LinkedIn Question: Feel that businesses should care more of the person, less of their wallet?

LinkedIn Group Question:

Do you feel that businesses should care more about the person, and less about their wallet? http://t.co/6yt0p12d5n
— That Guy You Know (@TGYKCCR) September 5, 2013

Do you feel that businesses should care more about the person, and less about their wallet?
-- Same question tweeted by @TGYKCCR

My Answer, Comment...

Depending on who this question is addressed to: the consumer or the employee, there are various ways to come at this, which include...

As to the consumer, a long term focus is often the best way to approach a business endeavor. Obviously, some concepts like gold mining may have a short life expectancy. Otherwise, if the focus is weighted toward the wallet, the future opportunities can be, and I think often are, missed. In that case the business is pushed toward even more "immediate gains" that will engender abuses on a greater scale. This "wallet weighting" has a tendency to work against the community as a whole, generating more gouge and flight to other areas endeavors, to find more suckers.

Of course, not all businesses that focus too much on the wallet go as far as to do "bad" things, but broad ethics relativity comes into play where will be promulgated a justification of a mushy business model, eyes-averting entrepreneurialism, and "quasi-capitalism".

As to the employee, once the owner/corporation believes it should/must hold all the cards, the likelihood of deriving new life from the company over time is very often eliminated, even if the "main profit ideas" come from the owner/corp. The owner/corp only has a certain amount of life without making the "person" a vital element of the everyday thought process, which creates a true well run company, and then sustains it.

A give, and less take, strategy will outperform the opposite. This does not suggest any "giving away" of "excess funds" but of consistent and persistence of educating for success/believing in the success of the employee within the company. While this is difficult in practice, and the "perks" are constantly undulating in the marketplace, the rewards for developing a good planning structure (no one plan may work forever) is significant, and generates wider and more stable success. If the owner is out for him/herself, it is very likely the employee will be as well. A gambler can lose all, then win big, and pull all the chips their way, but a business owner does not put employees on his/her personal roller coaster of "me first, 2nd and 3rd" and find continued success.

My shorter tweeted Answer, from a Twitter account, TownAndChamber

@TGYKCCR trope "I'm used to seeing/hearing"=an owner should/must/does hold all cards. However, when actually the case= a biz destined 2fail.
— Towns And Chambers (@TownAndChamber) September 5, 2013

Sincerely, Richard The Chwalek

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Twitter.com/NicheDental

Dentists Marketing Consulting

Dental Social Media

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• Call 1+888.380.0020 and schedule a consultation with my Co-consultant Oli Gonsalves.

• Dental Communications and Marketing Consultant
• Northern Dental Alliance Member/Co-Founder

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Oklahoma Oral Surgeon Puts Perceptions On Notice Too!

Commented in a Google Plus post that relates to following dental news story:

Instrument sterilization key to safe dentistry »

Aberdeen-area dentists say incidents like the one that put Oklahoma oral surgery patients in danger are rare.

My focus, Richard The Chwalek, is on the 'marketing/communication' element of the overall presentation in the practice and how it affects what people will think of the practice initially...

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There are three key elements patients need to notice when visiting a dental practice.

While my suggestions will not make it self evident or preclude the need to ask specific questions about a practice's safety precautions, I would suggest these visual cues are being covered for both dentist and patient to take notice of: think perception is reality.

Don't want any consumers walking out before they can ask those safety questions...

1. The practice should be up to date {much or all of it within last 7-10 years} glistening clean, not crowded, nothing piled up...


2. The staff should make a point of showing/saying how much time they put into keeping things straight, clean, sterilized, etc.


3. Patients should see safety info presented in various ways, posters, OSHA compliance notices, handouts, emails, on website, etc.

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Latest News Story as of this Posting on Dr. Scott Harrington

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Writing,

By this Dental Marketing Connective Communication© Consultant...


Richard The Chwalek
NicheDental.com

• Call 1+888.380.0020 and schedule a consultation with my Co-consultant Oli Gonsalves.

• Dental Communications and Marketing Consultant
• Northern Dental Alliance Member/Co-Founder

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Unique Dental Social Media, for Dentists, and Dentistry Industry.

Good Luck All MDA Dentists, Dental Professionals during their MDDS Golf Day!

THE MDDS 2012 GOLF DAY

Today, August 6, 2012

The Northern Dental Alliance is sponsoring the Minneapolis District Dental Society's summer golfing event at the Olympic Hills Golf Club in Eden Prairie, Minnesota.

We hope to see many familiar faces, including dentists and dental professionals at the event.

NDA Members Attending Event, and Hole Sponsors

• Rick Epple®, NDA member hole rep • Owner, Epple Financial Advisors
• Jenna May, Dentist Client Relations • MN Laboratory, Renstrom Dental Studio, Inc.
• Leanne Mathieu Kramer, OSHA Training • Owner, Statements Plus Compliance Solutions, Inc.
• L. Richard Etshokin, New Building, Remodeling Dental Offices • Heritage Construction Companies, Inc.
• Jen Maschke, Business Banking Officer • U. S. Bank
• Gayle Christensen, Practice Management Consultant  • Owner, Christensen Dental Consulting
• Kim Smythe, Dental Employment Specialist • Owner, Dental Staffing Services
• Charlie Steingas, Design & Admin Retirement Plans Advisor • Owner, Cash Balance Actuaries, LLC.

Golf & Events Schedule

• Registration and Hole Assignment 11:00am
• Driving Range Opens 11:00am
• Cookout Barbeque Lunch 11:30am
• Shotgun Start 1:00pm
• Social Hour w/Cash Bar 6:00pm
• Dinner Served 7:00pm
• Event Results, Awards and Raffle 7:30pm

Golfing Categories

• Men’s Women’s
• Senior’s (50 - 64 years) 
• Master’s (65+years)
• Business/Lab

Special Events

• Longest Drives
• Longest Putts
• Hole-In-One Contest (All Four Par 3’s)
• Putting Contest Between 9’s
• Closest to Hole on all Par 3’s

All MDA Members are welcome!
Please come and join in all the excitement and fun! 
Monday, August 6, 2012

MDDS Golfing Event Location

• Olympic Hills Golf Club
• 10625 Mount Curve
• Road Eden Prairie, MN 55347

Story Posted by,

Dick Chwalek, NDA Member
• Owner, NicheDental.com

Also Posted on NicheDental.com
Also Posted on NorthernDentalAlliance.com

Dental Postcards Marketing WHITE Paper

Dental Marketing WHITE Paper

Expect Greater Success with Express Dental Marketing's Variable Digital Printing Postcards Mailed in a campaign of consistent progress and with Oliver Gonsalves' finesse. www.ExpressDM.com Too many choices: the biggest issue affecting new dentistry patient growth and dental care upgrades.  This consumer tsunami of many choices is also constrained by 'available' income and appreciation for financing those choices.  Dentistry also attaches the weight of three denial, procrastination, and treatment fear. It gets to be a big wave of waiving their right to better oral health, wavering and waving as they pass by... The best dental marketing overcomes the barrier of inaction and non-acceptance, while positioning the choice of “more dentistry” much higher! Sit Back, Relax... Oral Health Personalized direct mail provides a level of uniqueness that successfully engages the dental consumer. Traditional direct mail is like someone driving the down street in your neighborhood with a loudspeaker promoting your dental services. Whereas personalized dental postcards are like someone coming right to your door, knocking on it, and gently speaking your name when you open it. This immediate, relationship building aspect of personalized direct mail puts Express Dental Marketing in a unique position to boost your case acceptance and new patient growth. Express Dental Marketing has various levels of personalized direct mail to start a dental-health-improving conversation with your patients and/or community. By targeting three different dental service niches, Express Dental is able to give almost any practice an instant and uniquely powerful presence in the lives of their patients and community. Dentists who want to attract new families and improve internal communication, but also have an interest in promoting their cosmetic dentistry services have a complete suite of products in our Family Dentistry series. Dental practices that are more interested in attracting adult patients for restorative and cosmetic dentistry, and improving case acceptance with current patients will find exceptional designs and concepts in our Cosmetic Dentistry series. Expect Lake Effect Dentistry Orthodontists will also find exceptional personalized orthodontic marketing products and complete campaigns to become the leader in their community. The Express Dental Marketing orthodontic specialists series highly targets this demographic – from Invisalign® clear braces to comprehensive orthodontic treatment. Express Dental Marketing offers two general personalized direct mail strategies: public and current patient. There are two ways to use the service - one-time, event driven occasions or a consistent, throughout the year campaign. Some dental practices want to turn things around quickly and need a significant infusion of new patients. This includes startup or established practices. They would want to at the very least utilize the New Patient Booster series. NEW PATIENT BOOSTER Cosmetic Dentistry – New Patient Booster Postcards Family Dentistry - New Patient Booster Postcards Orthodontic Specialist – New Patient Booster Postcards However, if you have an established practice with a large patient base that could be more productive from a dental treatment and/or a referral perspective, the Relationship Builders and Referral Reminders are the perfect choice to greatly enhance their internal revenue-generating network. RELATIONSHIP BUILDERS – PERSONALIZED POSTCARDS Orthodontic Specialist – Relationship Builders Cosmetic Dentistry – Relationship Builders Family Dentistry – Relationship Builders REFERRAL REMINDERS – PERSONALIZED CARDS WITH ENVELOPES Cosmetic Dentistry – Referral Reminders Family Dentistry – Referral Reminders Orthodontic Specialists – Referral Reminders As a complement to your external campaign to attract new patients or as a substitute for the New Patient Booster is the New Mover Developers. This targets the latest movers and new residents in your area.  These creative personalized concepts will put your practice out in front of the competition while encouraging families to make proactive decisions about their dental care. Advanced Cosmetic Dentistry NEW MOVER DEVELOPERS Cosmetic Dentistry – New Mover Developers Family Dentistry – New Mover Developers Orthodontic Specialists – New Mover Developers While consistent, throughout the year campaigns (noted above) will have the most dramatic effect on revenue generation, Express Dental Marketing can provide your practice with superior value and response with special event and occasion marketing products. The most unique product offered by Express Dental Marketing is the Open House Invitation, which can be used for many events such as a new building open house, new doctor, or something more specific like an Invisalign one-day event or to promote a new technique or dental technology like Lumineers or CEREC one-day crowns. PERSONALIZED OPEN HOUSE INVITATIONS and SPECIAL EVENT POSTCARDS Orthodontic Specialists – Special Event Postcards Cosmetic Dentistry – Special Event Postcards Family Dentistry – Special Event Postcards Finally, Express Dental Marketing is able to personalize your holiday greeting cards and send out birthday cards to patients throughout the year. These marketing strategies allow dentists to find out about the power of personalized dental direct mail and then build up as they see its powerful results. PERSONALIZED HOLIDAY CARDS Family Dentistry – Holiday Postcards Cosmetic Dentistry – Holiday Postcards  Orthodontic Specialists – Holiday Postcards PERSONALIZED BIRTHDAY CARDS Family Dentistry – Birthday Postcards Orthodontic Specialists – Birthday Postcards Cosmetic Dentistry – Birthday Postcards Start Smile Like You Mean It! Express Dental Marketing will set your dental or orthodontic practice apart. The uniqueness of personalization can overcome procrastination, dental fear, and dental health denial. It will put dental care squarely on the map of the most worthwhile choices the consumer can make (now rather than later or never). You can wait by the sidelines for your next patient or get out there and make the best case for the choices you provide. Contact Oliver "Oli" Gonsalves for more information. 1.888.380.0020 Sincerely, Dick Chwalek – Niche Dental President  – of NicheDental.com and co-creator of the Express Dental Marketing system. Also Posted Here: Unique Power of Dental Marketing Also Posted at NicheDental.com

Dental Magazine Chooses Rick Epple, Wayzata, MN as one of Best Financial Advisors in America

Rick Epple, CFP®

Epple Financial Advisors, LLC. is pleased to announce that Rick Epple, CFP®, has been selected by Dental Practice Report magazine as one of the “2012 Best Financial Advisers for Dentists” list in their April 2012 edition. Mr. Epple is one of only three financial advisors in the State of Minnesota to be included in this year’s rankings and is his second straight year of being named to the list.

Candidates were selected to the list based upon knowledge and experience, geography, and in good standing with no disciplinary action against them through the Securities and Exchange Commission, Certified Financial Planner Board of Standards Inc., and Financial Industry Regulatory Authority.

Mr. Epple has been very involved in helping dentists including as a founder and member of the Northern Dental Alliance (www.NorthernDentalAlliance.com). “Our dental alliance was conceived as a resource for dentists. Each member was looking for a way to attain long-term and overall success for our dentist clients.

Personally, I wanted to both assist dentists in achieving their personal financial goals and have the resources readily available to enhance the business and professional side as well. Linking with dental experts in many areas makes that possible.”

Epple Financial Advisors provides comprehensive, Fee-Only financial planning and ongoing wealth management services for families, small business owners and dentists who are looking to delegate some level of responsibility for managing their financial affairs.

Simply, Epple Financial Advisors help our clients achieve financial independence quicker than they would on their own.

About Rick Epple CFP®
My focus as a Certified Financial Planner is to help business owners reach their personal and financial goals, and this blog will provide objective information on a wide variety of related topics, from goal setting to estate planning.

• Rick's Original Post Here
• VIEW all posts by Rick Epple CFP®

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Story Reposted here by

• Dentist Marketing Coach 
• Dental Communication Consultant
• and developer of Connective Communication©

Dick Chwalek, owner of NicheDental.com
Follow his Tweets @NicheDental

• Dick is also a Northern Dental Alliance Member

Call and have Oli Gonsalves set up a meeting.

1.800.380.0020

(Oil is a Co-Consultant for Niche Dental 

& Owner of ExpressDentalMarketing.com/The Other Office)

Also Posted @NicheDental.com

Also Posted @NorthernDentalAlliance.com

Seven Steps to Financial Freedom for Dentists, Business Owners

As you prepare for tax day, are you thinking, I have been working as a business owner for a number of years and while I make a good income, I have no idea if I am on track for retirement? How do I take control of my future? The following process can be used to start you on your way.

Step 1: Determine where you are at…

Gather all your investment statements, checking account statements, latest tax returns, insurance documents, business documents including profit/loss statements, loan documents, spending history, and current estate documents. From this information, a net worth statement can be generated plus cash flow and income projections.

These documents can be used to look at where you are today and make projections for the future. A Business Owner can use one of the following tools to create these helpful documents: www.mint.com, www.mvelopes.com, Quicken, or Microsoft Money.

Step 2: Set Goal for Financial Independence

The next step for business owner is to determine how much extra savings is needed to achieve their retirement and financial independence goals. There are a number of calculators available on the web that can help identify the target savings number. Just be careful because the assumptions used in the calculators can have a big impact on the results. Another way to look at determining a target number is to use 4% “safe” withdrawal rate in retirement. The 4% rule in my opinion is a pretty good indicator of preparedness for financial independence.

Example: A business owner’s $3 million dollar investment portfolio can create a $120,000 income stream (before taxes) increasing each year with inflation. At this rate, the portfolio should last 30 years or longer without running out of money. Besides the retirement goal, other goals need to be included and can increase the amount that is required. Examples of other goals include paying for college for children or grand children, extensive traveling, charitable intentions, vacation properties, etc.

Step 3: Determine what your “gap” is…

After determining the gap between the expected income in retirement and the projected expenses, a plan to fill in the gaps is necessary. Following are areas to look at and consider.

Step 4: Maximize your savings!

Business owners have a number of vehicles to help build savings!

• Maximize contributions to your defined contribution plan. Up to $50,000 can be contributed for 2012. If you are over age 50, $55,500 is the maximum allowed contribution.
• Explore the possible use of a defined benefit plan. This type of plan allows for higher contributions to make up ground for retirement savings if needed. The downside is that it can be very complicated to setup and administer.
• Contribute to Roth IRA, Spousal IRA, or Non-Deductible IRAs as allowed depending on income.
• Other possibilities – Use Health Savings Accounts (HSA) accounts, 529 college savings accounts, or build a taxable savings account.

Step 5: Review the insurance element…

Conduct a thorough review of your insurance program. In my experience, business owners typically have huge gaps in their personal and/or business insurance programs.

• Meet with insurance agents to have a risk assessment and evaluation of your insurance program.
• Determine needs for life insurance, disability insurance, long term care insurance, business insurances, property & casualty insurance, health insurance, etc.
• Shop around to verify that you are receiving good value for the premium dollars you are spending.
• Implement appropriate and recommended coverage.

Step 6: Do some basic business planning

• Run your business like a business. First, develop a business plan and marketing plan.
• Determine measures to benchmark the practice and monitor progress to the plans. Might be profit, patient satisfaction, employee satisfaction, new patients, expenses, etc.
• Areas to look at:
  • Do you want to focus a niche for your business and then develop it?
  • Do you need help with Marketing?
  • Do you have the systems and procedures in place to manage the practice? Think “E-Myth Revisited” by Michael E Gerber.
  • Does customer retention need to be improved?
  • Review insurance to improve value for the premium dollars spent and to protect the practice.
  • Most employers don’t realize the costs of maintaining their retirement plans. Costs can have a significant impact on account growth. If you don’t know the costs, investigate to determine you have a plan with the features you want and are paying a fair fee(s).
  • Do you have a place where the people you work with enjoy coming to work? A good working team.
  • Are you utilizing outsourcing as a tool to improve profitability?
  • Maximize all deductions available to the business.
  • Consider owning the building your business is in instead of paying rent.
  • Do you have contingency plans in place should you or a key employee becomes disabled or dies?
  • Do you have an exit strategy for your business? Buy/sell agreement or plans to bring in a future buyer of your practice?
  • The bottom line is that you want to maximize the amount you take out of the business while providing the necessary investment back into the business to achieve your goals.

Step 7: Here are other areas of your plan to consider…

• Determine personal cash flow and income needs. Planning cash flow can be very difficult. However, having an accurate picture of expenses now and in retirement can ensure a successful retirement.
• Implementing a pay yourself first philosophy can help jump start retirement savings if needed.
• Manage debt – Review all personal and business debt. This is often an overlooked aspect for business owners.
• Appropriate strategies can help increase net worth in the long run. Having consumer debt in retirement can also make it very difficult.
• Determine if your investment strategies include balancing risk, maximizing return and preserving capital.
• Conduct a tax planning review to verify all available opportunities are being taken advantage of.
• Do you have a plan in place to pay for your children’s college education? Utilize pre-tax dollars to pay for college.
• Review that appropriate estate planning documents are in place.

There really aren’t any short cuts and you will need to invest time in determining where you are at and then implementing a plan to help achieve your goals. If you do so, you can take control.

Proper planning can provide business owners and their families with Peace of Mind.

Sincerely, Rick Epple, CFP®

website: EppleFinancial.com

Rick is also an Northern Dental Alliance Member.

Financial Article Originally Posted Here


Watch his video: YouTube, NDA Website
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Posted by Dick Chwalek
Nichedental.com
and Member Northern Dental Alliance