Investing time working “on” your practice is vital to growth.

22 Dec

It’s a well-known axiom in business that when the leader works “on” the business rather than “in” the business, that business is more successful. However, in a dental practice, where the basis for the value is the work performed by the dentist, it seems like this proviso does not apply.

 

But it does, you just have to modify your approach. Most dentists do not have formal business training.   They follow a model that has been passed down for a few modern generations; possibly incorporate a few innovations for running a practice more efficiently and then go about working in their practices. This establishes a ceiling for earning because it is tied to the time the owner/dentist can spend working. Over time, with so little time spent on developing the business of the practice, these dentists find their practices at risk. With reduced compensation from insurance companies and competition from well-organized corporate dentistry organizations, such a practice needs to change to be successful.

 

That is why it’s important to invest in you as the business owner.   Taking out a fraction of your time to learn better methods of operating the business side of your practice can make all the difference. For example, learning to focus on some key behaviors that make huge differences can be an excellent starting point.

 

To say that most dentists aren’t fond of selling and talking about money with the patient would be a gross understatement. Dentists never want to appear pushy or desperate or using any other ‘slick salesman-like’ technique.  They prefer others on the team to handle the selling and fee-quoting. But, what if you could learn how to present treatment and quote the fee with ease, no pressure, never pushy nor uncomfortable feelings and have amazing success because you, the dentist are the best one to do that?  It’s not hard.  In fact, it’s easier than they system you’re using right now.

 

It may not take a big time investment but being involved, as the leader in the business part of your practice will make you hands-on where it counts. With that minor change in attitude and attention, you can and will empower well-trained employees to be more successful. When you do that in the sales part of your practice, you begin to let your team build your future. And, you have only put a little bit of your time into working “on” your business.

 

Working with The Brady Group on concepts like this will help you be more hands-on with charting your financial independence.   We can help you with this and other important elements of managing your practice more successfully. If you are interested in learning more, call us today at  866-440-6704

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