Welcome to the third installation of The Making of SMILE & CO.! Being a business owner can be astronomically difficult, especially when expensive dental equipment is taken into account and the practice is built completely from scratch. Join Michael Arias as he speaks with Dr. Ashley Joves about the hands-on creation of her dream practice.
Today's Sponsor
Dr. Anissa Holmes specializes in helping dentists market their practices through Facebook. After using Facebook to boost her second dental startup into a multi million-dollar company, she decided to help other dentists achieve the same results. Take her live masterclass, FBIGNITE and learn how to use Facebook to exponentially grow your business! Learn more about what Dr. Holmes offers on her website, deliveringwow.
[0:01] ��� Michael tells us about Dr. Anissa Holmes and her revolutionary Facebook masterclass for dentists.
[0:51] ��� A quick recap about Dr. Ashley Joves and her journey to create a revolutionary dental practice from scratch.
[2:01] ��� Although countless people believe that emotions should never play a role in business, factors such as emotional intelligence can help us succeed.
[3:13] ��� According to inc.com, there is no such thing as a purely logical decision; our emotional intuition will always play a role.
[4:09] ��� Ashley describes her opinion about the role of emotions in business.
[5:45] ��� ���I've been doing a lot of the not-sexy stuff,�� Ashley says. In other words: paperwork, emails, 300+ messages��_
[7:00] ��� Ashley uses Wells Fargo to cover particular fees, such as wiring fees.
[9:15] ��� After changing the name of her practice from SMILEBAR to SMILE & CO., Ashley paid a total of $1,200. ���You couldn't just hit backspace on your keyboard three times?�� Ashley wonders. She suggests checking whether the name of your future company has already been trademarked before sending it in for official approval.
[14:45] ��� Plenty of backend costs and processes have taken a major tole on Ashley's sleep and emotions.
[15:50] ��� ���A good dental chair can enhance the patient experience.�� According to First Impressions, comfort is one of the most important factors of customer satisfaction, given your practice itself is well-designed.
[20:30] ��� Demographic work is important for making major decisions about your practice.
[23:45] ��� While on maternity leave, Ashley lacked solid income and lost backing from banks. Her husband earned a higher income and potential income, helping her obtain the bank resources she needed. Ashley chose Wells Fargo because they reached out to her with advice: to prepare a business plan before asking banks for money, which also causes different banks to compete for you.
[32:19] ��� Michael talks more about Dr. Anissa Holmes's Facebook Ignite!
[37:50] ��� Michael speaks with Ryan about how he managed to work with Ashley under such fantastic rates.
[43:20] ��� ���Student loan debt is one of the better debts to have,�� Ryan says. The monthly payment is nothing compared to the return of your practice.
[51:20] ��� Ryan highlights the benefits of working with an industry-specific lender.
[53:00] ��� Find Ryan at this website! With a few clicks you can find somebody like Ryan in your area.
[53:30] ��� Ashley used the Breakaway Startup Series to guide her ���dentagraphics�� journey. They will provide a fantastic report about where you should place your practice based on information you plug in!
[1:03:06] ��� Although you may never find the perfect location for your practice, Ashley believes that simply showing your face at local events and community locations will send you a long way.
[1:06:00] ��� ���I plan to give my cell phone number to my patients,�� Ashley says. She believes that medical experts should be easily accessible, despite the possible side effects.
[1:11:30] ��� Biggest Headache of the Week: Suddenly, Ashley was bombarded with 1-star reviews across her social media. She reported each individual profile to Facebook in order to resolve the problem.
[1:14:55] ��� #ResourceOfTheWeek: Check out Nifty Thrifty Dentists on Facebook! They provide awesome tips and tricks that will save you money in every corner of your practice. ���Everything costs an arm and a leg,�� Ashley emphasizes. It can be helpful to work with other dentists to create new, innovative ideas.
[1:16:20] ��� This week, Ashley learned a little bit about herself. ���Balancing being a good person has to be separated from the business side,�� she says. Although she doesn't want to hurt the feelings of others, Ashley has to preserve the creation of her business, not to mention her personal sanity. Think about yourself and worry less about burning bridges!
[1:16:20] ��� Ashley sums up the challenges of being a business owner, or, as she phrases it, the ���not-sexy stuff.��
[1:21:40] ��� #HelpADentist: Ashley wants to know which pieces of equipment should be high-end and what can be purchased from eBay. For example, she has her eye on a fantastic inter-oral camera, but the price tag might be too much. Are there resources that might help her? Where should she cross the line between high-end and saving money?
[1:23:20] ��� Learn what's next for Ashley and tune in to episode 4 to learn how it goes!
3 Main Ideas
Many people believe that emotions should be removed completely from professional business ventures. Clearly, the fear of cutting ties from people and sending out negative messages is difficult for Ashley. Are factors such as emotional intelligence important for business? Should she approach her new practice with rock-hard skin? Try to find a balance between taking care of yourself, maintaining your business, and nurturing your values.
Demographics���or ���dentagraphics,�� as Ashley calls it���is a vital tool for planning your dental practice. Although resources such as the Breakaway Startup Series can help you better guess where your business can thrive based on personalized information, Ashley believes that practicality and the desires of your life should always be the priority. Regardless of where you place your practice, make your presence known throughout your community.
Before asking banks for money, prepare a business plan. They will be more likely to wave aside certain issues if you put time into and get serious about your intentions. Furthermore, the given banks might even compete for your business. Also, find a lender who specializes in your industry. They will be of greater help and supply you with advice and resources that are better tailored to your needs!
Help-A-Dentist
Starting a business can be an expensive venture. When that business includes the specialized equipment of a dental practice, it becomes head-bangingly astronomical. Ashley wants to know which pieces of equipment should always be high-end, and which pieces can be purchased from sources such as eBay. What other resources could help her? Do patients notice, for example, when an inter-oral camera isn't the most favorable model? Send her a message here and let her know!
Resource Of The Week
Check out Nifty Thrifty Dentists on Facebook! They provide awesome tips and tricks that will save you money in every corner of your practice. ���Everything costs an arm and a leg,�� Ashley emphasizes. It can be helpful to work with other dentists to create new, innovative ideas. Their website is another resource where dentists across the globe can collaborate and work together to form new methods and creative ways to save.
Find Out More
Follow Michael Arias on Instagram or Facebook and improve your dental practice every day!
Listen to more podcasts and learn more about The Dental Marketer on hiswebsite.
Remember that Ashley's revolutionary dental practice is being built in real time. Follow along her incredible journey and send a message to her Facebook account if you have any questions!
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