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Building a PROFITABLE Practice from the Ground Up Michael Badger, DDS, FAGD, DICOI.

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Presentation on theme: "Building a PROFITABLE Practice from the Ground Up Michael Badger, DDS, FAGD, DICOI."— Presentation transcript:

1 Building a PROFITABLE Practice from the Ground Up Michael Badger, DDS, FAGD, DICOI

2 @ASDAnet #ASDAnet Show of Hands Who would like to someday build their own office?

3 @ASDAnet #ASDAnet Student Loans Uncertainty Inexperience Building a Team Generating Patients Lack of Capital Location Flexibility Maintenance Costs Eventual Retirement Running a Business

4 @ASDAnet #ASDAnet From This To This

5 @ASDAnet #ASDAnet Site Selection Competition Population Growth Retail Surroundings Visibility and Access Factors to consider when selecting a site:

6 @ASDAnet #ASDAnet Competition Difficult to motivate patients to switch from established dentist Resources available to find dentist to population ratio

7 @ASDAnet #ASDAnet Population Growth New people to an area will need to find a local dentist! Resources available to find population growth

8 @ASDAnet #ASDAnet Retail Surroundings Driving traffic Convenient for patients

9 @ASDAnet #ASDAnet Visibility and Access Easily accessible for patients Increases brand awareness through repeated exposure

10 @ASDAnet #ASDAnet Under Construction Inside the Ideal Office Sizing & Leasing Factors to consider when selecting a site:

11 @ASDAnet #ASDAnet Sizing & Leasing Sizing for efficiency Learn to lease

12 @ASDAnet #ASDAnet Inside the Ideal Office Patient Friendly, Team Oriented New, NEEDED Technology Staffing

13 @ASDAnet #ASDAnet Building Your Team Trust Your Gut Think Outside of the Box Meet Your Schools Keep these tips in mind when hiring your team:

14 @ASDAnet #ASDAnet Trust Your Gut Your team becomes your family You can train! Be yourself in the interviews

15 @ASDAnet #ASDAnet Think Outside of the Box For non-clinical positions, be creative! Ever have great customer service? Have your pitch handy

16 @ASDAnet #ASDAnet Meet Your Schools Always looking for great doctors to partner with for externships Develop key relationships to generate employee referrals

17 @ASDAnet #ASDAnet Marketing Pre-Opening Timing Where to Mail and Who to? Incentives Other Patient Generators How to fill your schedule prior to opening

18 @ASDAnet #ASDAnet Pre-Opening Timing Industry show rates decline if a patient is scheduled more than two weeks out Mailing multiple times to the same household will increase brand recognition and top of mind awareness

19 @ASDAnet #ASDAnet Where to Mail and Who to? Mail to a drive time instead of a mile radius Tailor marketing pieces to area demographics Resource:

20 @ASDAnet #ASDAnet Incentives Cover all patient bases Cover all internal bases

21 @ASDAnet #ASDAnet Other Patient Generators Google Adwords Dentists Community Relations Food Drives Joining the Chamber and holding a ribbon cutting Charitable Events + +

22 @ASDAnet #ASDAnet Alternatives to Building Associateship Purchase an Existing Office Join a DSO and Work in a Brand New Office

23 @ASDAnet #ASDAnet Questions?


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