Going into business by yourself and taking control of your financial future is certainly an exciting time. There are so many opportunities out there to make it happen in the world of dentistry, but it’s getting the foundations right that is the most important thing.
Because every successful dental practice requires the same fundamentals to be taken care of, we’ve created a comprehensive list that covers everything you need to know. All you have to do now is work through it one step at a time.
Create a business plan
The business plan is where you outline your goals, your financial targets, and your mission as a business. It may well start off as nothing more than hopes and aspirations, but with hard work and clarity, it will turn into the guiding light for all of your future success. Over time, it will evolve to the point where it contains clear paths to financial success, budgeting strategies, and detailed analysis of how to position your practice in the local market.
Apply for funding
Startup grants, bank loans, and investments from friends, family, and former colleagues are all common ways to raise funds. You can pursue multiple options at the same time, but making sure that you spend the money in line with your business plan is key. If you find that you have excess funding left over, saving it so that you have something to fall back on should you need it is always the smart approach to take.
Location, location, location
With a plan and funding in your back pocket, you’re now ready to take a look at the ideal place to position your business. Looking for a location that is readily accessible, convenient, and prominent is the way to go here. Assessing and visiting multiple premises would be a wise move because it will show you what you can get for your budget. You can then weigh up the pros and cons of each location and make the right choice for your new practice.
Start hiring talented people
Dentists, hygienists, assistants, and clerical staff all need to be pulling in the same direction if you’re going to bring your vision to life. You may find that a blend of youth and experience helps because it will ensure that you get the right balance of energy, enthusiasm, and knowledge. Put everyone together, and you will be able to set the tone for a successful practice that is sure to go places in the months ahead.
Source premium equipment
If you’re taking on the role of Practice Manager, you will find that there is a wide array of different brands and equipment variations you have to get up to speed with. The secret is to connect with a national supplier, such as Kent Express. They will be able to guide you through your options. Having someone who has been there and done it will prove invaluable when you want to be able to get off to the kind of fast start that makes all the difference.
Register your business
Following all of the relevant regulations in the industry and registering with the Care Quality Commission (CQC) is essential. You want to make sure that you are fully compliant from day one, and speaking to a local solicitor will help you to guarantee compliance. They will be able to guide you through everything you need to do so that nothing is missed or overlooked.
Start marketing your practice
Marketing is the missing piece of the puzzle, and the one that will help you rapidly increase the size of your patient list so that you can really grow. Highlighting how you offer a professional, friendly, and reliable service is one way to go about things. You could also consider these marketing angles:
- Pitch your practice as family-friendly by offering family packages for parents who also move their kids over to you.
- Highlight how you can offer extended opening hours and flexible appointment times for busy professionals who may be heavily time-limited.
- Emphasise how you can also offer a full range of at-home dental care products so that you become the one-stop shop for everyone in the local area.
Working through these fundamentals in a focused and determined manner is what will set you up for many years of success. Get them right from day one, and you will be able to set the tone for a thriving business that allows you to live the life you have always wanted.
Read More: click here