About this episode

This episode discusses the critical lessons learned from a failed practice sale and the importance of understanding business valuation.

A practice sale that should have been the easiest transition imaginable ended before negotiations even began—and the lessons could save you from making the same costly mistake. In this episode, I shares the story of an anonymized internal succession plan that unraveled despite all the ingredients for success: a trusted associate, established patient relationships, and a seller committed to staying through the transition. So what went wrong? Using this real-world case study, I'll share the psychology of selling a practice, why valuations are opinions—not verdicts—and how misunderstanding business value can derail even the most promising transition. Along the way, I'll also tackle one of the most misunderstood metrics in business valuation—EBITDA—and explain why practice owners should be cautious about relying on it when estimating what their practice is worth. Have a podcast-related question? Contact our team here ! Resources: Berkshire YouTube clip: Every time you hear EBITDA, substitute it with "bull***" earnings Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out…

People in this episode

Host: Adam Cmejla

Topics covered

• practice sale
• business valuation
• EBITDA
• psychology of selling
• internal succession plan

Keywords

• practice sale
• business valuation
• EBITDA
• optometry
• succession planning

Mentioned in this episode

Organizations: Berkshire

Books & works: How to Buy an Optometry Practice

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