Exiting Practice on Your Own Terms – Martin & Debra Crombie: Ep #491

Today, I’m joined by Drs. Martin and Debra Crombie to discuss their success in selling their practice and how they are developing their skills to invest their capital. They share how they overcame the anxiety over financial security and their discovery of a path to financial freedom through the Freedom Founders community.

Martin and Debra have a unique ability to articulate the emotional and practical aspects of significant life decisions. Expect to hear about key resources that helped them successfully close the deal and the critical role of due diligence in ensuring a successful practice sale. Listen to this episode to learn how to navigate the complexities of a practice transition and take control of your financial future.

Minute Markers:

1:48 – Committing to a practice sale and dealing with second thoughts.
3:40 – How to leverage counsel and outside eyes to create the transition you desire.
8:01 – How to negotiate effectively with DSOs.
10:38 – The benefits of direct negotiation vs using attorneys.
13:45 – Taking charge of your investing post-sale to create certainty and control.
14:24 – Why the outdated retirement model wasn’t enough to create certainty.
22:11 – Financial Freedom vs Freedom of TIME
23:50 – You’ve sold your practice… now what? How to invest post-sale.
26:33 – Eliminating your blindspots – how to make better decisions and achieve your goals

If you like this episode, here are more episodes we think you’ll enjoy:

Investor Alert! Navigating Market Turbulence – What You Don’t Know May be Harmful to Your Financial Future! – Frances Stacy: Ep #490
Deciding Whether to Sell—and How to Sell – Perrin DesPortes: Ep #486
What’s Next? – Life After Exiting Clinical Practice – Daniel Sage: Ep #484

Featured on the Show:

#financialfreedom #practicesale #investingcapital #overcominganxiety #freedomfounders

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!

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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.

“”I felt like I was drowning, and I knew there had to be another way. The blueprint weekend at Freedom Founders gave us the ability to have the life we envisioned. Not this, ‘Hope you have enough’ and ‘Glad you saved all your money…

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“It was the lack of knowledge that gave us anxiety… Knowledge is power, and the relationships we gained gave us the knowledge and confidence.” – Martin and Debra Crombie