According to Jennifer Smith, taking over a dental practice from another practitioner is quite a challenge. The video, “ Dental Practice Transitions Are Hard – Tips to make it easier” talks about dental practice transitions, such as buying an existing practice or getting into a partnership with another partner. The reason these transitions are difficult is that the person one is buying it from, or getting into partnership with, may have a different approach to the business. What one considers critical to the business may be different from one person to another.
Here are four tips one can use to run a successful dental practice after purchasing it, or after entering into a partnership with another practitioner.
1. Start With A Vision
One should think and dream as big as they can about the type of practice they want to create. Envisioning exactly the kind of practice one wants is critical. But not just envisioning it, writing it down as clearly as possible is a must.
2. Build a Deam Team
After taking over a dental practice, one finds an already established team with a different culture and way of doing things. However, this may not be the kind of team they envision working with. They need to build their own dream team. This may involve sharing the vision with the existing employees, some of whom will be excited about it while others might decide to opt out. Not to worry. For every team member that leaves is an opportunity to bring in another who is closely aligned with the new vision.
3. Involve The Team In Making Decisions
The team must feel their opinions matter. Give them a level of authority and power to make some decisions. Start by asking them to make decisions on minor issues that won’t affect the business if something went wrong. If a team feels their opinions matter in the running of the practice, they are likely to be more committed and engaged.
4. Be An Agent For Change
People always resist change at first. But once they understand the vision of the dental practice, and why things are done in a certain way, they are likely to get more excited and involved. Always help them see both the small and the big picture, and don’t take their resistance to change as a rebellion against the new leadership.
This video explains how one can run a successful dental practice purchased from another practitioner and make it profitable, perhaps even more profitable. However, they need a vision that galvanizes their team and encourages them to embrace change.