I love summertime in dentistry. It’s a great time to relax, take a break from routine, and evaluate how well your year is going. For the entrepreneur in all of us, I give you permission to slow down just a bit and take a look at how you can empower your team to support your business at a higher level. I call this Building Your Board.
There are two levels of advisors that I recommend every DeW create: Internal and External. These can be as formal or informal as you like and setting it up is easier than you may think.
Your Internal Board of Advisors
Internal Board of Advisors: Who better to keep you informed of things are truly working in your business than those that are doing the work! High-level teams are well equipped to support you and would be honored to serve on your board. Here are key roles: (you can call this whatever you like, make it fit for you).
- VP of Clinical Affairs: Oversees the smooth flow of clinic, the predictability of care, and the consistency in treatment planning and delivery amongst all providers.
- Comptroller of Inventory and Overhead: Seeks out wasted time, effort and inventory within your systems. Loves simplifying the ordering process, testing new products and helping the team come to a consensus on materials being used. This massively reduces supply costs and streamlines systems. DeW Insider Tip: Check out https://independent-ds.com/
- Administrative Lead: Supports the team with organization of the annual calendar of events such as personal time off, community activities, continuing education. May also oversee facility maintenance, HR duties, business and health insurance policies, and liaison with external advisors.
- VP of Growth: Reports on KPI (key practice indicators). Where are we with production, collections, new patient flow compared to the business plan for the year? Helps rally the team around goals and being goal busters!
- Ambassador of Fun! Seriously, this is a needed role in every office. What do we celebrate? How? This person is typically spontaneous, inclusive, and loves to keep the team engaged with one another. Providing a budget for activities and gestures is typically all you need. They will organize monthly themes, games, prizes and community events.
Your External Advisors
External Advisors: These include CPA, bankers, attorney, real-estate agents, financial planners, business advisors, practice management support, insurance agents. Your advisors can be local or national depending on how you request support. They can help you identify trends, stay tax-ready throughout the year, and avoid financial surprises.
DeW check out this month’s video for a few tips on leveraging your external board of advisors to massively grow your practice without spending a ton on marketing!
If you’d like to read more of Vicki’s advice, check out her other blogs here.