This week, a quotation from five years ago by my friend James Malinchak appeared as a memory on my Facebook wall.
“Always remember – you are NOT in business to run a business! You are in business as an entrepreneur to create FREEDOM for yourself!”
A very simple and yet powerful and relevant comment.
Over the years I’ve met dentists who as business owners have forgotten that this is their purpose.
What’s the point of being in business and owning a Dental Office if all that you’ve done is bought yourself a business that worries you sick for eighteen hours a day and seven days a week and barely provides you with enough money to support your family?
What’s the point of that?
You may as well go work as a dentist for someone else and have to worry only forty hours a week, and even then not have to worry or concern yourself with anything else than thoughts of your own about yourself.
You would not have to worry about paying the rent.
Nor would you have to worry about whether or not you were going to make payroll for the week…..
Seriously, if your business is not making you a profit that you can be squirrelling away to create freedom and lifestyle with, then ask yourself this:
Why are you creating all that negative energy and emotion just to break even?
Why are you putting yourself through all that?
Here is what I hear:
“My patients are different.”
“My area is different.”
I’ll let you in on a little secret….
No they are not.
Here’s a tip….
In all areas, twenty to twenty five percent of the population are happy to pay extra to receive better service and a better experience.
Our job is to find those twenty to twenty five percent of the population.
It makes sense that if we are going to be doing something, if we are going to be performing a duty or providing a service, then why not do that, why not provide that service to someone who will be appreciative of that service rather than someone who is not?
And be compensated and rewarded accordingly to do so?
When you apply this filter, this principle, to your Dental Business, to any business, certain things begin to happen.
Your business becomes less stressful.
It’s amazing how this works, but what happens is that “more of the same breeds more of the same.”
By this I mean that when you have your eye out for customers who are nice, who are willing to pay a little more to receive a little more, then a shift happens.
Your clients who are hagglers, your clients who apply their own personal pressures to you, in your business, these people start to self-sort and filter themselves away from your practice.
But they are replaced by customers who are looking for better service.
And so you are dealing with a better type of patron.
And that in itself is less stressful.
Your business becomes more profitable
This is simple math.
If you charge a little more, because you are providing a better product, you will make more profit for the same effort.
And even if you lose a small percentage of clients and are still only collecting the same total amount at the end of the week, your overhead will be less and your stress level will be less.
That’s a WIN-WIN.
Here’s what I found at my dental office in working class Western Sydney:
As we provided a better service, as we provided a better product and as we charged or billed accordingly, our collections increased and our bottom line profit rose.
And our stress levels were reduced, because we were serving a more appreciative clientele.
In an area where people worked in average jobs and earned average incomes and drove average cars and lived in average homes.
Those that wanted to be cared for in a pleasant environment based on care and respect and on gratitude were happy to come to a place where they were treated accordingly.
And were happy to pay a little more for the privilege.
If you deliver a good product and you treat people well and you charge accordingly, you will create a business that does create freedom for yourself and not shackles and leg-irons.
If I can do it then you can do it too.
If it has been done it can be done.
The choice is yours….
My next public speaking presentation showing Dentists how to grow their Dental practices will be in Melbourne Australia on Saturday 1 April 2017 with Jayne Bandy and Wolfgang Hofbauer.
For more information and to secure your seat click this link here.
Have you read my book , How To Build The Dental Practice of Your Dreams [Without Killing Yourself!] In Less Than Sixty Days.
You can order your copy here: Click Link To Order
The Ultimate Patient Experience is a simple to build complete Customer Service system in itself that I developed that allowed me to create an extraordinary dental office in an ordinary Sydney suburb. If you’d like to know more, ask me about my free special report.
Email me at email@example.com
Did you like this blog article? If you did then hit the share buttons below and share it with your friends and colleagues. Share it via email, Facebook and twitter!!