By Dr. Tom “The Gems Guy” Orent
According to the Wall Street Journal, “Economists think the next U.S. recession could begin in 2020. Surveys find that more than half of economists see downturn by 2020, a presidential election year.” Fact is, we are currently nearing the end of the second longest sustained period of growth in U.S. history. Harvey Mackay titled his book, “Dig Your Well Before You’re Thirsty.” Things are still pretty darned good, and we know they’re going to take a turn for the worse sooner than later (i.e. likely in the next 14 months). There is no time like the present to grow your practice and your revenue (dig your well before you’re thirsty)! BOLD PROMISE If, during the next 12 months, you do what I’m about to recommend in this article, you’ll increase your practice revenue by at least $100,000 per full-time Dentist in your practice. Solo doc? Then this is an easy, six-figure increase if you follow my lead and effectively deploy my “Pentagon Strategy.” Two docs in your practice? Then you may enjoy a $200,000-plus increase. HARSH REALITY Only a small percentage of the Doctors reading this will actually do most of what I recommend, but some will. And since some will … why not ensure that you are one of them! Our members' level of action on the Gems I’m about to suggest will fall on a bell curve. The good news is that the majority of
our members will deploy perhaps two or three of the five strategies and still do incredibly well.
(concept) at a time. Chances are, you may already be doing several of these “Gems.”
Even if you’re “already doing that,” don’t just cross this or that off the list. Even the best run practices can do better on most, if not all, of the five walls of the Pentagon. Your patients will be the ultimate beneficiaries as well they should be. Their health and longevity are our primary mission. Take great care of them and your team will have more fun, professional satisfaction, and you’ll all make (much) more money. So, let’s get down to “brass tacks.” We know the economy is soon to plummet. What can we do today to ensure we’re in a far better position tomorrow ? "If, during the next 12 months, you do what I’m about to recommend in this article, you’ll increase your practice revenue by at least $100,000 per full- time Dentist in your practice." PENTAGON SIDE NO. 1: CALL CENTER OPERATIONS Relax, I’m not going to suggest that you hire a room filled with telemarketers to work in your office. Well, not exactly . There are two giant, likely as-of-yet untapped opportunities in your practice. Both can be “mined” using the same
RELY UPON THE PENTAGON FOR STRENGTH
How will the Pentagon help you weather the coming financial storm? Well, it’s not the actual Pentagon. (The Department of Defense likely has more on their plate than making sure we Dentists continue to make a great living.) Rather, I’ve used the Pentagon as a metaphor, a way for us to envision a strong, fortress-like building with five equal sides. Each of the five sides represents a critical piece of your revenue defense puzzle. When planning your defense, anticipate two or three months for each of the five sides of the Pentagon. Start right away. By the end of 2020, regardless of the timing or depth of recession, if you effectively deploy most (or all) of these five strategies, you’ll do very well. Always remember TOBI, “The One Big Idea.” I urge you to take your time and invest at least a couple months, focusing on just one wall
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