Neighborhood Smiles

So, unfortunately the guy I am working with on this project has the same name as I do. I might consider changing my name, just for business purposes. I am thinking of something along the lines of Slasher.

Sara, Lily and I made the 3 hour drive up to Wausau yesterday and met with Tim and one of his PDA coaches, Christine. Tim showed me his office, explained how and why things were set up they way they are (using David Ahearn's Design Ergonomics model). We talked to Chris about the role of the PDA coaches in the practice and what to expect from them. Tim and I talked about the sequence for getting my practice open. We discussed timelines, goals, marketing etc.

At this point I am going to be planning to go up to Wausau after I graduate to get some hands on and some training time in Tim's office. That will give me a good leg up when I get ready to start my own. I am also most likely going to be attending the PDA continuing ed. course in Dallas this July. That will be my crash course for the practice management side of things. That will also get me familiar with the team that will be working on my practice with me.

Right now we are just waiting for the demographic analysis to come back from Scott McDonald, at doctordemographics. He should have that ready to go early this next week. Tim and I will then go over that, pick out a few sites to zero in on, then get in touch with a local commercial realtor in the area. After that, (probably some time in late April or early-mid May) we will take a trip down to the area to come up with a final selection. Basically we are looking for a spot for the dentist:population ratio is ridiculously low (over 1:3000). That will give me the best opportunity to get as many patients as I can, as fast as I can. This will in turn allow me to start achieving the growth and goals I will have set with my PDA coaches.

I am not going to get into the actual dollar amount of our production goals because it is very hard to predict, and at this point, it seems kind of personal. But I will say that the stated goal from right now is to have my office open by the end of summer. As soon as I am booked out 2 weeks in advance and my hygiene team is getting into a rhythm I will be looking to bring in a partner (should be in 6-12 months from opening). That partner will come in as a buy-in, not an associate. When we are both busy we will start looking in the surrounding areas for the next spot to place a practice. The goal is to have 4-5 practices, all within 15-20 miles of each other. The timeline for that goal is 5-10 years, but a lot of that will depend on outside factors though.

So, I have a rough draft business plan for "Neighborhood Smiles" that was created by Vicki McManus. She is the President of Productive Dentist Academy (PDA). Her and Tim have come up with this business model and have been messing with it and tuning it up using Tim's practices in Northern Wisconsin. Right now Neighborhood Smiles exists on paper only. The first Neighborhood Smiles will be opening in San Antonio, Texas within the next month or two, by a fellow named Rick. Ironically, Rick used to be a Comfort Dental partner. Rick's goals and plans for San Antonio will mirror the goals that I have in Albuquerque.

I felt great after the meeting with Tim yesterday. I couldn't be more excited for this opportunity to be a part of building something from the ground up. I recognize that there will be many speed bumps and hurdles along the way. But I feel confident that the team of people working with me on this will be able to guide me through those without too much trouble. I know that there will be a heavy initial investment in both time and money. I can't say I am looking forward to being $700,000 in the hole with my school and practice loans (without even buying a house!). But I am also confident that this will shake out well financially. As far as the time issue goes, everyone on this team realizes that there has to be a balance between work and family. None of us wants to wake up in 20 years with a huge bank account and no memories of our kids. So, that has all been laid out on the table. It was great to have Sara up there with me because she got to hear all of this firsthand. So, she has a clear idea of what we're getting into.

I will post again when I get the demo analysis.