Taking business classes during summer break?

[mammalons]

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I was wondering what the best way is to "learn the ropes" of managing a private practice? Does anyone think taking business classes over the summer is a good idea, and if so, what classes would you recommend?

 

[Rajan247]

I was wondering what the best way is to "learn the ropes" of managing a private practice? Does anyone think taking business classes over the summer is a good idea, and if so, what classes would you recommend?

depends on what classes your going to take.

personally, you should take a basic accounting class so you understand basic financial statements and the components of business.

HR Classes are always solid.

Other than that, talk to dentists who have been successful and see what they are doing. No sense in reinventing the wheel.

 

[Daurang]

This is like the question about the worthiness of getting your MBA; most of here said it's relatively useless. Nothing beats natural instinct and a little luck. Leave the numbers for your CPA; take a vacation and read a book instead.

 

[mammalons]

Won't I need at least some background so I can know if my CPA is doing a good job?

 

[Rajan247]

Won't I need at least some background so I can know if my CPA is doing a good job?

hence understanding basic financials and understanding the in's and out's of your business.

 

[ephesus32]

Can we get more responses as to which business classes one should take to prepare for practice?? Thanks in advance!

So far, I have we should take an basic accounting class (like accounting 1 and 2) and one should take a basic business management class.

Is there anything essential others wished they had taken? I'm also under the impression that most dental schools do not prepare you for practice too well.

 

[Rajan247]

Can we get more responses as to which business classes one should take to prepare for practice?? Thanks in advance!

So far, I have we should take an basic accounting class (like accounting 1 and 2) and one should take a basic business management class.

Is there anything essential others wished they had taken? I'm also under the impression that most dental schools do not prepare you for practice too well.

honestly, there really aren't too many other classes that I would take. I was a Finance major in Undergrad and honestly, its good to know the basics, so you can keep an eye on whats going on.

Instead, you should explore some CE in practice management. That would be more pertinent and help you hone your dental practice management skills.

 

[mammalons]

CE?....classical economics?

 

[Rajan247]

CE?....classical economics?

continuing education.

 

[mammalons]

continuing education......yeah, makes more sense than classical economics🙂

Thanks for your input.

 

[mammalons]

Hey Rajan, what do you think about forgoing the formal classes and buying some good textbooks, and in the process saving some money?

 

[Rajan247]

Hey Rajan, what do you think about forgoing the formal classes and buying some good textbooks, and in the process saving some money?

it cant hurt, but I would not personally do it.

If your going to get a book, get basic accounting and basic law, so you understand terminology that you will see e.g employee at will, non-compete etc.

Most CE you take you can take free right now because you are a student. USE that to your advantage and learn as much as you can gratis.

 

[makushin]

.

 

[gryffindor]

Agree with the other posters. I'd like to add my $.02:

1. Don't bother with textbooks. Go to the bookstore and buy a few of those "How to Run a Small Business for DumIdiots" books or something along those lines. Cost: < $30

2. Don't spend your summer taking business classes, use that time to instead read Dentaltown for plenty of real life advice on running a dental practice. Cost: $0

3. If you absolutely need to take a class to make yourself feel like you're learning, look for dental-specific CE classes on running a practice.

4. If you want to have an idea of what your CPA is doing, get a calculator and try doing a rough draft of your own taxes. The forms and instructions are free, and if you read the forms and plug in some numbers, you can learn a lot about where your money stays and goes. It's even easier with those tax programs. There are also dental-specific CE courses on doing taxes as well.