Dr Nauv Kashyap joins me for the first episode of a 3-part series on the Stages of Practice Growth. The series focuses on what you need to be doing so you can progress through the stages at a good pace. In part one, we cover location, marketing a dental practice, and more.
Nauv is the founder of Practice Ownership Consulting, Australia’s first dedicated consulting business to help employee or associate dentists explore practice ownership. Many dentists have become practice owners and achieved excellent results with Nauv’s help. Nauv provides expert guidance as they take on the challenges of ownership.
Nauv bought his first practice in 2008 with approximately $400K a year turnover, and 2,500 patients. That practice has seen more than 20,000 patients. In 2015 it will turn over approximately $2.5million. Nauv has also started a further ten dental practices and sold a number of practices. He continues to find opportunities for successful start-ups and takeovers even in a saturated market.
In this episode we talk about:
- The first stage of practice growth
- How to choose a location for a dental practice
- How Nauv determines the socio-economic status of an area
- Marketing specifically to your location
- Marketing gains and pitfalls to avoid
- The important of delegation
- Marketing niche procedures
- Nauv’s biggest miss step when starting up