the successful navigation of a deal . Unfortunately , it is also the factor where the greatest number of people contribute to a failure . In my previous points , the buyer and seller can overcome or smooth over a multitude of imperfections with simple , honest communication . Without clear communication , each point I ’ ve made here gets exacerbated .
Countless books have been written about effective communication , and communication skills are outside the scope of this article . What ’ s most important is to recognize that everyone in the between dentists and their employees . The destruction of personal goodwill between negotiators by poor or careless communication can and will wreck a deal more than any hang-ups on price or restrictive covenants .
Effective communication requires honesty between parties on what it cost them to get to the table in the first place , what they want now that they are here , and what specific costs will make them walk away . It is vital for negotiators , including the dentists involved , to keep an open heart and an open mind .
Negotiations are hard . They get harder when we , as humans , mess them up .
deal process is human . Misunderstandings will happen ; misinterpretations of emails will happen ; mischaracterizations of intentions will happen ; sensitivities will be offended ; jokes will not land . Awareness is half the battle ; self-awareness seems to be the other half .
Further , offense and misunderstandings are especially toxic to negotiations in dentistry because so much of a practice ’ s success stems from goodwill and reputation , whether between patients and the dentist ( and then the dentist who replaces the first ) or
Joseph McGregor handles most of McGregor & Oblad ’ s dental startups , acquisitions , partnership matters , employment contracts , and other business-related transactions . His education emphasized corporate law , and his professional background is in larger business transactions involving sophisticated commercial acquisitions and real estate arrangements . Joseph McGregor holds a B . S . in Finance and graduated from the law school at Brigham Young University . Joseph is a native of Salado , Texas . He has a wife and five kids – and an unhealthy passion for college football . For answers about your specific concerns , send email to : jmcgregor @ mcgregorfirm . com .
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