Dental Acquisition: Purchase & Sale Agreement with Rob Montgomery

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In a lot of ways, a purchase and sales agreement is similar to dating; as you’re going through the process, you’re looking through everything with due diligence and trying to ensure that you’ve found a good match and that you’re set up for a happy future! That may seem like a very technical breakdown, but this is what Rob Montgomery, lawyer and founder of Robert H. Montgomery, III, Esquire P.C. thinks—and he has several tips and tricks that can help you out when it comes to breaking down the specifics of these agreements and setting things up for success. Continue reading below to learn a few of his secrets to winning purchase agreements, or feel free to check out his recent appearance on the latest episode of Dental Acquisition Unscripted.

Get Your Lawyer Involved

It goes without saying that your lawyer is a valuable asset and close ally when it comes to drafting up all of the paperwork and sifting through the fine details of this process. It’s worth noting that this protects both the seller of the practice as well as the buyer; believe it or not, both parties need a lot of security. Not to mention, your lawyer has the experience and expertise necessary to circumnavigate these documents and ensure that you’re comfortable, as well as getting your money’s worth for their services. While it’s important for clients to always “have their head in the game” and remain focused and involved, according to Rob, it’s more efficient to let your expert work their magic, handle the documents and road mapping, and get the ball rolling.

Clear Communication Is Key

While it’s valuable for clients to stay diligent and engaged, it’s important to be mindful of how this involvement is channeled into communication lanes. Sending those one-sentence emails, open-ended questions, or long-winded narratives might not always be in your best interest when it comes to getting things done quickly and effectively. It’s all about finding that “happy medium” according to Rob, when it comes to involvement and communication. And if this involves a good old-fashioned scheduled phone call, that’s perfectly okay if you have a lot of things on the docket.

Don’t Neglect the Details & Stay Driven

When you become a practice owner, you can’t just be a dentist or just a businessperson—both of these components are equally important. With that in mind, there are going to be a lot of things to take into consideration, both by you and those you’ve surrounded yourself with to assist you. The nature of this business is the transition, and it’s a “business of goodwill and patience” among other things, according to Rob. By doing what you can to ensure everything crucial on your end is squared away, and by staying driven throughout the potential ups and downs of the process, at the end of the day, the deal will get done.

Rob and host Mike Dinsio go more in-depth about these subjects and more while discussing some of the experiences they’ve encountered in their respective careers, so be sure to check out the latest episode of the podcast if you’re curious to hear more!

About Next Level Consultants

Here at Next Level Consultants, we’re thrilled to provide you with the means to successfully buy, manage, and bolster your new dental practice. Under the leadership of Mike Dinsio and Paula Quinn, our knowledgeable team is ready to step in and assist you with everything you’ll need to know and execute in order to thrive! To learn more about what we can do for you and your practice, don’t hesitate to get in touch with us today.