Ask George - Should You Start or Acquire Practice #2 and Beyond?
Shared Practices | Your Dental Roadmap through Practice Ownership
Dr. George Hariri | Shared Practices Network
4.9 • 559 Ratings
🗓️ 17 March 2025
⏱️ 36 minutes
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Summary
Expanding from one practice to multiple locations is a whole different ballgame—are you ready for it? In this episode of Ask George, Dr. Richard Low and Dr. George Hariri break down the critical decision points, from assessing your readiness to navigating the burdens of multi-practice ownership. They dive deep into the challenges of acquisitions vs. startups, the importance of long-term vision, and why patience and quality always outweigh reckless growth. If you're thinking about scaling your practice, this is the must-listen roadmap to doing it right!
Transcript
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| 0:00.0 | Welcome to the Shared Practices podcast. We are going to infinity and beyond here with this Ask George. |
| 0:11.8 | We were joking about the title. This is a part two in a super productive, amazing discussion. You know, we've been talking about startups and acquisitions, |
| 0:22.1 | practice ownership for eight years, and these two episodes are blowing my mind because we're |
| 0:27.9 | combining our framework of practice ownership, our avatars, our growth pathways with which is |
| 0:35.5 | the appropriate tool. And this is an exciting episode because now we're |
| 0:38.6 | talking about beyond the first practice. So talk to us a little bit about this, George. |
| 0:42.6 | Yeah. So I'm actually with the upcoming CEO course in January, I'll be teaching just an |
| 0:47.3 | hour about multi-practice. And so I kind of put together some first principles. And one of the |
| 0:52.2 | most important things that I start with is passion or purpose. You've got to have one or the other to do this. It's got to be some |
| 0:59.1 | level of an irrational drive pushing you. It has to be. And you, Richard, you know from doing this, right? |
| 1:04.6 | It's not easy. No. And it's, you don't get like, there's a lot of rainy days and the sunny days there's sunny days |
| 1:11.7 | and rainy days right when you're owning and operating a business and the amount of rainy days that |
| 1:16.1 | you have and the stress level of operating a larger group is fairly high and if you're just doing |
| 1:22.6 | it for like a financial reason and you don't have like a passion for entrepreneurship and the challenges |
| 1:28.7 | or like a deep purpose behind the company mission and why you're doing this, it can be hard |
| 1:33.2 | to make it through those times and understand like, why am I putting myself through this |
| 1:36.9 | type of misery? And so I think that before we get to the acquisition or startup, I just want |
| 1:42.1 | to spend a little bit of time on if you're going |
| 1:45.7 | to have beyond one location, spend the time to think about what you're doing and why and what's |
| 1:51.8 | the end goal and like, just like have some of those things put together. And so I kind of wanted |
| 1:57.3 | to put together a menu of different options. Let me comment on two of those things first. |
| 2:02.0 | I think for your first three to five practices, so going from one, two, three, four, five, |
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