Dentaltown New Grad Edition 2019 - 23

Take it from a solo-doctor practice owner:
These 5 keys can bolster your business
"Am I really going to do this?" I thought.
I was sitting in my 2001 Mazda Protegé,
hands tightly gripping the steering wheel,
parked outside the cheap motel I'd stayed
at the night before. In 15 minutes, I'd be
walking through the door of my future
practice to meet my employees.
I had so many contradictory emotions
flowing through my veins. I was excited and
nervous; confident, but scared.
This was one of the milestones as a
practice owner that I'll remember for a long
time: In tough situations, sometimes you just
have to put it into "Drive" and get moving.
There's a lot of doom and gloom being
spread around the dental industry: "The
golden age of dentistry is over." "Corporate
dentistry is destroying private practice."
"Insurance is killing the dental industry."
"Student loans are too high." It's not that those
matters aren't having an effect on dentistry,
but there are many, many dentists who are
crushing it in private practice despite them.
This article is directed to those who are
ambitious, but also concerned about the
possibilities of their future. During dental
school, I spent many nights lying in bed,
staring at the ceiling, wondering what my
future would be like. I had big goals and
ambitions but was unsure if, when or how
many of them would come true. Fortunately,
I'm on the other side of that now. After years
of hard work, I've more than doubled my
practice, while working fewer days per week.
Your life can go as far as your vision,
dreams and actions will take you. That might
sound cliché, but it is true and is evident daily
in the lives of other dentists I work with.
The task can seem daunting, but it's very
possible to have a thriving practice, earn a
great income, and have the lifestyle you want.

There were several things I learned in
my first year of ownership that I want to
share with you.

SET GOALS
The following is from Lewis Carroll's
Alice's Adventures in Wonderland, when
Alice meets the Cheshire Cat.
Alice: "Would you tell me, please,
which way I ought to go from here?"
Cheshire Cat: "That depends a good
deal on where you want to get to."
Alice: "I don't much care where."
Cheshire Cat: "Then it doesn't much
matter which way you go."
Although this was written more than
150 years ago, it applies just as much in our
time. Many of us don't have a strong vision
of where we want to go-many dentists
may feel that fi nishing dental school was
the peak of their accomplishments, and
that their degree will carry them the rest
of the way.
It can often be difficult to keep the big
picture in mind. As dentists, there is so
much day-to-day filler that comes up that we
struggle to remember our vision or purpose.
So, when it comes to setting goals for
the first year of practice ownership, there
are many unknowns, and it can be difficult
to know where to set your goals.
As a practice coach, I've been able to see
many different goals set by many different
dentists. Here are some key principles to
learn from those that have been successful.
Stretch yourself. Choose goals that will
push you to high levels of action. Many
people set goals that they believe are well
within their grasp, because their fear of
failure is stronger than their desire to push
themselves to a higher level.

by Dr. Derek S. Williams
Dr. Derek S. Williams graduated from
Creighton University College of Dentistry.
He maintains a private, solo-doctor
practice in East Texas. Williams is co-owner
of The Lifestyle Practice, where he works
with other dentists to take their practices
to the next level, increasing production
while taking more time off. Email: derek@
thelifestylepractice.com

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