What generates the highest ROI for dental practice owners?
There are at least two kinds of ROI. These two are mutually exclusive.
Risk of Inaction vs. Return on Investment (ROI)
Inaction regarding something worthwhile obviously has bad outcomes that are detrimental not just to practice owners, but also to their staffs and to their families.
So what action can you take that has a higher, positive Return On Investment than any dental procedure?
What generates the highest (good) ROI?
The exciting, amazing, downright euphoric answer to this question is … wait for it…
“strategic planning for your future and the future of your practice.”
While the topic may not seem exciting, the results are. Actually, the results of strategic purposeful planning for your future can be astounding!
Think of everything on your personal wish list. With strategic purposeful planning, you can experience more time with family, greater income and more peace about the next chapter of your life.
If a little strategic planning goes a long way, why don’t more practice owners do it?
Why don’t many practice owners do strategic planning?
Some practice owners are unaware of the significant financial and personal benefits that are possible with strategic practice planning.
Because of owners’ busyness, it can be challenging for advisors to get the necessary time they need to effectively advise practice owners.
Practice owners have limited capacity to add things to their schedule.
If the strategic practice planning is tedious, practice owners will not complete it.
Time management expert, Hyrum W. Smith, says:
“We are all caught up on the treadmill of life, with detrimental consequences. [Practically speaking], time is the occurrence of events in sequence one after the other…the only things that I can control about time are the events in my life.”
People make time for who and what is important to them.
How can you start strategic planning for your future today?
Does working less in order to spend more time with friends and loved ones while increasing profitability, increasing the value of your practice substantially, and increasing your odds of landing safely when you retire someday, sound good to you?
Practice Value Acceleration℠ (PVA℠), provides dental practice owners with clarity and control over the future of their practices through a comprehensive analysis of financial, practice management and owner psychology factors.
PVA is a service for long-term practice transition planning that maximizes your profitability, enhances your practice value, and gives practice owners like you greater peace of mind.