The Paragon Program - Articles/Audio/Video

Wealth Barriers (Articles)

joshuascott@theparagonprogram.com (Paragon Management) — Wed, 02 May 2012 00:00:00 -0500

Have you achieved the wealth you desire? Is something blocking your path to success?

Maybe you have set goals and developed plans to achieve those goals, but for some reason you fell short. Unknowingly, one of six common wealth barriers may be blocking your path. Discover the barrier and take action. Climb over, go around, or push through it. Wealth is waiting on the other side.

Download the entire article. [Evaluation Time: 10 minutes]

Listen to the companion audio session. [Listening Time: 25:55 minutes]

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Six Reasons People Do Not Achieve Wealth

by Ken Runkle – America’s Profitability Expert™

Have you achieved the wealth you desire? Maybe you have set goals and developed plans to achieve those goals, but for some reason you fell short.

Unknowingly, one of six common wealth barriers may be blocking your path. Discover the barrier and take action. Climb over, go around, or push through it. Wealth is waiting on the other side.

Consider the following wealth barriers:

1. Common Misconceptions

“If I’m a great dentist, wealth and success will follow.”

One area of misconception in dentistry is the belief that if you are simply a good dentist, you will achieve wealth and success. However, in twenty-seven years of dental practice consulting, I have worked with many dentists who excelled in the clinical aspect of dentistry, but who struggled mightily in the business of dentistry. To achieve in dentistry, not only must you be a great dentist, you must become a great business owner, leader and manager. Continual learning and implementation of proven and progressive business practices lays the cornerstone for wealth and success in the dental world.

Graduation from dental school represents only the starting line for accomplishment, not the finish line. The most successful doctors I know aggressively pursue continual learning in their quest to become great dental business owners.

“$400,000 a year is more than I deserve.”

The most common misconception I have experienced with doctors relates to money. Subconsciously, we all possess an income number that in our minds equals wealth. Typically when doctors reach that subconscious level, their practice stops growing and their income remains stagnant.

Try this experiment. Write down the highest level of income your parent(s) achieved during their best year. Now, add a “0” to that number. For example, if your parents achieved an income of $40,000, when you add a “0,” that number becomes $400,000. For most people, adding a “0” to your parent(s) highest level of income represents the income level you see as wealthy, or “enough.”

Typically when doctors achieve that number, they tend to subconsciously put the brakes on the growth of their dental practice. Many doctors will conclude they earn enough or too much and do not “deserve” any more.

Mentally pushing through this barrier and moving your personal “goal line” is essential to reaching the level of wealth and success you desire. If this is a difficult transition for you because you believe you earn too much, you may want to start giving money away to transformational causes and charities. One way to leave an impactful legacy is to earn more to give more.

Action Questions:

What misconceptions may be holding you back?

What is your plan to correct your misconceptions?

2. Fear

Change is scary no matter how much courage you may possess. It involves risk and risk creates fear and uncertainty. What will others think if it fails? What will your spouse, patients, and team say? What if you try it and it doesn’t work? A “What if bad things happen” mindset opens the door to fear consuming your thoughts and halting your actions.

Consider your goals, dreams and plans. Is fear holding you back from achieving wealth and success? Are you afraid to build a new building, begin a new marketing campaign, engage a practice management firm, invest in new technology, replace your unproductive staff members, etc…?

Not only do people fear failure, but many also fear success. When I first heard the concept of “fear of success,” I did not believe it existed. However, watching far too many doctors sabotage their lives and practices just as they were reaching their goals, showed me first-hand that fear of success is very real. If you achieved all your dreams would you feel guilty about your success and begin to sabotage it? Has fear caused you to sabotage your success in the past?

On both sides of the equation – fear of failure or fear of success – fear builds imaginary barriers that block your path. Evaluate your life and practice to see if you are in charge or if fear is running the show.

Action Questions:

Is fear of success, or failure, holding you back?

How will you overcome your fear?

3. Laziness

By laziness, I mean those who say, “I’d like to achieve wealth and success, but then I’d have to work harder and I’m not sure I want to do that.”

Maybe you do not deserve success if you are unwilling to work for it. Many doctors would love the situation of one client I have who only works 150 days a year with revenues of $1.7 million in a small town of seven hundred people. They see his life today and envy sets in. What remains unseen are the years of sweat equity and courageous decisions that led to that doctor achieving his high level of success. He worked hard for years to build a practice that would allow him wealth and freedom. Laziness was not an option. Long hours of hard, focused, smart work paved the pathway to a working life most doctors only dream about.

Are you willing to work very hard to achieve the wealth and success you desire? If not, this barrier provides a serious blockade to your future.

Action Questions:

Are you willing to work hard enough

to achieve the level of success you desire?

4. Intellectual Inconsistency

When leading a dental business, it is critical to establish priorities and ensure that everything within the practice is intellectually consistent with those priorities.

What does that mean? To say, “I want to achieve wealth and success” and yet be unwilling to do what it takes to reach that destination is the essence of intellectual inconsistency. Your priorities and actions are not consistent with your desires.

Let me share a real-life example. I remember a client telling me that money was not a priority in his practice. Last that year in September; I received an anxiety-filled phone call wherein he expressed great stress over the financial slow-down in his practice. I responded by saying, “I thought you said money was not important to you.” Money very quickly became a priority.

Decisively establishing your practice priorities will bring consistency to your decisions. If you determine that you want a $2 million practice, decisions will follow that lead to achieving that goal. You will rearrange resources, people and actions in alignment with your established priorities. If that means you need a better staff, you will remove underperforming employees and hire a new team. If that means you need an aggressive marketing campaign, you will take action. If that means you need a new location, you will call a real estate agent today.

Intellectual consistency prioritizes what is important in a practice – dental excellence, financial growth, staff, etc… in a way that will be consistently represented in the practice. Choose your foundational priorities and ensure everything consistently aligns with those priorities.

Action Questions:

Have you established the priorities that determine your decisions?

Are you intellectually consistent in every area of your practice?

How will you ensure intellectual consistency in all areas of your practice?

5. Irresponsibility

We experience increasing levels of responsibility as we progress through life. Those responsibilities may grow from having one child to two children or three children, owning one house to two houses and a boat, being an employee to becoming a business owner, owning a dental practice with three staff members to having a partner and ten staff members, etc...

Often without regard for the time investment required, more and more responsibilities tend to leach onto our lives without permission as we move through the years. Evaluation of these responsibilities is critical to streamlining and focusing on the most important areas and outcomes in your life.

If you are responsible for too much, irresponsibility may rear its ugly head in a few areas. Take some time today and evaluate the responsibilities in your life. Did you put them in your life? Or, did someone else lay them upon you? Are you accepting responsibility for areas you should not be responsible for? Are you demonstrating full and effective responsibility in the most critical areas?

Too many responsibilities weigh you down, negatively affecting others areas of your life and practice. Decide today what responsibilities you must own and what responsibilities should no longer belong to you. Accept responsibility in the most important areas and, where possible, shift responsibility in the least important. Being more fully responsible for less increases focus and effectiveness.

Action Questions:

Do you have too many responsibilities in your life?

Are there areas of responsibility that are not yours to own?

What actions will you take to reduce responsibilities?

What actions will you take to fully engage your critical responsibilities?

6. Pride and Arrogance

Pride and arrogance represent significant enemies of success. For most doctors, they have spent their lives being the smartest and most successful person in their family, graduating class, etc… There are good reasons to be proud. Much has been achieved. But pride and arrogance sets a trap when it stops you from learning, growing, and seeking to be better.

Over the years, I have seen too many doctors swallowed up by pride and arrogance. They become unteachable – no longer attending seminars, engaging in business learning, or trying to get better. Pride whispers softly in their ear that they know it all and they have tried it all. When they get stuck, they are often unwilling to admit they’re stuck. When they have problems, they are often unwilling to admit they cannot solve them alone. Unfortunately for them, humility only conquers pride and arrogance when they crash and burn.

The most wealthy and successful doctors I know are passionate about learning, growing and getting better. Humility marks their practice and their personal lives. They are teachable, coachable, and always seeking to discover and improve.

Don’t wait for the crash. Be teachable. Be humble.

Action Questions:

Are you teachable in all areas of your life and practice?

How will you become and/or remain humble and teachable?

Evaluate, Decide, and Pursue

If some of these barriers apply to you, do not let them block the path to your dreams. Take time to clearly evaluate their role in your life and practice. Answer the action questions transparently and create a workable plan to push through these barriers. Your future wealth and success depends upon the actions you take today.

Go for it!

– Ken Runkle, America’s Profitability Expert™, is the founder and president of Paragon Management, Inc. and has been helping dental practices reach peak profitability for twenty-five years.

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Paragon is the leading dental practice management and dental consulting firm for today's dentist. Over 25 years of service have established us as the industry experts when it comes to growing your practice and achieving the success that you deserve. Paragon is America's Profitability Experts.

Wealth Barriers (Audio)

joshuascott@theparagonprogram.com (Paragon Management) — Wed, 02 May 2012 00:00:00 -0500

Have you achieved the wealth you desire? Is something blocking your path to success?

Listen to the entire audio session. [Listening Time: 25:55 minutes]

Listen to a 45 second audio sample.

Read the companion article. [Evaluation Time: 10 minutes]

Subscribe to iTunes and automatically get new audio sessions.

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The Number One Rule of Goal Setting (Audio)

joshuascott@theparagonprogram.com (Paragon Management) — Wed, 04 Apr 2012 00:00:00 -0500

Did you achieve your practice goals last year? If not, it’s possible that you forgot the number one rule for goal setting.

As you set goals for the new year, achievement becomes much more likely if you follow the number one rule of goal setting. Follow the rule and watch your practice accelerate toward achievement in 2012. Ignore the rule and your goals may be no more than wishes and dreams.

Listen to the entire audio session. [Listening Time: 5:52]

Read the companion article. [Evaluation Time: 10 minutes]

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The Number One Rule of Goal Setting (Articles)

joshuascott@theparagonprogram.com (Paragon Management) — Sun, 01 Apr 2012 00:00:00 -0500

Download the entire article. [Evaluation Time: 10 minutes]

Listen to the entire audio session. [Listening Time: 5:52]

Subscribe to iTunes and automatically get new audio sessions.

If You Want to Achieve Your Practice Goals, You Must…

by Ken Runkle – America’s Profitability Expert™

Did you achieve your practice goals last year? If not, it’s possible that you forgot the number one rule for goal setting.

First, it is critical that you review last year’s goals and set new goals for the coming year. Without goals, your practice meanders without a clear destination.

As you set goals for the new year, achievement becomes much more likely if you follow the number one rule of goal setting:

The Number One Rule of Goal Setting:

Goals must be Written in Specific and Measurable terms.

Let’s break it down:

1. Goals must be Written.

Until a goal is put on paper, it remains a wish or a dream. Writing out your practice goals allows every team member the opportunity to clearly understand the goals, buy-in to the goals, and work together toward achievement.

Successful practices tend to post their written goals in staff areas on banners and signs while using other creative methods to keep the goals front and center for every team member. Going one step further, goal-setting experts often promote the idea of rewriting your yearly goals every day. Imagine your entire team rewriting the stated yearly goals every morning before the first patient arrives.

When goals are written, they can be owned. When goals are owned, they bring focus. When goals bring focus, achievement follows close behind.

As a guide, we encourage practices to limit their written goals to three main bullet points. Limiting the bullet points focuses your goal-setting on the most important goals while also making it easier for every team member to be able to recite the practice goals at any time.

2. Goals must be Specific.

Think through your goals, drilling down from the general goal to the specific goal. It is not enough to want a “growing practice” this coming year. What does that mean? What does that look like? Maybe it means you want to “increase new patient numbers” as a general goal. How can you drill down to make that goal more specific? Your specific goal may be to “Increase new patient numbers by ten new patients a month.” Specific goals are measurable.

3. Goals must be Measurable.

Setting a goal that cannot be measured is an exercise in frustration. How will you know if you’ve achieved the goal unless you can measure achievement?

“Increasing new patients by ten new patients a month” is both specific and measurable. You will know if you achieved that goal in March or April. At the end of December 2012, you will know if you added a total of 120 new patients.

Measurable goals allow you to evaluate and re-focus as you move through the year. For example, during a month where new patient numbers are low, you may decide to make a special marketing push the last week of the month to reach the monthly goal.

Practice Goals Are Your Goals

Finally, as the practice leader, all practice goals are your goals. You set the tone for expectations and achievement. Set goals big enough to challenge yourself and your team. Do not be swayed by others to lower the bar or let last years struggles determine this years standards. Own your goals, live your goals, and pursue your goals with passion and determination. They are your goals and your leadership drives the practice toward accomplishment.

Go for it!

– Ken Runkle, America’s Profitability Expert™, is the founder and president of Paragon Management, Inc. and been helping dental practices reach peak profitability for twenty-five years.

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Meet Candy - kiDDS Foundation Promotional Video (Video)

joshuascott@theparagonprogram.com (Paragon Management) — Tue, 20 Mar 2012 00:00:00 -0500

A promotional video for the kiDDS Foundation. See the work Free to Smile is doing for kids with cleft lip and cleft palate. Filmed in February, 2011 trip to Guatemala with Free to Smile. To learn more about these surgeries and the Free to Smile Foundation, go to www.freetosmile.org

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Good Debt - Understanding Debt In A Dental Practice (Articles)

joshuascott@theparagonprogram.com (Paragon Management) — Fri, 02 Mar 2012 00:00:00 -0600

Do you have good debt or bad debt in your dental practice? Consider five forms of debt and whether they are good or bad for your practice.

We know debt can be destructive. Can it also be good? Ken Runkle evaluates five forms of dental practice debt, revealing whether it is good debt or bad debt. Understanding practice debt and using it wisely will help you protect your practice while enabling you to achieve your personal and practice goals.

Download the entire article. [Evaluation Time: 10 minutes]

Listen to the companion audio session. [Listening Time: 28:38]

Understanding debt in a dental practice?

by Ken Runkle – America’s Profitability Expert™

Debt can be destructive. Daily we are sinking into a crater of national debt, many are drowning with significant credit card debt and other consumer debt, and we have a housing market being swallowed by bad debt.

Is it possible that there are also good forms of debt?

Early in my consulting career, I aggressively pursued educational opportunities and mentors to help me fully understand the economics of dentistry. Learning what causes growth, how debt works, and how to measure risk and reward has become a lifelong challenge after more than two decades of helping dental practices thrive.

Experience has shown me that there are good forms of debt in a dental practice. The reality is that most doctors will have to go into debt at some point in their career. Whether it is starting a practice, purchasing a practice, or investing in buildings or new equipment; debt will be on the ledger. Understanding the differences between good debt and bad debt can have a massive impact on your practice both today and in the future.

I would like you to consider the five forms of debt below as they relate to your practice. Please understand that the information represents a general overview and that each circumstance and situation may present special considerations that impact whether or not it is good or bad debt.

1. Practice Purchase

SCORE: Good Debt with considerations

In more than two decades of tracking dental practice profit and loss statements, I have come to believe that a practice purchase is the number one way to increase your practice. Yes, it will probably put you into debt. However, debt from a practice purchase represents good debt as long as your purchase price is reasonable. One major benefit of a practice purchase is that the payoff begins on day one with an established cash flow, making it wiser to buy an existing practice than to start a new practice.

As a note of caution, if you choose not to purchase a practice in your area that is for sale, chances are good that another dentist will. It makes more sense for you to own that market share than to cede it to another. Yes, there is absolutely enough dentistry out there for everyone to succeed, but practice purchase opportunities in your area may be limited. Take advantage of them or someone else will.

NOTE: One variable that impacts whether or not a practice purchase represents “good debt” is the length of time you plan to continue to practice. Debt from a practice purchase may not be good debt if you do not plan to practice for less than seven more years.

2. Line of Credit for Working Capital

SCORE: Good Debt, but could become Bad Debt

Working capital for a new practice or a practice purchase represents a necessity and a good form of debt. However, it does have a timeline attached to its value. After five years, a line of credit moves from good debt to bad

debt in the eyes of a banker. Leaving open a line of credit after five years will almost always drop your credit score, making money more expensive for future opportunities. Banks view a working capital line of credit as a short-term arrangement. Within five years, if you have developed a solid plan to put aside profits and surplus, your practice should be your bank.

PRINCIPLE:

Be Your Own Bank After Five Years

3. Equipment Purchase and Leasehold Improvements

SCORE: Good Debt with considerations

When making a practice purchase, it is essential that you consider all potential needs. Often in a practice purchase, updating or replacing equipment and leasehold improvements may not be fully calculated in the offer or in the overall financial consideration. Depending upon the age of the practice and the previous owner’s approach to stay modern, you may have to re-equip the entire practice from dental chairs, to instruments, to expensive modern dental equipment, to a complete redesign of the space. However, on the whole, equipment purchases represent an investment in the growth and future of your practice and generally qualify as good debt.

4. Building Purchase

SCORE: Good Debt with considerations

Although many in the dental industry may disagree on the value of a building purchase, my experience has been that a building purchase represents both good debt and a good investment. For example, if you plan to practice for another thirty years, purchasing a building makes sense. At the end of thirty years, you can either have equity in

real property if you chose to purchase the building or a shoebox full of receipts if you chose a rental or lease agreement. Even if you sell the building for half of it’s value, you have turned what would have been lease payments into equity.

Another potential benefit of building ownership arises when you choose to sell your practice. In some cases, the new owner may wish to purchase the practice but not the building. Receiving the purchase price of the practice plus monthly lease payments during your retirement years serves as a great source of income.

5. Credit Cards

SCORE: Bad Debt

On the whole, credit card debt represents a bad form of debt. Carrying a significant balance on one or several cards will lower your credit score significantly and signal to bankers that you are living beyond your means. In many cases, sizeable debt on credit cards represents that you may be borrowing money to maintain a lifestyle rather than to grow your practice.

When it comes time to expand your practice, build a new building, purchase new equipment or make other practice investments, revolving credit card debt will make it much more difficult and expensive to borrow. Banks are loaning money to dentists because dentists still represent a good investment. But, if you have $30,000 in credit card debt, the path is much more difficult.

With all bad debt, the goal is to dispose of it quickly. We encourage our clients to pay off their credit cards quickly. Within one to two years, they see their score rise considerably, making money cheaper for expansion and growth.

When is Debt a Bad Deal?

When is any form of debt a bad deal? Debt becomes a bad deal if you have a one-month downturn and you cannot meet your liabilities. Debt can be crushing to a dental practice that has not planned effectively for the ups and downs of their practice.

As a guiding rule, we encourage practices to maintain enough in reserve to be able to cover expenses even if your practice drops by as much as twenty-five percent in a given month. If your average month is $100,000, keep enough in reserve to cover a twenty-five percent drop to $75,000.

In my experience, practice leaders who understand the power and pitfalls of debt while using it wisely tend to thrive. The choice is yours.

Go for it!

– Ken Runkle, America’s Profitability Expert™, is the founder and president of Paragon Management, Inc. and has been helping dental practices reach peak profitability for twenty-five years.

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Good Debt - Understanding Debt In A Dental Practice (Audio)

joshuascott@theparagonprogram.com (Paragon Management) — Fri, 02 Mar 2012 00:00:00 -0600

Do you have good debt or bad debt in your dental practice? Consider five forms of debt and whether they are good or bad for your practice.

Listen to the entire audio session. [Listening Time: 28:38]

Listen to a 45 second sample.

Read the companion article. [Evaluation Time: 10 minutes]

Subscribe to iTunes and automatically get new audio sessions.

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Seven Habits of Referability - Staff Training Edition (Articles)

joshuascott@theparagonprogram.com (Paragon Management) — Fri, 03 Feb 2012 00:00:00 -0600

by Ken Runkle – America’s Profitability Expert™

Read the entire article. [Evaluation Time: 10 minutes]

INTRODUCTION TO THE 7 HABITS

Paragon Audio Training Session

“Introduction and Referability Habit #1” (Length 5:32)

Listen to Habit 1. [audio session]

Does your practice have a continuous flow of new patient referrals? Do all team members maximize every opportunity to point new patients to your practice? Are you meeting your monthly new patient referral goals?

While studying business practices for IBM, Frederick Reichheld discovered seven habits of referability that led to IBMs early success. As revealed in his book, The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value, Reichheld’s research points to repeatable behaviors which I have found to be directly transferable to every dental practice.

As you review these seven habits, evaluate how well they are represented both in your practice and through your team. Focus intently on your work as the practice leader as well as your entire team’s efforts in referring new patients. You might be surprised to learn how many potential new patients you and your team are leaving outside in the cold.

Referability Habit 1

The Habit of Courtesy

Paragon Audio Training Session

“Introduction and Referability Habit #1” (Length 5:32)

Listen to Habit 1. [audio session]

“Please” is still a magic word along with the phrases “Thank You,” “Yes Sir,” “No Maam,” and “Your Welcome.” A courteous practice is a growing practice because moments of courtesy with your patients become stories shared with their friends. “Dr. Smith is so nice…”

Paragon Practice Discussion Questions:

1. On a scale of 1 to 10, how would your patients rate your staff in terms of showing courtesy?

2. In analyzing every point of contact with your patients (from the phone to treatment to payment), where could your team improve courtesy?

3. What specifically will you do to ensure the Habit of Courtesy is fully implemented and consistently represented in your practice?

New habits will bring new patients and new patients will create new profits.

Go for it!

Referability Habit 2

The Habit of Being On Time

Paragon Audio Training Session

“Referability Habit #2” (Length 1 min 45 sec)

Listen to Habit 2. [audio session]

Ten years ago the goal was to get patients from the waiting area to their room by their scheduled appointment time. For today’s patients, personal schedules are tighter and time is more important. “On time” today means patients are driving away from your practice by their expected completion time.

Being on time is more about managing patient’s expectations than ensuring that you meet every scheduled time. One way to manage patient’s expectations is to pad every treatment by at least fifteen minutes. If a typical prophy requires an hour, share with your patients to expect one hour and fifteen minutes for their treatment. “Mrs. Williams, you should expect to be here from nine to ten-fifteen on Tuesday.”

Meeting or exceeding their time expectations will lead them to share their story with others.

Discussion Questions:

1. On a scale of 1 to 10, how would your patients rate your staff in terms of being on time?

2. Are your patients consistently pleased with their time expectations for treatment?

3. What areas of your practice lead to bottlenecks in your practice?

4. Do you a system in place to measure “wait time” for patients?

5. What specifically will you do to become known as an “On Time Practice” in your community?

New habits will bring new patients and new patients will create new profits.

Go for it!

Referability Habit 3

The Habit of Using Names

Paragon Audio Training Session

“Referability Habit #3” (Length 2 min 22 sec)

Listen to Habit 3. [audio session]

People love the sound of their own name. Using names creates immediate rapport with patients, shows you care, and lowers trust barriers. Make it a rule that patients are always addressed by their names.

Dental Assistants and Hygienists can greatly help doctors who tend to forget names. Simply implement a practice in which the hygienist or assistant always refers to the patient by name as the doctor enters the room.

In addition to using names, if applicable, your team should address patients using relevant honorifics such as Reverend, Dr., Judge, Professor, etc… In Paragon, we recommend using a 25 to 30 year rule as a guide for when to address patients as “Mr.” or “Mrs.” If the patient is at least 25 to 30 years older than you or other staff members, the patient should always be addressed as “Mr. Smith” or “Mrs. Jones” out of respect.

Discussion Questions:

1. Do team members consistently address patients by name or honorific if applicable?

2. Do team members “remind” other team members of patient’s names as they pass them on for treatment or front office interaction?

3. What specifically will you do to ensure it becomes a habit for all team member to address each patient by name and/or honorific?

New habits will bring new patients and new patients will create new profits.

Go for it!

Referability Habit 4

The Habit of Happiness

Paragon Audio Training Session

“Referability Habit #4” (Length 2 min 3 sec)

Listen to Habit 4. [audio session]

Come happy – Stay Happy – Go Home Happy. Over two decades of in-office consulting has taught me that happy people schedule more treatment. In fact I usually recommend that unhappy front desk people be immediately replaced. It is critical for growing practices to establish the necessity of happiness and replace team members who do not meet those expectations.

Discussion Questions:

1. On a scale of 1 to 10, how would the patients in your practice score your staff in terms of happiness?

2. Do your patients share with their friends and networks that a visit to your practice brightens their day because it’s a happy environment?

3. What actions does the staff take on a daily basis to ensure every team member exudes happiness?

4. What specifically will you do to ensure that happiness becomes a habit in your practice?

New habits will bring new patients and new patients will create new profits.

Go for it!

Referability Habit 5

The Habit of Accepting Compliments

Paragon Audio Training Session

“Referability Habit #5” (Length 56 sec)

Listen to Habit 5. [audio session]

Although we may think it represents humility to deflect or demur when complimented, it is more like rejecting a gift. A compliment is a gift and should be received with a gracious and heartfelt “Thank You.” People love to feel like their gift is well received.

Discussion Questions:

1. What is each staff member’s typical response to a compliment?

2. Consider giving each staff member a compliment during this discussion and have them practice responding with acceptance and a heartfelt “Thank You.” Remember sincerity and not false humility is the key.

3. What specifically will you as a staff to ensure that accepting and appreciating compliments becomes the norm?

New habits will bring new patients and new patients will create new profits.

Go for it!

Referability Habit 6

The Habit of Asking for a Referral After a Compliment

Paragon Audio Training Session

“Referability Habit #6” (Length 25 sec)

Listen to Habit 6. [audio session]

In the same way that a compliment is a gift, it is also a perfect opportunity to ask for referrals. “Ms. Jones, thank you very much. I’d also like to offer you a compliment. We count it a great privilege to serve patients like you. If you have any friends like you, we’d love to have them as patients.”

Discussion Questions:

1. Does your team consistently maximize every compliment by creating a referral opportunity?

2. Consider giving each staff member a compliment during this discussion and have them practice responding with acceptance and a heartfelt “Thank You,” AND THEN asking for a referral.

3. What specifically will your staff do to ensure that the habit of asking for a referral follows all compliments?

New habits will bring new patients and new patients will create new profits.

Go for it!

Referability Habit 7

The Habit of Always Asking for Referrals

Paragon Audio Training Session

“Referability Habit #7” (Length 4 min 27 sec)

Listen to Habit 7. [audio session]

To build a well-oiled referral machine, every team member must be trained and empowered to see opportunities and maximize them.

According to the A.D.A., five out of ten people do not currently see a dentist regularly. In addition, two who currently see a dentist are ready to move on to another dentist. In other words, seven out of ten people are always looking for a dentist. Do not leave them outside in the cold, start opening the door.

Discussion Question:

1. Is your entire team creating and maximizing referral opportunities?

2. What specific steps will you take in the next 90 days to ensure that every team member develops the habit of always asking for referrals?

Role Playing Session:

Here are a few quick tips for creating referral situations. You might want each staff member to role play the process:

1. THE OPENING: “What do you do?” All team members are often asked in social gatherings what they do for a living. Learning a proper response creates referral opportunities.

2. THE RESPONSE: “I work for one of the best dentists in Ohio – she’s phenomenal.”

3. THE TRANSITION QUESTION: “Where do you go for your dentistry?”

4. THE OFFER: Every team member should be empowered to pull out a business card, flip it over and hand- write an offer of $100 off a new patient exam. This hand-written offer provides a personal touch to the invitation.

New habits will bring new patients and new patients will create new profits.

Go for it!

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Seven Habits of Referability - Staff Training Edition (Audio)

joshuascott@theparagonprogram.com (Paragon Management) — Fri, 03 Feb 2012 00:00:00 -0600

Does your practice have a continuous flow of new patient referrals? Do all team members maximize every opportunity to point new patients to your practice?

While studying business practices for IBM, Frederick Reichheld discovered 7 Habits of Referability that led to IBMs early success. Ken Runkle translates Reichheld’s research into 7 Essential Referral Habits for every growing dental practice. As you review these seven habits, evaluate how well they are represented both in your practice. You might be surprised to learn how many potential new patients you and your team are leaving outside in the cold.

Listen to Habit 1. [audio session]

Listen to Habit 2. [audio session]

Listen to Habit 3. [audio session]

Listen to Habit 4. [audio session]

Listen to Habit 5. [audio session]

Listen to Habit 6. [audio session]

Listen to Habit 7. [audio session]

Read the companion article. [Evaluation Time: 10 minutes]

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Ken Runkle in January 2012 Dental Economics (Articles)

joshuascott@theparagonprogram.com (Paragon Management) — Fri, 03 Feb 2012 00:00:00 -0600

Dental Economics has once again published one of Ken's articles. The January, 2012 issue includes Abundance - 7 Steps To Move From Scarcity To Plenty. You can read it here. You can also read some of Ken's previous DE articles:

January, 2011 - The Business Of Dentistry

July, 2010 - The Sinatra Principle - Your Ticket To Greater Case Acceptance!

May, 2010 - GPS Dentistry

November, 2008 - Think Big!

September, 2008 - Four Proven Laws for Practice Profitability

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