{"id":40859,"date":"2025-05-28T09:50:14","date_gmt":"2025-05-27T23:50:14","guid":{"rendered":"https:\/\/www.bitemagazine.com.au\/?p=40859"},"modified":"2025-06-04T12:53:22","modified_gmt":"2025-06-04T02:53:22","slug":"the-diary-of-a-first-time-practice-owner","status":"publish","type":"post","link":"https:\/\/www.bitemagazine.com.au\/the-diary-of-a-first-time-practice-owner\/","title":{"rendered":"The diary of a first-time practice owner:"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1024\" height=\"600\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl.jpg\" alt=\"a guide for a first-time practice owner\" class=\"wp-image-40860 lazyload\" data-srcset=\"https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl.jpg 1024w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-300x176.jpg 300w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-768x450.jpg 768w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-717x420.jpg 717w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-150x88.jpg 150w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-600x352.jpg 600w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-696x408.jpg 696w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><noscript><img decoding=\"async\" width=\"1024\" height=\"600\" src=\"https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl.jpg\" alt=\"a guide for a first-time practice owner\" class=\"wp-image-40860 lazyload\" srcset=\"https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl.jpg 1024w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-300x176.jpg 300w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-768x450.jpg 768w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-717x420.jpg 717w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-150x88.jpg 150w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-600x352.jpg 600w, https:\/\/www.bitemagazine.com.au\/wp-content\/uploads\/2025\/05\/credabl-696x408.jpg 696w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/noscript><\/figure>\n\n\n\n<p><em>This article is sponsored content brought to you by Credabl.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-not-so-ordinary-startup-guide-by-credabl\">A not-so-ordinary startup guide, by Credabl<\/h2>\n\n\n\n<p>Opening a dental practice is more than just a career move \u2013 it\u2019s a leap of faith. One moment you\u2019re refining molar margins. The next, you\u2019re comparing flooring quotes and wondering if your air compressor should cost more than your car.<\/p>\n\n\n\n<p>At Credabl, we\u2019ve helped thousands of dentists bring their practices to life. We know the first 12 months are filled with sharp turns and small victories. That\u2019s why we\u2019re ditching the jargon-heavy checklist and offering something different.<\/p>\n\n\n\n<p>An imaginary tale of the journey to practice ownership \u2013 unfiltered. Imagine it\u2019s you. Perhaps you can relate, or perhaps you\u2019ll be inspired. Either way, we know you\u2019ll enjoy the read.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-12-months-five-curveballs-and-one-flexible-loan-taught-me-about-going-out-on-my-own-nbsp\">What 12 months, five curveballs and one flexible loan taught me about going out on my own &nbsp;<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-month-0-the-spark\">Month 0: The spark<\/h3>\n\n\n\n<p>You say it out loud: \u201cI want to open my own practice.\u201d Cue excitement, anxiety, and five open tabs titled \u201chow much does it cost to start a dental clinic?\u201d<\/p>\n\n\n\n<p>Note to self: The first question isn\u2019t how much \u2013 it\u2019s why. If you\u2019re clear on that, the rest follows.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-month-2-the-big-choice\">Month 2: The big choice<\/h3>\n\n\n\n<p>Buy an existing practice or start from scratch?<\/p>\n\n\n\n<p>Acquiring a practice that is already up and running means, I would have infrastructure and patients from day one. Whereas starting fresh offers complete freedom to design and build my practice.&nbsp;<\/p>\n\n\n\n<p>Note to self: Revisit your Spark. It will help you choose the path that aligns with your goals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-month-3-the-plan-and-the-panic\">Month 3: The plan (and the panic)<\/h3>\n\n\n\n<p>Business plan? Started. Cash flow forecast? Outsourced. Costs creeping in from all directions \u2013 fitout, equipment, software, snacks\u2026<\/p>\n\n\n\n<p>Then I called Credabl. They offered 100% finance for my setup and a drawdown loan with no repayments for 12 months. Others had options, but Credabl\u2019s flexibility and calm guidance made all the difference.<\/p>\n\n\n\n<p>Note to self: Fitout is where dreams meet budgets. That designer pendant light? Maybe not right now.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-month-5-the-cashflow-curveball\">Month 5: The cashflow curveball<\/h3>\n\n\n\n<p>Invoices piling up. Doors still shut. Revenue? Zero. Without that repayment-free buffer from Credabl, I\u2019d be stuck. Instead, I could breathe.<\/p>\n\n\n\n<p>Note to self: Thinking your savings will carry you through? They won\u2019t. Cashflow surprises everyone. Financial flexibility isn\u2019t a luxury. It\u2019s survival.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-month-7-building-a-team-and-myself\">Month 7: Building a team (and myself)<\/h3>\n\n\n\n<p>I hired a nurse. Then a receptionist. Then realised I\u2019d never managed people before.<\/p>\n\n\n\n<p>Credabl introduced me to Prime Practice who offer a starter kit equipping me with practical HR templates, guides, and foundational leadership tools \u2013 all tailored to first-time owners. Joining the Grow Community also meant I saved time finding other business partners I needed to get up and running. Suddenly I wasn\u2019t alone. Other dentists had walked this road. Now they were walking it with me.<\/p>\n\n\n\n<p>Note to self: Leadership is its own skillset. A people plan matters as much as a floor plan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-month-10-open-for-business\">Month 10: Open for business<\/h3>\n\n\n\n<p>The first patient complimented the fitout (yes, the pendant light stayed). The second booked a hygiene appointment. The third? No-show. That\u2019s life.<\/p>\n\n\n\n<p>Posted a photo online. Five shares. Two bookings. Zero regrets.<\/p>\n\n\n\n<p>Note to self: Marketing doesn\u2019t come naturally to me. Thankfully, there are teams who do it for a living.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-month-12-one-year-on\">Month 12: One year on<\/h3>\n\n\n\n<p>I\u2019ve learned this journey isn\u2019t just about dentistry. It\u2019s about resilience, delegation, cashflow, and connection.<\/p>\n\n\n\n<p>Would I do it again? Absolutely. But this time, I\u2019d call Credabl even sooner.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ready-to-take-the-first-step\">Ready to take the first step?<\/h3>\n\n\n\n<p>This diary may be fictional, but the support behind it is very real. At Credabl, we\u2019ve worked with thousands of dentists and hear the same stories regularly: the surprise cashflow crunch, the common pitfalls, and yes, the dream of the perfect pendant light.<\/p>\n\n\n\n<p>We\u2019ve written the book on buying a practice. Literally. Drawing on over 30 years of experience, we created the <em>Starting in Private Practice Checklist<\/em>: a practical guide packed with insights and questions every new owner should ask. <a href=\"https:\/\/www.credabl.com.au\/article\/private-practice-checklist\/?utm_source=article&amp;utm_medium=magazine&amp;utm_campaign=education\">And it\u2019s yours to download.<\/a><\/p>\n\n\n\n<p>Whether you\u2019re still dreaming or ready to act, Credabl is behind you every step of the way.&nbsp;<\/p>\n\n\n\n<p><strong>T+Cs apply visit <a href=\"https:\/\/www.credabl.com.au\/terms-and-conditions\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.credabl.com.au\/terms-and-conditions&nbsp;<\/a><\/strong><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article is sponsored content brought to you by Credabl. A not-so-ordinary startup guide, by Credabl Opening a dental practice is more than just a career move \u2013 it\u2019s a leap of faith. One moment you\u2019re refining molar margins. The next, you\u2019re comparing flooring quotes and wondering if your air compressor should cost more than [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":40860,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[22152],"tags":[9415],"class_list":{"0":"post-40859","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-practice-startup","8":"tag-credabl"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The diary of a first-time practice owner: - Bite Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bitemagazine.com.au\/the-diary-of-a-first-time-practice-owner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The diary of a first-time practice owner:\" \/>\n<meta property=\"og:description\" content=\"This article is sponsored content brought to you by Credabl. 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