Business Success - David Schwab, Ph.D.

Finishing the Year Strong

It’s time to gear up for the race to the end of 2020. The upcoming holidays are our signal to turn the page, focus on success, and forge ahead.

I received a very kind note from a client as we wrapped up a long and successful project. “Your counsel provided my practice with the boost it needed to get over some tough times which in turn significantly reduced my personal stress levels,” he wrote.

I appreciated his comments because that is why I am here—to advise, be a sounding board, train the team, help increase production and case acceptance, and chart a path to success.

The best way to prepare for a strong 2021 is to finish 2020 on a high note. There is much work to be done in dental practices to make up for lost time and be positioned for the future.

I am optimistic that, at least from a business point of view, we have turned the corner as we roll into a new year. Better days lie ahead.

Some questions to ask yourself. Will there be changes in the practice related to:

New team members?
New doctor?
Office renovation or new office?
Changes in insurance reimbursement?
Planning to retire within the next five years?
New technology or services offered?
Changes in hours of operation or scheduled appointment times?
Increased overhead?

The time to address these issues is now. With good planning, 2021 can be a great success. Let’s have a conversation. To set up a call, contact me at dschwabphd@me.com.

Asking the Right Questions to Improve Efficiency

Are you asking the right questions? We all want to know what is going to change in the next ten years. One of most prescient business leaders in the world, Jeff Bezos, founder of amazon.com, says that we should ask another question: “What will not change in the next ten years?”

Bezos, quoted in Peter Diamandis’ book, Bold: How to Go Big, Create Wealth, and Impact the World, says that no one has ever told him that Amazon’s delivery is too fast. He concludes that in his business, one factor that will not change is the need to improve delivery speed.

Amazon is continually trying to deliver orders faster. The company pioneered e-books. No more waiting for a book to arrive; simply click and the books downloads to your Kindle or other device in seconds. The company is now testing how to deliver tangible products in hours using drones.

There are three critical factors that will not change in dentistry. Let’s discuss speed and how we can apply the lesson to dentistry. I will address the other factors in subsequent posts as we continue to explore lessons from Amazon.

In dentistry, there is always a need to make the delivery of dental services faster by improving efficiency. It is important to note that I am not advocating spending less time with patients. On the contrary, I am focusing on finding ways to use your time and the patient’s time more efficiently.

Here are the right questions for your team to discuss.

How can our appointment process by streamlined? How can we spend less time on the phone scheduling and confirming?
How can we make better use of automated confirmation systems?
How can communication between front and back be improved so we can schedule more efficiently?
How can we ensure that we have some openings in the schedule at the ready for new patients who want to be seen very soon, even if they do not have any urgent dental needs?
How can we streamline the check out and fee collection process?

I pose these questions to teams when I consult with practices and challenge the teams to find answers. While practices do not arrive at perfect answers, they improve these processes, and that is the goal.

To have a substantive team meeting, work through these questions in depth to improve efficiency. As I always say, you may not have all the answers, but if you have the right questions, you will improve your business.

Next post: The second factor that will not change in dentistry and how you can improve.

www.davidschwab.com

Hospitality: The Secret Sauce in Business Success

Hospitality as the “secret sauce” in business success was explained recently in a segment on 60 Minutes. The interview featured Danny Meyer, an incredibly successful restaurateur. Meyer wrote a book called Setting the Table in 2009 that has since been reprinted and made available in an electronic format. You can find it on amazon.com

Meyer made it big in the restaurant business in New York. “If you can make it here, you can make it anywhere,” as the song says. It is even more impressive that Meyer achieved his phenomenal entrepreneurial success in the restaurant business, where the competition is brutal, profit margins are small, and so many things can go wrong.

His formula is simple yet compelling. Meyer says that in a restaurant, it is obvious that if the food is not good, then no one is going to come back. For that reason, he places tremendous emphasis on quality control—freshness, tried and true recipes that people like, attractive presentation, and ingredients that all work together to give customers a great taste sensation. People come for the food; the food has to consistently meet and exceed expectations.

The other, equally important factor is hospitality, the “secret sauce.” Meyer says that people have to have a great experience when they come to a restaurant. He explains that the experience is provided not only by friendly and competent servers, but by everyone in the restaurant who interacts with customers.

Meyer is always moving from table to table. He smiles, makes small talk, asks for feedback, and thanks people for coming in. The pride he takes in his work is evident and he genuinely wants everyone to have a good time. People like him and they appreciate the hospitality as much as they like the food.

I saw this philosophy in action recently. I had lunch at a modest, family-run restaurant in a small town. The food was very good, but the experience was memorable because of the hospitality. The owner came out, introduced himself, thanked me for being a first-time customer, and explained that he is building his business one satisfied customer at a time. We had an enjoyable conversation. By the time I left the restaurant, I felt that I had made a friend. The next time I drive thorough that town, I will visit my friend the restaurant owner and have another meal. I have also told others about the restaurant.

I know dentists who not only provide quality dental care, but who walk into the reception area and greet patients. They are always gracious hosts, welcoming new patients, catching up with loyal patients of record, and connecting with everyone who comes to see them.

In these practices, people come back and tell their friends because the hospitality is as impressive as the dentistry.