Page 72 - The Dental Entrepreneur

The Dental Entrepreneur

One of the most important quotes that I have ever heard applies universally to most problems
in business. Please memorize this:

“People don’t value what they don’t understand,

And people don’t buy what they don’t value”

Today, people are BUYING health, wellness, beauty like never before. And they are buying it
with CASH.

Botox… cash!

Hair restoration…cash!
Hormone replacement therapy…cash!
Laser skin treatments…cash!,
Very expensive nutritional supplements,…cash!

Consumers are not calling these offices and asking if they accept their plans. They are
plunking down thousands of dollars on a yearly basis for the things that they have been
educated about and value. They are convinced that theses things will enhance their life in a
variety of ways. People have and always will find ways to pay for things that they
VALUE.

So in a nut shell you do not have an insurance problem, you have a value problem. That is as
brutally honest as I can make it.

So What Is The Solution?

In my opinion, the only way you can escape the commodity trap is to become an expert in
marketing. You must learn the art of Value Creation. In the short term, you have to participate
in a variety of the better plans but you must allocate marketing dollars in the creation of value
in your practice and find those same consumers that are out there searching for you.

Here lies the really good news. Dentistry is a very personal and intimate service. People in
general do not want to shop this on price only and trust such a sensitive part of their body to
just anyone. They are smart enough to figure that out. There will always be a small group of
price shoppers only but that is not the mainstream dental consumer. They are searching for
good gentle compassionate care. They want to be treated well. They don’t want to be treated
like cattle which so many of the “clinics” become reduced to. This is where the GIANT
opportunity lays. Letting patients know that they can “UTILIZE THEIR BENEFITS” in your
office but they may have some out of pocket expenses in addition because you are WORTH
IT. My hygiene and marketing chapters will bring this all home for you in a big way.

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