Why you shouldn’t make the loss of income put you off team training in your dental practice
Every great clinician invests in training for his or her own personal development and progressive practices will do the same for the development of their team. It does however create a financial dent, not only in the investment for training but also the loss of income from closing the practice.
This is real concern and put’s huge pressure on you to choose the right training company. Fear exists because you want the business and everyone in it to greatly benefit from the monetary spend.
Where do you begin?
If you want to invest in specific training for your team, know who to choose and where to start you need to be clear on your overall business objective. What is it you want to achieve?
Once you know the result you are looking for you should be able to identify the areas your business needs to grow in. You may want to increase your income. You may want to refine and polish the service you provide. You may want to increase profitability. There are many different needs your business will have. Your goals should work towards increasing turnover and profitability. The training has to make financial sense.
Let’s take an of example a training day costing £1500 for your entire team. If your daily target sales target is £4000 then your total deficit is £5500.
Starting with that figure can be off-putting but you need to start here to truly put a value on what you want to get out of it. You also need to have the ability to see the bigger picture and to understand ultimately what that training will provide for your team, your patients and your business. Look at both short and long term benefits.
Also consider your operations. If there are shortcomings that will reduce your ability to reach your vision and business objectives, sometimes it’s a case of you can’t NOT do it.
I invest heavily in my own training and of course I consider the investment but much of the time I simply can’t not do it. I never regret it because I carefully select the best people for my needs and have grown richer as a result. Sometimes, however, you have to put the brakes on if it isn’t going to influence your overall objective.
Once you know you want and need training and have selected a company to work with your team you then need to do the sums
- Consider all the areas your business has to improve on
- Calculate loss of income in closing the practice.Look at where you can open clinic time prior to the training to make up for lost income.
- Involve your team heavily in outlining what you want to get out of the training.
- Provide your team with evaluation forms for the training so you can discuss it together afterwards. A richer learning will take place afterwards once you have collaborated your notes, thoughts and ideas that often grow after training.
- Set some goals from the training so you can continuously action ideas and keep the initial momentum going.
- Learning and development are never complete so keep exploring exactly what your business needs and when you can schedule it in. A good consultant or trainer will be able to help you see the bigger picture and guide you through what would work best for you at different stages of your business.
Let’s discuss this
How have you overcome the financial deficit of training?
What positive results have you had from training in your practice?