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
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