Practice Management Insider: Know your purpose, know your numbers

Dear Practice Management Insider,

It doesn't seem like that long ago that my wife introduced me to Simon Sinek's Ted Talk in which he discusses why you should "start with why." In the video (which I consider a must-watch), Sinek talks about how, once you know your "why" (or what you consider to be your purpose), everything starts revolving around that in your life.

In simple terms, your "why" becomes the true north of your compass. And it isn't just about your personal life. Discovering your "why" is so important for every dental professional. It's one of the concepts that I always discuss during my lectures around the world.

In this edition's Insider Exclusive from Fortune Management's Kim McGuire and consultant Fred Joyal, they note that it's important that the dentist and team know the purpose of their practice (including why it is exists and matters) but also how the practice keeps existing. In other words, how are you spending your money? How are you staying in business? How are you making sure your team stays employed and you are able to take home a paycheck? What's working in your practice -- and what isn't?

These are important questions, and I hope you'll take some time to read the authors' thoughts. After all, you don't just run a dental practice. You run a business, and knowing your numbers is a key part of that business succeeding.

Additionally, it's the time of year when inclement weather hits many parts of our country. What is the policy in your practice when snow, ice, flooding, or whatever weather event may affect your community happens? Dr. Sheri Doniger shared her thoughts with our readers.

This past week in the Practice Management Community, we also published a strongly worded editorial about dental therapists and their role in the industry, as well as an update on a dentist in Alaska who has become known around the nation for all the wrong reasons.

Thank you for being a Practice Management Insider! We hope your 2020 is off to a strong start, both personally and professionally.