This article, written by Dr. Agatha Bis, Founder of UPB Dental Academy is the second in a five-part series on how to protect your dental practice from a slowing economy. Stay tuned for additional posts in the series, published each day.
Protecting Your Practice In a Market Turndown Key #2 – Connect with Patients
The Dow Jones has declined by about 28% between February 11 and March 12, 2020, driven by the coronavirus pandemic and turmoil in the crude oil markets and none of us can truly predict where this crisis could be headed. I remember the last two major stock market crises; a 34% drop when the dot-com bubble burst in 2000, and the 2007-2008 recession when we watched the markets plummet by a whopping 49%. In 2008, dental practices experienced an average of 43% drop in their revenue and it took about 4 years to recover. In this blog series, I will explain the five things I learned from the past two market turndowns to help me protect my dental practice and thrive even in the toughest times.
Key #2 Connect with Your Patients
It may seem odd to tell you that the key to protecting your dental practice in a market turndown is to connect with your patients, but it is the one thing that really helped contribute to a fast rise in my own practice in the past decade. But when I talk about connection, I am not talking about becoming friends with your patients or going around hugging them or something like that. In fact, that is the last thing you should be doing, at any time. So what do I mean by “connection” with your patients? Well, in order to define that, let me ask you a question.
Have you ever wondered how some people can always just get whatever they want whenever they want? And it comes so naturally and easily to them? Have you ever met someone who just instinctively connects with everyone, easily achieves what they want, with so little effort or pressure? I know someone like that and I used to wonder how he does what he does, how he can so easily influence people so flawlessly. I watched him for a long time and couldn’t figure it out. It was like there was something magical about his personality that I could not see or put my finger on but it was there, invisible, all around him. His energy, his personality, and his entire physiology would morph into the person he was with. When I watched him talk to a client at work, or an acquaintance at a party or an event, the person would immediately be drawn to him, instantly and flawlessly. I became obsessed with learning how he did it. Was it a gift? Was it genetic? Or did he know something I didn’t? I couldn’t figure it out. And I will never forget the first time he told me exactly what it is. And the way he explained it, the simplicity of it…well, it changed me forever.
He taught me about how to truly connect with people, all people, even those that I found difficult in the past. And at the beginning, I felt awkward. But as I applied what he taught me, as I started to see the true value in his method and his gift, it changed me. I became different, I became a better person, a better dentist, and finally learned to understand what “connection” truly means. I can’t tell you when things started to change; I can’t tell you the exact point that I saw a rise in case acceptance, a noticeable difference in elevated respect from my patients and my staff, and I can’t tell you precisely how long after I applied what my friend taught me that everything changed, but I can tell you than when it did, it was natural, it was incredible, and the results were astounding.
To learn more about connection and the secret behind what I learned that changed me and my practice forever, check out the Invisible Secret to Achieving Your Ultimate Dental Practice and check out a brief video introduction to this program on YouTube – the Invisible Secret and become the dentist you’ve always wanted to be.
Come back tomorrow for the next article in this series of 5 Key Elements to Protecting Your Dental Practice In a Market Turndown.