Dental Tribune United Kingdom Edition

May 7-13, 201210 Feature United Kingdom Edition Enrol today! Call for details Limited places available! TR213860 213860_BDJ_Nobel 8/2/12 13:10 Page 1 T here’s no doubt that dental business coach- ing has achieved a much higher profile in recent years. Most people are aware of the profession, but they may be less certain of exactly what it entails, how long it lasts and what the benefits are. Broadly, there are two types of busi- ness coaching: quantitative and qualitative, and the length of the contract very much de- pends on the relationship with the client. An example of a quantita- tive relationship could be a dentist wishing to increase their profits by 30 per cent. Once they reach that point, the target has been achieved and the contract fulfilled. Other targets could include a conversion from NHS to pri- vate, or to get some better team members, or to increase the number of implants be- ing placed. The dentist gives a number target and a date tar- get, and when the job’s done, it’s done! A qualitative relationship is where the client needs a shoulder to cry on, another pair of eyes in the manage- ment team, or somebody who can look from the ‘outside in’ as a non-executive advisor to the business, and give the benefit of their experience and connections. A qualitative re- lationship can go on for quite a long time, whereas quantita- tive relationships tend to last in the region of two or three years. The benefits of business coaching can be the differ- ence between success and failure, or a ‘turnaround’ out of a difficult situation or prob- lem. Ultimately, the ideal business coaching strapline is ‘more profit, less time at work and happier people (team, pa- tients, suppliers and family)’. ‘Happier people’ above all should mean a happier dentist. Dentists have got the second highest rate of sui- cide of any of the other pro- fessions, and the highest rate of alcoholism. The reason be- ing that a lot of dentists are unhappy people; part of the business coach’s role is to try and get them as happy as they can be. When appointing a busi- ness coach, it’s imperative to check their formal coaching qualifications, to ensure have been trained in the formal procedures of how to conduct a coaching relationship, as well as to read testimonials from their clients. However, it’s not only about qualifica- tions and experience; it’s also about ‘the magic’. If you don’t feel good about each other, then no amount of qualifica- tion or experience will make any difference. The coach and the client are effectively in- terviewing each other and the dentist has got to ask him or herself - does it feel right? Am I enjoying myself? A lot of it is intuitive. I think that’s why women generally make better business owners than men, because they follow their intuition, which is usu- ally very accurate. When bra- vado and ego get in the way, it always goes wrong. A business coach becomes part of the team, and impor- tantly, a team member with the experience that the dentist does not yet possess. What- ever the business venture, whether it’s a dental practice, florist or pub, it’s going to be a good idea to have someone around who’s got a 10 to 15 years’ head start. There’s a fantastic quota- tion attributed to North Amer- ican Indians, ‘wisdom enters through the wound’. In other words, if you’re going to open a business, you need a bat- tle-scarred veteran on side; someone who’s run their own business and experienced both failure and success. They know the taste of both, so they know what to do when either one occurs and will be able to pass on that experi- ence to you. As for fees, it’s a cliché but you really do get what you pay for. There are coach- es who will work for £500 a day, £2,000 a day or £5,000 a day. You’ve got to ask your- self, what is it that you want and what are you paying the extra for? Let’s face it, if you want to be a dentist who is grossing £4,500 a day doing implants, do you really want a consultant who is grossing £500 a day? Surely, you want to hire a coach that charges £4,500 a day because they know what that feels like. They understand that conver- sation and know how to look someone in the face without blinking and say ‘that’ll be £4,500 please’. In the mid-1990’s, there were probably three UK den- tal business coaches. Nowa- days, there are a huge number to choose from. Also during that time, the demographic of dental practice ownership has changed. Previously, practice principals were between 45 to 60 years old, now people start buying practices at 35. Specialisations have also begun to creep into coaching in the same way that you get specialisations in dentistry. There are those who focus on areas such as marketing, team training, financial con- trols and management, social media marketing, treatment coordination, front desk and telephony, and so on. Dentists need to determine if they need general busi- ness advice from a strategic perspective, or very specific tactical implementation, or both. Take a good look round the marketplace to see what’s available and decide if in- dividual help is needed or a blended solution from more than one provider. As with any business, a dental practice is at its most productive when principals surround themselves with the right people in the right roles and delegate accordingly. How can you move to the next level if you can’t see the big- ger picture? Having a skilled team in place – including a business coach - is the dif- ference between being down in the trenches and sitting in a hot air balloon with a clear view all around you. DT Finding the right coach for your practice Chris Barrow discusses the benefits of the right business coach About the author Chris Barrow has been a consultant to the dental profession for seven- teen years. He is the co-founder and Managing Director of the BKH Group of Companies and runs Chris Barrow Live At BKH, which offers high-end coaching expertise to take advanced practices to the next level. For more information about Chris Barrow Live at BKH please call 0161 820 5466 or email Chris Barrow at chris@bkh. co.uk Want to stay in touch with the Barrow Kwong Hing Group? Con- nect with us here Facebook: www. facebook.com/bkhgroup; YouTube: www.youtube.com/BarrowKwongH- ing: LinkedIn: www.linkedin.com/ company/barrow-kwong-hing-group: Twitter: Chris Barrow @ChrisBKH, Dr Al Kwong Hingv@AlanBKH ‘I think that’s why women generally make better business owners than men, because they follow their intuition, which is usually very accurate’