How to succeed as a dentist and entrepreneur? Be good, and hire good (period)
Before he opened his restaurant, Petr spent many years working as a cook. Perfecting the craft of running the kitchen. Feeding his mind recipe books and devouring the words of his mentors. Several years spent mastering the recipes that had been meticulously confected. Petr could perfectly sear steak, flawlessly steam fresh vegetables, simple spices were artisanal in his commanding hands....
Petr maneuvered a knife with great skill and plated foods that could satiate the hungriest eyes….
Even as he mastered the skills, Petr decided to take his career to new levels. Continually improving. Experimenting with recipes, boldly flavoring meals and recipes in ways that had never been dreamt. The executive chef learned that you eat with your eyes first, and the value of the meal had much to do with presentation and customer experience....
Master Chef Petr grew to be a very skilled and creative man. Bringing together the lessons of life - he learned from his own failures and imagination. He created a menu of delectable, everyday food. A hamburger. Fries. Shakes.
The same kind of foods you could get anywhere – but the difference was…..Master Chef Petr!
Others were using frozen patties and tried to find ways to reduce costs – he could create a premium product with the freshest ingredients.
Skill and sincerity are the most important ingredients of success
Petrs' skill was creative. He could create meals that blew people away. He knew it, and if you wanted to discuss culinary matters, he would make sure you knew it. Becoming a master at anything means having confidence. Confidence that may not always translate well with other business skills.
The masters of their craft are not masters of all trades!
Petr was a smart man. He knew that he needed help to open his own business. He could create incredible products - but running a business was not his skillset. Recognizing this weakness was a skill in itself!
Petr set out to meet people that could help him. He was an entrepreneur and was ready to open the doors to success!
Petr consulted with masters of business. They helped guide his opening. Helped him design a facility that matched his skill and potential demographic. They helped him hire the right front end, incredible team members who understood the meals. Appreciated the effort and skill and could convey this experience to the patrons.
The first and foremost focus of the business was the experience for the patrons. Petr never considered this, but his business partner did!
No matter how incredible the talent in the back, without the front end experience being perfected - it wouldn't matter. Patrons had to be able to "get a table" in a reasonable amount of time. The customers had to feel wanted, appreciated and respected. Seated quickly, with appreciation. Served by knowledgeable team members. Members who not only understood the recipes and could properly illustrate the taste - but had fully participated in the creation of the overall experience.
Even if the meal was incredible, and perfect - if the experience sucked, the patrons may never return. They would even likely post reviews that may cost the business a lot of opportunity!
IT'S SO IMPORTANT TO UNDERSTAND THIS PART OF BUSINESS!
Petr created incredible recipes, and taught others how to reproduce his product. More importantly, his business manger and consultant taught the business how to reproduce the product efficiently and profitably!
The business manager and consultant put in place systems to create his product with minimal labour and maximum taste. The freshest buns baked in their own ovens, the hamburger fresh from the butcher every day. Fries from fresh potatoes all supplied from local farms.
The word on the street helped build the business, very little marketing was necessary. The food was simply delicious, predictable and the service outstanding.
When you go out and eat – what do you expect and look for? Sometimes it’s a matter of convenience – but at the end of it all, we all want a simple – but outstanding meal. Good service. No lineups. Reasonable price for what we get.
It’s no different for you.
Dentistry is about being sincere and skillful....and having the right team!
The challenge I see in this industry is to re-teach the value of the most minimal, and yet most impactful ingredient to a clinic success…..the skill and the ingredients behind that skill.
You may be a chef in the operatory, but if your sous chef never preps properly – you will never be efficient and profitable.
Using your skills and trying to create a master piece meal with compromised ingredients will take some real skill for sure!
For all the many years I have worked as a "dental sales guy"….I also have continued to master my skills. During my 73,000+ hours in the business I have observed and learned from all the failures of bad materials and techniques. With the ultimate blame for the business overhead placed squarely on the supply costs – the ingredients for the very meals meant to provide the superior experience!
Supplies should cost a small percentage of the procedure – but more important, an understanding of efficiency and the “taste” matters too. The experience.
When I get asked to get overhead to 5%, I like to ask what the customer is actually expecting? What procedures do they perform, what is the price of the hamburger at their restaurant. What type of service do they offer and what they expect to see as an end result in the business.
Just saying “Someone told me food costs should be 5%” to me is someone simply vying to get you to buy their book and doesn’t understand materials and labour costs! The cost of the ingredients is so minimal compared to the cost of having a bad taste in your mouth. Of a meal that fails. The reputation. There are often ingredients that may cost a little more – but can significantly improve the production. Provide longer lasting and more reliable results – reduced chair times.
This matters so much more, and it may mean 6% overhead on supplies rather than 5%.
In reverse – you could likely get to 4% if you really want to compromise and buy the “outdated” but still drinkable milk.
The problems with overhead are RARELY the issue of the supply costs. It doesn’t mean you can be a moron on supplies – you just need to be educated and understand what you are getting.
Think of a treatment plan.
Often the best, and longest lasting result can appear to be the most expensive. Yet, you KNOW that if the patient takes the more expensive treatment – they may enjoy many more years trouble free! The only way to provide this more predictive outcome is with more expensive chair time and procedure time….it costs more to get a good result!! This is no different than the supplies you are using…
Knowledge is king.
Instead of focusing on the supply costs, talk to your consultants about WHAT RESULTS you will see from the supply costs….not just the cheapest, but the best.
You will soon find yourself with a restaurant that is running efficiently and a line up out the door that you can franchise!
Skill is everything. Master your skills, and hire the right team and reap the rewards!
Be good. Hire good. Win.