Australasian Dentist Magazine March April 2021

Category 116 Australasian Dentist L et us face the facts: we don’t go into dentistry with a plan other than we owe a lot of money to student loans etc. So how do we create wealth? What do I mean by wealth? Money, well yes, but real wealth comes from a culture based upon mutual respect and admiration, and a belief system that features all members making a contribution that means something. Let’s break that down. I have seen dentists work themselves to exhaustion and feel no joy at all. Others call me in frustration and say I can’t do this anymore – why? My journey into dentistry was set out a little differently than most. I had a vision for a multi man office doing everything, I mean everything, and as such I had to learn it all, and then to my dismay I found out what I could do and not do. A light bulb moment: hire other people and then I’d find other people like being dentists and I liked the business of dentistry. Wealth, as I see it has been for me about solid work ethic and a business attitude, to the cottage industry. So investing in technology was crucial education, was vital, but paramount was people skills, something that fortunately came naturally to me, as an extrovert, I could manage this easily. So what about wealth? My view was that real wealth came from: 1. Happy staff 2. Growth in numbers, but with a measured risk 3. Leverage both in the industry and out (banks ) 4. Hiring to suit production 5. Risk taking ,with upside view 6. Entrepreneurial chance 7. Being in the mindset of lets be the best we can be 8. Not taking no for an answer. Staff My late father ran a small business, making lunches and food. He always said your staff are your business. He had sense of humour, (most dentists I know didn’t) and he was firm but knowing in conversation with staff. Generous to a tee, with cash rewards and gifts aplenty to all the staff. I have always invested in my staff, training, new ideas and most of all inclusion, in all projects. There was never a day that went by when I would not include them in any thinking, of any new ideas and vice versa they would gradually come to me with even better ideas. In all my years of training other dental offices I think I saw this in less than 10 percent, and even today the people who consult with me, have not realised the wealth that exist in their staff. To take a staff member and enthuse them with the power of free thought and even more free spirit seems foreign here, and yet the smiles and happiness when you see a staff member deliver something big, tangible and relevant, is hard to describe. When I question others, get negative replies, “Why would they want to? What incentive is there? And to that say CREATE IT….. Over many years we have sent staff all over the world paid for by me to bring back amazing technology and ideas, and many of these folks would never have dreamed of travelling to Sweden or the USA, or Germany and the credit we got was wonderful. Subsequently I have run staff seminar back here to teach the unteachable with varying results. But the real wealth comes from taking a young person and giving them a chance, and watching how they do it. This year I have prepared three one hour seminars on how to: ‘CREATE WEALTH IN STAFF’ and will be happy to deliver and I would be happy to organise. The concept of staff, running the business seems foreign to professional people, and yet they know more than us, at a cultural level. Another aspect of staff is to review salaries regularly. Oh no! I hear you cry? To this day am not sure why dental office, staff, and management cannot get this sorted? Most staff are well paid, but do you show them any respect when annual review time comes up? Most people say, “What annual review?” In my office annual reviews are mandated, and we ask the staff to review themselves. Yes we get some doozies sometimes, but most of the time we get very good personal reviews. We then, look at them, discuss and may or may not make recommendations. u Next month we will do 2, GROWTH IN NUMBERS, and will show you a no cost way to do this easily. Contact Dr Harry on 03 9575 1100 Dr Harry Marget How to create wealth in dental practice By Dr Harry Marget columnists