Under the influence of the 8 Permanent Game Changers, dentistry has been in a state of flux for several years now. Unfortunately, some dentists react negatively to change, rather than accepting and adapting to it. As a practice owner, you can lead your practice successfully through uncertain times by scrutinizing new scenarios as they emerge for business growth opportunities.
Learn to recognize and respond to inflection points. An inflection point is something that deflects your business from its established trajectory. Depending on how you react to it, it will either help or hurt your practice. Get in the habit of analyzing how changes may affect your market and your business. Then figure out what you and your team can do to take advantage of the coming shift.
Don't feel threatened by threats. Think of changes that seem to threaten your practice as sources of innovation. If a new competitor opens a practice down the street, you could lose patients. But it could also be the stimulus you need to implement new systems for increasing production per patient by adding new services and improving your case presentation skills.
Roger P. Levin, DDS, is the chairman and CEO of practice management consulting firm Levin Group. You can connect with Levin Group on Facebook and Twitter (@Levin_Group) to learn more strategies and share ideas. Also, check out Dr. Levin's free practice management videos at www.levingroup.com/gp.
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