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Getting Your Practice from $1.5 Million to $5 Million How to successfully transition into the next stage of revenue for your business.
: By Emmet Scott, CEO, Community Dental Partners
Starting a practice is hard work, but it might be more difficult to grow your practice to the next stage of revenue. That $1.5 million to $5 million hurdle is particularly difficult for any young dental practice – a phase of growth that many refer to as the “emerging entrepreneur.” The idea with this transition is that you are moving into the role of a business owner, which is never an easy transition.
After working with Community Dental Partners for over a decade, I have developed three principles that you can leverage to help you over that $1.5 million to $5 million hurdle. These are ideas that are meant to inspire you to take that next step in growing your business and developing yourself further as a leader. Here are the three major principles that will help you to elevate your practice from $1.5 million to $5 million.
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JULY/AUGUST 2022 • DENTIST ENTREPRENEUR ORGANIZATION
Understanding your patient avatar drives your decision making A critical component to the success of any dental practice is focusing your initiatives on your customer base. Who do you want to serve? What’s important to them? What do they care about? It’s easy to get bogged down on things like having the right DSO documents and how to make certain structures work, but I think this is the foundation
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