Here’s a question for those brave souls looking to take a solo practice or a small group and turn it into a budding DSO:
Is your business succeeding because you’ve built the right systems or because you’re holding it all together yourself?
This is a bit of a leading question, but one that matters because it points towards the mindset transition that you’ll make moving from practice owner to CEO. As a doctor-owner of a small business, you’re right in the thick of it every day. When trouble brews, you’ll probably catch it quickly — and handle it on the fly.
As a CEO charged with overseeing your emerging DSO, though, and all of the dental practices that come along with it, you won’t be able to put out every fire on your own. No matter how capable you may be, there are simply not enough hours in the day.
Instead, you’ll need to have strong, effective systems in place and a team to keep them running smoothly. And the time to start building those systems is now — not when you’ve got a half-dozen angry partner dentists calling your office to complain about a nitrous shortage because you were too busy closing an acquisition deal to remember to cover for your supply manager while she took a long-overdue trip to Cabo.
So start asking: how can you help give your organization the tools to thrive without you personally keeping all the balls in the air?