Starting a dental or optometric practice comes with challenges, including choosing the wrong location, failing to plan for growth, and underestimating the importance of employee investment. Entrepreneurs should conduct thorough demographic analyses, establish clear goals, and focus on effective communication and training for their teams. It is essential to maintain a vision for the practice while considering outsourcing to specialists for various business aspects.

1. Five Common
Problems to Avoid
When starting a Dental or Optometric Practice
Brought to you by

2. Starting a dental or optometric
practice is challenging, and at
times, completely overwhelming.
We want to briefly outline five
common problems to avoid.

3. Not accurately
evaluating
location.
1

4. Questions you should
keep in mind:
1. Are there other practices nearby that offer similar
services?
2. What does the demographic data reflect? Is the area
composed mainly of retirees? College students? Young
families?
3. Does your practice have room to grow, or are you
restricted by building or zoning codes?

5. Questions you should
keep in mind:
4. What is the total population of the area? Is it growing?
5. Is the practice easily visible and accessible from a major
roadway?
For an example of what a solid demographic analysis may
entail, click here.

6. MAIN
IDEA
Real estate professionals preach
“location, location, location” for a reason:
It is vital to have a thorough
understanding of the area in which you
wish to locate long before you open the
doors to your practice.

7. Failure to plan
for future
growth.
2

8. In a competitive
marketplace, determining
your practice’s future
success depends upon
having clear goals in mind
from the very beginning.

9. Working with a marketing team
contributes to brand
development and extends the
value of the practice. Realize
that in order to remain
profitable, a business must
continue to expand.

10. Not knowing
what you don’t
know.
3

11. It’s often more efficient to
work with a firm that
specializes in providing
expertise in a variety of
business-specific areas.

12. ● Creating a solid business
plan for future growth,
including brand
development and
budgeting
● Insurance credentialing
● Market analysis
Such as:
● Return on investment
(ROI) measurements
● Financial information,
including establishing
accounting architecture
● Aligning lenders and
lending programs

13. MAIN
IDEA
The key to starting an effective and
successful practice is an
understanding of where you need
assistance and where it makes
economic sense to outsource.

14. Failure to
invest in
employees.
4

15. With the myriad of legal and
financial documents
involved in starting a dental
or optometric practice, it
can be easy to overlook one
of the most important
investments for your
business: your employees.

16. Make sure that your
team:
▪ Is comprised of
effective
communicators.
Solid communication
skills foster
efficiency.
▪ Is trustworthy.
● Has received extensive
training. A well-trained
team will provide more
consistent, high-quality
customer service.
● Has a strong commitment
and worth ethic.

17. Make sure that your
team:
▪ Feels valued:
employees who have
high job satisfaction
rates tend to be more
positive in their
interactions with
patients.
▪ Works with you to
set clear, specific
goals for the
practice.
● Shares your vision
and goals for the
practice.

18. Forgetting
your first love.
5

19. Did you become a dentist to look at
spreadsheets? Was your vision of
becoming an optometrist linked to
project management checklists?

20. From visiting a potential site to selecting lenders
to negotiating contracts, it is easy to become
overwhelmed by the details and fail to see the
larger picture.
01
Don’t lose sight of the reason you
wanted to start your practice in the
first place.
02
Consider outsourcing projects to
firms who may have greater
expertise.
03
Concentrate on the bigger picture:
where do you see your business in 5
years? In 10 years?
04 Don’t spend your valuable time trying to become
an expert in everything.

21. Starting your practice will be one of
the most rewarding things you have
ever done.
Embrace this exciting adventure by
solidifying your practice philosophy
and communicate it to all those
involved in this venture.

22. Brought to
you by
www.practiceadvisors360.com