You did it. After years of hitting the books, mastering the art of root canals, and perfecting your chairside manner, you’ve finally taken the leap and opened your very own dental practice. Congratulations! You’re now the proud owner, CEO, and many other job titles like IT and janitor. Any business owner will tell you that it doesn’t stop when you clock out anymore, so hope you’re ready!
Before you start ordering custom logo pullovers for everyone, let’s get real about what it’s like to be the boss. Spoiler alert… it kind of sucks but is also kind of amazing. You’ll know you did it right if there are moments where you wonder why the hell did I sign up for this? But fear not! Some of this information should help with navigating the highs, lows, and everything in between of being a new practice owner.
The Thrill of Making the Rules
Remember when you had to follow someone else’s office policies, work with outdated equipment, or deal with strange decor choices (sellers please update your practices from the late 90s to something a bit more modern now). That ends now. You’re officially in charge, and that means everything from the furniture to the toothpaste brand is up to you.
This freedom is probably the best feeling when you finally switch over. You get to design your dream practice, create the perfect patient experience, and build a work culture that suits your vibe. Want to have a coffee bar in the waiting room? Do it. Thinking about installing massage chairs for your patients? Why not! You’re the captain of this ship now.
But with all this freedom comes the dreaded responsibility of paperwork… and lots of it. Think you were going to walk in and just start practicing dentistry? Wrong-o. Every agency and board you can think of is going to want you to fill out their paperwork and sometimes twice.
Numbers, Payroll, and Other Fun Stuff You Didn’t Think About
You became a dentist because you love helping people with their smile, not because you dreamed of managing cash flow and understanding practice management software. Yet here you are, trying to figure out QuickBooks while also deciding if you should spend that extra cash on a fancy new laser or just focus on keeping the lights on.
Suddenly words like overhead, tax deductions, and profit margins are a part of your vocabulary. Sometimes it’s even fun to throw those words around with others just for the sake of talking business! If you’re feeling like you’re trying to learn a foreign language though, the secret is to hire good help. Get yourself a consultant who speaks fluent “dental business,” and an office manager who knows how to keep the ship running smoothly.
Whatever you do, don’t try to be a hero and do everything yourself. A jack of all trades is a master of nothing. Your time is better spent working on someone’s teeth, not figuring out why the Wi-Fi won’t stay connected.
Marketing is More than Just Word-of-Mouth
Remember when your dental school professor said, “If you build it, they will come.” Yeah, that doesn’t actually happen in the real world. In reality, just having a great practice won’t make patients magically appear. It doesn’t work in any business let alone dentistry.
That’s where marketing comes in. You need to market yourself, which might feel a bit uncomfortable or out of your scope. It doesn’t have to be billboards and cheesy radio ads, patient’s close to you just need to know you exist and see your personality. The easiest would be to start with a good website and some social media, where you can showcase your updates, patient testimonials, and your team’s personality. After that, you could even get into Google Ads and old school mailers for your immediate 2-3 mile radius.
Building Your Dream Team
You’ve got your shiny new office, but guess what? You need people. Hopefully if you bought the practice, the place already had great people. But if it didn’t, you need the right people, not just warm bodies. It’s a lot harder in today’s world to build a dream team as you need to be part talent scout, part therapist, and use a lot of gut instinct.
From the friendly face that greets patients at the front desk to the dental hygienists who keep your schedule moving, having a supportive team makes all the difference. Don’t be afraid to hire people who complement your weaknesses, in fact that’s what you should do. Most practices have an office manager who runs the place better than the dentist as they’re both rockstars in different areas of the practice.
Don’t forget the team culture. The quickest way to start losing people is having no culture or sense of fun at work. Keep it upbeat, supportive, and occasionally fueled by coffee runs to keep everyone happy and motivated.
Patient Care is About the People, Not Just the Teeth
Patients aren’t just looking for a competent dentist who can fill cavities. They want a dentist who understands them, talks to them like a human, and maybe even cracks a joke every now and then to lighten the mood. Believe it or not, most people do not like going to the dentist. I know shocking.
Being the owner gives you the unique power to shape your patients’ experiences from the moment they walk in the door to the follow up after treatment. Make it personal, make it memorable, and most importantly, make them want to come back.
Also, don’t underestimate the power of cool little touches like providing cozy blankets, offering Netflix in the chair, or having a take home toy for the kids.
The Challenges of Long Hours, Tough Decisions, and Learning to Roll with the Punches
Being a new practice owner is tough, and if it wasn’t then everyone would be doing it. There will be long days, tough calls, and moments where you’ll wonder if it’s all worth it. The answer is yes, yes it is. But you’re going to need some patience to grow, a little grit you’re not used to, and maybe a secret stash of your favorite stress reliever.
Running a practice means wearing many hats such as dentist, boss, marketer, problem solver, and so on. But it’s also the most rewarding role you’ll ever take on and pushes you to become even better. You’re building something special, and it’s going to grow and evolve with you if you just stick with it.
Final Words… You can do it!
Welcome to the wild, fun, and exhausting life of dental practice ownership! You’ll face challenges, but with the right mindset, a solid team, and maybe extra cups of coffee, you’ll thrive. You have the skills, the vision, and the dedication to make your practice a success, so just do it without ever looking back. While you’re at it, go ahead and order those custom pullovers.
When you read through this and you got a little nervous, that’s perfectly normal. If you want help buying, starting, or post sale coaching, that’s something we help dentists with every day. Copper Dental Transitions was a startup and we even owned a dental practice at one point, so we know a lot of the bumps in the road you’re going to face. Feel free to reach out at the below.
Kyle Womeldorff
Founder
480-690-5200
info@dentalbroker.com