There are many ways to increase business income or business sales or business production.
All three terms mean the same thing…
They all mean REVENUE.
Revenue is the money our business needs to have that allows our business to pay the bills, and to pay ourselves as owners, and allows us as owners to invest in our business, and in our future.
Very early on in my journey as a business owner I learned from Jay Abraham that there were three ways for a business to increase revenue.
These three ways were:
- Increase the number of customers you have.
You can grow your revenue by selling the same products to more buyers.
Having a larger client base is an easy way to grow your revenue.
- Increase your fees or your prices.
When you increase your fees to all clients you immediately increase your revenue with minimal increase in expenses.
- Increase the amount of money each customer pays you.
This can be achieved by either:
- Selling each customer more things each time they buy from you
- Increasing the number of times that each customer transacts with you.
You can increase the number of times that each customer transacts with you by shortening the time interval between visits.
For example, a hairdresser may recommend a client comes every four weeks rather than every six weeks as there is less grey hair regrowth in four weeks and there is less cutting involved every four weeks.
In dentistry, patients that do not complete treatment that is necessary and diagnosed fall into the category of being a customer who should have had more transactions with our practice.
A lot of dental practices have a considerable number of patients who for whatever reason fail to have necessary diagnosed dental treatment completed.
A recent look at one of our clients’ practices saw that the amount of outstanding treatment that had been diagnosed and presented but not scheduled and completed in the past year, was almost as much as the amount of dentistry done on patients during that same period of time.
Statistically, what this meant was that this dental office was only finishing just over half of the dentistry it had diagnosed.
What this means is…
What this means is that if this office had been able to do half of that uncompleted dentistry, there was another six months’ worth of dentistry that could have been done, and that should have been done, but was not done.
And because all of that dentistry was not completed, this dental office needed to advertise and market and attract six months’ worth of patients just to substitute into their schedule for half of those patients that really should have been in there in the first place…
And if 100% of all of that dentistry had been completed, this dental office would not have needed to advertise and market and attract a whole years’ worth of patients to substitute into their schedule for each those patients that really should have been in there…
That’s a lot of additional unnecessary marketing [money, time, and effort] needing to be done.
And having more patients completing their diagnosed and necessary dental treatment is also a WIN for those patients, as it reduces their liability and risk of having something blow up inside their mouth at an inconvenient time…
Having members of the dental team learning and mastering better case presentation skills would have been more responsible than ignoring the fact that treatment was not being accepted, and would have been easier to do than all of that marketing, with all of that extra money, time, and effort spent…
Ask me about learning better case presentation skills. Email me: david.moffet@theUPE.com and put “WIN” in the subject line.
Need your phones monitored?
Are you concerned about the number of calls that are not being answered as best they can be?
You need Call Tracking Excellence.
For the cost of a less than one cleaning per week, you could have your phones being answered much much better….
Convert more calls into appointments…Click the link: http://www.calltrackingexcellence.com
Call Jayne on 1300 378 044 or email Jayne@theDPE.com for more details.
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 firstname.lastname@example.org