If you booked a flight, boarded the plane, sat down in your seat, and peered out the window, what would you expect to see?
NOT two feet of landing strip interrupted by the sheer drop of an enormous cliff! You would expect to see a long, clear runway— plenty of space for the plane to gather speed and momentum, and lift off the ground without encountering obstacles.
Isn’t investing in the space and equipment for your practice the same thing?
Let’s say your practice has three operatories and is currently filling these on a daily basis. You may think to yourself— “Ok, so I need one more operatory!” WRONG! If you only build one more offertory to fix the immediate problem, you’ll encounter space issues again in just a few more months! You want to build for growth! You want to build a runway for your practice to take off from, and not just stick a bandaid on the problem to cover it up each time!
In Jay’s words, “You have to match your income desire with your space and equipment.” What does that mean? The practices with the LOWEST collections and the LOWEST production have small offices that fill up quickly, a shortage in equipment and space.
This is caused by “small thinking”, or the incremental mentality of buying two new rooms at a time instead of expanding on a larger scale. This underinvestment in space and equipment is nearly always caused by a Doctor’s shortsighted Vision— an inability or fear of looking to the future, and a fierce aversion to risk.
One of the main factors that you should be considering when investing in an office space is its EXPANDABILITY. Just like a newlywed couple, buying a tiny house for two could present a problem when babies number one, two and three enter the equation! Instead, the couple should have the insight to buy a slightly larger house, allowing their family to reach full potential without getting cramped for space.
Sometimes, this sort of investment requires a high degree of creative problem solving. Should you be building UP in your current location, renovating your space to maximize efficiency, or moving to a bigger, better location?
Try this assessment: Create a basic projection of revenue per room based on previously tracked stats. How many rooms will meet your long-term vision? How much revenue will each room bring in? Does this increased revenue exceed the investment cost of the new space? 99 times out of 100, the answer will be YES!
Investing in the PHYSICAL SPACE for your practice to grow will always pay for itself in the long-run and allow your practice to reach unmatched potential! To start preparing your practice to truly “take off”, call your program advisor to make a plan for your Space & Equipment today!— 866-956-2520