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Services/Accountant

Dental Practice Transition: What Are Your Options?

Posted by Allan Mendoza on
Dental Practice Transition: What Are Your Options?

Dental Offices Red Deer, Dentist Office Red Deer

Successful dental transitioning involves several different aspects. One of the most important decisions to make during the process is the structure of the transition. Do you want to have an internal or external transition? Or would you prefer to still have a say in the business after selling? Or do you want a complete sale with no other strings attached? There are numerous ways to structure the transition, depending on the seller’s preference and potential buyers. In this article, we’ll be telling you more about what internal and external transitioning means. Let’s get right into it.

Internal Transition

As its name suggests, this type of transition involves handing the practice over to someone already working in the business. Generally, internal shifts involve selling a part of the practice’s equity to a younger associate or partner. This younger associate usually gets the bulk part of the equity value and gradually becomes the main man in charge of the business. The seller can decide to gradually reduce their presence in the business by becoming a part-time worker or just retire altogether.

There are some advantages to internal transition. Firstly, it makes sure that the person taking over the practice is competent enough to keep it running. Usually, with internal transitioning, the younger dental associate initially enters into the business to eventually take over when it is right. As such, all contract negotiations, valuations, and other transitioning details are concluded when the associate initially enters the practice. It’d be best to consult professionals like a legal rep and a dental CPA San Diego to handle details of the deal, including how long before the complete takeover happens, the practice’s value, and other contractual negotiations.

External Transition

If an internal transition isn’t desirable, you can look towards trying an external change for your dental practice. This transitioning process involves selling the practice to a dentist outside your practice or other individuals. Selling a dental practice to a more prominent dental company, a group of companies, or merging it with a healthcare brand is also classified as external transitioning. With this selling option, you have to put in a lot of work to ensure that your practice is desirable to potential buyers. Work with your dental CPA San Diego to ensure that the books are balanced, and revenue is coming into the business. Working with a CPA helps increase the value of the practice to potential buyers.

With external transitioning, you’ll not need to worry about showing the buyer the business’s ropes. Most external buyers already have plans to keep the dental practice running after the change in ownership.

Final Thoughts

One thing is sure in every transitioning process; sellers need to have good plans to get the best value for themselves. And this is only possible when they have a team of seasoned professionals advising them on maximizing the operational, legal, and financial aspects of the transition in their favor. So whenever you decide to sell your practice, ensure you find an excellent legal counsel and dental CPA in San Diego for the best financial advice.

Services/Digital Marketing/SEO

Best Digital Marketing Tips for Small Businesses in 2020

Posted by Allan Mendoza on
Best Digital Marketing Tips for Small Businesses in 2020

Amidst the Covid-19 situation, different businesses have been affected in some or the other way. Some small scale businesses are finding a lot of opportunities that can make them stay in the market COVID-19 pandemic. According to statistics, different businesses have realized the importance of investing in digital marketing to make their business grow as the market begins to open up. Digital marketing is a great strategy to make your brand big, but you need to follow some strategies to make it more impactful.

An Array of Digital Marketing tips to make your brand famous

A Strong Social media presence

  • With a huge advancement in the technologies, the face to face communication is very limited now. Startups and small scale businesses should leverage the power of social media to reach a larger number of audiences. Social media presence is an essential strategy in every digital marketing project.
  • Different business owners should make use of social media regardless of their businesses. Most millennial people have begun to leverage the power of social media but many old businesses are still not considering using social media for their businesses.  Digital Marketing Companies in India do suggest every brand to make use of Social media. 

You should always stay connected to the customers using email marketing.

  • Many users do consider email marketing to be old fashioned, but still, many brands are using email marketing for connection to their clients. It has been found that most of the brands still use the email market for customer retention. Email Marketing has a huge impact on the brands since it is the key digital marketing strategy. 
  • With an email, you can inform them about your new launches, offers, and send newsletters. 

Do Market your website and different pages

  • If you own a website and do not have an online presence then it is not of any use. Hence it is essential for you to use different strategies to make your website visible on the web, so the audience can visit your website and gain information. A Website for business has become an important component to increase the digital presence.
  • Many brands are making use of content marketing and blogs for their websites to offer some insightful information to all visitors.

Make use of in-house Digital marketing Resources or outsource to an external Digital marketing Agency 

  • Small scale businesses make use of different in-house resources that offer digital marketing strategies. A lot of small and mid-sized companies maintain the cost by completely working remotely. They choose to outsource digital marketing services to an external agency for achieving the maximum return on investment. 
  • You can make use of already available tools and technologies available. With it, you can do your task easily such as keyword research, article rewriting tools, and much more. Talk to expert digital marketers to help you make your business grow. 

Conclusion

Digital marketing has become an essential strategy to get more audiences to your brand online. With different digital marketing strategies, you would be able to scale your website with more visitors. 

Different brands need to look for several strategies that can let them stay in the market. Investing in Digital marketing could be beneficial by leveraging different tools and technologies. Hence you should highly invest in digital marketing to reach a wide range of audiences.