The Savvy Dentist Podcast- with Dr Jesse Green
The Savvy Dentist Podcast- with Dr Jesse Green
Strategies to help ambitious dentists accelerate the growth of their practice so they have more patients, more profits, and less stress.
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How To Turbo-Charge Your Business The Easy Way

How To Turbo-Charge Your Business The Easy Way

11/22/2016 7:00:00 AM   |   Comments: 0   |   Views: 72

Let’s face it.

Building a business is hard. It’s lots of hard work. Lots of time. And lots of effort.

Some days it feels like all your life revolves around your business.

Like all you do is keep trying. Without necessarily seeing the results you crave.

But what if there was an easier way?

What if you could build your business without so much time, energy and effort?

There’s a secret to building a business that not many people know about.

You see, many business owners make the mistake of thinking they have to do it all themselves.

They forget that building a business is a team sport and that there’s not enough time in the day to do it everything alone. By trying, you’re likely to end up burnt out.

You’re also likely to end up being beaten by those who understand that the most successful enterprises are built by partnering with others.

Remember this formula:



Wealth = Value x Leverage



Where: 
Value = your intellectual property, your solution 
Leverage = doing ever more with ever less


So how do you utilise this knowledge?

In a word: partnerships.

As Glen Carlson, the co-founder of Key Person of Influence Australia says:



“In order to build real wealth and success, you will need the “spirit of partnership” flowing    throughout your entire business.”



What’s Great About Partnerships

Partnerships provide excellent leverage and are often referred to as the ‘money step’ when building an enterprise.

The spirit of partnership is not about a legal definition or contract. It is not about finding other businesses to transact.

The spirit of partnership is about how you approach the partnership.

The spirit of partnership is based on the premise that whatever resources you currently lack, someone else has in abundance.

In a true partnership, the relationship is underpinned by a win-win mentality where the parties benefit more by operating together than if they operated in isolation.

A true partnership requires commitment from all parties and in the event of something going wrong, all parties work closely together to resolve the issue.



Types of Partnerships

 In general, there are 5 types of partnerships relevant to dental practices.

1. Brand Partnerships
    Partnering with a person or a brand who enhances your reputation.

2. Product Partnerships
    Partnering with people or organisations that can add to your product offering and add value to your                     patients /referring practitioners.

3. Distribution Partnerships
    Partnering with people (or businesses) who can get your offering in front of more people.

4. Introductions
    Partnering with people who can introduce you to key people.

5. Insights
    Partnering with people who provide intelligent insights based upon real-world experience.


Corporate Programs

A corporate program represents a partnership between your practice and another business for mutual benefit. The benefit to the other business could be related to staff, customers or something else.

The key is to find out what problems your partner is having and how your program can help solve their problem.

A corporate program can be any of the 5 types of partnerships but typically relates to the first four in the above list.



How To Create A Winning Partnership

Ok, so you’re interested in this idea of partnerships. But it’s risky.

I mean, how do you create a winning partnership? A poor partnership has the potential to do you damage – and no one wants that.

Choosing a prospective partner requires careful consideration.

Depending on what type of partnership you are looking to embark on, you could ask the following questions.

Who do you know or know of, who already has…

1. An influential brand? Who already has influence? Who has a great reputation?
2. A quality product or service? Who is already pleasing their customers? Whose product or service do you wish     you had invented?
3. Who has a big customer list? Who is already selling to your target market?
4. Who is well connected? Who is known and trusted by a lot of your ideal patients?
5. Who has special insights on best practices in your business? Who’s previously achieved what you want to           achieve?


Boost Your Business


You don’t have to build your business the hard way. You can build it the smart way.

By partnering with compatible brands or businesses you can take a savvy short cut. A short cut that few other business owners utilise.

You’ll boost your business the easy way.

You’ll be the envy of your competitors.

And you’ll be helping out the business who partners with you too.

It’s a win-win.

So what are you waiting for? Do a little research, and start shortlisting partnerships today.


 
This post first appeared on Dr Jesse Green
______________________________________________________________________________



e-guide

 About Jesse

Dr Jesse Green is a dentist, entrepreneur, best-selling author and renowned thought leader in the field of dental practice management.

Grab your free copy of How to Build a High Performance Dental Practice, and have more patients, more profit and less stress, now!

Listen to more podcast episodes on the Savvy Dentist podcast page.  

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