If you are running a three-chair practice with £500,000 in sales and 10 people, you can “wing it” 80% of the time and hold semi-formal meetings to create structures and protocols 20% of the time. If you are running a 6-chair practice with £2m in sales and 20 people, you can “wing it” it 20%
Read More
There comes a time in the life of every Dental Principal when you have to admit that you simply cannot do everything any more. Not only does that extend to running the business but also to delivering the dentistry. We all start our careers as novices and evolve through experience and post-graduate education to become
Read More
Yesterday’s blog post was a bit of doom and gloom, all about the recent reductions in consumer spending and a growing sense of panic on the hight street. Then along came the first interest rate rise in 10 years. It’s a good time to have low debt, to be liquid, to have some reserves and
Read More
The draft service specifications for the NHS ortho contracts have now been sent out. The contract size for XXXX is double my contract value. At first glance, I will either need to employ a second orthodontist, start training therapists (more space or move?) or join up with the provider in a nearby town. Typical of
Read More
Once upon a time, I was visiting a dental practice whilst one of their patients left the building at the conclusion of his Invisalign treatment. It just so happened that the patient had almost a million followers on Facebook but, sadly, the team in the practice were too busy doing other (important) things to capture
Read More
Observation #1 Ashley and I recorded our latest podcast yesterday with our friend and Founder/Principal of PDC Dental Dr. Alex Jones. It’s a great interview and hopefully will be ready to broadcast in a few days time. There are two highlights I wanted to share with you this morning: Q1 : “what advice do you
Read More
OCPSPD Operating cost per surgery per day. Let me explain (for my fellow non-accountants). When you look at your audited or management accounts you will see three main sections: Income/Sales – the money that came through the door; Cost of sales/variable costs – the money that you have to spend when some dentistry gets done.
Read More
To begin with, you can download (free of charge) here an updated version of my suggested organisational structure for a £10m private micro-corporate. 02183 CB Org Structure A4 FINAL Before you think “I’m never going to achieve £10m in sales, so this is not for me” – pause – download anyway – and reflect on
Read More
I’m not breaking any news by telling you that goodwill values in independent dentistry are overheated. Yesterday I was asked to give an opinion on the proposed purchase of a small private practice less than 5 years old, moderately profitable for the last 3 years and offered at over 7.25 times adjusted earnings. That may
Read More
It’s really hard to swallow isn’t it? When a member of your team hands in their resignation and tells you that they are moving to another practice in the area for a few more pounds/dollars per hour? 20 years ago I was running a dental workshop in my home town of Manchester, attended by a
Read More