When you were in dental school, learning at a mile a minute, struggling to remember the difference between mesial and distal and just trying to find a few hours to sleep… how much time did you spend focusing on the fact that you were going to end up as a Small Business Owner? Ahhh, dentists, yes, small business owners - but sometimes they are not very good at business. Yet they aren’t to blame; they’re really not taught business in dental school.
I recently surveyed a group of dentists and asked, if you could do it all over again, what would you do?
- Become a specialist
- Not pursue dentistry in the first place
- Get your MBA
The overwhelming answer was “C” - obtain an MBA.
As a small business owner, you need to generate profit - or you will soon find yourself OUT of business. So where does your profit come from anyway? What is it you’re actually doing? You’re producing, but by producing I don’t mean $$$$$. Production is dentistry and dentistry is helping people. Being more productive ultimately allows you to help more people. And this is the important point - if your business is helping people - then helping people is GOOD FOR BUSINESS - and in more ways than one. When you decided to open up your small business, did you factor in a plan to give back? Giving back to the community you live in is good for business. But, how can you be profitable when you’re giving services away? Great question. My niece will graduate Summa Cum Laude from Kent State University this May with a double major in Forensic Science and Philanthropy.
“Why philanthropy?" I asked.
“Because I want to do something good,” she said. “I want to help people.” There aren’t many 20-somethings who actually make a concerted effort to graduate [with distinction] in a course of study that includes working for free.
Dentistry From The Heart at Perfect Smiles in Seekonk, MA.
Think about it though. Why did you choose to become a dentist? Did you become a doctor for the paycheck or did you become a doctor to help people? By helping people, you tell someone you care for them and respect their needs without selfishness. This is the type of culture people want to be a part of. Did you want to be a small business owner who hires individuals who share the same values? This is the type of culture that attracts people to your business.
I work for an incredible organization. My boss, Dr. David Ahearn, has instilled “giving back” in all of his businesses. For the last 9 years, Perfect Smiles, Seekonk, Massachusetts, has consistently given back over $50,000 in annual free dental care to its local community. In 2019, we hosted a Service and FREEdom event on Veteran’s Day. The event served as a way to give back to local veterans and first responders.
This commitment to the community carries over into Design Ergonomics, Ergonomic Products and Reboot Training as well. In 2016, Design Ergonomics, Jay Geier of The Scheduling Institute, Ed and Patti Pease from World Mission Partners opened a much needed 6 operatory dental clinic in La Romana, Domincan Republic. El Buen Samaritano opened its doors in July 2017. The facility will provide dental care to those in need. And while it will also create jobs for the locals, the clinics thrives on the donated time of the many dentists who visit and provide services.
Dr. Vincent Monticiollo, a dentist in New Port Richey is a business owner and philanthropist. He started Dentistry From The Heart over 16 years ago. It’s a “non profit dental organization working to supply the world with free dental services”. They team up with many dental providers to offer dental care to those in need. It is a one day event held once a year anywhere around the country. I have been privileged to have an opportunity to volunteer at many of these events. The first time I volunteered, I was overwhelmed with the number of people standing in line for dental care.
The meaning of giving back is more than just offering a free day of dental care. It’s about creating a culture in your business. Have you ever heard of Figs? Not Fig Newtons but Figs, the scrub company? Entrepreneurs and Co-founders Trina Spear and Heather Hasson put together a plan to “revolutionize the antiquated medical apparel industry, through its use of ridiculously soft and technical fabrics that are tailored to perfection.” They started a Threads For Threads initiative, for every set of scrubs sold, Figs gives a set to a healthcare provider in need.
Chad Brooks, Fox Business, wrote in an article “Socially Responsible No Longer Optional For Business” published 24 May 2013, “more than 90 percent of shoppers worldwide likely to switch to brands that support a good cause, given similar price and quality”. The culture at Figs is not just to see how much they give back but rather how many lives they touch by fulfilling their mission. Now, that’s a company I want to do business with.
This is not charity guys, this is helping people. It’s part of a culture! It is not a coincidence that dental practices who give back are among the nations top 1% in production per hour. It is because they give back that they can have such a distinction. What is it about your dental practice that sets you apart from the rest of the field? Your personality is one component, but it is not unique. It’s a combination of values, leadership, influence and the systems you have in place that make the difference.