Episode #234
20/20 Money Episode #234- Nurturing culture in a practice when the seller stays on in the practice they just sold w/ Dr. Mick Kling, OD
May 1, 2023
Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD (Mick’s Practice, info on Mick’s Impact Leadership business). Mick joins me on the show today to talk about the balance and “passing of the torch” from the seller to the buyer if the seller decides to stay in the practice and work post-sale and what that means for the culture of the practice. We talk about the idea of high power/low power positions of authority, the difference between direct and indirect communication styles, why it’s likely inevitable that you’ll have turnover in the practice post-close (and why that’s not necessarily a bad thing), and that despite the perceived challenge of maintaining and understanding culture, we know that success isn’t just possible, but probable from one generation of practice owners to the next.
As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!
And with that introduction, I hope you enjoy my conversation with Dr. Mick Kling, OD.
Resources:
20/20 Money Community Information
A deep dive into practice transitions with Mick Kling (Part 1)
A deep dive into practice transitions with Mick Kling (Part 2)
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