Dr. Brady Smith, comedian and dentist, bought into a practice straight out of dental school, made more in his first months than most of his classmates would in years, and spent twelve years as an owner before he learned the one thing nobody told him: the practice he "owned" couldn't be used as collateral for anything. He found out when he tried to buy a house.

Brady is a multi-practice owner, the host of Laughing My Gas Off, and the most-followed comedian in dentistry. He's also the rare owner who'll tell you, on the record, that he's had months in the last two years where he didn't pay himself.

In this episode of Practice Purchased, Brian Hanks and Brady get into the question this season is built on: how do you know you're ready? Brady's answer comes from the comedy stage as much as the operatory. Nobody feels ready the first time. You go on, it goes okay, you find out what you didn't know, and you get reps. Ownership works the same way, except the reps are months.

One thing worth noticing: Brian describes the two associates he talks to every day, the one who's terrified and the one who's furious at their DSO. Brady's read on which one is closer to ready is not the one you'd guess.

In this episode:

• The worst reason to buy a practice, and why it sounds perfectly reasonable when you're an associate
• What Brady wishes Comfort Dental had told him before he bought in, and who the franchise model is right for
• The Caesars Palace moment: opening for Sebastian Maniscalco in front of 1,800 dentists, and why he still needed reps afterward
• Why "there's no practice run for ownership" is wrong: month one, month two, month twelve
• Months with zero owner income, months with six figures, and why associates never see either
• The angry associate versus the scared one: the questions Brady would ask each before saying "go"
• Rapid fire: toothpaste, favorite comedians, the adult treasure box, and the best dentist to follow on social media

Thinking about owning someday? Get Brian's free Ready Kit for the steps leading up to buying a practice: https://www.dentalbuyeradvocates.com/ready

More resources

• Read How to Buy a Dental Practice
• Book an introductory call with the Dental Buyer Advocates team

About the guest Dr. Brady Smith is a general dentist, multi-practice owner, and comedian based in Portland, Oregon. He hosts Laughing My Gas Off and performs at dental conferences across the country, including opening for Sebastian Maniscalco at Thrive Live in Las Vegas. Find him on social media and at https://www.drbradysmith.com/.

Practice Purchased is hosted by Brian Hanks, MBA, CFP, founder of Dental Buyer Advocates and author of How to Buy a Dental Practice.