Hey guys! If you listened to Ep. 3 of Transition Talk you know we talked all about the interview process and what TO and what NOT to do and say. If you missed it, head on over to our Podcast page to listen.
In reality, the way you communicate during that first interview really shouldn’t be any different than future communications in so far as a) use your manners, b) be an active listener and c) remember that these communications likely feel just as big on both sides of the table. The goal is to continue the conversation and have an opportunity to prove that you are the buyer (or seller) that they want to move forward with!
The more times you meet, the more the lines of communication open up, and honestly, how open and how quickly this happens really depends on each of the parties personality. Every situation is different, but here are some topics and areas of discussion that we think are safe for the first couple of “get to know you” meetings (in no particular order):
- What do you love most about your practice?
- What do you think someone needs to succeed in your practice/community?
- What is your clinical philosophy?
- How do you and your family like to spend your downtime?
- What are your transition goals?
- Where do you see yourself 5-10 years from now?
- How do you see a future transition/partnership working?
- What is the most challenging part of practice ownership?
- What gives you the most joy from your practice?
- Tell me about your staff
Open ended questions that spur conversation are always better than simply yes/no answer questions!
Questions about specific practice metrics or numbers are generally a no-go for these first few meetings – of course, every now and then you meet a analytical seller who offers this information up voluntarily but generally you’ll need to build up a bit more trust. Remember, as Charles mentioned during the episode – other facts (how far out the practice is booked, number of ops, hygienists, etc.) can give you insight without specifics!
Got an upcoming interview or meeting and want some specific advice? Give us a call for a complimentary coaching call!