Dentaltown January 2020 - 8

howard speaks
column

Show, Touch, Feel-and Learn
When I was little, vacations with my dad always consisted of two things: We always
went to the biggest theme park, and we also saw what was
produced in nearby towns-cars, beer, you name it, we
saw it being made.
I carried on this tradition with my boys,
too. Over the years, we visited 100 dental
companies; my sons have all flown the
nest, but they're still talking about
those trips. I remember one road trip
when we left Phoenix and stopped at
both Glidewell and A-dec. When you
walk through those facilities, you get
to meet these employees.
It reminds me of the investment book
Beating the Street by Peter Lynch. When
anybody asks Lynch, "How do you do this?"
his reply is, "Every one of my colleagues is
sitting in cubicles in Manhattan, reading the
same 10-K annual reports and 10-Q quarterly
reports. They're all looking at the same numbers."
Lynch, meanwhile, would make road trips: He'd get
up Monday mornings, drive around the country for five days and get home on Friday
nights. He had a checklist that he filled out whenever he'd stop in to see a company: Was
it clean? Was he greeted? Could he meet the CEO? Was it weird? Was it dysfunctional?
Was it messy? Lynch says these factors indicated if things were good-he could just
smell success.

Meet the companies you work with
Last week, I visited 10 companies in Israel, and I saw the same principles in action: I
could walk into a company and know right out of the gate if it was going places. I got to
meet the founders and see if they're just good at raising money and growing capital-like
the folks you see on Shark Tank who've already got an exit strategy once their business is
sold and flipped-or if this is their life's work and passion.
Dentists who discount companies with "Well, the founder isn't a dentist" miss the
point: I've seen implant companies that fi rst made their titanium mostly for NASA
spacecraft and the military and only later went into dentistry, but when I walk through
that factory with the founders they explain why they're here now. My visits are usually
only about an hour, tops, but these people have given 10, 15, 20, 30 years of their life to
these products. It's physical-you're there, seeing it and touching it. It's the best education.

by Howard Farran, DDS, MBA, publisher, Dentaltown magazine

8

JANUARY 2020 // dentaltown.com


http://www.dentaltown.com

Dentaltown January 2020

Table of Contents for the Digital Edition of Dentaltown January 2020

Dentaltown January 2020 - Intro
Dentaltown January 2020 - Cover1
Dentaltown January 2020 - Cover2
Dentaltown January 2020 - 1
Dentaltown January 2020 - 2
Dentaltown January 2020 - 3
Dentaltown January 2020 - 4
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Dentaltown January 2020 - Cover3
Dentaltown January 2020 - Cover4
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https://www.nxtbook.com/farran/dentaltown/dentaltown-july-2021
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