Khalid Master and Thomas Sarpong from Bank View Smile Studios, Blackburn, Lancashire
Khalid and Thomas bought Bank View Smile Studios in Blackburn after being associates in Accrington for 10 years.
Although they had accumulated around 7,400 hours of undergraduate clinical training each during 5 years at dental school, the sum total of their previous business training was a 1-hour lecture each in their final year. This predominantly centred on finding a good location and fitting a large outdoor NHS sign in a prominent position – neither of which were going to be of any help to them, as they wanted to run a state-of-the-art private practice in a lovely Georgian building dating from 1868 but set back from the main road.
“With very little practice management training and even less financial knowhow, Thomas and I needed to find a specialist collaborator to help us run our new business professionally and profitably,” said Khalid.
“We had invested hundreds, if not thousands of hours to make ourselves the best dentists that we could be clinically, so we knew our dentistry very well but we were novices when it came to business management.”
“So, rather than trying to use some kind of Jedi force to find our way to our destination, we both felt we needed some expert help and that is precisely why the search began for our Business Master.”
Leaking profits? Join Andy McDougall at the Dentistry Show at the NEC in May 2018 to find out how to unlock the profits in your practice.
If despite working as hard as you can, your dental practice is not realising its profit potential, join Andy at the British Dental Conference and Dentistry Show in Birmingham on Friday May 18 and learn how to unlock your dental practice’s hidden profits. It could be the best 45 minutes you’ll spend in 2018!
Andy McDougall of Spot On Business Planning has earned his reputation as the leading business consultant in the dental industry. He’s also one of the most dynamic presenters you’ll hear.
Learn how to double your profits with a little help from dental business coach Andy McDougall from Spot On Business Planning
Dental business coach, Andy McDougall from Spot On Business Planning reveals his five top tips to help double the net profit of your dental practice – something Spot On clients tend to do every three years.
Andy McDougall from Spot On Business Planning.
On Friday 23 March 2018 the BDA held a Business Essentials ‘What every dental practice owner needs to know’ training course that was met with widespread praise from delegates.
Attendees were asked to complete a course evaluation form and 100% said they were satisfied with the event overall and 96% praised dental business coach Andy McDougall, from Spot On Business Planning, for his content and presentation.
BDA spokeswoman Silvia Pramparo said: “Thank you Andy for residing and presenting this second day of the Business Essentials course on Finance and Business Planning. I have analysed the feedback forms and I am pleased to say that they are all very positive and all the attendees seemed to have enjoyed the second day of the course.”
Andy McDougall from Spot On Business Planning
Dentists, practice owners and practice managers are flocking to hear Andy McDougall from Spot On Business Planning speak about business planning and leadership – and you can too!
British Dental Conference and Dentistry Show
The leading dental business coach is set to speak at the British Dental Conference and Dentistry Show on 18th May at the NEC in Birmingham. He will reveal to delegates how to unlock the profits hidden away in their dental practices. Andy will demonstrate how understanding the behaviour of costs leads to more profitable ways of influencing them and will share the principles of how he doubles his clients’ profits every three years. Click here for more information.
Andy is not a textbook consultant; he has 40 years’ experience of how to apply the knowledge in a practical way. That’s why he is different – and why he is so in demand in the dental sector.
This strategic planning graphic illustrates how Andy McDougall from Spot On Business Planning can help transform your dental practice
The associate model is fundamental to how dental provision is dispensed in the UK, says dental coach Andy McDougall from Spot on Business Planning, but how that model is deployed in dental practices can be quite different. And so it should be.
The basic premise of dental associate pay is a gross element that has an adjustment for dental labs from which a remuneration rate is applied, usually in the form of a fixed percentage or sliding scale. Just as no business strategy is the same, there is no ‘off the shelf’ default for the best or right associate model – it’s like corporate fingerprints, the ideal model for dental practice A may bear no relation to the perfect model for dental practice B.
When we begin working with a new dental practice we invariably find that associate remuneration bears no correlation to the cost structure of the practice, or to the specific financial goals as determined through the business planning process. Where sliding scales have been applied they are frequently set wrong or are not revisited to ensure they are and remain fit for purpose.
There are many variables to consider when determining a sliding scale and some of the most pertinent are discussed here.
Unlock the profits in your dental business with help from business mentor Andy McDougall from Spot On Business Planning
In the last two blogs, dental business mentor Andy McDougall from Spot On Business Planning looked into the four fundamental questions of the business planning process – to recap:
- Where are we now?
- Where do we want to be?
- How do we get there?
- How will we know when we have arrived?
In this blog we consider questions three and four.
The aim is to ensure our ladder is leaning against the right wall before we run up it.
Where is your dental business now?
This is the vital question asked at the start of our journey by dental business mentor Andy McDougall from Spot On Business Planing.
The process with Spot On Business Planning starts by undertaking an in-depth analysis of your dental business; looking at it from every interlinked perspective. Analysis of historical and current financial trends, profitability by treatment type and clinician, analysis of the cost structure, borrowings, people, brand position, marketing, and processes. The list is long but essential because stage one analysis provides the clues to what needs fixing.
Set your sat nav to the coordinates that will lead you to your destination, says dental coach Andy McDougall from Spot On Business Planning.
When you plan an unfamiliar journey in the car you set your sat nav to the coordinates that will lead you to your destinationm says dental business coach Andy McDougall from Spot On Business Planning.
You know where you are starting from and you know where you plan to finish and throughout the journey your sat nav will report on your progress: how far to go in miles, what time you expect to arrive, and if there are any issues along the way such as traffic jams, it will propose alternative routes.
The same principle applies to your dental business. You undertake your business journey year in, year out, but are you aware of your starting position or where you are aiming to finish?
It is very common that a dental business owner has a vision but is not aware whether the strategy being pursued will make the required level of profit in the years ahead. How dangerous to pursue a strategy that is not proven to be financially viable?
How do you go about generating the correct levels of profits?
Spot On Business Planning coach Andy McDougall joins Clear Dentistry at the Dentistry Awards 2017 in Leicester where they were named Best UK Practice
Dental business coach Andy McDougall would like to congratulate his client Clear Dentistry from Bishops Waltham in Hampshire for its recent hat-trick at the Dentistry Awards, where it scooped Best Dental Practice in the UK.
The team at Clear Dentistry also won Best Patient Care in the South and Best Practice in the South East – and Andy was there at the glittering awards ceremony in Leicester when the winners were announced.