Page 12 - Demo

1 | Your Comprehensive Growth Strategy 11%u2022 How many locations do you have?%u2022 How many doctors are there at each location?%u2022 How many owners do you work with?%u2022 What is your total number of patient files?%u2022 What type of dentistry is performed in your practice?%u2022 What is the total spending per year on online marketing?%u2022 What is the total spending per year on offline marketing?%u2022 How satisfied are you with your marketing?%u2022 What key practice elements are you looking to improve?Once you have these answers, your next step is to perform a CostVolume-Profit Analysis.Start by identifying your variables: 1. What are your sales prices? How much do you charge for single implants? Full-mouth restorations? Gum therapy? Hygiene? Everything else?______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________2. What are your variable costs, including material, time and production?______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Now calculate the difference between your cost and your sales price.Contribution margin%u00a0=%u00a0Sales price per unit %u2013 Cost per unit______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Now, determine your Break-Even Point, or the level of sales at which total revenue equals total costs, resulting in zero profit.Break-Even Point (in units)%u00a0=%u00a0Fixed Costs / Contribution Margin______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________12 Dental Growth Machine: Transform Your Practice by Attracting High-Value Patients Who Pay, Stay, and Refer WorkbookNow that you have these metrics, you can analyze your profit at different levels of activity.You do this with the following formula:Profit%u00a0=%u00a0(Sales Volume * Sales Price per Unit) - (Sales Volume * Variable Cost per Unit) - Fixed CostsThis Cost-Volume-Profit (CVP) Analysis will help you formulate pricing strategies, determine how much you%u2019re willing to spend on marketing, and understand the risks and rewards associated with different offers and promotions.Now, it%u2019s time to perform a technology inventory.WHAT ROLE DOES TECHNOLOGY PLAY IN YOUR PRACTICE?%u2022 Do you have a website? Are you happy with it?%u2022 Do you communicate with your current patients through text and email?%u2022 Do you have long-term nurture strategies to keep in touch with current patients?%u2022 Do you have outreach initiatives through social media?%u2022 What processes do you currently have for handling online and offline data?%u2022 What is your central marketing database system? Do you use HubSpot, GoHighLevel, ClickFunnels, Keap, Thryv, or other applications? We have developed our own proprietary system on the GoHighLevel platform, called eBGS: eLaunchers Best GROWTH System.%u2022 What%u2019s the state of your data? Is it old, stale or inaccurate?YOUR COMPETITIVE ANALYSIS: WHO ARE YOUR BIGGEST POTENTIAL ALLIES AND COMPETITORS?%u2022 Who is your direct competition?%u2022 Who is your indirect competition?%u2022 Who can challenge or compete most effectively with you?%u2022 Who can you most effectively compete with?%u2022 Who has the %u201cbest clients%u201d for your business currently?%u2022 Who can you partner with to access their customers?%u2022 What relationships can you establish or grow to build your business?%u2022 Whose client list is compatible with your goals?%u2022 Who has the customers you want and how can you collaborate with them?%u2022 What businesses can you co-market with?If you%u2019ve spent time with this workbook, you now have a clear snapshot of where you are as a practice owner and where you wish to be. You have identified your greatest challenges and opportunities and outlined specific, actionable steps you can take to help you achieve your goals. The work you did in this section was time well spent and will help you implement the techniques and strategies in all the sections to come.8 | Dental Growth Machine Companion Workbook