3 Skills Every Dentist Needs To Build a Thriving Dental Practice

What would it feel like to build a thriving dental practice that runs so smoothly you can make more money than you ever have while working less than you ever have?

What would it mean to you and your family to know your income is predictable and controllable, in good markets and bad?

All of that's possible, but before you can build a practice like that, you'll need to develop three essential skills.

 

With these three skills, you'll have all the skills you need to grow a thriving dental practice:

1. Top-quality dental skills

Patients expect their dentists to take great care of their teeth. As basic as it sounds, if you don't do good work, news will spread and you'll struggle to get new patients. This can't be overlooked. Everyone who serves patients needs to be very good at what they do.

2. Business Skills

Without basic business skills, you'll struggle to do what it takes to make more money in less time. To avoid that, it's important that you develop basic business skills that include delegation, leveraging resources, hiring, evaluating, and firing team members, patient relations, profitability analysis, sales and marketing, reading basic financial statements, and strategic planning.

There's no need to go back to school to get a formal business degree, but I do suggest you read at least one new business book right away and then at least another new business book every year, even if it's an audiobook you listen to on your commute.

I also suggest you subscribe to at least one relevant business podcast, network with successful practice owners online or in person, hire an executive coach to help you and hold you accountable, or find a mentor who's willing to share their knowledge and advice with you.

3. Leadership Skills

You can't have a strong team without a strong leader. Leadership skills are critical to scaling your practice because you can have the most sophisticated systems and processes in place, but your dental practice will only be as strong as the team implementing them. To build a strong, trustworthy team and then empower them to work independently, you'll need to learn how to listen and communicate effectively, influence, motivate, and encourage others, make wise decisions, and work in teams.

 Developing these leadership skills will help you get the best out of your team and build the trust necessary for you to empower them to run your practice without you needing to do everything. As with business skills, I suggest you continuously work on improving your leadership skills no matter how strong a leader you already are. The best leaders in the world consistently work on improving their leadership skills. You should too.

 Again, you don't need a formal degree, however I do suggest you read at least one new leadership book every year, subscribe to at least one leadership podcast, attend leadership conferences, network with strong leaders online or in person, hire an executive coach to help you and hold you accountable, or find a mentor who has strong leadership skills and is willing to share their knowledge and guidance.

 

Developing these three skills will position you to build a profitable dental practice doesn't doesn't need you to do everything in order to make money.

 Your dental skills will serve your clients well. Your business skills with help you plan and execute well. And your leadership skills will empower your team to operate without you so you can build a practice that helps you make more and work less!

How to Accomplish BIG Goals in LESS time with Dr. Anissa Holmes

This episode is a transformational episode.

In this Episode, I discuss the mindset needed to get ready for BIG things to happen in your practice and your life.

I discuss how I was able to build a mega-profitable dental practice that has raving fans, and at the same time have time to travel the world and spend time with my family.

I spoke about designing my practice's vision and reverse engineering how we would achieve the practice's goals.

I spoke about the slices of life, and the importance of scheduling in time to focus on what matters most.

We then get into the details of how to achieve your practice's goals in record time and the 2 things needed to fast-track your results.

Links In the Episode

This interview is from the upcoming Time Freedom Online Summit Taking Place January 16-27.

Register for the FREE Goal Setting Workshop

Learn More About the Delivering WOW U

Host Beneficiaries: The Secret Weapon That I Used to Increase Revenue by 28% in One Month!

Many dentists think that you need to spend a lot on marketing. In fact, I hear so many dentists and entrepreneurs in general say that you have to spend money to make money. However, there are some times when that rule does not apply. And quite frankly, these are the rules that I want to play by. This one strategy that I will lay out for you has allowed me to build partnerships with top companies in my community, reach out to my ideal patients, and become 28% more profitable. This one marketing strategy that I discovered a while back that has helped me to boost my brand is the Host/Beneficiary arrangement.

The Host/Beneficiary arrangement is an advanced marketing strategy where your company teams up with a more established or bigger business in your area that serves an audience that is similar to your own.

The basic way it works is this: You offer a free or deeply discounted offer to customers of the larger organization. The larger organization (the host) shares this offer with its customers. You (the beneficiary) get the implied endorsement of the host.

In the business world how this works is that you research companies in your area that have customers who would also be ideal customers to your business. You approach the company and create a great free (or discounted) offer that you would like for them to share with its customers.  

If the company likes your quality and finds the offer useful, there is a good chance it will agree to the arrangement. So why would this bigger company agree to promote your company? Because it’s a no-cost way to provide something of value to its customers. The host company doesn’t have to pay for the perk you give. You offer it at no cost to the organization.

I decided to apply this advanced strategy to my dental practice, and instead of offering a perk or promotion to its customers, I offered it to their teams.

This is how it looked in my practice: We created an email that included an offer of 50 percent off dental cleanings and shared it with the biggest bank in the country. The email stated that because we both believe in building communities and building strong teams, we have decided to create this partnership. The employees were free to use their insurance and share the offer with their friends and family. The offer was for a limited time of one month. Well, needless to say, we were wowed.

That month we had over 250 new patients and our revenue shot up 28% from the previous month. We had to hire an additional hygienist because of the rapid growth!

We attribute the success of this campaign to the great offer as well as to the fact that it was shared by the team's company. Incidentally, even though we offered a promotional price, more than 50 percent of the patients added on additional same day services such as adult sealants, fluoride and fillings and scheduled for future treatment. 

Because of our culture of Delivering WOW, after receiving unexpected bonuses such as a complimentary arm and hand massage, a full office tour, and an iPad and headphones to take away the sound, they became raving fans.  

Because of the success of this campaign, we now create host/beneficiaries for cleanings with one large and one small company every month. We also offer it to the team of the charity that we are supporting that month. 

So perhaps your next question is how do I set up these host/beneficiaries? Well, sometimes it's all about the relationships. The easiest way to “get through” is to ask a patient who works at the company to make the connection. Or you can “cold call”, but you might not get 100 percent agreeing to the partnership. However, even if the acceptance rate is 20%, that is quite fine as there are limitless options of companies that can be contacted. I would suggest making the offer for them to share with their team vs. their customers, as they will look like a winner to their employees. And remember this is a task that can be delegated. 

This strategy speaks to what is a new patient worth. You see, it didn't cost more than an email to create and market the campaign. It cost us a little chair time and some prophy paste. But the value of that campaign will last a lifetime! 

Click below to receive a Free Guide which shares the exact email that we send to companies:

What's Next?

Join the Delivering WOW Dental Hangout, my FREE Facebook Group to Join Other Dentists Are Getting Results by Taking Action! On the inside you will get direct access to Dr. Holmes as well as past podcast guests to help you scale up and get results!

Click Here to Join Now!

How to Achieve Your #1 Goal in 100 Days with John Lee Dumas

Every year I kick off the New Year saying this will be the best year ever. And guess what, it always is. The #1 reason why I'm so confident is that I plan for success. I set goals! I am so thrilled that you have decided to follow my podcast. I am committed to bringing high-quality guests: Top Experts in Dentistry and Non- Dental Entrepreneurs. This podcast will always deliver!

I'm going to kick off 2016 with a topic which can change not only your path of success but also your life, I’m going to kick off the new year with some advice from John Lee Dumas.  After hosting over 1200 interviews on his award-winning podcast EOFire with successful entrepreneurs, John is definitely an authority on what it takes to achieve business success.

In this Episode, John and I discuss the importance of setting goals. John shares his story of success, including what makes his podcast unique, which system has helped him to focus on what matters most, and how he built his massive brand.  John also shares his passion project. It’s called the Freedom Journal: Accomplish Your Goals in 100 Days. It’s a hardbound, 300-page physical book that walks you step by step through the process of not only setting a goal but accomplishing it within 100 days.

The #1 Reason Entrepreneurs Succeed?
They SET and ACCOMPLISH Goals.

The Freedom Journal is YOUR accountability partner and will guide you through the process of setting and accomplishing your #1 goal in 100 days.

The Freedom Journal will:

  • Guide you through establishing a SMART goalS – Specific
    M – Measurable
    A – Attainable
    R – Relevant
    T – Timely
  • Hold you accountable for 100 days with…Daily – Affirmations, quotes, tasks, and resources;
    Sprints – 10 day sprints to accomplish mini-goals;
    Quarterly Review – Check status every 25 days.
  • Help you establish & maintain a goal-oriented mindsetEntrepreneurs fail because they don't have someone to check in with them – to help hold them accountable to doing what they say they'll do.Now you do.

    Let The Freedom Journal guide you on your journey to success. Let The Freedom Journal guide you on your journey to success. And everytime a funding goal is met, Pencils of Promise will get a donation of $25,000 to build a school in a developing country.

    Ready to accomplish your goal in 100 days? 

 

Links mentioned in this episode:

John Lee Dumas

Entrepreneur On Fire

The Freedom Journal

How To Get the Best ROI From Your TEAM

For many dentists, labor costs are one of the biggest expenses incurred. However, it's interesting how many dentists don't work to turn their employees into a profitable return on investment. If the dentist is not a strong leader, who is committed to building a great team and setting a clear path to achieving the vision of the practice, profits are escaping every day.  To turn your team into an investment, you've got to be a great leader who can build a team that is committed to helping the practice grow, knows what to do, and performs.

Strong leaders have an ability to inspire others, to build other leaders. They are able to paint a picture of how big the possibilities are for reaching massive goals, and enlist their employees to help them exceed them. Strong leaders give clear directions of their expectations and ensure that their employees know what to do. They are not afraid to have uncomfortable conversations, or to speak up when an employee is not performing. They inspire action.

To be a better leader for your team, share your goals and your vision. Make sure that your team knows what they, as well as you, are working for. Make sure that they understand that through your practice, everyone can achieve their personal dreams. If the business is profitable, everyone wins. A profitable practice means that EVERYONE is doing something right. It means that you have an office culture that is different and unique. It means that you have great systems for consistency. It means that you have a great brand. This level of success can not be achieved with you alone. You need your team. A team which can overdeliver and wow.  

Some dentists know that there are people who are not a great culture fit for their practice, but they keep them. They are too afraid to speak up. As a result, their practice will never reach its maximum potential and other employees don't see them as strong leaders. 

That being said, once you have your dream team, invest in their success. Carve out time for weekly lunch and learn/ practice growth sessions, provide your team with kindles and purchase books for them for their personal development. Reward them with awesome team building activities off site, and reward them with bonuses from profits!

Team members need to know that they are there to perform specific tasks to help the business grow. They are not there to hang out for the day and collect a paycheck. They need to know that if you wanted to or were able to perform their tasks, you could keep their wage and do it yourself. However, for any business to grow, it must leverage employees to scale up and accomplish more. Dentists must ensure that their team has specific directions of which tasks they must perform, and they must be held accountable. Take the time to have your best team members create manuals for their positions so future new hires have checklists of all of what they must do. These manuals should include photos of setups for operatories and trays, links to training videos that they must watch in your practice management software, and scripts of how common questions should be answered.

What this team looks like is one which brainstorms on growth strategies. This team prevents waste and negotiates with suppliers to get the best cost. This team is an advocate for the practice and helps to bring in new patients while they are out in the community. This team, in turn, is not an expense, but an investment.  

Invest in being a better leader and in giving your team the tools to soar, and they will return massive dividends!

 

Dr. Anissa Holmes, a Global leader in Social Media Marketing, and owner of Jamaica Cosmetic Dental Services, helps dentists and small business owners receive massive growth through developing their culture, systems and brand.

Dr. Holmes, through her podcast, The Delivering WOW Dental Podcast and her book Delivering WOW- How Dentists Can Build a Fascinating Brand And Achieve More While Working Less, shares tips for designing a unique business culture to deliver a “Wow” experience every time, strategies to triple leads and new customers as well as strategies to build an amazing team.