Dentaltown December 2020 - 95

In our next issue: 3 more
key areas to focus on
and develop for growth

*

such as reminding people to use their benefits
by year-end. These are especially profitable
marketing strategies because you're not having to
invest in new creative development.
Capture potential new patients who respond to a
campaign by having a team that's well-trained on
how to convert calls into booked appointments.
When not done efficiently and effectively, your
investment won't achieve the ROI it should (as
measured only in new patients), no matter how
many additional phone calls, website visits and
walk-ins are generated. In short, you will have
wasted marketing dollars on what could and
should have been a very profitable campaign.

In Part 2 of this series, Scheduling Institute founder Jay Geier
will discuss three more key areas that growth-minded dentists
must focus on to position their practice for greatness:
* Space and equipment: You can't grow your practice with
more new patients if you can't accommodate them. Learn the
importance of capacity, capital investment, and how to recognize
and calculate ROI, so you can make the best long-term decisions
about S&E.
* Clinical duplication: Don't be so egotistical as to think only you
can satisfy your patients. Position your business to earn even
when you're not there by using space to full revenue-generating
clinical capacity.
* Financial discipline: Don't fall victim to Parkinson's law, which
states expenses rise to meet income. Become knowledgeable
about and in control of money so you grow the business, increase
net income, and achieve the ultimate goal of increased net worth.
Look for the next installment in the January 2021 issue of Dentaltown magazine
and online at dentaltown.com.

Strong ties,
strong results
It's no accident that human capital and marketing
have been addressed in the same article because of the
strong linkage between them. Money spent to generate
more phone calls and website visits is wasted if your
team isn't trained to convert new-patient calls into
actual new-patient appointments. Moreover, if they
aren't trained to deliver a great experience when new
patients do come in for the first time, you may never
see them again. And without that steady stream of new
patients, your practice can't grow ... and a prospective
buyer will adjust their offer down (if they make an offer
at all), knowing they're facing a turnaround situation
of a stagnated business.
Whether you're going for maximum income and
profitability for yourself or maximum sale price, start
putting your attention, energy and investment into these
two key areas. You'll be amazed at the immediate and
positive return you'll get! ■

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Dentaltown December 2020

Table of Contents for the Digital Edition of Dentaltown December 2020
