The term Quantum Step has been borrowed from Physics to mean a sudden dramatic change in thought, deed or invention.
One of the quantum steps in the life of any dentist is becoming a Dental Business Owner.
How can you be ready for ownership and can you ever be truly prepared?
Part of the being ready is to accept that most days will bring different challenges, pose different questions and test you in ways that you hadn’t expected.
In terms of the preparations that you can make I recommend you focus on the following:
Consider what you want your business to be like in 5 years. What steps do you have to take to get there? What’s first? You’re in for the long term so play the long game.
Manage and Monitor the Money (£)
Cashflow is the most important element of any business, so ensure your systems show what your cash balances are today, will be tomorrow, next week and next month. Visit them routinely and never ignore them. Budgets are your ally.
Maintain and Grow Your Revenue
Get to grips with or devise a sales process for the business, ensure everyone knows how things are supposed to work. Make sure that your patients are always able to buy from you what they need.
Always be marketing. Never stop. Think Digital, Social Media, On Line and in print. Consider speaking engagements and becoming an expert on certain matters. Appoint someone in your business to take care of marketing or outsource it.
Arguably your greatest asset. Keep a professional distance between you and those who rely on your business for their income. Don’t gossip, reward them properly and be their leader.
Standard Operating Procedures (SOP)
Implement an SOP for everything from answering the ‘phone, to disinfection, and clinical procedures. By writing them down for all to see they will quickly become the manual of your business life. When something doesn’t work don’t be frightened to rip up that page and create another – your business, your decision.
Your Work Environment
You will spend many of your waking hours in the practice, make it an enjoyable place to visit, physically comfortable, welcoming and somewhere that others will wish they had built.
Maintain your Professional Development
Never stop learning. Look at other businesses in your own and other sectors. Keep up to date with technology and clinical developments. Always adapt and improve.
Look after your own wellbeing
Take time away from work with people you love. Eat properly, keep hydrated and be sure to get some exercise.
Author ; Alun Rees BDS (Dental Business Coach)