Are you a female dentist frustrated and demoralised by your experiences as an associate or locum? do you think you could run a practice better, taking better care of patients and the team? Are you considering taking the leap into practice ownership? In this blog, we’ll explore some of the challenges that female practice owners have face so we can help you avoid or overcome them.
Those who know that are aware of a potential problem are better prepared to face it.
1. You have expertise
Starting your dental practice and making the transition from associate to a practice owner is a big step. You will need to develop a completely different skill set was no small feat. you have studied, worked hard and many of the skills you have developed can be cross pollinated into your role as a principal. The most important skills that you will have developed that will be essential as a principal include a positive abundant growth mindset, organisation, relationship building and your ability to work incredibly hard combined with multitasking.
2. Build a support network
There is no denying it gender bias exists. the old quip behind every successful man is a woman. As a woman, you will need to build your support network to that you can focus on what is important to you. When you have a team of people who have your back, your competence and dedication as a practice owner will shine brightly. Look after your team and your team will look after your practice.
3. Develop your business skills
Practice ownership and clinical skills are different, and you cannot run a successful practice without developing a new skill set. work with experts that can train you and coach you, start developing your business skills at least three years before you become a principal so that you can hit the ground running. If you have bought the practice and not yet started learning anything about business start asap.
4. Protect your money.
Research has shown that financial institutions are less likely to or lend less favourably to women. Learn to love a spread sheet, know your finances inside out, create a working business plan, learn how the bankers think. once you have your practice manage the finances with a tight grip, designing and implementing financial systems that protect your investment. Be sure to all the documentations that demonstrates you and your practice’s potential for success.
5. Balance Work and Life
As a woman, you will have responsibilities, social expectations, and emotional tugs that men may not experience. for your practice to run well your emotional and physically batteries need to be fully charged. Juggling the day-to-day practice operations, long term strategy planning and family life can be demanding. put yourself and your needs first, eat well, sleep well, and exercise daily. This is where your support network will come in and be worth their wight in gold. If someone else can do it as well as you or better, delegate to them. Only do the things that you are uniquely able to do that is the visionary inspiration for the practice, and other female roles such being a mother and wife. Be easy on yourself; finding balance is an ongoing process, which will change at different points in the year and form year to year.
6. Work with a Coach
Practice ownership is tough and often lonely. Coaching is a powerful tool for growth and support. Your coach will not tell you the answers, they will give you time and space to think, reflect on what is important, they will give you tools to clarify your thinking so that you feel confident in the decisions you are making. When you work with a coach that has expertise with therapeutic coaching, they can help you diffuse the emotional triggers and stresses that you experience as a woman and the gender bias you experience.
7. Celebrate Your Successes
Practice ownership can be hard and feel like there is always another task to be completed and you are constantly moving on a conveyor belt with little time take a breath. for all the business it is important that you give yourself time and acknowledge your achievements, no matter how small they may seem. Keep a journal of all your successes that you can refer to when you are feeling overwhelmed, every achievement you make inspires your team and will remind you of your tenacity and resilience.
8. Continue to learn
Continuous learning is essential, your practice is either growing or dying there is no status quo. Invest time in developing your business skills stay up to date with books seminars and podcasts, you will probably need to do as much, if not more, business CPD as clinical.
You are part of a growing community of inspirational female dental practice owners in the UK who are achieving remarkable success. Your journey will have its challenges, and it will also be filled with success, creating lasting memories. you will create a legacy that will be an inspiration to others by making a lasting impact on your colleagues, patients, and next generation of dental practice owners.
