5 ways you can make your Dentistry a more Sustainable Business Model

Although your patients’ care should be your priority when managing your dental practice, it is imperative that your business model is sustainable.

This is because you can’t help anyone without first helping yourself. If you and your staff can’t do your jobs efficiently and safely day in, day out, then your ability to care will plummet. A sustainable business model means your practice is profitable and works as seamlessly as possible, drawing minimal compromises either on staff, patients, or your bank account. 

So, here’s five ways you can make your dentistry a more sustainable business model:

Don’t run the risk of supply shortages – stock up

You can’t hope to create a sustainable model without sourcing supplies on a regular basis at a reasonable price with minimal hassle. 

This is easier said than done.

In an industry as complex and concentrated as dentistry, equipment is not always available from the same source.

For instance, you may not be able to buy anesthetics from the same place as facemasks or x-ray equipment. This has the potential to soak up your time and money, which is why buying bulk dental supplies from a reputable wholesaler is crucial. It saves you the effort of sourcing individual items, finding a suitable price, and having them delivered individually.

Cultivate a strong and responsive customer base

Another key way you can make your dentistry a more sustainable business model is to create a stronger customer base. It is easy to believe that, as a dentist, demand for your services depends purely on whether someone has a problem with their teeth. While, of course, this is theoretically true, it doesn’t mean you can’t find whole swathes of new, high-quality customers without waiting for them to come to you. 

Having a healthy, consistent supply of patients will make it easier for you to calculate company costs, as well as make it easier for your staff to work at a steady pace, rather than having boom and bust cycles of intense work and quiet periods.

Don’t follow the herd – become a dentistry leader

It is important not to follow the crowd in any business enterprise. This includes dentistry.

 While there are certain universal protocols and approaches, the way you are perceived in the marketplace will depend largely on how you market yourself. 

Rather than hiding behind your practice, train yourself to take the lead and build yourself into an expert voice in the world of dentistry, the man, woman, or brand everyone turns to and thinks of when they have a dental problem. This will safeguard your brand and help customers know where to turn when they are suffering from a dental problem.

Learn to walk away – why you can’t always be in control

As a business owner, you must learn to take a backseat from daily control if you’re to grow your dental practice into a sustainable business. This doesn’t mean you quit, far from it. You are just refraining from the meddling that kills many businesses, as perfectionist owners struggle to hand over daily management to (often better qualified) staff. 

Unless you want to continue practicing dentistry on a regular basis, focus your attention on the wider picture – marketing yourself in the local area, studying your business systems, and finding ways to grow the company.

Struggling for regular clients? Consider a joint venture 

One final option if you’re struggling to attract a healthy flow of customers or to position yourself in the marketplace is to enter into a joint venture with another business. 

For example, if you want to attract customers from a certain area, why not advertise on a local businesses’ email list (giving them a cut of the profits) or attracting outside investment. When it is done well, this can be a fantastic way of expanding your business.