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TAKE PAUSE DURING THE GREAT PAUSE: A WEBINAR FOR DENTISTS

June 18, 2020
 
 
If you missed the webinar for dentists we hosted on May 29th, "Take Pause During the Great Pause," don't worry! We're providing a summary of the valuable information presented by three knowledgeable panelists.
 
While the webinar was designed with dentists in mind, the advice and recommendations offered are applicable to any business owners in the medical industry - optometrists, chiropractors, therapists or any other medical office.
 
Panelists included our very own Randy Gerber, founder and principal of Gerber, LLC, Jim Boltz, president of Zimmerman Boltz & Company, and Cheryl DeVore, senior partner / attorney at Thomas Law Group.
 
Here are the key takeaways:
 
BE THE SOLUTION, NOT THE VICTIM
Don't play the victim card. We are all learning how to navigate this "new normal," so we should push hard to be the best business owners we can be. Take this "pause" to really identify whom you serve, how you serve them, and how you are going to grow your business.
 
REVISIST WHY YOU ARE IN BUSINESS & REEVALUATE YOUR TEAM
Know your life goals and your business's WHY, and make sure they are aligned. Solidify your core values - those statements that truly define your company - and hire and fire against them. Dentists had to make fast employment decisions when non-essential businesses were forced to shut down, and many furloughed employees. "The Great Pause" may allow for changing the terms and compensation of your team upon rehire. Ohio's rehiring at-will law allows flexibility on who you rehire and when. Bring your A-players back first and work from there. A slower start is a better start.
 
REVIEW YOUR FINANCIAL STATEMENTS
Most business owners live day-to-day, paycheck-to-paycheck, without considering how much cash they have. The crisis exposed the fact that businesses don't have much cash. Now is the time to think about cash flow instead of revenue or competition. Use this appropriate tools to predict your cash flow.
 
COMMUNICATE
Returning to the dentist might be a scary thought for some patients in light of how the coronavirus spreads. Let patients know the precautions you are taking to keep them safe. They may find peace of mind knowing that the dental industry has already taken extreme safety precautions since the introduction of HIV. Keep educating your patients. If you need to charge them extra to cover the cost of increased PPE, communicate that, too.
 
CREATE A CONTINUTIY PROCESS
Crises are inevitable. We saw them during 9/11, the 2008 recession, and we're seeing one now with a global pandemic. While the specific type of crisis can't be predicted, we can prepare for the next one no matter what it is or when it is by having a continuity process in place.
 
Document a process for who will run the business if the owner is unable to; identify a succession plan; appoint a guardian for your children in case you can't care for them; and make sure your spouse knows how to continue the business if you are aren't available. Like the Boy Scout motto, always be prepared.
 
If you'd like more recommendations on making the most of "The Great Pause." please reach out!
 
And if this summary peeked your interest, watch the full presentation here!
 
We hope you will join us for more upcoming events:
7/1/2020: Success Beyond the Great Pause(a webinar for restaurant / bar owners)
 


INDEX
  • INNOVATE, UPGRADE & DOMINATE
  • RECOVERING FROM THE GREAT PAUSE
  • THE VALUE OF INCLUSIVE LEADERSHIP: PART II
  • THE VALUE OF INCLUSIVE LEADERSHIP
  • DO YOU HAVE WHAT IT TAKES TO BE AN ENTREPRENEUR?
  • DEAL CLOSING IN UNCERTAIN TIMES
  • WHAT IS A CASH FLOW FORECAST AND WHY YOU NEED IT
  • LEADING TO SUCCESS - LEADERSHIP HIRING DURING COVID-19
  • A NEW KIND OF ENVIRONMENT - THE EVOLUTION OF PEOPLE AND PLACE DURING COVID
  • SUCCESS BEYOND THE GREAT PAUSE CONNECTION, CASH, CREATIVITY & COLLABORATION
  • THE STATE OF COLLEGE IN 2020
  • TAKE PAUSE DURING THE GREAT PAUSE: A WEBINAR FOR DENTISTS
  • GET A GRIP! AND GET WHAT YOU WANT OUT OF YOUR BUSINESS
  • YOUR LEASE IS UP, NOW WHAT?
  • LETS TALK PE MINORITY EQUITY: THE ALTERNATIVE SALES STRATEGY
  • BUILDING A BEST PLACE TO WORK
  • GETTING YOUR BUSINESS SECURITY IN CHECK
  • SONGS AT THE CENTER LIVE AT GERBER! PART DEUX
  • MOTIVATING THE HIGH PERFORMERS IN YOUR BUSINESS
  • WHAT YOU DON'T KNOW... WAGE & HOUR LAW IMPACT FOR BUSINESS OWNERS
  • INTELLECTUAL PROPERTY AS A VALUE DRIVER FOR YOUR BUSINESS
  • COMPETITION FOR CASH
  • FOR BETTER OR FOR WORSE
  • HIRING THE RIGHT CONTROLLER FOR YOUR BUSINESS
  • GUYS' NIGHT WITH GERBER
  • LADIES' NIGHT
  • BUSINESS GROWTH MADE SIMPLE
  • SONGS AT THE CENTER. LIVE AT GERBER!
  • UPSTREAM GRATITUDE: CREATING A CULTURE OF GRATEFUL EMPLOYEES WHILE INCREASING YOUR BOTTOM LINE
  • DIGITAL DANGERS AT HOME
  • ORGANIC CONTAINER GARDENING
  • COOK HEALTHY, COOK EASY
  • HIRING IN A HIGH-GROWTH ENVIRONMENT
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