HOW TO OWN 35 MILLION DOLLAR DENTAL PRACTICE
Creating a 35 million $ Dental Practice and Managing it.
Emmet O’ Neal was asked – How you managed to achieve so much success in the dental sector in-spite of not being a dentist by degree and not also being from a corporate family ?
What he answered – Read & Learn the Entrepreneurial Skills
It started out as a big hindrance to be honest because there was a lack of knowledge on my part of anything to do with dentistry.
Dentists want to work with people who understand them and I didn’t.
Very quickly I had to see what they want, explain what I’m trying to achieve, and get everyone on the same page.
What I’ve found with dentists in Ireland is, if you listen to their opinion and communicate the goals across the group you always get the ‘buy in’.
All dentists want is a standard of facility and standard of support staff to allow them to do their job to the best of their ability. If those things aren’t in place it can be stressful for them to do their work, and I appreciate that.
I think where I can be of value to the dentists is that I can say: “Look, I’m a consumer, I’m a patient, this is what I’ll buy and this is how I will buy it.”
My task is to get practices patients, to keep dentists busy, and to make sure that where they work is top class. If I’m not doing that then I’m not doing my job.
Points to learn for a dentist
1. Having a deep respect and understanding for the business and fellow workers.
2. Emmet was able to convince and get many talented dentists under one organisation by sheer convincing power and respect for what dentists do. It’s really of value as in today’s generation dentists are the one who are in many cases not respecting their fellow dentists.
3. He helped the fresh graduates establish the best possible infrastructure to practice and grow.
4. He took risks when he was young. He started his empire when he was 26. He took bank loans, corporate leans, slogged hard to get the funds that can help him create world class dental clinics for talented dentists. Please do keep in mind that it might sound easy but its not. Managing funds on loan and creating a profitable dental clinic model is one of the hardest job.
