How to add £100k to your top line.

Growing turnover is no easy task. As someone that has grown businesses from scratch, growing turnover has never been easy. You have to be creative, inventive, persistent, and also a little lucky. At the outset of the Samera business i recall wearing some pretty awful t-shirts saying "Creating Business Skilled Dentists" and walking around the BDA conference in Manchester with Smita trying to get my first clients. The guys on the A-Dec stand took pity on us and fed and watered us, and allowed us to hang around on their stand rather than being booted out of the exhibition. That was the first step to growing our first £100k of turnover for Samera.

For The Neem Tree, likewise, i recall the opening day on the 5th July 2004 when Smita was pretty heavily pregnant. We organised the World's First Outdoor Toothbrushing lesson outside Wandsworth Town railway station. Luckily for us, a few eager beavers came along with the local press and got their freebies. They then made a booking for their first appointment. That was the first step to growing our first £100k of turnover for The Neem Tree Dental Practices.

Things have changed a lot since then, but if i had to pinpoint the key to growing the turnover from zero, it has to be about us having a clear strategic plan. So what is a strategic plan?

In my opinion, a Strategic Plan is a well thought out plan that:

1. Details your vision of what you want to achieve

2. Has your SMART(Specific, Measurable, Achieveable, Realistic, Timely) objectives to help you achieve your vision

3. Includes all the Critical Success Factors(Things you must get right) in order for you to achieve your vision

4. Has key measures in place to see how you are getting along to achieving your vision or outcome.

My business strategic plan goes everywhere with me, and is regularly updated by myself, with ideas, objectives and ultimately my up to date vision. Without this fundamental document, my business revenues would still be near zero, or perhaps i maybe back in my job in the City having not achieved my original vision.

So is it time for you to set a clear strategic vision for yourself?

Ask yourself, what is your vision for your business, professional and personal life?

Not sure? Then come along to Samera's "How to add £100k to your top line" event on the 6th November. Not only will you get a clear strategic plan for your business, you will be on the road to adding £100K to your turnover, as having a clear strategic vision is the essential ingredient for adding £100k to your top line!

Normal price £200+VAT for the day, but if you book before 28th September 2009 (yes that is this coming Monday!) you get it for just £150+VAT.

For more details and to get your discounted price click here.

Raising Finance in Dentistry

Creating a compelling reason to raise finance

At our recent Setting Up In Practice event (if you missed it check out my video feedback on the day here, and book your reduced rate space for next March's event here) one of the key questions amongst delegates was how easy is it to raise finance?

Well as we all know raising finance in a credit crunch has not been easy. Small business associations report banks are reluctant to lend to small businesses, whilst banks say they are now lending again. Who should we believe?

Well from my experience in the dental sector raising finance is still possible. Gone are some of the Irish banks providing finance (as the Irish property market has dived), but most of the large banks view Healthcare as a target sector hence they are pretty keen to lend to dentists. However, gone are the days of 1% above base rate, the best rates i am currently seeing are more around the 2%-2.5% above base rate. Still a very competitive rate considering how low the base rate currently is. Most businesses outside dentistry would probably have to borrow above 5%+above base rate, so as you can see dentists still command a great deal, however.....

Banks are much more careful in their lending policies. Their credit teams have had their fingers burnt previously so they are being much more choosier about what and who they lend to. They are looking for:

1. A credible individual/partnership that has a strong track record

2. Experience of what they are doing

3. A good earning history

4. Well managed personal finances

5. The character of the individual(s) seeking the money and possibly some security

6. A well thought out business plan with supporting financial forecasts

Naturally each bank will look at each deal differently, but the scope for raising finance is still alive and kicking in the dental sector, you just need to know how and where to look!

Sylvie's Ultimate Practice Management Programme

We have had 3 sessions of Samera's Ultimate Practice Management Programme. This programme is free for one individual from Principal clients of Samera. The feedback has been superb, and Sylvie (our practice management whizz) is on fire about the next 9 sessions! The group are learrning from Sylvie, but also with so much sharing going on, the whole group are learning from eachother too!

Take a look at her video highlighting how it has been going and the topics learnt by the attendees.

No video? Click here.

To join the programme is easy. Either become a Principal client of Samera (then it is free) or alternatively pay £200+VAT per session.

Associate Accounts - Last Chance at £10

We have had a lot of downloads of our DIY Associate Accounts in the last six months, but the time is coming closer for submission of the self assessment return. This is your last chance to get the key to doing it yourself for £10+VAT. After 30th September the fee rises to £20+VAT, and as we approach the January 31st deadline the fee will rise accordingly.

So get yours today for just £10 by clicking here, before the price rises kick in!

As ever have a fun week ahead and constructive feedback always welcome!

Arun

P.S. Watch out for our Samera e-shop coming soon, we will be having lots of ebooks available for you to download!