When you are a trained dentist, you may feel that the time is right to reach out and start up your own dental practice. Of course, talking about doing this and actually taking action are two different things. Once you are committed to starting a dental practice, you then have to break down the process into easy-to-manage steps. When you do this, you can then be sure that your practice is set up (and ready) to perform at its best.
Step One – Creating a Business Plan
Before diving in at the deep end, you are going to need to work out a business plan for your practice. A business plan will cover who your competitors are, and it will cover what startup costs you are looking at. Not to mention who your customers are and what profile they fit. Without a business plan, how will your practice get through the first 12 months of operating, and how will you know it is successful if you have nothing to work from?
Step Two – Finding the Right Location
After researching and carrying out a business plan, it is time to start looking at where your dental practice will be located. The right location is essential to the success of your dental practice. From your business plan and from your research, you will find what locations work well for target markets and target audiences. For example, town center locations with off-street parking appeal. Or do out-of-the-town center locations that are larger sit better with potential patients?
Step Three – Getting Finances Straight
You have established the perfect location for your dental practice, and now it is time to start getting your finances straight. Establishing how much you will need to get started is crucial. You will also need to have a healthy contingency to ensure that your financial commitments are upheld in those first few weeks and months. To get the business finances sorted, you may find it beneficial to sit down with an accountant and a financial advisor. You may find that you will be able to get specialist funding and borrowing from providers, and not just from those high street lenders.
Step Four – Arranging Suppliers
To make sure your new dental practices run as efficiently and effectively as possible, you are going to need to depend on an excellent supply chain. When it comes to finding dental supplies specialists, you need to look at those that operate in your local area. However, you also need to look at those that operate from further afield, especially if they offer unique products and supplies that are hard to come by. When arranging suppliers, you need to base your decision on more than cost alone. Looking at what security and stability a supplier can offer you, as well as looking at how they communicate, is essential.
Step Five – Putting Together a Team
You are going to need a strong and stable team around you if you are going to succeed with your dental practice. When it comes to putting a team together, you need to look at where gaps in your skillset and experience exist. You are then going to need to plug or even enhance these gaps. Finding other professionals (either on a full-time or part-time) basis can be challenging, and it can be time-consuming. However, ensuring that you hire the right candidates is essential. Building a strong and supportive team that you can count on and depend on at all times is imperative for building a strong dental practice.
Step Six – Reaching Out to Patients and Clients
Once you have everything ready to go – all you need then is clients and patients. Reaching out to clients and patients can take time. It is important to build trust and let them know what you are all about (and what you offer). Building lasting relationships with clients and patients and giving them great service time and time again is imperative to building a strong customer base. Using various forms of communication and media to reach out to clients and patients will help you reach targets and help you develop a steady patient base that you can then continue to build over the next few years.
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