According to Forbes, the longest the United States has gone between recessions is ten years and it's been almost eight years since the last one. If you've been paying attention to the Federal Reserve, you know they increased prime rate from 3.75 to 4% and they're meeting again in June to decide if it's going to increase again. Considering how much money we've been printing, it's my personal opinion that a recession will be coming sooner than later. The questions is, what will you do when this … [Read more...] about Can Your Dental Practice Grow During a Recession?
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In this article, I want to talk about motivating our employees and staff. For me, there is an effective two-way motivation process, wherein actions result in either a reward or a punishment for your dental staff. As I have cited in scheduling training to increase your treatment plan conversions, you can get your staff to reach certain goals by two methods of motivation: Positive rewards or negative aversion. The Two-Way Motivation Process for Your Dental Practice Management: Positive … [Read more...] about Dental Practice Management: Two-Way Motivation
Many people like to utilize Facebook and Twitter for their business pages. Lots of people do this because they find it easier and probably a lot cheaper to go this route than to use the more expensive options of conventional media such as TV, newspapers, radio, etc. The question we’re asking today is: Is there still a need to advertise on YouTube? Should You Advertise on YouTube? YouTube videos are currently conquering the technological world when it comes to the number of views worldwide. In … [Read more...] about Dental Marketing: Should You Advertise on YouTube?
There are more than 40 million people moving in around the states every year. With so many potential patients coming into your area, dental marketing to new movers is a great way to expand your business. In this article, we’re going to talk about new homeowners in your area and how you can market to them to bring them into your practice. Generally, November and December are the most popular months for new homeowners to make a move and January is the best month to market to these people. This … [Read more...] about Dental Marketing to New Movers
One of the most common questions that I receive from my clients is: “What do I do when my financial goals exceed how much I can earn from my current practice?” Great question. To answer it, this article will look at ways of expanding the financial possibilities for your revenue goals as a dentist. Let’s say that the capacity for your location is based on its population. Your net revenue is approximately $400,000 a year total, but that does not suffice anymore in relation to your ideal … [Read more...] about Expanding the Financial Possibilities of a Dentist
Hello everyone and Happy New Year! Surely we’ve all had a fairly busy holiday, visiting friends, eating good food and taking some time to relax. While the break was certainly needed, it’s time to get back on track! If you have not done your dental marketing plans for January yet, this blog will help you get started on moving forward with the new year. Before you can create your new dental marketing plans and goals, you will want to: Analyze your past performances, recognize what worked and … [Read more...] about Dental Marketing Plans for January
Today’s question is: “How well do you communicate change?” Changes are occurring everywhere, every day, especially in the fields of technology, marketing and advertising. To stay relevant, it’s important for your dental practice to be adaptable and current. If you need to implement change into your dental office, would you know how to communicate change if you needed to implement it immediately with your staff? According to a study on change and communication conducted by Willis Towers … [Read more...] about Dental Practice Management: How to Communicate Change
Does your staff know how they are doing at their jobs with their soft skills and subjective KPIs? In my previous article and vlog I talked about objective KPIs, which are numbers that can demonstrate how well an employee is doing at their job. However, subjective KPI’s are also important, as they can bring about information that objective KPI’s might overlook. Soft skills and subjective KPIs are things that you may not be able to pinpoint in regular performance, but that you can focus more on … [Read more...] about Dental Practice Management: Soft Skills and Subjective KPI’s
Does your staff know what KPI’s are? KPI is an acronym for Key Performance Indicator. It’s defined as a type of performance evaluation, used to evaluate the success of an organization or of a particular activity in which it engages. Often success is simply the repeated, periodic achievement of some levels of operational goals (e.g. zero defects, 10/10 customer satisfaction, etc.), and sometimes success is defined in terms of making progress toward strategic goals. When it comes to your dental … [Read more...] about Dental Practice Management: Key Performance Indicators
An employee performance evaluation is the process of performing routine individual meetings for each of your employees. These evaluations require you to look at each employee’s overall performance and to ask them questions pertaining to their position, strengths, improvements, etc. These meetings are very helpful for informing employees about what could be improved, what you’re happy with, etc. These employee performance evaluations should be performed fairly regularly, (every 3 months or so) … [Read more...] about The Importance of Employee Performance Evaluations