Ask George: Associate Compensation - Everything You Need To Know

Richard and Caitlin tackle one of the biggest challenges dental practices face—retention. They talk about how practices often feel they're doing well in this area, only to discover a huge gap between perception and reality. Richard shares a story of a doctor completely overwhelmed by rapid growth, losing patients out the backdoor as quickly as they came in. Caitlin answers with the importance of tracking key metrics, like hygiene and new patient reappointment rates, and how a lack of urgency can sabotage long-term success.

Dr. Richard Low and I talk about evaluating associateship opportunities--the importance of networking, understanding practice dynamics, and making informed decisions based on personal and professional goals. I also share my own recent experience navigating the job market,.  Shared Practices Buyer Representation 👈

I sit down with the inspiring Dr. Colleen Bullard and her coach Danielle, while she shares her incredible success story. With her trademark modesty, Dr. Bullard reveals how she increased her practice's production by $20K a month—40% growth. What did our coaching have to do with it? Did Dr. Bullard do it all herself? Can anyone just up and almost double their production in under 6 months? Listen in.

My father, Murray Low, is a world-renowned coach to executives. I'm having him on the show today for this special episode talking about how self-doubt can be transformed into a powerful tool for growth. We get into the delicate balance between projecting confidence and showing vulnerability, sharing straight from our own experience, and the critical element in all of it: decisiveness. 

Merlin here. I have our very own Dr. Richard Low back on the show. He's asking me some pointed questions about my transition from dental school SF to practicing dentistry in Charlotte, North Carolina. We're talking about the excitement of moving across the country, my clinical preparedness, and how much experience I want before owning a practice. I also talk about my proactive approach to finding the right practice, including sending mailers and building professional relationships, and my flexible timeline for achieving ownership. Here's what we talk about: 00:00 - Introduction and Merlin's Transition 00:00:50 - Missing San Francisco 00:01:45 - Dental School Experience and Preparedness 00:03:30 - Goals and Next Steps Post-Graduation 00:07:15 - Decision to Delay Ownership 00:11:50 - Open-Minded Approach to Career 00:15:45 - Response to Mailers and Networking 00:21:20 - Evaluating Practice Opportunities 00:25:30 - Building Relationships and Professional Growth 00:31:45 - Final Thoughts and Advice for New Graduates

I'm sharing how I learned to navigate seasonal slow downs in practices.  Shared Practices Coach Danielle Kramer and I talk about the common issue of slow patient flow in September and October (AKA Sucktember). Danielle talks about using this downtime for crucial office tasks like inventory management and team training.   Danielle and I talk about: 00:00:00 - Introduction and Danielle's Unique Recording Setup 00:00:40 - Understanding the September Slowdown 00:01:31 - Danielle's Insights on Seasonal Slowdowns 00:02:26 - Richard's Personal Experience with Seasonal Dips 00:05:19 - Proactive Strategies for Retention and Reactivation 00:09:58 - Importance of Marketing Ahead of Slow Seasons 00:13:21 - Balancing Time Off and Office Productivity 00:18:39 - Creating Effective SOPs and Training Protocols 00:24:30 - Organizing Inventory and Office Maintenance 00:28:50 - Wrapping Up: Collaborative Planning for Success

Richard and George talk about the critical legal needs every dentist faces. Everywhere from acquiring a practice to exiting (and even what we learned forming a DSO). Joined by Hunter Altvater, the lead attorney at Shared Practices, they talk about the importance of clear legal documents, understanding the intricacies of associate agreements, and the value of fixed fee legal services. 

Dr. Scott Smith shares his journey from associate to successful practice owner. Our original episode with Dr. Smith aired February 8, 2012. It was Season 6 episode 26. In this follow-up two-parter, Dr. Smith shares his insights on rural dentistry, maximizing profitability, and balancing work with personal life. Learn about the challenges of staffing, managing multiple practices, and the importance of strategic financial planning.  Dr. Scott Smith: 801-529-6121

Richard asks George about associate compensation and equity. They talk about different compensation models, managing expectations, and--this part is important--the entrepreneurial spectrum of associates. They cover how market conditions and practice size influence strategies, the importance of guaranteed compensation, retention strategies, and finally, the reality of ultimately replacing associates.  Leave a note for Richard to ask George something: [email protected]

Caitlin and Richard talk about evaluating and improving leadership skills. Today we're emphasizing self-reflection, personal development, and nurturing future leaders. We'll hit on practical strategies like using checklists, encouraging team feedback, and managing team dynamics.