Working ON Your Business Part 2

Bulletproof Dental Practice Podcast Episode 37

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Key Takeaways:

• Listen to part 1 before proceeding!
• Operations manuals are created so you can focus on your highest and best use
• Silo 1 – Clinical systems
  • Create manuals for the various positions within the clinical team; dental assistant, hygienist, doctor, etc.
  • The manual should contain all processes and procedures – documented.
  • Include pictures, diagrams
• Running through a comprehensive checklist frees up the brain to focus on tasks at hand.
• Silo 2 – Business Operations
  • Create manuals for the various positions: front desk
  • Include processes for everything these team members do within the course of their day
• Silo 3 – Marketing
  • For mature practices, this silo is one of the most important silos in growing the business
  • Practice owners should know enough about marketing process to be able to have intelligent conversations with outsource vendors
  • You can have the most well-oiled systems-dependent practice in the world but if the growth is entirely predicated on word of mouth, be prepared for slow, linear growth
  • Topics within marketing you should be aware of:
    • Online reputation management
    • Website experience
    • Video production
    • Content creation
    • Paid ads on YouTube, Facebook, Instagram, etc.
    • Press releases
    • Social media
    • Magazine & print
  • If marketing isn’t your passion or best focus, try to outsource to someone within your team
  • Jeff Bezos said, “The balance of power is shifting toward consumers and away from companies. The right way to respond to this if you are a company is to put the vast majority of your energy, attention and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it.”
• Silo 4 – Metrics & KPI’s
  • This silo is important primarily so you know how well all your efforts are working
  • Lag measure – measures ultimate goal of what you’re trying to accomplish, but is always in the past
  • Lead measure – is predictive, and influenceable
  • Look at 5 growth metrics:
    • True growth of your patient base
    • # of patient visits
    • Dollar amount per patient visit
    • Collections
    • Overhead (variable costs like supplies, equipment, marketing, etc.)
  • Review your google analytics

Tweetables:

“Everything is marketing.” Fred Joyal