Before you open your practice, you must have the skills necessary to manage your practice. You need to learn about marketing and administrative tasks. DiCicco says she had no idea how to handle her practice expenses when she opened it. To avoid getting caught up in all of these issues, find a mentor or experienced practitioner to help you. After all, you want to be a great dentist first and a good marketer second for the economic success of your practice.
Building a brand
When you first start building a brand for your practice, you must remember that the simpler your branding, the more memorable it will become. Dentists often spend a lot of time explaining their procedures, so the key to a unique brand name is to focus on a single benefit. Consider brands like Curad, which has an emoji representing its painless procedure, and Subaru, which has the word “love” in its name. The crest is another dental practice with a memorable brand name.
Branding your practice is as important as building a successful business. Most successful companies have strong brands. Your dental practice should be no different. Branding is not only for big companies; it is also necessary for small businesses. Branding tells patients what to expect and leaves a lasting emotional impression. You can leverage this positive association and build a strong brand for your practice.
Creating a mission statement
A dental practice should create a mission statement for its practice. A mission statement explains why the dental practice exists and what it hopes to achieve. The mission statement should contain a simple sentence that sums up the practice’s core values and explains why the dentist chose that profession. The mission statement should be short and straightforward and should contain only a few sentences. Once the idea is drafted, it is time to make it stand out amongst competitors.
First and foremost, it should state the goals and values of the dental practice. The vision statement should also include a detailed description of the services provided, and the practice should also have a promise to educate employees about the practice’s culture and philosophy. A mission statement will help your dental practice gain an edge over competitors and establish a sense of brand identity. It will also give customers an idea of how the dental practice differs from others and how it differs from others.
Crafting a vision statement
For dental practices, crafting a vision statement is crucial. A vision statement explains why a business exists and what it intends to achieve. It should be short and easy to understand. Then, you need to include your team in this process. It should illustrate the brand values, the impact of the practice on the community, and the work you intend to do. The mission statement will evolve with the practice, but the process can benefit new businesses.
The vision statement should include key takeaways, goals, and objectives. Avoid including too many details. Instead, stick to the most important ones. Also, include a brief description of your practice. This will give your team a guide to work toward and lenders. Once you have an idea of the overall scope of your practice, you can move on to write the plan. Here, you can incorporate your business plan and include any pertinent information.
Creating testimonial videos
Creating testimonial videos for your practice is an excellent way to demonstrate your expertise and the quality of care you offer. These videos will give potential patients a feel for what you offer; they will also help you market yourself online. According to Google, about 90% of all internet traffic will be videos, so posting them on YouTube will increase your practice’s visibility on search engines. Even better, adequately optimized videos will also help you improve your SEO.
When creating a video testimonial, get the patient to answer questions you have prepared beforehand. For example, you could ask the patient what they would like to share about their experience in your practice. You can ask them questions such as “What did I like about my treatment?” or “Did you like the advice I gave me?”. Make sure to film the video in a well-lit area so it’s not too bright or distracting.
Finding financing
There are several options for finding financing when starting a dental practice. Bank loans, low-interest business loans, and SBA financing can all be utilized to fund a dental practice. While the SBA is not a lender itself, they partner with several lenders to offer loans that meet their stringent requirements. Applicants must have exhausted all other forms of financing and meet specific size requirements before being approved for an SBA loan.
An SBA loan may be the right choice for those with less than perfect credit. These loans are designed for short-term use and may require a lower credit score than a traditional bank loan. Short-term loans are often available for dental practice owners who need money for payroll, taxes, or insurance premiums. In addition, these loans can provide a necessary injection of capital that is necessary for a new practice to begin running smoothly.
