Rick B. on
Monday, May 12th, 2014
As with any type of medical profession, you put in many long years of hard work and study to become a dentist. The goal is to have your own thriving and successful practice. However, what you do “in the chair” doesn’t automatically equate to success. There are many theories about how to run a successful business that might not apply to a dental practice. Does this mean you need to go to business school? Not at all. You just need to be aware of the fluidity of your business and be flexible enough to make adjustments as you move forward. It might help to separate the facts of business success from the fiction.
What you learn here will change many mouths.
Image Source: Flickr user William Yeung
“The more information you have about running a practice, the stronger your practice will become.”
Part of every dental school curriculum is some aspect of running your practice. You were just given the basics. Once you graduate and hang up your shingle, you’ll be inundated with seminar invitations. There will be a never-ending list of workshops and conferences you can attend to “improve your practice.” Nothing wrong with gathering up that information. The key is implementing those tools. If you’re just going to constantly read newsletters and fly off to conferences, then your practice will never grow. You have to be proactive with the knowledge you bring home from each event.
Rick B. on
Friday, May 9th, 2014
What does your vision of retirement look like? Is it sitting on a beach with a Kindle loaded with all the books you’ve been itching to read? Is it taking a long cruise around the world? Or does it just mean sleeping in? On many levels, we begin every career with an eye towards retirement. In other words, we’re all working for the day when we can actually stop working. However, in the dentistry field, retirement is often hard to come by. According to a recent survey conducted by the ADA, upwards of 96% of dentists are finding it a challenge to retire to a high quality lifestyle. Do you fall into that 96%? It is never too early to start planning for your retirement. The goal is to be proactive about your choices, and a lot of that has to do with how you run your practice.
Is this your retirement vision? How close are you to achieving it?
Image Source: flickr user: Victoria White
Rick B. on
Thursday, May 8th, 2014
As the owner of a dental practice, you’ve got your hands full both literally and figuratively. An average patient load is more than enough to keep you working throughout the day. However, you’ve also got a staff that needs your support. While it’s true that a decent office manager should be able to keep things running smoothly, your dental staff will still be looking towards you to set the tone and provide leadership. In some cases, nerves can become frayed and the “ball is dropped” from time to time. Does that mean it is time to clean house? You should always strive to have the best people working for you, but that doesn’t mean your top-notch staff won’t face the occasional bout of burnout. When that happens, you might consider a company retreat to reboot, refresh, and realign your staff.
Dental staff working together.
Image Source: Flickr user U.S. Navy
Rick B. on
Monday, May 5th, 2014
Has your dental practice “hit the wall” when it comes to profitability? A successful dental practice that has been up and running for a few years might plateau when it comes to patients and the bottom line. Hopefully there will come a time when the question of expansion becomes relevant. You could opt to move into a bigger space and add an additional partner. You could even invest in a new practice and become an active consultant. Either way, you’ll be adding to your workload and level of responsibility. Are you ready to take the leap? Here are some factors to keep in mind to make sure your dental practice is ready for expansion…
Are you ready to expand to a new dental practice?
Image Source: Flickr user BazzaDaRambler