5 Biggest Practice Mistakes
Tim Norris, MBA, SPHR, SHRM-SCP, CHBC
Vice President & Managing Partner
Did you know that there are five huge mistakes that many dental practice owners make in running a practice? One of them is hiring the wrong team members. Have you ever heard the old but very true adage that employers hire their own problems. Hiring the best individuals possible and then treating them well will be a key factor in your practice’s success. Failing to develop high performance teams. Not everyone who may be extremely knowledgeable clinically or have years of experience should be on your team. But once you hire the best individuals you can, your work as a manager really begins.
In order to fully engage your staff and develop the high performance team that your practice needs, never achieving and measuring results… Why fly in the dark when you don’t have to?
Never assume that things are going well or that the numbers must look good even though you haven’t seen recent financial or practice performance reports. Important factors directly contributing to your practice’s short and long term success can get out of hand very quickly. Failing to plan strategically, statistics have shown that businesses that have no time to plan strategically, that are too deep in crisis to plan, or that simply do not choose to plan, almost without exception, find themselves in trouble financially. Not knowing what they don’t know, many dentists, even those who have been at practice for years, come to work each day with great clinical skills, but no knowledge of how to effectively run a successful business.
There is no need to try to go it alone and look back with regret on poorly made decisions or sleepless nights that were totally unnecessary. The Dental CFO team is here to help you avoid these major mistakes and achieve the level of success that you’re dreaming of. Our team has expert advisors in the key areas that are needed for your practice’s success. Strategic planning. Personal financial planning. Regulatory requirements. Employee benefits, among others.
The Dental CFO team is ready to help ensure that your practice is on track to reach its maximum potential. Call us at the number below to discuss your needs and see if The Dental CFO is right for you.