuyer when determining the purchase price.Ultimately, formalizing your dental practice's structureand operations is not just a legal obligation; it is astrategic investment in the future of your business. Itempowers you to negotiate from a position ofstrength, presenting your practice as a well-organized,low-risk opportunity for potential buyers. In the ever-evolving landscape of dental healthcare, whereprecision and attention to detail are paramount,formalization emerges as your greatest ally. It ensuresthat your legacy is passed on seamlessly, allowing thenext generation of dental professionals to build uponthe strong foundation you have meticulously crafted.So, as you embark on the journey of selling yourpractice, remember, formalization is not just a legalprocess; it is the key to maximizing the true worth ofyour dental enterprise.

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always played into the multipleequation as well.The thing about competition andmultiples is that, in many scenarios,the DSO factor meant manydentists believed they simply couldnot compete with those DSO offers.Again, this is very complex butwhen you really get into the minutiaof this, there are many creativeways that dentists could and cancompete with DSO offers. But Idigress. The ‘recession’ and higher interestrates may have DSO’s behavingcautiously but it has opened up themarket place for dentist owners.Yes - the interest rates are higherand it costs more to finance apurchase but there is still greatopportunities to purchase withoutartificial inflationary multiplesbeing a barrier. And, as anotherglimmer of hope on the horizon, asthe economy shrinks the likelihoodof interest rate decreases becomea very real possibility (likely in the2nd quarter of 2024).A N U N O F F I C I A L R E C E S S I O N I N T H E D E N T A L W O R L D :I T ’ S T H E M O S T W O N D E R F U L T I M E O F T H E Y E A R ? BY DARREN SHANA HANAs the holiday season rapidlyapproaches we are reminded thatthis is a season of benevolence,hope, peace, love and light. It’s alsoa time when stress seems toincrease, time demands increase,and it feels we’re all racing againstsome sort of time clock! Add tothis, the challenges of higherinterest rates, inflation issues,staffing issues etc etc and it all canfeel very overwhelming.Then comes the announcement -‘We’ve narrowly escaped arecession, for now.’ But have we?Let’s be honest, the country maynot have hit all of the official keyindicators to label a recession but itvery clear that this country isindeed in a recession. How long willit last and how bad will the effectsbe remains to be seen.We’re already seeing patient visitsslow down as everyone tightens thepurse strings and tries to savemoney. I think this, in particular, willbe a temporary issue as renewed benefit packages in the new yearwill see a resurgence of patientsinto clinics. However, recalls andefforts to reactivate inactivepatients would be well worth thetime invested to help counter theslower patient rates. So, where else might we feel theeffects of a recession?For a long time it was widely feltthat dental clinics were recessionproof, and for the most part, thistends to be true. The differencewith this “recession” is the positionof DSO’s. Previous recessions sawa surge in DSO activity howevermany DSO’s (large and small) aretreading very cautiously in themarketplace while interest ratesremain high. This means that thecompetition for purchasingpractices changes, which effectsmultiples. Now multiples and ‘ghostmoney’, claw backs and associatecontracts (and so much more) arecomplex issues which would takemany many articles to fully explore,but these factors obviously have

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For sellers, this may leave you feeling like you’re somehow missing out on a big pay day. The reality isthat many factors play into that ‘pay day’ and when you sell your clinic, the negotiations and agreementswill ideally leave, both, seller and purchaser feeling like they have got the best deal for them.Additionally the ‘recession’ may rear it’s head into an already challenging staffing space. Owners mayhave to think creatively when considering compensation to both keep and attract staff. Potentialemployees in a recession may need even more than it seems they are requiring now, however thecontracting economy may also encourage potential employees to ‘take what they can get’ in the shortterm. The bottom line on this is to consider how your work culture, philosophy and productivity cancome together to create attractive and fair compensation packages to attract long term team members.So a ‘recession’ does not mean it’s all doom and gloom. It might be a bumpy ride but during this ‘mostwonderful time of the year’ I hope you’ll find reasons to hope and ways to find success as our economyworks to find a new growth pattern. Call me for some ‘recession’ strategies to guide you through thistime.AN UNOFFICIAL RECESSION IN THE DENTAL WORLDCONTINUEDReserve Your Tickets Now:ORJoin Us In Palm Springs Feb. 20-24th, 2024For Travel CE!THE DENTAL DESK MAGAZINE  | 18

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Darren Shanahan,Darren Shanahan,CEO & FounderCEO & FounderCorinne MarkCorinne MarkLéoLéo MorrisonMorrisonAngiAngiMcGarryMcGarryMEET THE TEAM AT AVAIL:Western Canada's Leading Dental BrokerJessie McCrackenAndrewJonesSaraSaraTrennTrennComing Soon!Coming Soon!LoriLori WilliamWilliam National Ortho RepNational Ortho Rep1-866-Go-Avail (1-866-462-8245) AvailDentalAdvice.com

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H O W P A T I E N T S M A K E B U Y I N G D E C I S I O N S :T H E C A B O S A N L U C A S S A L E S E X P E R I E N C EBY LORI WILLIAMWe took a quick trip to Cabo San Lucas Mexico for a few days in November. I feel obligated to share astory regarding a ‘Sales Experience’ while at the Los Cabos Marina.We took a cooking class where we had a lot of fun learning how to make seafood paella in a privateMexican home. After our cooking class we took a stroll along the marina to investigate where we wouldlike to experience dinner for the evening. As we passed each establishment, we were greeted by their bestsalesperson; typically a confident well-spoken mature man who you who could tell had worked that stripof boardwalk for years. Every restaurant offered basically the same thing: a small beef filet, lobster tail,two jumbo prawns and a free tequila drink for ~$40USD.When the probable diner perceives every option as virtually the same, what drives the ultimate buyingdecision? Every salesperson had their own ‘value statement’ they felt would be best suited for their targetaudience.We ultimately made our buying decision based on being sold by a restaurant owner offering the meal tobe free if we were not perfectly satisfied. The power of margin on wine … LOL. We selected a table with aview of the sales show. Lots of interesting discussions, admittedly lots of rejection, but never a waveringof enthusiasm or willingness to do what it takes to fill every table.ContinuedTHE DENTAL DESK MAGAZINE  | 20

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H O W P A T I E N T S M A K E B U Y I N G D E C I S I O N S C O N T I N U E DIn the dental profession, we need to treat our patients the same way, less of the in-your-face salespressure as the professionals on the Cabos marina boardwalk. Allow your patients to make buying decisions based on their criteria and on their own timeline.Allow personal word-of-mouth advertising to work for you. Patient referrals will trump every valuestatement. Leverage posting your testimonies on social media, and in digital marketing campaigns.Be persistent but always balance being respectful. Complete your follow-up regularly and in a timelymanner so your leads don’t expire. Christmas is when everyone likes to say thank you.Don’t forget to thank your patients in a meaningful way, especially those who thank you with a testimony.And when you get a testimony, get them posted and get your team working for you to help build yourbusiness for 2024. When you believe you can help your patients, then asking for a referral is the rightthing to do. You need to do this. Patients still don’t know they can refer patients to your practice andexperience how awesome you are! With 2024 only days away, it’s time to set your goals and ensure your team is working hard to build yourpractice to help you grow. Here are some areas you can focus on:·Is your new patient experience top-notch so they come back even if they explore other options?·Is your new patient phone script providing value, giving service, and so friendly those patients are soldbefore they even enter your practice? ·Is your front desk being an advocate to build your practice and ensuring the patients that are callingimmediately notice the difference from the other offices?Strategix has some exciting new programs available for some admin training, phone training, and newpatient training to maximize these opportunities for 2024.Lastly, in the spirit of the holiday season, from our team to yours, we wish you all the best in 2024 andthank you for your continued support and business. THE DENTAL DESK MAGAZINE  | 21

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LAUGHTER IS THE BEST MEDICINE!

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WCDS 54TH ANNUAL MEETING, CURLING BONSPIEL & GOLFVisit wcdsmeeting.org for more info and updates.Why attend the WCDS?The meeting combines CE, a curling bonspiel and now golf with a strong dose of fun and fellowship! We are not professional golfers or curlers, but we do enjoy engaging in some fun, friendly competition while raising funds for a good cause.For more information, please direct any inquiries to Dr. Dave McLeod at dmmdmd@shaw.ca or call 403-619-1839.What is the WCDS?Founded over 100 years ago, the WCDS is a society of dentists and dental industry professionals from across Western Canada and beyond. In 1969, the annual continuing education meeting was combined with a curling bonspiel. Golf has now been added to our event lineup. Each year, the event is held in a dierent Western Canadian city. Work of the WCDS?The primary function of the WCDS is to support dental education by funding several endowments and scholarships at all four Western Canadian Dental Schools. Each academic year, through the eorts of the WCDS, more than $30,000 in scholarships, bursaries and awards are available for Western Canadian Dental Students. Funding for the awards is raised through our Annual Meeting. More information regarding our organization can be found at September 25-28, 2024 | Saskatoon, SaskatchewanREGISTRATION WILL OPEN MARCH 15TH, 2024.Scholarships and Endowments funded by the WCDSAll Four UniversitiesDr. Cal Waddell Memorial Scholarship ($1,500/university) WCDS Student Fellowship Award ($1,500/university) University of ManitobaWCDS Graduate Student Scholarship ($1,000)Dr. John Clay Medal & Prize ($1,000)Dr. John Clay Scholarship (~$6,500)University of Saskatchewan WCDS Bursary ($1,000)Dr. Walter Hancock Scholarship ($1,200)University of Alberta WCDS Research Award ($1,000)MH Garvin Scholarship (~$5,700)University of British Columbia WCDS Leadership Scholarship ($1,000)WCDS Scholarship ($1,000)wcdentalsociety.org.

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YOUR TRUSTED INDUSTRY PARTNERDid you know that for over 2 decades, our Founder, Darren Shanahan, hasbeen in the dental industry as the "go-to" for other industry professionalsand leaders? Every phone call that comes into our office is about a dental or healthcareclinic. We don't work in any other industry.We provide owners with a "firewall" to protect them from all of the pitfallswe know are out there throughout a transaction because we know how toprepare the deal and navigate the waters. We're here for you.Meet Our TeamDarren ShanahanCEO & FounderYvette ShanahanCo-FounderLogan ReynoldsTransaction SpecialistJennifer LarocqueTransaction ManagerMorgan MinkusTransaction SpecialistQuestions?Call 1-866-Go-Avail (1-866-462-8245) orvisit: AvailDentalAdvice.com

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THE DENTAL DESK MAGAZINEB Y A V A I L D E N T A L E X I T A D V I S O R Y S E R V I C E SThe Dental Desk Magazine runs on a monthly basis to keepstakeholders in the dental industry in the loop.Avail Dental Exit Advisory ServicesProudly Serving Western Canada (Alberta,B.C. & Saskatchewan)1-866-Go-Avail (1-866-462-8245)www.AvailDentalAdvice.comJanuary 2024 Come back for Issue #17 which will reveal industryinsights, predictions and trends for 2024.