Avoid Common Dental Start-Up Mistakes

Starting your own dental practice is one of the biggest steps a dentist can take in their professional career! Don’t start a company without first understanding all the multiple roles that first need to be filled in order for your dental start-up to grow and thrive.

Below are a few ways to minimize mistakes in the process of building your practice:

• Do your homework- Make sure you know the market and the area, speak with other practice owners to find out what sort of challenges they faced and how they overcame those challenges.
• Build a network- You will need help from several people and it would be smart to build a network of trusted advisors to help you with your practice start-up. These people include contractors, CPA’s, dental equipment specialists, and lenders. CTC National already has rapport with people in these areas and can get you in touch with them.
• Secure financing- The interest rate on your loan, if you need one, is not the only thing you should be focusing on. You also need to take into account the loan term and structure, lender service levels and pre-payment.
• Maintain a high level of credit worthiness- Your credit is so important, both personally and professionally. A low credit score can impact the quality of the loan you receive.
• Have a business plan- Be specific and include protocol for exams, diagnoses, and quality care.
• Stay on budget- It is crucial to the success of your practice to create a detailed budget and stick with it!
• Establish your professional goals- Create short, moderate, and long-term goals. Be disciplined, as you are the one in charge of the performance of your practice.

As a dentist today, you have so many resources available to you to help shorten the learning curve and minimize mistakes. Don’t be afraid or reluctant to tap into these valuable resources! CTC National can help with the entire process, from start to finish. Our expertise is centered in buyer representation, scratch start-ups, associateship, partnerships, office-sharing arrangements, business management, team building and leadership training. CTC National is the company to guide you through your dental career and provide you with the tools necessary to reach success!