How to Build a Successful Dental Practice

How to Build a Successful Dental Practice

How to have your best year ever

It’s the type of headline that dominates our Social Media feeds at the beginning of January, just at the time of course when the reality of UDA’s kick in or that knot in your stomach that nearly went away over the festive period, decides to make an unwelcome return. 

We have now entered the final part of the first quarter of 2020 and for some this will be time to reflect on the success that you no doubt promised yourself at the beginning of January, along with that well intended New Year resolution. For some, perhaps things haven’t gone exactly to plan, and as the most grounded of our clients will tell me, sometimes you just have to accept that and move on. 

There are problems with the ‘have you best year’ thinking and it’s not that you shouldn’t set the intention, it’s that you may be looking in the wrong direction. Of course everybody starts to list the components of their best year with financial objectives and various numerical interpretations of what we all tend to think will make our business do well and make us feel happy. But is there more to it than that?

Both within and outside of dentistry there is an increasing recognition that a successful business has to perform financially but that it also has to to tick some other boxes too and many commentators are acknowledging that these, as well as money, are a true measure of success. Of course if your back is up against the wall at the moment,  and the creditors are piling up, then yes you should be paying attention to what is hurting you and your business the most, but remember that even short term cashflow issues can be a symptom of other bigger issues in any business. 

So, here is an exercise that points towards the thinking and the direction that the thoughts of the most aware and conscious business leaders have.

Do you ‘best year’ exercise again, but this time put yourself in some different seats. Imagine being sat at a boardroom table with the interests of other ’stakeholders’ in your business represented at each seat. Then, with that interest in mind take a note of what your ‘best year’ looks like from this new perspective and how different it may be. Sat in that seat, and representing those interests, what is the ‘best year’ that your business could provide. Here are few seats and interests to consider and expect some insights and fresh thinking;

  • Your patients
  • The local community 
  • Google
  • Your marketing agency
  • The environment
  • Your salaried team
  • Your self employed team
  • The families of either of your teams
  • Your suppliers 
  • Your referring dentists (where applicable)
  • The NHS
  • The health of our population 

 

We’ve tested this out with clients and members of Rose & Co. Unlimited and all have recognised that it provides a very different perspective upon the leadership and purpose of their businesses.

If leadership and leading your dental practice is a problem, we can help you. Rose & Co. Unlimited includes modules on leadership and five other essential ways of making your dental practice successful.