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How to Start a Dental Business | Free Book PDF Download

Starting a Dental Business

 

How to Start a Dental Business - Free Book


Are you considering starting a Dental Business? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Dental firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Dental Business' book:

How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.

A detailed manual that will walk you step by step through all the essential phases of starting your business

A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).

All this and much much more.

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your book for free (PDF version)

Here're other free books in the "how to start a business" series that may interest you:

Agriculture Assisted living Auto repair Bakery Bar Beauty salon Bed and breakfast Bookkeeping Boutique Bowling alley Carpet cleaning Car wash Catering Cattle farming Charity Cleaning Coffee shop Computer repair Construction Consulting Convenience-store Cupcake Daycare Dental Dog daycare Ecommerce Electrical Embroidery Engineering Farm Fashion Film Financial advisor Fitness center Flower-shop Food Food truck Franchise Frozen yogurt Furniture store Gas station Goat farming Grocery store Gym Hairdressing Hair salon Ice cream Insurance agency Interior design Internet Internet cafe IT Jewelry Landscaping Laundromat Laundry Law firm Magazine Manufacturing Microbrewery Motel-hotel Music Nightclub Nonprofit Nursery Online-retail Photography Pizza Plumbing Poultry farming Preschool Printing Private investigator Pub Real-estate Resort Restaurant Retail School Security company Service Software Spa Sports-bar Startup Supermarket Travel agency Trucking Vegetable-farming Website

Here's a Sample 'Executive Summary' for a Dental Business plan:

COMPANY NAME located in Somerset, New Jersey is a provider of dental services to patients of all ages. The Practice accepts patients covered by most dental insurances, including patients who are covered by Medicaid.
 
INSERT NAME is the sole owner of the business. COMPANY NAME competitive edge relates to INSERT NAME long-term professional experience, her philanthropic endeavors, and being the only area dentist who accepts Medicaid patients. Philanthropic endeavors aren't just for millionaires. Philanthropy is an activity that we can all participate in to make our corner of the world a better place. As a skilled professional, INSERT NAME has unique skills she brings to the marketplace to help those less fortunate.

INSERT NAME has successfully managed the dental practice for 25 years. She received her undergraduate degree from Rutgers University and her Doctorate of Dental Science from Howard University, established in 1881, it is the fifth oldest dental school in the United States.
 
Some of INSERT NAME notable philanthropic accomplishments include:

  • 15-year member of Organization for International Development (OID), a volunteerĀ  mission group which provides free medical and dental services to poor people in rural areas in Jamaica, Ghana, Ethiopia, India and Haiti. She has been on 12 mission trips during which she provided free dental services to the local people in need.
  • Board member for Harambee Community Development Initiative - an outreach program in the city of East Orange. Note:Harambee is a Swahili word for “Let’s work together”. It is intended to signify the uniting of a community around a common goal.
  • Active deacon in Elmwood United Presbyterian Church

COMPANY NAME is located in a 1,000 square foot professional office space in the building owned by INSERT NAME. COMPANY NAME's patient base consists of the following:

  • Medicaid recipients
  • Managed care plans
  • Regular fee for service insurance plans
  • Cash paying patients

Somerset County is comprised of 21 individual municipalities, spanning over an area of 305 square miles. The growth and development of this area has been on the rise for centuries, and is now standing as the home of 324,186 residents and thousands of diversified businesses. Those numbers are set to increase, with a projected 2014 population expected to reach 343,600 (a 15.5 percent increase since 2000). Located in the heart of the nation’s largest metropolitan area, Somerset County contains a balance between urban and suburban neighborhoods and rural countrysides.

COMPANY NAME is seeking $100,000 in grant funding. It is anticipated that the $100,000 in grant funding will provide necessary capital to cover the costs of the following:

  • Purchase new equipment
  • Location expansion
  • Expand business
  • Purchase new vehicle


COMPANY NAME expects to maintain a healthy gross margin and net profit margin during the next two years. The net profit for 2010, 2011 and 2012 is forecast to be $102,298, $128,285, and $143,685, respectively. The sales for 2010, 2011, and 2012 are forecast to be $300,000, $350,000, and $375,000, respectively.
The company's anticipated profitability analysis demonstrates that COMPANY NAME's Net Worth is expected to be $240,395 in 2010; $368,680 in 2011; and $512,365 in 2012, respectively. 
 

1.1 Objectives

INSERT NAME objectives for COMPANY NAME are to:

  • provide community service
  • screen children in the Head-start Program
  • provide dental care to uninsured children

1.2 Mission

To provide dental care to all children who need it regardless of insurance coverage.

1.3 Keys to Success

COMPANY NAME's keys to success include INSERT NAME:

  • willingness to work hard
  • philanthropic endeavors

COMPANY NAME located in Somerset, New Jersey is a provider of dental services to patients of all ages. The Practice accepts patients covered by most dental insurances, including patients who are covered by Medicaid. The Company is located in a 1,000 square foot professional office space in the building owned by INSERT NAME.


COMPANY NAME's patient base consists of the following:

  • Medicaid recipients
  • Managed care plans
  • Regular fee for service insurance plans
  • Cash paying patients

2.1 Company Ownership

INSERT NAME is the sole owner of COMPANY NAME.

2.2 Company History

The owner, INSERT NAME, has been in practice for 25 years. The practice has experienced financial setbacks due to the impact of the local economy related to many people losing their jobs and thereby having no dental insurance.

The past performance table below shows the developments of sales, assets, liabilities, and operating expenses for the last 3 years of business. The Company's sales for 2007, 2008, and 2009 were $249,059, $266,815, and $260,562, respectively. The gross margin for this period was $213,799, $229,265, and $223,896, respectively. Earnings for this period were $61,282, $72,292, and $73,099.

Table: Past Performance

 

Past Performance

 

 

 

 

2007

2008

2009

Sales

$249,059

$266,815

$260,562

Gross Margin

$213,799

$229,265

$223,896

Gross Margin %

85.84%

85.93%

85.93%

Operating Expenses

$155,176

$155,140

$152,095

 

 

 

 

Balance Sheet

 

 

 

 

2007

2008

2009

 

 

 

 

Current Assets

 

 

 

Cash

$0

$0

$0

Other Current Assets

$0

$0

$0

Total Current Assets

$0

$0

$0

 

 

 

 

Long-term Assets

 

 

 

Long-term Assets

$50,100

$24,770

$44,446

Accumulated Depreciation

$7,159

$3,538

$6,349

Total Long-term Assets

$42,941

$21,232

$38,097

 

 

 

 

Total Assets

$42,941

$21,232

$38,097

 

 

 

 

Current Liabilities

 

 

 

Current Borrowing

$0

$0

$0

Other Current Liabilities (interest free)

$0

$0

$0

Total Current Liabilities

$0

$0

$0

 

 

 

 

Long-term Liabilities

$0

$0

$0

Total Liabilities

$0

$0

$0

 

 

 

 

Paid-in Capital

$0

$0

$0

Retained Earnings

($18,341)

($51,060)

($35,002)

Earnings

$61,282

$72,292

$73,099

Total Capital

$42,941

$21,232

$38,097

 

 

 

 

Total Capital and Liabilities

$42,941

$21,232

$38,097

3.0 Services

COMPANY NAME provides full-service dental care to patients of all ages. Services include complete examinations, fillings, extractions, root canals, cleanings, sealants, crowns, bridges, periodontal treatments, teeth whitening, dentures, bridges, partials, and enamel bonding. The goal for future services is to expand the patient base to include pre-school children without any dental insurance coverage and grammar school children.

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