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Does anyone here have business training.....

Discussion in 'Dental' started by MsPurtell, Apr 29, 2007.

  1. MsPurtell

    MsPurtell Guest

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    ....here I go again. I knew it wouldn't take me long to want to continue school. I'm thinking of taking some online courses to help with the business end of running a practice, as well as with understanding how to invest money.

    Any idea what types of courses or programs I should look at? MBA? Finance?

    Thanks
     
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  3. Regmata

    Regmata Member
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    Read the book Ten Day MBA, get a financial advisor and call it a day. Unless you want the paper, you should be able to teach yourself (with appropriate texts) to be a better business person.
     
  4. MSDMD

    MSDMD MSDMD
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    I got my MBA prior to D school, and I feel like other than learning a little bit about accounting (most of which I already forgot), I learned very little that I didn't already know. Most of the business concepts that they teach you are just common sense; I feel like experience in the real world will get you there quicker and with less effort with busy work, etc. Granted, I did not get my MBA from an elite school, and when I started the program I was going to work on the MBA with an emphasis in health care administration, but the program did not offer enough electives in this area for me to graduate with that emphasis. Maybe that would have made a difference, but I don't think so. That being said, I agree with the previous post, just do some self teaching and maybe talk to some financial guys, then research what their suggestions are so that you are educated about the specific decisions that you are trying to make.
     
  5. DrJeff

    DrJeff Senior Member
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    One of the other big factors, and this is something where only you can have this conversation with yourself to figure out, is what type of employer/employer style are you/are you going to have?

    This has alot to do with your personality trait, and will greatly influence how, one day as a practice owner, you'll run things. Basically put, are you a hands on everything micro-manager, or a big picture, its fine as long as it gets done macro-manager???

    The micro-manger will be going over every last detail, even if you implicitly trust your office manager/front desk coordinator. You'll be the type that typically will have individual employee reviews quarterly, and tends to have a higher staff turnover rate as a result of your staff sooner or later feeling irritated by you watching their every move. Often your staff will quit before you might have to fire them with this managerial style.

    The macro-manager will look more big picture, and as such, issue a task or goal for the office, such as say "I'd like to see a 5% decrease in accounts receivable this year" and not worry too much about how your employees accomplish this. You'll trust that your employees have enough smarts/ability to accomplish this. You'll tend to have far more infrequent employee reviews, and are a hands off boss. You'll tend in this situation to have to fire an employee rather than them quitting.

    Each style has thier own place, and neither is right or wrong, its just what works best for your and your employees, and often the final product is a combo of the two.

    As for the true business nuances, alot of that is what you'll end up hiring people for. Tax issues, with how complicated and how fluid the tax laws are, your best bet is to hire an accountant you trust to guide you through this area, a good accountant 99% of the time will save you way more in taxes each year than you'll pay them!
     
  6. MsPurtell

    MsPurtell Guest

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    Thank you guys. I'm thinking that "Ten Minute MBA" is looking very good right now. I was looking online at bullsh!t MBAs and even they will cost 25K. So, it's a no go. I'll figure the sh!t out for myself.

    Dr Jeff...I'm hoping I can be a macro-manager. There's nothing more annoying that a micro-manager. I can understand why people'd split in a jiffy. I'm hoping my partner will be a natural at this and I can model him/her.
     
  7. DrJeff

    DrJeff Senior Member
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    I had the oh so enjoyable Macro-manager task about a week ago of having to fire not 1, but 2 employees on the same day:eek: My partner and I had to have a couple of beers with lunch that day(no patients be treated after lunch that day;) ). It was really one of those "I hate being the boss" kind of moments during the first firing, and then I had the pleasure of the same moment again just a few hours later for "round two".

    On the flip side, the "problems" of the office are now gone, and the overall morale of my staff has been unbelievably positive since "d-day"
     
  8. OceanBlue

    OceanBlue HA! I knew it.
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    did you do the hand gesture then say "You're Fire!"
     
  9. DrJeff

    DrJeff Senior Member
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    I don't have nearly a bad enough hair-do to make that maneuver!:D
     

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