Dental coach asks the tricky questions – Dragon’s Den style!
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Drill into the detail with dental business consultant, Andy McDougall from Spot On Business Planning[/caption]Those Dragons are well known for asking the trickiest of questions and what is so often proved is that many people don’t have much of a clue when it comes to tough financial probing.
Do you?
Here are some Dragons Den style questions as posed by dental business consultant, Andy McDougall from Spot On Business Planning.Do you know what areas of your dental business are profitable and which are not?If you have three income streams NHS, dental plan and fee per item, do you know the net profit of each?Take treatments, again do you know which return a net profit? Dental business mentor, Andy McDougall guarantees several will make a loss.Similarly, so will your fee earners. Do you know which ones are profitable?So let’s assume you do know and you have discovered the loss-making areas of your dental business. Do you know what to do to deliver the correct profit from these areas?
Doubling your profits is easy…
Doubling your net profit is easy if you know how and it’s not a marketing game. Yet the industry seems set on making it a marketing game that aims to makes you bigger but not more profitable. This is the most common problem dental practices face.Everyone knows net profit is the result of your income minus your operating costs. But do you know how each of those operating costs behaves in relation to your income?
There’s no such thing as generic in business, only generic principles
Your dental business is unique, just as you, your team and your business model are. You will never realise your business potential as long as you look at the face of your accounts. Delivering the results means drilling into the detail.Don’t be one of the 90%. Decide to be more and achieve more. Make a decision to unlock the profits hidden away in your dental business. Contact Spot On Business Planning today.
Our upcoming events
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BDA Setting up a dental practice
The BDA Setting up a dental practice in-person workshop is a great opportunity for you to gain invaluable support, advice and insider information from expert speakers, including Andy McDougall and Anne-Marie Houston, on how to set out on your own for the first time.
Plan your successful exit
Due to demand, Dental Practice Sale (DPS) is hosting another fantastic opportunity for dentists to join leading industry experts. This free event in central London in October is ideal for dentists keen to plan a successful exit, maximise their exit value and gain tips for a smoother sale.
Join Dental Practice Sale, Spot On Business Planning and AMG Wealth Management on Thursday, October 16 for an informative live event.
The three companies will address key areas of concern to practice owners leading up to a sale, the sale process itself and post-sale aspects.
What should I expect?
- Learn how to maximise your exit value - what are the drivers?
- Understand the benefits of structuring your business ready for exit
- Determine the best point to exit
- Gain insights on the state of the market today
- Consider where your practice sits with the different buyers in the market
- Uncover the details in deal structures
- Be informed about the valuation process & how you can influence it
- Be aware of options pre sale such as EOT, Pre Sale Trusts, significant share holder exemption
- Transition into the next phase of life
- Ensure you run out of life before running out of money (cash forecasting)
- Protect the estate for now and future generations
- Complimentary drinks and buffet from 6.30pm
Location: Great Northern Hotel, King’s Cross St Pancras International Station, Pancras Road, London, N1C 4TB
Date and time: Thursday, October 16 | 18:30 - 21:59
Helping Patients Say Yes Without the Sales Pitch
This webinar is guided and led by your host, Dr. Mark Skimming and as a practicing dentist and business owner himself, Mark brings practical, hands-on insight into what it takes to run and grow a successful dental practice. His guidance ensures that every session is not only rooted in strategy but also highly relevant to the day-to-day realities dental practices face.
What You Will Learn:
- How to adapt communication to different patient personality types
- How to present treatment plans with empathy and clarity
- How to improve acceptance without pushy tactics
Who Is This Webinar For:
Practice owners, associates, and treatment coordinators who want to help more patients say yes to the right care without compromising their values.
Book your 121 Zoom with Andy McDougall
Fill in the form below.
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