Earl Nightingale once famously said, “Success is the progressive realization of a worthy ideal.” Notice that this mentions nothing about money. Success can be defined many ways. It depends upon what your “worthy ideal” ends up being. If it’s money, be specific as to the amount and the deadline you set for yourself. If it’s something else, like people helped, then also be specific about the number of people and what defines “being helped.” This could include teeth cleaned, cavities filled and more. How you define success is entirely up to you.
Once you have a practice, growing your dental business will depend on three key factors.
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What you have the greatest capacity to do. This would be your top skills which you use with great efficiency.
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What you make the most money doing. This would be your greatest areas of profit.
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What you love doing that you’re good at. This would be the thing that gets you out of bed in the morning and keeps life interesting for you.
Write down a list of everything that fits each of these three factors. This is your starting point against which you measure all of the tips below.
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Perhaps the most important single thing you can do toward having a successful dental practice, after getting a good education, is acquiring a wise and knowledgeable mentor or two. Mentors can give you answers to some of your most annoying problems. They’ve been there and likely have already found the best possible solutions.
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Any field is always changing and dentistry is no exception. You need to continue with your education. You need to stay up with the latest techniques, technology and wisdom the field as a whole has to offer. This will ensure that you stay competitive on at least on the practice and procedures side of things. But to take full advantage, you must educate yourself beyond the field of dentistry. Consider taking courses in business. You might even want to get a Masters in Business Administration from your local college or university. When you’re done with that, consider learning more about marketing. The more you know, the easier it all becomes.
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Reach out to your community. Educate parents about how they can ease their children into good dental hygiene and care. Offer Welcome Kits that train parents what to do and say before their one-year-old has their first visit. Consider talking at local schools and make such outreach memorable in a way that paints your practice in a positive light.
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Have the most flexible financing options. Allow your patients to pay by credit card, debit, check and cash. Let them make payments. Put their dental health ahead of your own financial needs. This might hit a few bumps along the way, but most patients will remember you in a favorable light, and this could help build customer loyalty. Also, survey your neighborhood and see what kind of insurance most of your potential customers have. The more insurance carriers you can handle, the more convenient you will seem to your customers.
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Referrals are an awesome way to build your business. Obviously, everyone has their own life to live and building your business is not one of their priorities. So, every visit should include handing out a referral card. Most might get tossed. But occasionally, that one action will generate several hundred dollars worth of new business. When you send out mailings, include a referral card or two. Also, have a website built so people can find out more about your dental practice. A web presence makes it easier for others to make referrals.
References:
Luginbill, John. (ND). “Six Steps To Grow Your Practice Quickly.” Retrieved on 2/19/2017 from http://dentistryiq.com/articles/2011/12/six-steps-to-grow-your-practice-quickly.html
Nightingale, Earl. (1956). “The Strangest Secret.” Columbia Records, New York, NY.
PatientNews.com. (ND). “8 Tips for Running a Successful Dental Practice.” Retrieved on 2/19/2017 from http://patientnews.com/article/8-tips-running-successful-dental-practice
