On less being more

To quote The E-Myth philosophy:

  1. a technician wants to spend 100% of her time as a clinician;
  2. a manager wants to spend 80% of his time as a clinician and 20% of his time leading other clinicians;
  3. an entrepreneur wants to spend 100% of her time leading other clinicians.

Most of my clients are managers by this definition.

Generating 60-70% of the overall production in their practice.

If they take a holiday, get sick, enter a post-graduate course or lose their mojo – the finances of the business quickly head downhill.

The pressure to keep producing is intense and relentless.

After their 28-35 hours a week of clinical concentration, they have to start dealing with all the other issues of running a business.

The challenge for the technician is to become better at what they do – to invest their 10,000 hours to become a genius.

The challenge for the entrepreneur (in 2016) is to find suitable acquisition targets and grow clinicians.

The challenge for the manager is to reduce their own production as a percentage of the total – to target 33% as the proportion of total sales that emanate from their chair-side time.

So if you are a manager currently grossing £400,000 (no matter how many days a week – although it should be no more than 4), then your target is a practice that grosses 3 times that – £1.2m.

You do this by training and mentoring good clinicians (technicians) and developing smart marketing.

It is only by becoming a third of the sales that you will create the room in which to live – otherwise you are in a hamster wheel, doomed to keep running.

p.s. two reasons for this post

  1. talking to a dentist who is grossing 75% of his practice total, who asked me whether he should increase his clinical hours (NO!).
  2. the realisation that my January sales at 7connections are about 33% of total sales – result.

Published by

Chris Barrow

Chris Barrow has been active as a consultant, trainer and coach to the UK dental profession for over 20 years. As a writer, his blog enjoys a strong following and he is a regular contributor to the dental press. Naturally direct, assertive and determined, he has the ability to reach conclusions quickly, as well as the sharp reflexes and lightness of touch to innovate, change tack and push boundaries. In 2014 he appeared as a “castaway” in the first season of the popular reality TV show “The Island with Bear Grylls”. His main professional focus is as Coach Barrow, providing coaching and mentorship to independent dentistry.