Dental Practice Fixer Upper
The Dental Practice Fixer Upper is a live project where we are going to turn a failing office with no profit into a highly successful, profitable one. This project will be video recorded weekly for 12 months and show all the ups and downs that come with practice growth.
Join us for future episodes to see what is possible for your office.
VENDOR HELPERS IN THIS EPISODE
Who you will see here:
Since I always get asked who I am working with, I will make this the normal location if a service is making a large impact at the time. As an up front disclaimer, most of these vendor partners loved the idea of getting involved with a live project like this, most of them just because they wanted to see what they could do. Most of them are providing some kind of discount service, but all of them are people I have either worked with before or would have worked with anyway.
Episode 1 : Pilot
Episode 1 – Pilot
Hello, welcome to the first episode of a new blog series called “The Dental Practice Fixer Upper.” I’ll be your host for the coming year.
First, for those who don’t know me. I am Dr. Travis Campbell. I have been a full-time dentist practice owner in Texas for 10 years. I have made every mistake possible when it comes to running a business, and along the way of learned how to fix and avoid these issues. Through this process, I developed a passion for helping other dentists navigate the business side of ownership and picked up the nickname “The Practice Whisperer.”
Many dentists are struggling with similar issues related to running their business. It has been such a blessing to be able to share my experiences and help my fellow practice owners improve their business skills and results through CE, speaking, and direct coaching.
During a recent consulting project, I was asked to consider “buying out” a practice at a deep discount. At first, I didn’t really know how to respond. I had not contemplated ever running two offices at once. I already had a highly successful office that I really do not have time to step away from. As my wife correctly reminds me of often. 😉
However, I love helping other dentists, so I investigated how to make this work. I began to see the following opportunities to:
- The office has a lot of potential. And I saw that with a few out of the box ideas, I could make this office a beacon/catalyst for change.
- I do not have time to work in two practices, but I can find time to mentor another dentist in running the practice. I could get a partner dentist to help with the clinical side, while I worked on the business improvements.
- This office is a perfect example of the situation many struggling dentists have that I hear from weekly. By sharing the journey and showcasing the problems, solutions and steps we take to improve and grow, I hope to encourage a larger community of dentists and provide a roadmap of practical improvement tips that anyone can use. This should be exciting and fun.
And so, the Dental Practice Fixer Upper project was born!
The goal for this “Fixer Upper” office will be to increase revenue from it’s current $250K to $1 Million within a year. More importantly though, we plan to move from zero profit to over 40% profit in that same timeframe. Our commitment to you, the viewer, will be to post our progress in regular installments; highlighting the good, the bad and the ugly! Hearing the challenges is just as important as the successes. Nothing will be held back.
You will find out more about my partner in a couple weeks, but the important thing is he is fairly new as both a dentist and a business owner. The reason I highlight this fact is because I want everyone watching to realize that anyone can do this with some help. Some of us are more DIY than others, but I want to dispel the myth that dentists should settle as owners for taking home less than what they aspire to. Based on how profit and overhead work in dentistry, there really is almost no limit to our incomes.
This show will be broadcast in short (<10 minute) weekly episodes over the next year right here on PracticeWhisper.com. Each episode will include a live update on a specific aspect of the office that we are working on. It will include all the ups, downs, challenges, successes, etc. that come with trying to grow a business. Each week will include tips that have helped us grow this office. I hope you will tune in and join us in the process and learn what you can do in your own office to be even more successful. Everyone is likely to pull some great business pearls out of this. And we also imagine that you will give us some good ideas that we haven’t thought of as well!!
If you would like us to send you a link as each episode comes out, just subscribe on the right or below. Have a great week of growth!