Lessons of the Wild

During the ‘lockdown’ I have had the pleasure of watching Live Safari Game Drives out of South Africa (which I highly recommend viewing with your Family), and started thinking what we can learn from the Animals of Africa.

TEAMWORK:

When hunting each Lion has their role to play. If they do not work as a TEAM, the pride will go hungry.


As you ‘climb your ‘ladder of success’, you will meet others who may have climbed to their peak, and could be on their way down. Ladders can be unsteady, especially the higher you climb. It is always safer (wiser) to have someone (or many) hold your ladder steady to prevent yourself from falling. Create a strong foundation. Don’t try and go at it alone, eventually you will fall. This is true in business, and in life. Surround yourself with people you trust, challenge you, have different talents, are honest, have good character and that you can build a meaningful relationship with.


When working together to achieve a common goal, we can help one another become more productive, and effective. Don’t Go Fast, Go Far.

“If you want to go fast, go alone. If you want to go far, go together”. African Proverb.

PERSEVERANCE:

A Cheetah only makes a kill 40-50 % of the time when hunting, and then 10 % of the time will lose the kill to another carnivore (Cheetah’s are built for speed).


If you give up on your Dream and Goals because you failed in achieving it on your first try, second try or even third try you will have difficulty in succeeding in life. The Cheetah is the smallest, and lightest of the Big Cats in Africa, however it is the quickest. The Cheetah uses its god given ‘talents’ to succeed and survive. Keep persevering, and use your talents to succeed.

“Through perseverance many people win success out of what seemed destined to be certain failure.” Benjamin Disraeli

FAMILY

Elephant mothers carry their babies for nearly two years before giving birth. They then make sure that their offspring get the best food, are taught (by them) the most useful skills and show their children how to lead the herd.


“Elephants have one of the most closely knit societies of any living species, organized into birth families, bond groups, clans and independent bulls. Related female elephants remain together all their lives.”


My father continuously emphasized the importance of Family when I was growing up, as I am doing with my kids. I know, if I ever needed my Family they would be there for me without question.


Family is extremely important, and the bond between siblings/ family should never be broken by anyone. I can never comprehend when I hear someone say they have not spoken to their sibling, parent etc. for x amount of years. (We are in 2020 pick up the phone, send a text to that one person you have been too proud of to reach out too –make the first move).

"Family is not an important thing. It's everything." - Michael J. Fox

PATIENCE

The Vulture has too show patience before it gets its chance to eat. They have to wait for an animal to make a kill, and then wait for them to finish eating. If the Vulture decided to move in for quick bite prior to the Lions finishing their meal, they may find themselves on the wrong side of a large paw.


Without patience we jump into situations we do not understand, we answer questions prior to comprehending what is being asked, we go red in the face, we raise our voice, we do not achieve our goals, we lose our friends, we do stupid things…..


Patience is a virtue.


Ø Patient People enjoy better mental health.


Ø Patient People are better friends and neighbors


Ø Patience helps us achieve our goals


Ø Patience is linked to good health

“If I have done the public a service, it is due to my patient thought” Isaac Newton

AERIAL VIEW:

When the Eagle is hunting for its dinner it does not sit on the ground….it takes flight. From above they are able to see a vast area which increases its chances of finding its next meal.


The Eagle has moved from ‘tunnel vision’ to the ‘helicopter view’. As humans we sometimes only look at one view, and don’t take a step back to see the bigger picture or the person viewpoint you are talking with.

“Learn to see the big picture. Often time we get tunnel vision and lose sight of the big picture and what we’re really trying to accomplish,” Robert Cheeke

There are many more lessons that can and have been learnt from the Wild. Please share your observations and what you may have learnt.


Convince Yourself it’s Possible, and Keep Moving Forward.


Source:

https://greatergood.berkeley.edu/article/item/four_reasons_to_cultivate_patience

Safari Game Drives:

https://www.andbeyond.com/bringing-africahome/wildwatchlive/?utm_campaign=309544_Indirect_Wildwatch%20Launch_30March2020&utm_medium=email&utm_source=Dotdigital&dm_i=5BIT,6MUG,26ZERN,P3BM,1

Memory Skill Tips

"According to a 2010 article in Scientific American, the memory capacity of the human brain was reported to have the equivalent of 2.5 petabytes of memory capacity. As a number, a “petabyte” means 1024 terabytes or a million gigabytes, so the average adult human brain has the ability to store the equivalent of 2.5 million gigabytes digital memory."*

The human Brain however, typically only remembers approximately 20 % of what you have learnt. To build up your memory you need to improve your short term memory to pass it along to your long term memory.

Below are some takeaways from a course I recently had the opportunity to attend.
(Please share your techniques in the comment section.)

·      Repetition

·      Spaced Repetition – If learn something today - repeat a day later, a week later, and then a month later your

·      Exaggeration – exaggerate the event into something bigger or smaller (e.g. you generally do not remember your work commute unless something happens such as witnessing an accident)

   Images play big role in memory –associate an image to what you want to remember

·      Focus – Don’t multi-task e.g. How many times have you lost your keys/ phone in your home? Often the reason is you are doing multiple things when you put your keys/ phone down somewhere

Mnemonic: Brain Shortcuts
Associate image with what you would like to remember   
 
Acrostic: Take first letter of each word to make a full sentence
 e.g. Oceans: I Am A Person
India, Arctic, Atlantic, Pacific

Acronym: Take first letter of words, use to make a word
e.g. AWOL - Absent Without Official Leave

Rhymes: Make up a rhyme (The “3 Rs” — rhyme, rhythm, and repetition)
 e.g. How many days in each month
Thirty days hath September, April, June, and November, all the rest have thirty-one.

Remembering Names:
·      Listen: Pay attention, and focus on the name and not on what you are going to say (pay attention).

·      Repetition – repeat it to yourself, and say a few times while talking to the person

·      Associate the name with something - Create a connection e.g. your best friend has the same name

·      Link the name with the face --- what stands out e.g. they have a dimple in their chin

Memorizing Speech, Script or Song:
 
Repeat Repeat Repeat
Say it out loud a few times, do not stop when make a mistake  --Try and remember between longer and longer periods (e.g. 1 day latter, 5 day later etc.

Record it – Play it back repeatedly in the background when doing mundane tasks etc. Try recite after you have listened to it many times.

·      Write it down a few times
·      Try and learn it backwards. It makes you concentrate on each line in isolation.

Remembering Passwords:

·      Password Phrase Method
Have a phrase that has numbers or words that are phonetically similar
Create a sentence you can remember, then use the first letters and punctuation of the sentence.
E.g. Hi my name is John, my daughter loves to dance!
Password: HmniJ,mdl2d!

Phrase could be something you associate the password with.
E.g. you work for a marketing company
I am in charge of the Arizona Tourism campaign, and I love my job!
Password: IaicotATc,aIlmj!

“Memory is the treasury, and guardian of all things.” Marcus Tullius Cicero

Presentation Tips: https://www.linkedin.com/pulse/my-wife-says-article-boring-what-your-thoughts-ryan-joffe/

Good luck!

Additional resources:
http://www.mempowered.com/
http://www.learninginfo.org/
https://www.helpguide.org/articles/healthy-living/how-to-improve-your-memory.htm
https://www.health.harvard.edu/topics/improving-memory
*https://www.cnsnevada.com/what-is-the-memory-capacity-of-a-human-brain/#:~:text=As%20a%20number%2C%20a%20%E2%80%9Cpetabyte,2.5%20million%20gigabytes%20digital%20memory.

https://www.linkedin.com/in/ryanjoffe/

Character vs. Reputation

“Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are.” – John Wooden

The above is easier said than done, but still holds true. In today’s world your past indiscretions and mistakes are more difficult to move away from, and are easier to spread.

Individuals have said things, and done things in their past which they may have believed in at the time, but cringe at now. People grow and evolve.

We need to look at the person’s character, and not rely on reputation which may or may not be true.

 The majority of religions include teachings on the nature of forgiveness. Everyone has ‘missteps’ in their life (some more than others). Don’t let those missteps, define your character.
Character is defined by your mental and moral qualities:
Are You Honest, Do You Show Kindness, Are You Generous, Are You Sincere, Are You Forgiving, and Do You Have Good Morals and Values.

I cannot speak for any of the names listed below, as I obviously do not know them personally. However, I can assume they have all shown some of the Character traits above. They all went through adversity, became successful, and did not go back to crime. My belief is that they took accountability for their mistakes by changing their life paths. They showed character.

Daniel Manville - served three + years in jail for manslaughter. While he was in jail he studied the legal profession, earning two college degrees. After he got out he went to law school. He passed the bar, representing both prison guards and inmates in civil court cases.

Uchendi Nwani - served six and a half months of labor at a federal boot camp for drug dealing. After his time, he lived in a halfway house and cut hair at the university salon where he resumed studies. He opened his own barber shop and shares his success by traveling nationwide, motivating others to follow their dreams even in the midst of adversity.

Jeff Henderson - served ten years for dealing and manufacturing cocaine as a youth. During his time in prison he discovered he liked to cook. When released, he worked as a chef in LA before moving to Las Vegas. He is currently working at Caesar’s Palace, earning top recognition and rewards.

Tim Allen - Before Tim Allen became a famous celebrity, he served two years + in the Federal Correctional Institution for cocaine possession and drug trafficking. After his time in prison he turned his life around and became a famous Hollywood actor.

50 Cent - Before he became a famous rapper, Curtis Jackson III (aka 50 Cent) served a six-month boot camp sentence (instead of his original three-to-nine years) for drug-related charges. While in prison, he earned his GED and was determined to make it as a rapper. His first album was a hit, and continues to make music.

Danny Trejo - Danny Trejo was in and out of prisons for charges relating to both robbery and drugs. He finally turned his life around and broke free of his addictions. He now plays been in many television shows and action films.

The past should never be forgotten, however if responsibility has been taken should it be forgiven?
We need to learn from the past to become better people with better characters.

Character cannot be taken away from you by any person

Convince Yourself It’s Possible, and Keep Moving Forward.

Be a Mensch!*

 Traits that Show a person’s underlying value of beliefs:

·      Generosity
·      Integrity
·      Loyalty
·      Devotion
·      Loving
·      Kindness
·      Sincerity
·      Self-control
·      Peacefulness
·      Faithfulness
·      Patience
·      Determination
·      Persistence
·      Adventurous
·      Fairness
·      Cooperation
·      Tolerance
·      Optimism
·      Spirituality
“Reputation is like a tree, and reputation like a shadow. The shadow is what we think of it; the tree is the real thing.” Lincoln

* "a person of integrity and honor"

Source:
https://www.arrestrecords.com/15-surprising-ex-convicts-who-made-it-big/
Articles:

Is the Art of Conversation being lost through technology: https://www.linkedin.com/pulse/art-conversation-being-lost-through-technology-causing-ryan-joffe/
Common Courtesy: https://www.linkedin.com/pulse/july-month-common-courtesy-ryan-joffe

https://www.linkedin.com/in/ryanjoffe/

Don't Leave it 'Til It's Too Late

My brother in law currently health wise is not doing well, and waiting on a transplant. The past 8 + months has been stressful for the Family, but especially for my sister in law, and obviously my brother in law.  The stress levels have recently gone up, as he is has recently been admitted to Hospital.

My sister in law and brother in law have shown strength, bravery, positivity , love and have continuously put on a brave face for their nephew and nieces, who love them ‘around the world’.

They play a big part in our children’s lives, and followed us from Chicago to Arizona to be close to them (and us).

The love shown to him has been unparalleled by his wife, who will not leave his side while he is in Hospital. We have suggested she go home at night to sleep, which is like blasphemy to her that we could even make such a suggestion.  The bond, and love shown between the two of them in unbreakable.

Family is extremely important, and the bond between siblings/family should never be broken by anyone. I can never comprehend when I hear someone say they have not spoken to their sibling, parent etc.  for x amount of years. (We are in 2020 pick up the phone, send a text to that one person you have been too proud of to reach out too –make the first move).

As my father emphasized the importance of Family when I was growing up, I am doing with my kids. I know in my heart, if I ever needed my Family they would be there (and if they were not my father would smack them!).

My sister in laws sisters have shown this kind of love for their sister and brother in law. We are all worried at the moment, but need to stay strong and brave. We are optimistic and I know in my heart that he will receive the transplant he needs.  Family is important during the ups and downs. The love you get from your parents, siblings, husbands and wives cannot be measured.

As my brother reminds me, “Live for the day, as you do not know what tomorrow is going to bring, but make sure to provide for the future as you never know what is going to happen.”

Keep moving forward, and go phone your Family!

2015-2019 Articles: What does Potty Training have to do with Business, Prospecting, Credit, Customer Service, Team Sport to Parenting

Communication Skills:
“It’s our ethos/ culture. This is the way we been doing it for 20+ years. If you do not like it, why did you leave xyz?” When you hear this statement, there has generally been a miscommunication. You may even be labelled a complainer or non-team player which may be difficult to come back from.”
https://bit.ly/33IDGkf
Creating a List for Success:
As a manager you are only as successful as the people you are managing, thus as you will see I had everyone set goals for themselves.
https://bit.ly/2QcnROI
Sales: Generating Leads:
https://bit.ly/2XaSgP6
Never Give Up:
“This lesson is often forgotten, as we all feel the need for instant satisfaction. My daughter of five has learnt early in life that to succeed you need to put in the hard work. This early lesson will only benefit her as she gets older.”
https://bit.ly/32DOSgI
Creating a Winning Team:
As in Sports, it is not always the team with the best players that wins, but the one that is well organized and has strong leadership.
https://bit.ly/33IETYP
Customer Service/ Being a Solution Provider
Many large institutions miss this mark on customer service. As the economy deteriorates, or your company looks to cut costs the first employees to lose their jobs are the non-revenue generators. This generally is your customer service team and marketing team. As these teams get smaller and smaller, more and more emphasis is being placed on the sales generators to provide the additional customer service.              
https://bit.ly/2q8QxgP
Being Customer Centric:
With competition in all Industries being highly competitive what are you, your business and employees doing to differentiate yourself from your competition? Are you speaking with your employees to find out what is working and not working to be able to provide the stellar and WOW Customer Service Experience?
https://bit.ly/2CE0K7H
Credit Score Dictating what job can get.
Approximately after 1 1/2 weeks he was informed that they were rescinding their offer due to his credit score “dings” and “dents”. Unfortunately Brad had been one of the thousands of citizens who had been caught in the Housing Bubble. In 2009 one of his properties he owned had gone into foreclosure. Due to delayed credit reporting it only started showing on his report in 2013.
https://bit.ly/2NZCHoU
Team Sport helps creating winning Business Teams:
If the players do not work together the team will ultimately lose the game. Even with a  ‘Star Player’ if they do not work with the rest of their teammates the team will ultimately lose more than they win.
https://bit.ly/2NI06fZ
Employee Happiness:
As the economy starts to shift into the positive, and the job market opens up companies need to start placing more emphasis on their employees 'happiness'. CEO's need to look at shifting gears before they lose their best employees to companies that realize this before them, and move quicker than them.
https://bit.ly/2QeDWDw
Patience: Everyone Learns at their own pace
“There is no royal, flower-strewn path to success. And if there is, I have not found it. For if I have accomplished anything in life, it is because I have been willing to work hard.” – C.J. Walker
https://bit.ly/32MW0Yg
Make sure you Present yourself well.
In life and in work we are continuously on a ‘stage’ giving ‘presentations’. Some people are better in presenting themselves or their message than others.
https://bit.ly/2O7vfYV
Crash course in Business Lessons
Sometimes you have to take a backseat (“siblings may get recognized for their achievements before you”) - In business work with your specialists, and have faith in them to take the lead. Recognize their achievements.
https://bit.ly/33Hzm4H
Business Loan Lessons for when applying for a Loan:
Please note the ‘M’s and the ‘C’s’ do overlap.
https://bit.ly/2Ocv4Mi
Remember to Relax and Take a Step Back and see the full picture
“Do you want to live in a crying house or fine house?” “If you want to live in a fine house then stop yelling.” After being taken back a little by this question, it reminded us that as a human being you control the situation and environment that you would like to live and work in.
https://bit.ly/2NHh1z5
Choosing the right Partner
As Elon Musk stated, he is able to make change within his vehicles quicker idea (get an approval) than his larger competitors as Tesla is more nimble and has less layers of management (less bureaucracy) to answer too.
https://bit.ly/2X5YRu0
Prospecting:
Sorry I am not interested. Sorry, I am not looking to change. Sorry, I am happy where I am. Sorry, it is too much effort.…..anyone in sales has probably heard these phrases
https://bit.ly/373lvIa
I understand that they cannot, and do not want to respond to every call, email and drop-in they receive. However, I do believe if a Salesperson/ Solution Provider shows initiative, does their research, and thinks outside of the box a courtesy call or email would be justified. This courtesy in the long or short term could be rewarding.
https://bit.ly/2CBl5KL
Sometimes you need to make your own luck when looking to a new career/ job
There are hundred different reasons’ you may be looking for a new position. Your reason for looking/ leaving your current position will be one of the first questions you will be asked
https://bit.ly/2NFwFuW
Common Courtesy:
Today, when you email someone internally or externally from your company it’s a 50/50 chance they will respond in a timely manner or at all. The same seems to be the case when leaving a voice message, and the odds drop I would say to less than 30 % response rate when sending someone an Evite. Has technology been slowly eating away at our common courtesy.
https://bit.ly/32GP0Mn
Technology Destroying Communication Skills
 We are losing the capabilities of being able to read body language and tone of voice as there are fewer conversations happening on a daily basis. This in turn is leading to an extremely politically correct society, as we cannot distinguish what is a joke or not.
https://bit.ly/2Q8OaFA
Emigrating:
The first piece of advice I was given after arriving was too talk slower and enunciate. South Africans tend to swallow their words and run their sentences together. After fourteen years I still sometimes need to remind myself too talk slower. If you were looking to give yourself advice in life and business today what would it be?
https://bit.ly/32AsEMw
Networking Groups:
When you were climbing the ladder of success, would it not have been great to meet your future self to give yourself advice on what you should have done or not have done.
https://bit.ly/2ph9X2Q
Starting a Networking Group:
Creating a networking group can be a lot of work, throw up many roadblocks, yet can also be very rewarding.
https://bit.ly/2NGoDSi
Leadership:
How important is leadership within an organization?
https://bit.ly/34T3ytM
So what can we learn from this transformation of a side languishing in 8th position in the Premier league?
https://bit.ly/2Kje71w
Believe in yourself:
To put it another way the odds of Simon Cowell to become the next Prime Minister was 500/1, for Hugh Hefner to admit he's a virgin 1000/1, Andy Murray to name his first born Novak 500/1.
https://bit.ly/2CFqAIE
How’s your Driving?
If I was a hiring manager and saw the candidate drive in the manner outlined above prior to coming into the interview I may have some preconceived ideas about the candidate. Rightly or wrongly they may have an additional hurdle to overcome during the interview.
https://bit.ly/371SUTe
Overcoming Obstacles. Keeping yourself happy
During the process of overcoming the roadblocks and set-backs what did you do to keep yourself happy, and moving forward?! It is easy to digress into depression when things do not go the way you had planned or envisioned.
https://bit.ly/34NUZjY
Working on your Vacation:
So what do you do, when you are on vacation and have Cell Phone Reception and you continuously hear the beep of a new email coming in? Are you able to switch off?
https://bit.ly/2NGEwrV
Organizing a Golf Day.
 Our enthusiasm, belief in our group, people we knew and what we were looking to achieve drove us forward. We were excited to assist our community in making new connections and raising funds for a Non-for-Profit of our choosing.
https://bit.ly/2NKHc8d
Parenting:
If you followed all the 'rules' of today you would drive yourself and everyone around you crazy. Your child may grow up expecting everything to be done for them, not understand that everything is not put on a silver plate, that there are winners and losers (in sport and in life).........Yet........they Will all be in touch with their feelings and have lots of trophies
https://bit.ly/2CC0xSx

Prospecting - Knock Knock Anyone There?

When reaching out to prospects I believe you should look to position yourself as a Solution Provider, and not come across as a ‘Salesman’. Your goal should not be to sell or push products, but to provide insight in how you and your Team offer customer service (which I believe is lacking currently), solutions and ideas on how you can assist now or in the future.

Prospecting is hard work, yet can be rewarding. Business Owners, CEO’s and CFO’s are constantly bombarded with emails, phone calls and drop-ins which can get overwhelming and ‘irritating’. Getting a response can be difficult.

I understand that they cannot, and do not want to respond to every call, email and drop-in they receive. However, I do believe if a Salesperson/ Solution Provider shows initiative, does their research, and thinks outside of the box a courtesy call or email would be justified. This courtesy in the long or short term could be rewarding.

Business Owners, CEO’s and CFO’s should remember that the people calling on them have their own connections, and businesses they work with which may be useful to their business (or themselves personally), and how you interact with them will dictate whether they will make those connections/ referrals.

One of my colleagues laughs at me, when I get ‘upset’ that a prospect has not responded when I have gone the ‘extra’ step in my prospecting process ( e.g. written a personal handwritten card, dropped off a book in a subject matter I know they enjoy etc.). All someone is generally looking for is an acknowledgement, and a polite thank you I would love to meet, or thank you for reaching out but not interested at this time.

When saying no thank you, be polite. When you are polite, and still saying no, the person calling on you they may still look to refer your company Business, or connect you with people who may be beneficial/helpful to you or your company.
I recently had a prospect thank me for my efforts, let me know that their banker is their good friend, and had been with them for many years. The best present they could give me was my time back, as they were not a good prospect for me. I respected their response, and appreciated their candor. If I ever have a business that requires their type of service, I would be happy to provide their contact details.

On the flip side, a prospect (who is in marketing, which made their reply even more surprising to me) replied thank you for reaching out, please do not contact me further. (FYI: They had not been bombarded with phone calls, drop in’s, or emails….which can be annoying). Their abrupt response left a ‘sour taste’. This particular Marketing Company concentrates within a specific Industry that I have connections in. If I had received a polite no thank you, or even better a meeting with them, I would have been happy to make introductions. Being Polite does not cost anything, even to people you do not know.

Both emails had the same message that they were not interested, yet the one company will get referrals and respect, while the other will not. Life is short, so better not to burn bridges.
Be polite when replying, respond when you notice the person reaching out is doing their research, and is not the ‘same’ as everyone else calling on you. You never know how they can assist you, or who they may know that they can introduce you too.

“E-mail has some magical ability to turn off the politeness gene in a human being.” – Jeff Bezos
"Don't watch the clock; do what it does. Keep going." -Sam Levenson
Keep moving forward.

Healthcare Financing

As more healthcare practices are being Consolidated, Acquired, Sold Expanded etc. I have provided some example questions for Dental Practices (many would be relevant to other Doctor Fields), and financials that would be required to help with a smooth lending experience. (By having this information ready, it will quicken the underwriting process, and hopefully prevent some headaches.)

On the lending side Financial Institutions can assist with Acquisitions, Expansion, Practice Buy-Ins, Working Capital/Term and Equipment Purchases. (Generally looking for the practice to be in existence for 2+ years otherwise seen as a startup)

HEALTHCARE FINANCING:
Some Options Available: Physicians, Dentists, Veterinary Services, Optometrists, Mental Health Specialists etc.

With conventional underwriting Banks are generally looking for cash flow of 1.2 or greater (subject to time in business, strength of guarantors, length of loan etc.).

1. Acquisitions/ Expansions/ Buy-ins subject to the strength of the borrower (and time in business) options up to 15 years (subject to strength of the borrower and time in business) and 100 % financing (conventional financing). SBA options can provide alternative options
2. Real Estate: up to 10 year terms, 25 year amortization and up to 100 % financing. (There are also SBA options which provide alternative options.) You/ Client should be provided ALL options.
3. Working Capital/ Term Facility: up to 10 year terms, 10 year amortization and up to 100 % financing. (SBA options provide alternative options)

Borrower Information:

• What type of Practice? (e.g. what procedures will be performed)

Staff : Current /Proposed
Dentist(s)
Office Manager(s)
Administrative
Dental Assistant(s)
Hygienist(s)
Associate(s)
Other

• Resume
• What is the borrower’s basic business strategy, key factors to success, and primary competitors? 

Loan Request

• Purchase Price
• Business Evaluation (if available)
• Sources and Uses (i.e where funds are coming from, and what they will be used for e.g. equipment, buildout, purchase of real estate etc.)
• Practice Acquisition:
• Who are the primary customers and how are payments received (e.g. Fee for Service, Insurance/PPO etc.)? 
• What is the borrower’s basic business strategy, key factors to success, and primary competitors? 
• Why the borrower would like to purchase this specific practice. 
• Discuss any procedures performed by the seller (i.e. crown & bridge, fillings, endodontics, etc.) that will not be maintained by the borrower? Will the borrower maintain the existing production of the seller?
• Why is the practice being sold? What is the transition plan? Will the seller have a non-compete agreement
• Is there an Associate working in the practice? If yes, please address the following:
• Why have they elected not to purchase the practice?
• Does the Associate plan to remain with the practice post acquisition? 
• What is their compensation and will that change post acquisition? 
• What is the associate’s non-compete agreement and will that change post acquisition?
• What, if any, concerns are there regarding patient and/or staff attrition?

Practice Startup (less than 24 months in existence)

• How many days per week (current/proposed) is the borrower working as an Associate? What is the distance between their Associate and proposed practice location? 
• Is the borrower currently under a non-compete agreement? If yes, how many years are remaining and what are the distance requirements?

General Questions:

• How many active patients do they have?
• How much of the revenue comes from routine hygiene visits?
• What new services will be added or removed?
• How does / will the practice do to ensure high patient retention?
• Does/ Will the practice take advantage of the demand for cosmetic dentistry?
• Breakdown of procedures income generated.
• How many chairs?
• Hours of operations?

Provide any additional information you believe is significant to this request.
FINANCIALS:

• 3 Most recent Years Business Tax Returns (of current Dental Practice and Dental Practice purchasing
• 3 Years yearend Balance Sheet and income Statement (internally prepared is fine) – if available
• Interim Financials current year v. previous year (Balance sheet and Income Statement)
• 2 Years Personal Tax Returns
• Personal Financial Statement (Owners of 20 % or more) - the bank will provide
• Accounts Receivable and Payable Aging
• Projections
• If Startup (Business Plan)

Please feel free to reach out with any questions. If you have some good advice please share in the comment section.



Reminder: Each loan request is different. The above are guidelines only.