995: Crisis Coverage Planning – Paul Sletten

Things happen that you don't plan for — and you want to be prepared! In this episode, Kirk Behrendt brings back Paul Sletten, founder of The Sletten Group, to share how to plan for the unplanned by creating a crisis coverage group to protect you and your practice. To learn how to plan smarter and have peace of mind, listen to Episode 995 of The Best Practices Show!

Learn More About Paul:

1. Give Paul a call: (303) 699-0990
2. Send Paul an email: paul@lifetransitions.com
3. Learn more about The Sletten Group: https://theslettengroup.com

More Helpful Links for a Better Practice & a Better Life:

1. Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
2. Join The Best Practices Association: https://www.actdental.com/bpa
3. Download ACT’s BPA app on the Apple App Store: https://apps.apple.com/us/app/best-practices-association/id6738960360
4. Download ACT’s BPA app on the Google Play Store: https://play.google.com/store/apps/details?id=com.actdental.join&hl=en_US
5. Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
6. Get The Best Practices Magazine for free: https://www.actdental.com/magazine
7. Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218

Episode Resources:

1. Watch the video version of Episode 995: https://www.youtube.com/@actdental/videos

Main Takeaways:

1. Between 5% and 10% of dentists will have some type of career-interrupting event.
2. Every dentist needs to have two plans: an ideal transition plan and a crisis plan.
3. Choose 9 colleagues to be part of a crisis coverage group for up to 90 days.
4. Meet with your coverage group practices frequently to keep things fresh.
5. Each practice should appoint a crisis coordinator as a point person.
6. Be sure to select the right people for your crisis coverage group.

Snippets:

0:00 Introduction.

0:55 Paul’s background and The Sletten Group.

2:42 Why this is an important topic.

3:26 Two plans every dentist should have.

5:43 The crisis coverage group, explained.

10:08 Rules of the pledge agreement.

11:25 Have practice valuations done at the beginning.

12:51 What to know about overhead and disability insurance.

14:38 General dentists versus specialists.

15:59 Appoint a crisis coordinator.

16:58 Have periodic meetings.

17:57 What dentists get wrong about crisis coverage groups.

19:12 More about The Sletten Group.

21:19 Last thoughts.

Paul Sletten Bio:

Paul D. Sletten founded The Sletten Group, Inc. in 1975 in Denver, Colorado. They are in their 51st year of business and have developed an international clientele, having assisted and completed transitions in all 50 states, six provinces in Canada, and two states in Australia. They continue to exclusively work with fee-for-service dentists and their teams around the country.

Paul has spoken at more than 285 dental meetings around the country. This includes almost all of the major dental meetings and numerous study clubs. The topics focus on all aspects of practice transitions, including buying a dental practice, selling a dental practice, and much more, as well as personal growth and development for dentists and team members.