Managing Dentist Practices: the Secondary Herds in Your Dentist Practice

Who are the secondary herds in your dentist practice

? In this article, I will share to you who the secondary herds are in your dentist practices as you are managing it. I will also give you the idea why these herds are also very important in the growth of your dentist practices as you are managing it. As you are managing your dentist practices, nurture these herds as well, as it is one of the most important assets in your practice. And this is something we focus specifically at our dentist practice website!

So, who are the secondary herds in your dentist practice? The secondary herds are the people you currently have relationships with. They are your family, your friends, your alumni, or every single business owner that you participate and have relationships with. Now, one of the things we often overlook are the business owners. In managing our dentist practices, we're so aggressively ready to spend a ton of money on external marketing, which is smart if you're doing it correctly. But we have these hidden diamonds... these hidden assets sitting all around us that we are not utilizing. And one of the things that I like to teach my clients is that they should always go back to ground floor business building and think strategically, rather than have them just spend money and have them hoping for a bunch of money to come back to them.

I like to tell people: Well, do you know business owners who already have their own herds?". And it is because if you can do a joint venture relationship, or referral relationship with a business owner, or co-op relationship, where they spend money and you organize it, and when you get a free advertising, you can have a ton of patients coming into you or clients coming into you from other business owners! So let's focus on that and stimulate your brain a little bit. Let's take for example a business owner, and I ask him Who do you hire to do your plumbing?, or What contractors do you hire to do the cement?, or "Who are you hiring for this kind of task or job?", etc. Well, as you can see, that guy knows a ton of people, right? For example, he has a window guy, and this window guy has a client base. Now, I want to create a relationship with him or her. And so you can go down and down the line of that, and those people are already people that you have invested money with, you already have a relationship with; and there is some built-in "reciprocity" already because you spend money with them, and you're giving them business. Now, the more logical and probably the more real business owners that you, as a dentist, would go after as you are managing your dentist practices would be owners of more physician-types of businesses. On the other hand, I would tell you that it's probably false thinking in your part if you just limit to other physicians. And here's why. It's because a lot of times other physicians are clueless, and they're so insurance driven, and so medical-oriented that they don't understand that they are actually growing a business! The exception to that rule are usually cosmetic surgeons who understand it. You'll see a couple of chiropractors who will get it. But I rarely heard anything good about it so i would go to them for joint ventures, but I think the overlooked ones are the people who make all their money and referrals. So, I think of realtors, mortgage brokers, financial planners, insurance reps, and I even think of a good lawyer who understands the business side of it!

You can create a relationship that I call your Power of 51. In here, what you're looking for are 51 business owners, or sales reps, or people who need referral relationships; and over the next 3 months, 6 months, or over the next year, you can start putting them on your mailing lists, start sending out some newsletters, and start nurturing those people! And start taking really, really good care of them and differentiate yourself. (You can send them books like Pour Your Heart Into It by Howard Schultz, Good To Great! by Jim Collins, and Screw It, Just Do It! by Richard Branson... and I assure you that they'll appreciate it because these books are good to read, and you just can't go wrong sending it to them!). Now, the reason why I say pick 51, is because out of those 51 people, you're going to find that 80% of them will never probably do, maybe they might send you one referral or do anything with you. But on the positive side, you're going to find the top 20% of them who are going to be your true champions! You're going to find 10 15 people who are going to create a strong relationship with you and create your own automatic referrals. So, that's how you create a secondary herd as you are managing your dentist practices. Take good care of them, nurture them, and let them grow as well! Log on to our dentist practice website, www.DentistProfits.com and get a free CD and Book titled, How To Predictably Grow Your Practice 25-35% Every Year While Enjoying More Control, Time Off, And Bottom-Line Net Profits!.

Managing Dentist Practices: the Secondary Herds in Your Dentist Practice

By: Ed OKeefe

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