Mastering the act of listening can dramatically improve your communication skills and strengthen your relationships. Listening should not be confused with hearing. Yes, it’s simple to hear what someone has to say, but are you opening your mind and truly listening? 

Most practices set goals once at the beginning of the year, but as months go by, the circumstances of running the business usually change. Costs shift, capacity shifts, and the overall market changes. So, as you look back at the goals you set months ago, is performance still on track to reach those financial goals by the end of the year? Does the strategic plan need to be updated with fresh numbers? What mid-year changes need to be made in order to have a strong finish to the year? And, if you need to make some adjustments, what’s the best way to go about it? 

When it comes to gathering information, smart leaders often look to the numbers to make good decisions, but it’s important to recognize that sometimes numbers aren’t enough. And, when hard metrics are the only consideration, or when they’re used out of context, it can actually cause organizations to make poor financial decisions.

Experts agree that obtaining a mentor is critical in developing your best self. But, where do you start and what exactly should you be looking for? First things first, be sure you have bought into the concept of a mentor/mentee relationship. To truly reap the benefits of the mentorship, you must be willing to put in the work. Be prepared to ask questions, be open to hearing constructive feedback, and go into the relationship with the intention to learn. Above all, actively listen and be willing to take the advice you’re given and act upon it. 

Dental practice owners take a huge leap of faith when they first bring in an additional owner. Often, this is the first step in a succession plan to monetize their life’s work. Other times, it’s done to merge with other like-minded dentists and their organizations in order to realize some economies or diversify their risk. Growth capital and leadership resources are often desired as part of a larger growth initiative and private equity capital or other similar funds take an ownership stake as a result.