Probably not something you’ve given a lot of thought to, since you live and breathe it on a day-to-day basis, but what exactly is a dental practice?
A dental practice is a company that brings in $1.5m-$5m per year in annual revenue, and is often 1 location but maybe more, that is dependent on you, the dentist entrepreneur for both revenue and leadership. Quite simply, without you, the practice isn’t open – there’s no revenue coming in and there’s nobody leading the charge.
It’s hard to grow when you’re responsible for everything. You’re in the chair every week if not every day. You’re trying to manage your staff (and perhaps associates). You’re spearheading the systems and KPIs you have in place – if you have any. You’re dealing with finances – keeping track of daily revenue, perhaps trying to find cash for growth, etc., etc.