Five Investments To Revolutionize Your Dental Practice – Part 1

Dental Practice Management – Five Investments To Revolutionize Your Practice  - Part 1

It was 1995. I had been in practice almost a decade. The changes in dentistry seemed to be occurring faster than I could fathom; new technologies, new products, and new procedures boggled my mind. New types, brands, and flavors of composites were coming out before I could even use up what I had just got through buying. (And then there were the failures—oh, the failures!) Dental labs were introducing new restorations with promises that seemed to be too good to believe. (They were.) How was I to keep up with it all?

Worse, how was I going to help my patients choose between all of the options?

And to compound matters, how was I going to differentiate my practice from the one down the street? You know, the guy who decided to label himself as a “cosmetic dentist” and was heavily marketing to attract every “cosmetic case” in town? And not doing anything different than the procedures I really loved to do and knew so well?

Just how could I make my practice a practice of choice?

Well, here’s a list you might—no, I think seriously should—consider. Hopefully most of these will not surprise you, but if they do, it’s even better that you found this article! In an age in which we think the next new product or piece of equipment is going to bring us riches, think again. Surely you know of dentists who—with the best of intentions—thought that some new technology would put their practice “over the top,” but it didn’t. In the worst case scenario, it ended up in their reception area, a monument to modern technology, for all to view.

So roll up your sleeves, take some notes, and start investing in your practice in these crucial areas!

Top Investment #1: The Big One, YOU

When was the last time you did something to take really good care of yourself? When I work with clients, I often ask them to put together a list of ten daily habits that would support, nurture, or enhance their physical and emotional well-being. The truth is, most folks have trouble identifying even three things they can do to take good care of themselves. What’s wrong with THAT picture? How are we to be at our best if we are doing so little to take care of ourselves? How can we take care of others if we can’t take care of ourselves? So, I ask you: make a list of ten daily habits that can nurture and support who you are—and then do them.

And while we’re talking about investing in you, besides starting ten daily habits, what else are you doing to invest in yourself? Consider the following:

  • Taking more time off: I’ll bet that you can produce just as much in four days as in five, with proper scheduling and treatment planning. That extra day off each week will give you some additional time to do the things that you keep putting off, whether it’s in the office, at home, or for yourself. Also consider working six weeks and then taking one week off. For high-stress professions, this seems to be the optimal frequency for getting “recharged.” Another plan is to take two weeks off at once … no, your practice will not disappear, and you’ll get the benefit of really settling into being “off” when you do it two weeks at a time. Whatever choice you make, what I want you to get is that you are working too much.
  • Physical activity: You hate the gym, and then you beat yourself up for not going to the gym. Working out doesn’t have to include weight training and running. Try something new. Cycling is less damaging to your knees than running. Ballroom dancing will make you sweat more than you think AND probably make your partner happy. Yoga is soothing for the body and the spirit. Make it fun, make it interesting, and try a variety of activities. When you feel good, it’ll show in your work and your relationships.
  • Spiritual/emotional growth: Religion or no religion, Eastern or Western philosophies, self-help or professional help—all have something to offer your spiritual and emotional well-being. Include in one of your daily habits some form of connecting with your heart, your feelings, or a higher power. Putting a focus on your spiritual growth will make you a much more interesting person!

Top Investment #2: Put Together Your Best Team

I promise my team that like a football coach, I am always looking to put the best players on the field…and that’s not a threat, it’s a promise! Why would a coach want to play people who are under-performers?

The first area where I encourage dentists to change their ways in putting together their best team is to always, always, always be patient when hiring a new staff member. Too often we look past a detail or two that we know in our gut should have warranted more investigation before we hired the person. The real cost to a practice of interviewing, hiring, and training a staff member until they become a productive member of the team ranges from a low of $5,000 to more than $20,000, depending on the position. In this day of difficulty in finding people who want to work in dentistry, it’s a challenge to go without a staff member for very long, waiting for just the right person. In reality, that’s a much longer discussion (which we can have later). In the long run, it’s about developing a practice that attracts people to want to work for you.

And as far as NOT having the right team together at this moment, I would NOT encourage you to start firing folks who are under-performers. It’s best to work with the people you have, and grow and develop them to their highest capacity. Follow my two rules of hiring so you don’t get in a bind again: (1) Only hire those people whom you believe have the capacity to be a ‘10’ at their position, and (2) Only hire those people for whom you can be 100% committed to their success. If both conditions are met, you’re likely to have a keeper.

So, what if they’re under-performing despite your best efforts? First examine what you’ve been doing to support them. If, in your heart, you know that you’ve given it all you’ve got, then do them a favor and set them free! It’s likely they’re not feeling very good about their performance, either, and chances are they’re pretty unhappy. When you do let them go, take personal responsibility for things not working out. Obviously, don’t overlook state or federal laws as to firing employees. But I do want you to get that if an employee didn’t work out, you likely made a poor decision to hire them in the first place. By understanding that mindset, you’re less likely to hire someone to fill an empty slot in your practice so quickly, being more careful in the first place.

Next month in Part Two, we’ll look at my final Top Investments you can make in your practice. See you then!

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