It might seem absurd for a seemingly successful doctor to be labeled a dental hobbyist. You might even consider it downright insulting. But if you discover this doctor has no path, no carefully thought out plan to generate profit to keep and not give away to others, then you might think,
“This dentist needs to get it together!”
All too often we see owner-doctors toiling away to cover their practice’s expenses— some are ahead, some are breaking even, and we’ve even heard from some who’ve had to borrow tens of thousands of dollars to cover payroll.
This is not normal...
Did you know the average dentist has somehow been duped into thinking that sending 70%-95%+ of their efforts out the door in the form of overhead is “normal”?
It is not. Spending around 80% of your life to enrich OTHERS is not normal.
If you’re not managing your practice using a blueprint or path for growing your profits, you are working to make others wealthy. This is not a comfortable place to be— And it’s not one your team should rally behind either.
What is a dentist to do?
If you’re not sure where to start, let’s first rethink what we think about profit. If you’ve ever come across financial talking heads, you’ve most likely heard them say, “Pay yourself first and then pay others.” It seems like a reasonable concept— but again, the vast majority of dentists send a good chunk of their hard-earned money out the door before they take care of themselves.
It’s not selfish putting profit before overhead. It’s good business that will see you on your way to becoming an elite dentist.
But profit shouldn’t be your main goal. Rather, profit should be the result of the great services and experience you provide your patients. This of course includes dental work, but it should also include patient interaction with your associates and front-end managers.
When you operate with the strategy that places profit as the byproduct of doing other things well, then it becomes more clear exactly what you should be focusing on. And doing things well comes with having the right systems.
Let the systems do the work for you.
Now that you’re on board with paying yourself first and placing focus on doing what you do best, what’s next?
We’re glad you asked. The next step in keeping more profit from your hard work is to install systems that generate measurable results. These include marketing systems, technology systems, scheduling systems, hiring systems and more.
You might be thinking that we’re asking you to spend more time installing all these data collecting programs and then find even more time to review all the insights. That’s where SmartBox’s experience and expertise in the industry jumps into action.
We know that each practice has its own unique situation, so there isn’t a universal solution you can plug in and go— otherwise every dentist would be doing it. We tailor your systems to work for you, and we actually do all the set-up and monitoring so we can adjust and make improvements in near real-time.
Wouldn’t it be great to generate higher profits you actually keep for yourself? Hold overhead at a predictable threshold so there are no surprises from one month to the next? Put your systems on auto-pilot so you can take care of your patients and practice?
How much longer will you send your money out the door? It’s time to move yourself to the head of the line and collect the profit YOU have generated.
SmartBox employs the best minds in dentistry to help you grow your practice. Our Practice Growth System™ is proven to help dentists in every market area across the country achieve predictable year-over-year growth.