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The importance of planning
I’m going on vacation. Want to join me?
- Don’t know why, other than to “get away.”
- Don’t know where to go.
- Don’t know what we’ll do.
- Don’t know what I want to experience.
- Don’t know when to go.
- Don’t know for how long to be there.
- Don’t know how much it will cost.
- Don’t know how to go on this trip.
Come on, join me!
We would never go on a vacation and wing it. Even those that wing it have some sort of plan, By car, by plane, have some money, a way to pay for each step.
The point is, why do we wing it in business?
And then we ask people to go along. We pay them so they do. But since they don’t know most basic facts about the business journey they are not as engaged as they could be and each step seems like a struggle.
So… for business planning, think of it as a 10-year trip with 90-day, 180-day segments.
- Why are you doing this business? This is by far the most important question to answer. To “make money” is not acceptable… it’s too self-centered to be useful to others.
- Where do you want to take your business. Where are you going? This is your long term vision of the business.
- What will you become and be doing?
- What are the rules of the road you want to follow? The do’s and don’ts of your business journey.
- When do you want to start and what milestones to mark the progress?
- How long will you be doing each stage?
- What finances do you need to add people, add equipment, new properties, new processes.
Do yourself a favor and get your planning more crisp. Firm up the weak spots and then execute!
You are educated, experienced, and ready to set out and open your own dental practice. Congratulations! Or maybe, you’ve owned your practice for years and you’ve noticed business slowing or plateauing, or some organization or leadership issues are emerging. Either...
Late in 2020 we expect a hygiene gap, due to the Covid-19 shut downs. See the Dental Intel gaph in the post. You can avoid this hygiene appointment gap completely by …
What exactly does that mean, “Doing your job as a dental practice owner?”
Like any small business owner, the number one item is to be excellent at your craft. Especially for the owner when the company is small.
Being an excellent Clinician.
That is the foundation. Knowing your craft, hiring the best clinicians to work for you, having the best and latest technology, knowing the best techniques and practices.
And yet, there’s so much more as business owners who want to build value in their business.
The value maybe for retirement, a sale, a merger or any of a number of transitions a dental practice would go through. All requiring building value in the business and 2 other roles to adopt.
Don’t Settle For Less
As dental coaches and dental consultants, we are on a mission to turn every independent dental practice into a masterful business of teamwork, leadership, and process excellence. Turning an excellent job into a value-packed business for the owners and team members.
Dental Coaches optimize all 5 business engines
We work with dental practices to improve all 5 of the business engines that drive their practice.
- Organizational & Processes
- Teams & People
- Clinical & Technology
- Sales & Marketing.
We bring expertise and experience in the right areas to insure you get the improvements in your practice to achieve the goals you want, while working smarter and not harder.
Practice Management Specialist
We analyze the various engines in your practice. Then focus on what will be most effective to get the practice you want.
Key Business Strategist
We will help you spot and develop the right areas for growth. Whether you want to add new offices, new associates, expand your team or exit.
Our clients realize that developing leadership skills in themselves and their staff builds the foundation of engagement, production, collection, and achieving goals. We work with both doctors and the team to build an extraordinary practice.
Consult with the industry’s top Hygiene Mastery coaches in the country to optimize and tighten your hygiene department.
If there’s room to improve we will inform you. If not we will let you know. Either way you are in charge.
Hygiene Mastery breaks down the patient visits and finds where you are leaking cash.
Our Hygiene Mastery people are clincal experts (RDHs) and business process experts.
They live and breath optimizing Hygiene departments and processes every day.
Contact Shannon Richkowski
to learn more.
Merger, Acquisitions, Transitions
No matter where you are in your practice business lifecycle you will hit a transition point.
- Buy a new practice
- Acquisition of additional practices
- Joint Ventures
Each transition point will require planning and experts to help make it profitable for you.
Let’s talk about your plans.
Learn more in link below or contact
Phil Bride philbride@FortuneMGMT.com
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Invitation-only group of top dental doctors from around the country to participate in in building their practices.
They meet 2x a year with industry experts to share best practices, mastermind new approaches, solve issues faced.
Must be a Fortune Client who has completed the business and leadership training prior to participating.
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“Phil Bride has proven to be an invaluable business coach. Through Phil, I have learned better business practices in managing my business, and have been able to establish repeatable business processes.“
Denise B., President, Owner.