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!