Anyone who has been reading my material knows that I am skeptical about the odds of success in setting up a high end practice with high fees, fee for service paid up front doing major cosmetic cases all day long.
Sure, if you can pull it off, it will be great. And some people have. However most can’t. Even with extensive training. And I think Bill misleads people into thinking that they can all be cosmetic gurus and not everyone can.
To pull it off you need to be top 5% clinical skills, top 5% selling skills, and top 5% management skills to set up and operate at a high level like that. And you probably have to be in a top 5% demographic market as well. You also have to take a big risk to even try. You need set up an expensive high end office which is also in the high rent district.
We can’t all be going for the local celebrities and wealthy because there aren’t that many around, and they all have a dentist already and will usually be reluctant to change.
I have always advocated having the skills to do the big cases when they come along, but also having an office that appeals to that huge 80% of the market that simply wants good quality dentistry at a reasonable cost with a convenient location and good hours.
I think last year’s recession has also highlighted the risk of going after a market based solely on elective treatment.
Last year during the recession all those people with cavities, periodontal disease and toothaches did not go away.
I hate quoting numbers all the time because it sounds like bragging. But I need to prove my point. For example last year, we added $1,000,000 in collections and ended the year with 3 record months all beating the one before in the worst recession since the dirty 30’s.
When I started this newsletter 3 years ago we were at $6 million a year and now exceed 8.
I am busy setting goals now to beat last year’s performance and I hope you are too.
This is a great time to revisit what worked last year and what didn’t.
Dental Management is all about bottom line success and that is my game.
I have taught hundreds of dentists my secrets through my dental management programs and now I take one dental consulting client a month as well.
If you want to learn how to improve your practice while spending less time in the office (I was away a week in November and a week in December when we had those record months), check out my Dental Management Programs.
Make a worthwhile goal this year to get your practice into a great place. I’d love to help if I can.
PS; The Dental Cruise is sold out, but we are starting a waiting list in case space on the ship becomes available. Let me know if you want to be put on that list.
#30 1221 Canyon Meadows Dr.
SE Calgary, AB T2J 6G2
Phone: (403) 984-0114
40837 N 97 Street
Scottsdale, AZ 85262
Phone: (480) 840-7323