On this podcast episode, I speak with Dr. Shaun Mirabal about his aspirations to be a practice owner and how he is going to put his plan into action.

Dr. Shaun Mirabal graduated from the University of Oklahoma College of Dentistry in 2015 and worked as an associate dentist in DSO for two and a half years. He has since decided to open a dental practice with his wife and is committed to taking continued education courses to keep up with the latest advances in state-of-the-art technology and procedures in dentistry.

On the podcast we discussed:

    
• Shaun’s journey from graduation to becoming a practice owner
    
• Finding the right practice and what to look out for when you’re looking to buy a practice
    
• The importance of finding the right type of dentistry for YOU
    
• Why implants and digital dentistry is the future of the industry
    
• Understanding the true value of technology is vital before investing
    
• How to develop a “game plan” and why you need to re-evaluate it every 3 to 6 months
    
• Why you should define your goals into specific targets and write them down!
    
• Overcoming fears and challenges when buying a new practice

To listen to the podcast episode, hit play below:

Here’s a more detailed overview of our discussion…

Why do you want to be a practice owner?

This is a question that I ask a lot of my guests because I want to know what’s the real driving force and ambition that makes a person decide they want to be a practice owner.

When I asked Shaun this question, he said that he feels like he isn’t reaching his full potential as an associate. He has built his skillset and is only earning a small percentage of the dentistry work he is doing.

So, he decided to buy his own practice with his wife, who is also a dentist and works in the dental school as a course director. They make a great team (both in and out of the office), and their skill sets seem to complement each other perfectly – now that’s what I call a dream team!

Choosing the right practice

I was curious to find out why Shaun and his wife bought their practice and what was it about this particular practice that made them sign the contract and become practice owners.

One of the most influential reasons was the practice’s location and the fact that it had 2,800 active patients. Before they bought their practice, they were ready to purchase a different practice. They both handed in their notices to their current employers and right before they signed the contract and finalized the deal, the dentist pulled out.

At first, they were devastated. But thankfully, another opportunity to purchase an even better practice presented itself. The previous owner had worked hard to take his practice to the next level but unfortunately passed away before he could see it through, leaving all of his patients without a dentist.

So, Shaun and his wife decided to buy the practice from the state, and they firmly believe that they made the right decision and couldn’t be happier with how the practice is progressing.

Why are you learning implants now?

Many dentists don’t learn much about implant dentistry in dental school, and Shaun’s experience was no different. He talked about how he wanted to do more than just basic dentistry. He wants to do high-level dentistry and that, to him, is implantology.

Shaun is a perfect example of someone who has opened his eyes to the possibility of unlimited treatment options. He stated that he would rather do an implant than a basic filling because it’s the type of dentistry that brings him fulfillment and some level of satisfaction.

The digital workflow concept

We talked a lot about technology during our discussion, with a particular focus on the concept of the digital workflow and how it’s where dentistry seems to be heading.

Shaun talked about the technology he has in his practice, which caters to implant dentistry and orthodontics. But he also talks about his ambitions and the fact that he wants to integrate new technology to his practice but there’s just one problem – he doesn’t have the financial capabilities that will allow him to buy the equipment he needs to grow his practice.

My advice for dentists in a similar position to Shaun is to:

1. Make sure you have the desire to want technology, and you understand the real value of technology before investing.

2. Understand that it’s okay to be cautious. Develop a game plan and re-evaluate it every three to six months.

“The real value in technology is its ability to create confidence” – Tarun Agarwal

Challenges & fears when buying a practice

When you open a new practice, it’s only natural to feel some degree of fear or anxiety regarding the situation and Shaun was no exception.

He revealed his biggest fear is losing the financial security he had with his previous job as an associate. I advised Shaun to overcome this challenge by defining his “number of security”.

What do I mean by this?

Well, we all have a number with regards to how much money we need to make to live on. It’s important to think about your figure and set yourself a target. You need to know howmuch you need to support yourself, your family and pay the bills or mortgage, etc. but you also need to set yourself a target that you can realistically achieve.

Once you have a target set in place, you can begin to put the action in towards setting that target in motion. When you have a goal, it’s natural for us as humans to want to overachieve it.

Planning Ahead

I asked Shaun where he wants his practice to be in five years’ time. He was very focused on being the best, which is a fairly reasonable goal, but what defines “the best”?

The best means different things to different people. Shaun wants his practice to be the best place for implants – great, but how is he going to make that happen?

Having a vague goal isn’t as useful as having a more specific goal. If you have a more defined goal for the future, you’re more likely to achieve it because you know exactly what you want and how to get it.

Training your team and allowing them to help you achieve your goals is vital. After all, you cannot be the limiting factor of your success. Once you have defined your vision, you must provide others with the support and accountability to help execute your vision.

Get in touch with Shaun

If you would like to get in touch with Dr. Shaun Mirabal, you can send an email to Shaun.mirabal.dds@gmail.com or give him a call at 9186916193

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To watch a video of our discussion, hit play below:


This article originally appeared on TBoneSpeaks.com.