Is the Value of your Practice Enough for Retirement?
Dental practices are the business entity many dentists have invested their time, talent and treasure to for an entire career. Some were initially a start up or a purchase years ago that the nurtured and grew into their income producing, patient caring work environment. As dentists approach retirement they often are expecting the value of…
Considering a transition change in your relationship-based practice?
As dental practices grow and change, new seasons bring opportunity and security for both sides of a transaction. Charting a new path can be stressful and uncertain as many practitioners have not weathered a transition in years. Young dentists are often seeking that opportunity for the first time and experienced doctors often bought a practice…
Top 10 ways to grow your practice and retire early
Avoid excessive bad debt: Being debt free is everyone’s goal, but since most dentists have debt at some point, it is important to distinguish between “good” debt and “bad”. Good debt as opposed to bad debt would be debt assumed for an investment in an asset that will yield a return on the investment that…
Selecting Phase II as your transition consulting team!
Why should a transition consultant be your first contact to prepare your practice for change? Typically, as dentists prepare for retirement they begin to schedule fewer or shorter clinical days combined with additional vacation. In short, they begin to let their lifestyle lead their practice management. The time to sell or expand your practice is…
Transitioning Your Relationship-Based Practice: Part 2
Navigating the Best Transition For Your Dental Practice Legacy Complementary technical skills to properly care for a patient base are essential. Behavioral considerations like interpersonal skills and communication are part of the success of a relationship-based practice. Timing and financial considerations play a large role in buyers identifying their opportunity as well. Working with a…
Engineering your Practice Success
Engineering is defined as the application of science and math to design and solve complex problems. I prefer the definition of engineering as artfully working to bring something about. This sounds like today’s dental models that intentionally apply math (business), science (clinical science) and art as not only clinical dentistry but a leadership style creating…
Transitioning Your Relationship-Based Practice: Part 1
As dental practices grow and change, new seasons bring opportunity and security for both sides of a transaction. Charting a new path can be stressful and uncertain as many practitioners have not weathered a transition in years. Considering a Transition Change In Your Relationship-Based Practice? Young dentists are often seeking that opportunity for the first time. Experienced…
The Abundant Leader
“People with a scarcity mentality tend to see everything in terms of win-lose. There is only so much; and if someone else has it, that means there will be less for me. The more principle-centered we become, the more we develop an abundance mentality, the more we are genuinely happy for the successes, well-being, achievements, recognition, and good fortune of other people. We believe their success adds to...rather than detracts from...our lives.” - Stephen R. Covey
I believe that we, as practice owners, are missing the boat with regard to how we view our role as managers. We have somehow misinterpreted management to mean that we must oversee and direct the behavior of other people. But if we find it necessary to manage the actions of people in our organization who lack motivation and are incapable of productive behavior, we have failed miserably as leaders and managers.
Leadership: Strength through Vulnerability
“The deeper our faith, the more doubt we must endure; the deeper our hope, the more prone we are to despair; the deeper our love, the more pain its loss will bring: these are a few of the paradoxes we must hold as human beings. If we refuse to hold them in hopes of living without doubt, despair, and pain, we also find ourselves living without faith, hope, and love.” Parker Palmer—A Hidden Wholeness
Practice Management II
Why Lead? In Part One of this two-part series, Dr. Joel C. Small discussed the transformational nature of leadership in dentists’ professional lives. In Part Two, he discusses how leadership qualities can enhance their personal lives.
Practice Management I
Why Lead? Dr. Joel Small emphasizes the value of leadership in the dental office and explains how management styles and office “culture” influence productivity.