Tomorrow is the first day of The Campbell Academy business course entitled "Building the modern, independent dental practice business" We call it TBOB (The Business Of Business).
This came from nowhere, from a serendipitous conversation with Gary Marvin, the Sales Director at Straumann to full existence and fruition tomorrow at 9:00am. The pairings that attend tomorrow have signed up for 12 days in 6, 2-day modules to learn nuts and bolts and ins and outs of trying to run a legacy business.
Let me explain... I have this philosophy of the difference between a lifestyle business and a legacy business. A lifestyle business is one in which the guy who owns the business runs the business and at the end of the month counts the ins and the outs and whatever is left he gets to keep and buy whatever he wants. A legacy business is a business which pays the owner to allow him to invest profits back into the business to grown and organisation that is worthwhile and isn't stripped of profit every single month with no ability to invest, develop and grow.
The TBOB course is about legacy business, not lifestyle businesses. The guys who are coming on the course understand that. As a Christmas present in December they received 10 books to read and our online workshop portal that we have developed for this course has allowed the to submit profiles of themselves and their practice before they attend. The first module, on Wednesday and Thursday this week, is titled 'You don't know what you don't know' and together we'll explore areas that we're good at and areas that we're not. We have Stephen Booth, the Managing Director of Straumann, to speak who will talk about, not only his personal development from one of the original Straumann sales reps to MD, but also how to look after a business and it's people and it's culture.
We also have Mohsin Patel who started his own independent dental practice less than a year ago after coming on a TCA course and was inspired. What a great guy to speak to this group! The obvious highlight of the day will be my homemade Millionaire's Shortbread that I will produce myself (during my sabbatical I did a Master Class with my Mother-in-Law and have now been dubbed 'the yoda of Millionaire Shortbread making' by my Brother-in-Law!).
At the end of the 6 modules these guys will exit the course with their own constructed financial analytic programme for their practice, their own HR programme for appraisal and staff development and their own marketing plan including return on investment with ideas about what works and what doesn't in independent practice. These will be wrapped up together towards the end of the course with a strategic plan for their own practices which will last for the next 3 years and give them the knowledge and ability to write that again and again. This is all tied in with online projects and group projects on discussion forums to give them the maximum value and maximum interaction as a group together with 6 amazing course dinners. It's just an opportunity to reflect on my own business which went from a lifestyle business in 2008 to a complete legacy business in 2017. I really believe the future of independent dental practice lies in the legacy business model.
Blog Post Number - 1201
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