Not Like Other Businesses
They say that business is business, and that to be successful, one just needs to follow basic business plans. Well … for many years, I argued that our profession is different from most businesses. Yes, if you own a laboratory, you are a business owner. Most of us, as dental technicians, hopefully concentrate more on the learning and production of restorations while considerations about running a business are usually secondary. We make body parts, deal with microns, and—most of the time—enjoy what we do. We are not like other businesses. Some of us, probably more so in the past, focused purely on the business of dentistry.
I believe that things are different today. Let's face it: In the past, when we opened a laboratory or took one over, we based our fees upon what other technicians charged. We did not cost analyze or even weigh out the value of our time. Still, to this day, after hours of a lecture where I strive to share a wealth of information, the No. 1 question technicians ask is, "What do you charge for a crown?" My answer over the years has not changed: "What difference does it make what my fee is?" Our value should be based upon our knowledge and the application of how we use it, not the going rate of another technician's fees. So, I usually ask: "What is your time worth?" Most struggle to answer this question. Remember, however, that value is based on our knowledge and implementing the diagnostic process, not the time we spend in hours or years at the bench. Yet, we say, business is business. On the corporate side, I have watched many large companies bring in business leaders from other professions to incorporate their business knowledge into our profession. The results are usually not very successful. Why? We are not like other businesses, and the standard rules often do not translate well to our profession. Although there are a few exceptions, our didactic approach to achieving lifelike prosthetic devices is what drives us, now more than ever.
Still, as the digital evolution made its way into the dental profession, it brought business strategy along with it. The thought of investing in updated and new expensive equipment that we did not need in the past has caused many of us to re-think our businesses strategies with more of a focus on the return on investment (ROI). Today, milling machines and their related software cost considerably more than the cost of a new wax pot or perhaps an electric spatula of the past. We did not need to ask how many restorations we had to make to pay for them. In this way, the price of technology has forced us to think more like business owners with more of a focus on the benefits and cost of our business investments while remaining focused on the artistry of our work. Our businesses are becoming more modern in both technology and the business thought process.
Peter Pizzi, MDT, CDT
Editor-in-Chief
ppizzi@aegiscomm.com
