That’s how you can find the right strategy for your practice!
Gone are the days when all you had to do as a practice owner was to be a dentist. Today – and even more so in the future – it will no longer be enough to simply focus on being a competent provider of dental care. There is another aspect that is gaining in importance: as a dentist you are also an entrepreneur. Your practice is an enterprise and should be managed like one.
Become a manager!
It goes without saying that your medical skills and expertise are crucial for you to secure your future as an independent dentist in the long run. However, your skills as an entrepreneur and manager of your own practice will increasingly come into play. This means: it will be essential for you to have a clear idea of where you want to go and what kind of strategy you want to pursue in your practice. Like in any other business, you will not be able to avoid defining a strategy for you and your practice team. This is essential if you want to distinguish yourself from the competition in the long run and focus on the issues that matter the most to you.
Get clear on what you stand for!
To formulate an appropriate strategy for your practice, you should first gain clarity on a few fundamental questions. You should become clear about your current situation. What do you offer? What is your focus? What are your strengths?
When you have answered these questions, you can go on and ask yourself: Where do you see yourself in the future? And where not? On what do you want - and can - focus? And on what do you rather not want to focus? Also consider what your competitors are doing. Think about any unique features that you may already have: What makes you stand out from others? Are there any niches that have not yet been cultivated? Do you know of any new technologies in which you could become a pioneer?
Look into specific options in a targeted fashion. Examine if you have a way of accessing the required target groups. Assess if the resources necessary for a possible strategic realignment are available to you – think in terms of financial means, time and personnel.
Give yourself some latitude!
It makes sense that predictability and constancy have an important part in your strategy. However, do not limit yourself too much. It is always advantageous to keep a measure of flexibility; allow yourself some latitude and keep the backdoor open. After all, the dental market is also a dynamic place. It is a complex market that is not always predictable. Against such a background, it is best if you see your practice strategy more like a basic framework that allows you certain degree of flexibility. This will enable you to respond and adapt your strategy to new developments as required.
CAD/CAM is rising
Before we go, a piece of advice: Digital technologies are becoming increasingly important. They have begun to make inroads into the dental world, including dental practices, some time ago. Against such a background, it would be a real option for your practice to go or become more digital. This would enable you to differentiate yourself from the competition more effectively.
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