Joining the podcast today is, Dr. David Moffet, creator of The Ultimate Patient Experience, and a dental practice management and profitability expert. He shares his journey from running a highly profitable dental practice to selling it in 2007, and the steps that led to his transition into the coaching world, and what dentists should focus on before exiting practice.
Dr. Moffet discusses his philosophy of practicing for longevity versus quick fixes, and providing a great experience for your patients. We also discuss the power of networking and masterminding with like-minded professionals to accelerate personal and professional growth, why you shouldn’t blindly trust financial advisors or government-regulated retirement accounts to safely retire, and much more!
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Minute Markers:
- 02:46 – David Moffet’s journey from selling his practice to becoming a coach.
- 04:30 – What first got David to consider sharing his dental knowledge.
- 05:21 – How David’s dental practice became the first corporate rollup in Australia.
- 07:11 – Making the practice sale money work for you, and the con of being unable to use your 401k.
- 10:30 – How the government continues to change the rules for retirement.
- 12:04 – The hard lesson learned when the stock market crashed.
- 13:49 – The importance of planning and not putting all your eggs in one basket.
- 16:30 – Why David acquired a philosophy of longevity instead of quick fixes.
- 20:32 – The power of having a dental practice where patients know better care is worth the extra dollars.
- 21:41 – How The Ultimate Patient Experience was born.
- 24:32 – The power of connections in a mastermind.
- 25:26 – The move David made into group coaching and what life looks like for him today.
- 30:20 – The problem with not having a plan for when you exit your practice.
If you like this episode, here are more episodes we think you’ll enjoy:
- Ep #526 – Brannon Moncrief – Dental Practice Transitions – DSO Trends, Seller Options and Best Practices
- Ep #525 – Dr. Victoria Peterson – Investment Grade Practice – The Business Principles Every Dentist Needs to Succeed
- Ep #523 – Perrin DesPortes – Creating a Business That Runs Itself – The Truly Successful Business Owner
Featured on the Show:
#davidmoffet #financialplanning #patientexperience #businessgrowth #dentalpractice #sellingyourdentalpractice #investing
Watch full length Interviews on video!
Watch full length interviews on David’s YouTube channel by going to www.DentistFreedomBlueprint.com/YouTube. Don’t forget to subscribe to David’s YouTube Channel for more content on maximizing your business, wealth, and creating a financial blueprint to reach your Freedom faster!
Join the tribe of dentists ditching Wall Street. Get more insights, resources and inspiration for creating asset based income and Freedom. Follow us on Facebook here.
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think):
1. Schedule a Call with My Team:
If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least 1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.
2. Become a Full-Cycle Investor:
There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they’re about to learn the hard way what others have gained through “expensive” experience. I’m offering a free report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here.
3. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.
Want to know more about David and schedule him as a speaker or podcast guest? Go to doctorphelps.com to book David now.
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