What to do when a corporate opens nearby. First Published in Private Dentistry…2 of 2
What is the corporate doing that you could be doing – and be doing better? Now is the time to take those course that you have been postponing. Invest in yourself, your skills and those of everyone in the practice. Where are your “blind spots”? What skills are you, your associates and support team lacking? Get out there and get refreshed, it will do everybody good.
7 Up your business game.
Get out of any business comfort zone you may have been enjoying. Set personal and business goals. Make sure your financial controls and monitoring are as good as they can be. Brush up your sales process by ensuring everybody understands the importance of every stage of the patient journey. Refresh your internal marketing.
8 Ride with, and learn to avoid, the punches.
People will leave, the unexpected ones, the ones that you have moved heaven and earth to help. That will hurt; you’re a human being, of course it will hurt. There is a possibility that there will be a fall in new patients calling. Accept it, use it as a chance to look backwards at patients who you haven’t seen for a couple of years and reactivate them.
Beware of getting dragged into a price war with the new business who will be using loss leaders and offers to attract new patients. There’s no such thing as a “free” examination, just a consultation with someone who isn’t qualified to give a full opinion. A price war is a race to the bottom, keep your eyes upwards, make quality your mantra in everything that you do.
Let patients “leave” with your blessing, they’ll be back. Be understanding, be helpful, offer to share notes and radiographs. Keep them on your database (with permission) so that they get the regular newsletter, the news of the people, the offers, the inside track.
In my experience the best way to drive business to a private practice is an NHS corporate opening across the road. When they come back, and if they don’t return you really do need to take a long hard look at yourself, welcome them, listen to what their experiences have been and what they have learned. Then learn from them. Delight in their return, welcome them home.
10 Celebrate your independent success on your terms.
The patients who attend are coming to see you and your colleagues. The help you give is what you think is appropriate not set down and governed by a spreadsheet. The targets you set are your targets, flexible enough to be realistic for your patients.
The history of post-war Britain is for successful small firms to be swallowed up by large ones and for the intrepid owners to move on and start again. You cannot take on the “big boys” on their terms so don’t try to do it. Discover your niche, work at it, celebrate it.
Look at the big picture, you aren’t competing with the corporate you’re competing for the discretionary spend with holidays, cars, gym membership and consumer goods. Put health and individuals at the heart of your business, be honest with yourself, your team and your patients and you will resist this and other challenges.