On April 10, 2013, the Illinois Department of Financial and Professional Regulation’s published a letter on their website titled; “Voucher Advertising and Fee Splitting”. (Groupon and Living Social sites) The letter states that fee-splitting does not apply as long as (1) the negotiated fee between both parties represents reasonable compensation for the cost of the advertising and (2) the advertisement incorporates clear and easily visible terms – conditions of the offer (stated in the letter) that will allow the consumer to make an informed choice for purchase.
A huge thanks to the people that voted me and Dental Performance Institute into this category on DrBicuspid.com and thank you to all the voters. I am honored and looking forward to the results.
More info to follow.
Chicago, Illinois– Dental Performance Institute is announcing the launch of a program tailored to assist the dental practitioner and dental business owner in understanding his/her Entrepreneurial DNA by completing and understanding BOSI’s Profile Assessments.
As a Certified Partner of BOSI Performance, (home of the book Entrepreneurial DNA), Dental Performance Institute is equipped to help the dental practitioner generate breakthrough success in their business while surrounding themselves with team members who will work with them to achieve their goals. BOSI stands for Builder, Opportunist, Specialist, and Innovator, which are the 4 behavioral DNA’s of an entrepreneur. BOSI’s research proved the simple but critical fact that not all dental entrepreneurs are the same. Each dentist possesses unique business traits and capacity.
“We are looking to assist the dental practitioner in understanding their specific business behavioral characteristics so they know which direction to take when focusing on certain operational aspects of building a successful practice.” says Dental Performance Institute founder Diana Thompson.
Discovering one’s Entrepreneurial DNA is the first critical step in understanding why certain operational areas of their dental business are not functioning at the levels they should. One’s distinct BOSI Profile will help determine entrepreneurial tendencies, strengths, and growth areas and will assist in choosing team members who compliment specific business behaviors. Whether one needs to optimize results within their current business plan or create a mapped strategic plan for a new venture, Dental Performance Institute will work with the dental practitioner and their team to formulate a game plan – mapped to their ‘Entrepreneurial DNA’.
For more information, call 630.549.3224 or visit www.dentalperformanceinstitute.com
If I had a dime for every time I was asked these three questions, I would be comfortably wealthy.
“Why is it that the dentist down the street is doing well operating his/her practice and I am struggling to make mine a success? We have the same sized practices and are operating them the same way!”
“I have a revolving door when it comes to my staff. How do I hire the right people to work with me?”
“My business partner and I agreed to part ways. Why is it that a large percentage of dental partnerships fail?”
Because there is no longer a ‘one-size-fits-all’ approach to operating a dental business, hiring the right team to complement or add to the success of that business, or choosing the ‘right’ dentist as a business partner. Let me explain.
I looked up the definition of an entrepreneur in The Merriam-Webster Dictionary. It reads, One who organizes and assumes the risk of a business or enterprise.’ So I think it is safe to say that the majority of dentists, who own and/or operate a practice or business, are entrepreneurs.
For many years, dental entrepreneurs have been placed in a jumbo box with the belief system that the techniques used or followed to operate a business; hire the right team members, and possibly form a partnership should be approached the same way, with the same methodology. This thought process and direction is just not true anymore because not everyone is genetically built the same way. Unfortunately, this notion has put some practices and companies out of business.
Point to ponder – Is Donald Trump the same entrepreneur as Richard Branson? Is Richard Branson the same entrepreneur as Dr. Oz? Is Dr. Oz the same entrepreneur as Steve Jobs? Think about their business behaviors, how they started out, the product or service they brought to market, and the road they chose to make a name for product and/or service.
In the 21st century, a new and different model, focusing on the approach and understanding of entrepreneurship is finally shedding its light. It’s called ‘Entrepreneurial DNA’ also called your ‘BOSI Profile’. BOSI stands for Builder, Opportunist, Specialist, and Innovator. ‘Entrepreneurial DNA’ and the BOSI Profile help the dental entrepreneur discover their distinct ‘mode of operation’ in both their business and personal life. So what are the characteristics of each profile?
The Builder or B DNA make up 10% of business owners. These are individuals who create highly scalable companies and grow them to millions (and billions) of dollars in revenues almost effortlessly. They are built to deploy high-growth systems and lead large teams.
The Opportunist or O DNA make up around 30% of business owners. They are drawn to ground floor opportunities and tend to dabble in multiple industries, often at the same time.
The Specialist or S DNA represents around 45% of all business owners. They go through years of schooling, apprenticeship or on-the-job training to develop expertise in an area. They tend to pick an industry and stay in it for 10-30 years.
The Innovator or I DNA make up around 15% of business owners. These are the ‘mad scientists’. They want to change the world with their innovation. They would much rather be in the lab of their business than in the office or around business operations.
These definitions offer a brief explanation to get you started on the path to discovering your unique ‘Entrepreneurial DNA’, while learning how to make it work specifically for you in your dental business and life.
What do you think your unique ‘Entrepreneurial DNA’ is? You can find out by completing your complimentary assessment at *BOSI Initial Assessment.
“Mr. and Ms. Dental Entrepreneur; you are unique. Your distinctive BOSI ‘Entrepreneurial DNA’ has and will continue to shift into action whenever a decision is being made. To make the right decisions, you must Discover your specific primary and secondary ‘Entrepreneurial DNA’ traits, understand the strengths and weakness of each, Design a plan of action just for you, and Deploy your customized plan into your marketplace. If you are interested in enhancing your current business plan or creating an action plan to work with your new business venture based specifically to your ‘Entrepreneurial DNA’, Dental Performance Institute can assist you.”