“Behind ever successful business, someone once made a courageous decision.”– Peter Drucker
As I meet with Dentists throughout the country at Conferences, Seminars and CE Events I notice that the dental profession is dividing into the ‘haves’ and the ‘have-nots’. The Dentists that fall into the haves column are thriving today, despite the challenges. Their practices are growing and these offices are helping more patients enjoy the benefits of good oral health. These Dentists are embracing the changing environment, taking much more CE than required, investing in new technology to better serve their patients, and are Bullish on the future of dentistry!
On the other hand, Dentists that fall into the have not column are experiencing difficult times and often point to the down economy as the reason. These practices are declining and losing patients on a regular basis. These Dentists are threatened by the changing environment, often take the minimum amount of CE necessary for licensure, not investing in new technology and have a sour view on the future of dentistry.
Often times I notice thriving practices and declining practices in the very same community. Same general location, yet radically different results.
As we approach the end of 2012, I hope you are devoting some time to plan for 2013 and beyond. Pardon my enthusiasm, but I truly believe that this is a fantastic time to be in the dental profession! We are able to help patients in ways that were not possible even just a few years ago. We have new technology that makes practicing dentistry more enjoyable than it has ever been. We currently have a favorable Section 179 tax deduction that allows you to receive a significant tax benefit for qualified purchases placed in service in 2012 (check with your CPA for specifics). Think about equipment and technology that would make practicing dentistry more enjoyable for you and go out and buy it. You can take the Section 179 deduction on financed or leased purchases and the cost of borrowing money is at an all-time low! There has never been a better time to Carpe Diem!
Peter Drucker was absolutely right! You have a choice. You can see the dental profession as one of abundance or one of scarcity. I know how I choose to see the future. How about you? Keep Smiling!