Why Do You Have A Dental Practice?

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Patient Attraction Episode 1169

Dentists who own their practices are different from dentists who don’t. That’s pretty much a “doh!” conclusion, but it bears thinking about. Why do you own your business with all of the headaches that come with ownership rather than working for someone else? After all, associate dentists can make a very good living and provide well for themselves and their families. After the break, I’ll discuss the implications of dental practice ownership and how to make sure that your goals align with your marketing. Stay tuned.

– Thanks for watching the Patient Attraction Podcast™.

– I’m Colin Receveur, CEO of SmartBox.

– I’m a business owner, so I like to think that I get what drives other business owners.

– After meeting with thousands of dentists who own their practices, I think I can break their motivations down into 5 categories.

– See how many of these apply to you, but remember that these are broad strokes and may not fit you exactly.

– Still, I think you’ll see yourself in here somewhere.

– Number 1: Being in charge.

– In-charge dentists like to call their own shots and make their own decisions.

– They’re not overly good at following someone else’s lead unless it’s from a specialist in a particular aspect of business who they hired and trust.

– They like the idea of succeeding thanks to just their own merit as dentists and businesspeople.

– Number 2: They’re perfectionists.

– Perfectionist dentists have high standards that they refuse to compromise.

– They own their businesses because they can make sure that everything is done exactly the way it should be.

– Perfectionists aren’t always the easiest people to work for, but there’s no doubt that they provide high-quality care.

– In fact, I see this motive most often among dentists who love everything about dentistry.

– They aren’t just going through the motions, no matter how long they’ve been in practice.

– Number 3: They’re altruistic people who care about making an impact on their communities.

– It’s true that dentistry is one of the most sought-after professions due to earning potential and working conditions.

– Some dentists are on a mission to improve the oral health and the lives of the people in their communities.

– I see that more often among dentists who open their practices in the towns where they grew up.

– But even dentists who relocate to other towns can adopt the community as their own and focus on improving lives.

– Number 4: They want to push the boundaries of dentistry.

– I don’t meet a high percentage of dentists who fall into this category.

– Most often, they’re creative types who delight in complex procedures, including cosmetic dentistry and full-mouth reconstruction.

– They’re constantly looking for better ways to improve smiles and the healthy functioning of people’s mouths.

– Owning their practices gives them the freedom to pursue creative solutions.

– And number 5: They want to make a lot of money and retire well.

– This one is probably true of all dentists, but particularly so among practice owners.

– Owners have the freedom to set rates and to implement best practices, including fiscal management.

– Owners can decide which dental patients to market to, and how.

– Now, probably every dentist practice owner has at least 2 of these motivations, but that’s not the point.

– No matter why you own your practice, are the patients you’re getting going to allow you to accomplish your goals?

– Do you feel in control when insurance companies deny or second-guess treatment?

– Do things get done to your standards when patients will only pay for the cheapest option?

– Do the patients you’re getting give you the resources to give back the way you’d like?

– Do you get enough patients who want and will pay for your cutting-edge techniques?

– Do you make enough money while still having time away from the practice for living?

– If the answer to any of these questions is no, you need better patients.

– And that’s what SmartBox helps dentists get – better patients with the ability and willingness to pay more for the right dentist.

– Make your dental practice everything it can be.

– Visit smartboxdental.com and reserve your no-cost, no-obligation Practice Discovery Session™.

– After the session, you’ll receive your free Patient Attraction Roadmap™ as well.

– We’ll show you how SmartBox provides a steady stream of new patients so you can focus on doing what’s important to you – no matter why you own your practice.

– Join me for our next podcast.

– Until then, keep moving forward.