Step 3: Optimize your practice value As Stephen Covey, t he aut hor of " The 7 Habits of Highly Effective People " once said, " If your ladder is not leaning against the right wall, every step you take gets you to the wrong place faster. " The top 5% of dentists lean their business against the wall of value. Savvy dentists optimize their value by preparing for transition at least eight years before the event. You can certainly sell your practice in one or two years; however, you may miss out on key opportunities to shift from renter to landlord, bring in associates to maximize your facility, expand your service mix to optimize health of patients, and reduce PPO impact to improve profits and the health of your business. Each of these goals has a strategy and takes time to implement. They're all part of seller readiness and practice optimization. Building an investment-grade practice is easier than you think! It's a matter of focusing on the end game first and building a critical path toward your goals. Shifting your thinking from year-over-year growth into optimizing toward financial freedom makes all the difference in the world. n References 1. 2. https://www.dentistryiq.com/practice-management/financial/ article/16360890/would-you-choose-96-or-4-for-your-retirement-from-dental-practice https://www.ada.org/resources/research/health-policy-institute/dental-practice-research/how-big-are-dental-service-organizations FREE FACTS, circle 12 on card dentaltown.com \\ APRIL 2022 59https://www.dentistryiq.com/practice-management/financial/ https://www.ada.org/resources/research/health-policy-insti http://productivedentist.com/workshop http://www.dentaltown.com