For years, dental restorations, oral surgery and cosmetic enhancements have filled your days. Now, you’re thinking about selling your dental practice. You’re ready to replace your explorers and radiographs with adventures and time in the sun. You’re not the only one, either. Research shows that an average of 5,100 dentist openings are expected to crop up every year between 2021 and 2031. This can be attributed to retirements or doctors transitioning to part-time work as they look for prospective buyers or partners. Before you begin the process of selling a dental practice, though, focus on increasing its valuation. Here’s a…
Posts Categorized:Management
In 2022, there are 178,867 dental businesses in the US. That means the competition is through the roof. If you aren’t managing your dental business properly, you will lose patients. Avoiding common dental practice management mistakes can save your business. It can also help retain existing patients and increase new ones. With that in mind, here are seven common pitfalls to avoid. 1. Neglecting a Superior Patient Experience Customers who had a negative experience with your dental clinic are less likely to return. The cost of replacing them is far greater than retaining existing patients. Here are five strategies to…
In his excellent book, On Writing: A Memoir of the Craft, Stephen King addresses the phenomenon of writer’s block. He says, “Amateurs sit and wait for inspiration, the rest of us just get up and go to work.” I agree. I’ve written thousands of pages of content, spread across ten published books, scores of special reports, articles and hundreds of marketing, management and leadership programs for dentists and orthodontists, several of which have been translated into at least five languages, that I know of. And, I can attest that a lot of it has typographical and grammatical errors. Some of it…
Before the 2021 Rose Bowl, Alabama Coach Nick Saban had quite an answer when ESPN’s Tom Rinaldi asked him for one thing he learned this disruptive year. “I’ve spent my whole life trying to keep everything in some kind of a controlled mechanism that I thought was going to lead to better performance, better production, more consistency, and this year, that hasn’t been possible,” he said. “There was a time, in my career as a coach, I would have never been able to tolerate some of the things we’ve had to go through. So that has made me better, I…
A few months ago, one of our private clients reached out with a human resources challenge. I swiftly recommended he call Sean Barnard, our trusted HR expert and certified professional in this area. Sean has decades of experience building, leading and managing high-performance teams and was a general manager tasked with generating $250 million in revenue each year for a tremendously-successful and highly-regulated casino. A task he surpassed brilliantly, year after year, until he retired. At his peak, Sean had over 1,600 employees. This is someone we can all learn from. Sean and I have become close friends over the years. He’s helped…
Gavin Pretor-Pinney, founder of one of my favorite magazines, The Idler, said, “To solve the right problems for your patients, customers, clients or donors, you just need to step outside and pay attention to what is so commonplace, so everyday, so mundane that everyone else misses it.” He’s right, but how can orthodontists pay better attention to what their competition misses? First, through clarity. Einstein said, “If I were given one hour to save the planet, I would spend 59 minutes defining the problem and one minute resolving it.” Wise words from an incredibly wise man, but most orthodontists fail to…
In his classic text, M.R. Kopmeyer teaches, “push your wheelbarrow upside down.” Walking through life with your wheelbarrow right side up allows anyone to dump their burdens, worries and issues into your wheelbarrow, making your load heavier to carry. When people see that there is a man going around collecting problems, they will easily add their problems to his load. Kopmeyer wasn’t teaching people to be indifferent to the burdens of others, but to be selective. Only by being selective can we be effective. You were not appointed Chief Problem Solver of the Universe. You are not even the President…
Today, Millennials spend 93.5 hours per month inside an app. Years ago, I made a bold claim that “those who are unable to control their attention will have it bought and sold by those who can.” Facebook has become one of the biggest media companies on the planet, selling billions of dollars of advertising to its user base each quarter. My prediction was correct, but it is not limited to technology companies and apps. There are new investments in old-school technology to help combat this unique time in history where no one seems to have control of their attention. Germany is spending…
In a large study of over 5,000 workers in Spain, the University of Madeira discovered that employer-provided training has the same effect on job satisfaction as a 17.7% net wage increase. I’ve been teaching for years that your employees don’t always want more money in order to increase their engagement and overall job satisfaction with your company. The ability to learn something new or achieve mastery of a skill they have already learned but have not yet perfected are both critical components to job satisfaction. Our surveys with top clients after in-office trainings and live seminar boot camps that we provide also…
If you observe the most productive and most successful people on the planet, you’ll notice three very important similarities in how they achieve results. It doesn’t matter if the person is an entrepreneur, doctor, lawyer, politician, religious leader, actor, teacher or any of a million different occupations. Those operating at the top 1-5% of their chosen field or profession have these three traits in common: First, they are intentional. You’ve heard me say, “Nothing really great ever happens by accident.” Warren Buffett, Bob Iger when he led Disney, Tim Cook at Apple, Michael Jordan, Judd Apatow, Sheryl Sandberg at Facebook…
