One thing that drives me nuts as a business evaluator, entrepreneur and investor....those who only look at past performance as indicators of upcoming performance.
I look for OPPORTUNITY, with the future in mind. It’s how I invest and have averaged double the market for almost a decade. It’s how I have viewed dentistry for many years. There is a fair value for the opportunity...it’s never been better!
SOME Accountants and bankers criticize evaluations and tell their clients what a “poor investment” a dental clinic is based on the past...bleh.
In my lifetime I have watched as many of my friends BLEW THE DOORS OFF what they were told might be poor investments. There is NO DOUBT in my mind that we now see a strong presence of entrepreneurs and a HUGE SHIFT in the value of clinics....because of FORWARD looking investors!
We are not going backwards. We are becoming EVERYTHING I have been talking about for a couple decades - mostly TIME EFFICIENT! Our procedures are becoming more predictable, the scope of available treatment is widening and the opportunity is growing.
If you want to “go backwards” don’t go to courses. Don’t learn anything new. Don’t keep your eyes open. Keep your head down and keep grinding as the world passes you by. The entrepreneurs will continue to advance the science and technique and TIMEfactors of dentistry and help patients get more predictable results in less time and more comfort than ever before...
Think about it.
More people than ever visit a dentist. Dental health, overall, is at all time highs. That composite bond you did a decade ago used to have tons of sensitivity and take a long time and would likely fail within several years - now you RARELY get sensitivity and the chameleon effects can be performed in minutes using bulk fill, biocompatible fluoride releasing self etching products. Wow!
The fee guide is “fixed” based on PAST performance, and yet we have SO MUCH opportunity to blow the doors off by simply keeping our minds open to the efficiency and predictability of new products and techniques.
Invisalign, SMILE DIRECT, TF adaptive files, Electric motors and now Cad cam, CT, Scanners....- have brought SO MANY new people in the door! They want straight teeth - but they are more willing than ever to invest thousands of dollars out of their pocket for dentistry. Spend to fix the snoring problem. Take care of sleep issues. Sink an implant and fix that gap. They WANT a beautiful, white smile. They have heard about the periodontal connection to overall health....
Are you making sure to be forward thinking or are you going to judge the future based on the past....which is to say, we have never done anything but move forward in this profession!