Obviously, a dentrepreneur® is a dental industry entrepreneur, we all can agree on that—but unless you went to business school, you may need a refresher on the fine points that distinguish a small business owner from an entrepreneur. Knowing what you are now versus what you want to be requires reflection. The internal changes that will empower you to successfully scale-up do not happen by will alone!
The textbook definition of an entrepreneur is a person who manages and organizes an enterprise with considerable initiative and risk; whereas, being a business owner is essentially an issue of ownership and executive decision-making. The key ideas that elevate you to an entrepreneurial mindset are organize, initiative and manage risks.
Take a look at these four words again. If you are on the precipice of transformative changes (starting a group practice or diving into specialty, for example), think about how they apply to your present practice.
Organize – When you set up shop, did you let tradition organize your practice and the day-to-day operations? As if there’s only one way to organize a practice? Did it happen organically? What didn’t work out as expected, and what had to change by necessity?
As you transform from dentist to dentrepreneur, you must take those lessons you’ve learned and let them guide your organizational role. Make it a valid reflection of the core values that will guide your new enterprise! Intention and innovation are key!
Initiative – It started out with a dream, and now you are setting out to build something new. That’s initiative enough, right? Certainly, you must be taking said initiative if you’ve started down this pathway, right? Yes and no. Taking the leap of faith is the first push, but you can’t stop there. As opportunities and demands change (and they always do), your new enterprise will have to change with it.
“Initiative” needs to be a way of life and an inspiring motto for every member of your team. You and every member of your staff will need to find new ways to respond to the market and add value for your patients. That takes initiative.
Manage – A lot of dentists get managed more than they manage. Don’t believe me? Who runs your office? If you point to a person other than yourself, is it because you see your role is clinical more than managerial? As a dentrepreneur, you won’t need to punch the time cards yourself, so to speak, but you will need to be an active leader. Your vision will be filtered down into every managerial task. Every aspect of your office culture should reflect and further your vision for this endeavor.
Risk – In a successful office culture, every member of your team needs to be comfortable taking risks from time to time. It’s a risk to try something new. It’s a risk to share your idea with the big boss. It’s definitely a risk to communicate when you don’t feel like sharing. They can be uncomfortable, but risks are every step the road to progress. As a leader and dentrepreneur, you must model calculated, intentional risk-taking to set the tone and inspire a culture of innovation.
Clinical Dentist vs. Dentrepreneur
What is the difference between the owner of a dental practice and a dentrepreneur? A dentist and owner may make a satisfying living doing what they love, but a dentrepreneur is driven by a dream. A dentrepreneur takes his or her passion and leverages it into something unique—something that can respond, evolve and grow. A dentrepreneur creates something they can love, which will love them back.
Are you ready to transform? Stay connected for more tips on buying and selling your practice, scaling up, and establishing an emerging dental group or practice. Contact us – CALL TODAY (470) 344-5990 to discover if …….. your systems, management style, leadership, human resources, culture, and due diligence is working to the degree you need it! Efficiency and Effectiveness are the top (2) two words to be in your vision casting. Also, for your entire operations, by conducting a thorough due diligence, you will be assured of business and practice model success. We will help you know why you do what you do, what you strive to be, and plan for know, grow, scale – both professionally and personally.
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