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Develop an Entrepreneurial Mindset and Create a Thriving Private Dental Practice

By Planet DDS
April 19, 2021

“How’s it going…?” That’s a common question in most conversations. The response on occasion might be, “Just livin’ the dream…!”

If that’s your response, it could have something to do with your inner entrepreneur as a solo, private dental practice owner.

But the question could “hang-in-the-air” and prompt you to reflect – “Am I actually living that dream?”

Maybe expanding your entrepreneurial horizons was once your dream. But…

  • The daily grind of running a dental practice…
  • Treating patients…
  • Hiring and managing staff…
  • Dealing with insurance issues…
  • Surviving a pandemic…

All that and more could have long since “snuffed” out any flicker of an entrepreneurial flame.

Wherever you find yourself perhaps it’s time to fan that flame again. Or perhaps the pandemic challenges of 2020 have sparked you to see practice ownership differently and determine to shore things up a bit.

It’s a new era and only the equipped will thrive

That might sound foreboding. Frankly, it’s more of a wake-up call to up-your-game as a dental professional.

No, not everyone is cut out for dental entrepreneurship. But let’s clarify that by saying that you can still adapt your mindset to be more entrepreneurial.

It’s an especially good era to do so. If 2020 taught us anything – it’s that the “norms” can quickly change.

Speaking of being equipped – it’s likely that entrepreneurial skills weren’t a big part of your dental school curriculum. Private practice ownership and business of dentistry discussions might have been had but for most part it was probably touched on at best.

Leading a thriving dental practice requires a particular set of skills. And if you’re one of those that feels your pulse increase at the mention of anything entrepreneurial – you’re on the right track.

It’s time to awaken your inner entrepreneur to create a thriving private dental practice enterprise

For the most part being an entrepreneurial dental professional involves a mindset shift. Of course, you’re first an expert clinician – that’s why people seek your services.

Realizing why they do and creating a practice culture that consistently acquires an abundance of patients is the role of the dental entrepreneur for private practices.

Let’s explore how to awaken that identity.

Grow your entrepreneurial skill-set

These skills don’t follow a course outline. Remember we began this conversation around awakening your inner-entrepreneur.

Entrepreneurship in this context is (once again) a mindset!

You must begin to think differently about your role as a dentist. Clinical skill is a given but entrepreneurship requires intention.

  • Learn how to accomplish more through your team than you ever will alone. You’re accustomed to a clinical chair-side assistant. As a dental entrepreneur keep a “chair” on hand (across all your departments) to utilize the skills of others to help build your practice.
  • Think operationally about your practice. Give attention to the daily details through empowering your team instead of micro-managing the outcomes.
  • Welcome new opportunities. Letting go of personal and corporate limitations increases your capacity to explore new strategies, emerging technology, scalable workflows, etc.

Connect with pioneers and pace-setters

Your entrepreneurial growth is not a solo endeavor. It starts there but you’ll need to add others to your “tribe.”

Other pioneering individuals can help you see and move forward into new territory. Their experience, knowledge, wisdom, and discernment will be priceless assets to you along the path.

You’ll also want to come alongside those who are setting the pace in dentistry. Their innovative perspective and expertise will spark ideas for you and your practice.

  • Follow dental technology leaders and innovators to increase your digital maturity
  • Experiment with and implement best-practices across your dental practice workflows, patient-facing systems, and marketing strategies
  • Maintain a growing network of go-to dental leaders you can bounce ideas off of. Use virtual connectivity to your advantage in developing thought-leader relationships.

Scale your path to growth and freedom

Your entrepreneurial line-of-sight should include those processes and systems that you’re already doing well. Pick and learn from your “winners” in every department of your practice.

  • Evaluate your workflows by what can be scaled. Leverage them into new growth strategies for your private practice.
  • Be fearless about letting go of what’s ineffective or (in this context) – what’s not scalable as a long-term strategy.
  • Face reality without losing hope for the future. For example, the 2020 pandemic schooled you about how to pivot around change. Apply that principle in spades to how you move forward as a dental entrepreneur.

And always keep your entrepreneurial edge. The following resources can help:

Leverage What You’ve Learned in 2020 to Reimagine Your Dental Practice in 2021

5 Analytics Driving Best Practices for Your Dental Practice or Dental Organization

Drive the future of your practice with forward-thinking technology

From contactless options to cloud-based solutions Planet DDS is a leading technology provider among emerging and sustained dental trends now and in the future.

Planet DDS’s Denticon is the proven cloud-based Dental Practice Management Software in today’s market among solo private practices, private group practices, and top DSOs.

Contact us for more information about how Denticon can streamline your workflow systems and operational tasks that can help you stay productively on trend now, in 2021, and beyond.