Simplifying Your Dental Practice with Vicki McManus – 011

I don’t even know where to start with this one. Vicki is flat out super smart, an accomplished business woman – and gobs more.

Part of growing is being able to discern who to listen to, and what to implement.

Vicki is one of those people. Listen up on this one!

Our podcasts are interviews between Justin Krane, Krane Financial Solution’s President, and various professionals, one or more of which are or have been Krane Financial Solutions clients. However, nothing stated within the podcasts should be considered a testimonial or endorsement of Krane Financial Solutions or Justin Krane, and the professionals have not been directly or indirectly compensated for being interviewed.

Vicki practiced clinically as a dental assistant for 13 years while continuing her education in marketing, finance, and business management. She began to see a need in the industry where dentists and healthcare providers knew little about running a successful business. She took control and came up with a business plan to fill that need better than anyone else.

Vicki Co-Created the Productive Dentist Academy and Neighborhood Smiles Project. She is the author of Frustration: The Breakfast of Champions: Turn Powerful Emotions into Career Success. Her book teaches you how to turn frustration into a powerful force in your life.
**SCROLL TO THE BOTTOM FOR THE VIDEO!**

The Problems in Dentistry

Vicki believes most people in the dental industry suffer from PTSD due to the stress of being a dentist.
This is a recipe for disaster – unless you find self-care.
The biggest mistake dentists can make is outspending their profits.
You should make sure that there is a need for a purchase before you buy.
She feels dentists would benefit from more financial training.

Simplify Your Business

As business owners, we need to simplify the process.
For example, if you want to produce $800 an hour then you need to schedule $800 procedures for those hours.
But to figure this out, you first need to slow down and become clear on what it is that you want.
Then you need to have an engaged team to work with, to engage in that vision.

ROI in Your Business

Vicki has a formula for figuring out how to break into more income.
She starts with a P & L where she looks at everything – personal overhead, personal debt, business overhead, and business debt.
From there, she adds it into a spreadsheet and figures out what is needed to breakthrough.
She makes sure that the doctor is compensated, both as a producing dentist in their practice, but also as a return on investment for owning it.
Financing is a better plan than discounting since you are still making money every month.

Uplevel Your Team

World class customer service is so important.
Great customer service is part of marketing.
If you do not have great customer service, patients will not come back or refer others.

Best Quotes:

“So you have to find a way to unpack your emotions, digest around in there internally, then get together with your team, process through it, and then move forward.” (3:38)

“The stress of being the practitioner dentist and having to deal with these kinds of things is tremendous.” (19:43)

“It never is about working harder. In fact, the more relaxed you are, the better everything soars. Because when you’re relaxed and you bring your creativity and you bring your best … it gives permission for everybody around you to bring their creativity and their best.” (22:35)

“So it’s just having the courage to extend the invitation. That’s what I call relationship marketing is extend the invitation. And then take great care of people.” (37:27)