Have you ever gotten a coupon in the mail and used it at a new dry cleaner, restaurant, chiropractor or optometrist? Did you end up staying and developing a long-term professional, mutually beneficial relationship? If so, great! Or, did you look in next month’s coupon packet for an opportunity to try someone else new to you? In the dental lab industry, as in other businesses and professions, we aren’t always looking for bodies to come in the door and spend a few dollars with us.
Is the Limited Liability Company the Right Entity for Your Business?
Should you operate your business as a corporation? Or is there another, simpler alternative? You've probably noticed that in the past decade there are more and more businesses with their names followed by the letters "LLC" instead of "Inc.". "LLC" stands for Limited Liability Company, is the newest type of legal entity that exists in the United States, and for many entrepreneurs it is the ideal marriage between the tax advantages of the limited partnership and the limited liability feature of the corporation.
Everything in the business environment that we function has changed. Employees are remaining at their jobs for far less time than even five years ago, averaging about 3 years. Three years is hardly enough time for an employee to settle in and make meaningful contribution to organizational performance. Management is hard pressed to keep key high performing employees. The organization meanwhile has to shoulder the financial burden of what amounts to a revolving door of recruitment and separation.
In the dental laboratory field, laboratory owners and technicians alike are always looking for ways to increase productivity while maintaining a high standard of quality. Over the years, I have found a technique that may interest my fellow technicians -- flameless tooth setting.
Just prior to Christmas, Ricki Braswell, CAE, co-executive director of NADL, called inviting me to participate in a panel discussion regarding the impact of digital impressions on the dental laboratory industry. The call caused some anxious moments at Brontes Technologies.
The cover of the May 2006 HRMagazine states “PANDEMIC - How to prepare for the unthinkable.” The Avian Flu that is receiving so much attention by The Centers for Disease Control (CDC) and the World Health Organization (WHO) is being referred to as the Kissin’ Cousin to the 1918 Spanish Flu.
If you have ever channel surfed at odd hours or perused the offerings that sneak into our homes via the cable/dish superhighways, it is likely that you have encountered the dreaded “Infomercial.” This 30-minute commercial advertisement, disguised as an educational program, subjects you to the nearly subliminal juxtaposition of pseudoscientific facts, problems and, of course, the preferred solution. The testimonials are indeed powerful witness to the efficacy of the Gazelle, Tempurpedic Mattress, or Phase Four Orthotics.
All business begins and ends with the customer. The company with the most customers wins, which is why successful companies know that the real marketing begins after the initial sale has been made. They know doing everything possible to retain the trust and the business of current customers is the essence of marketing.
When the Small Business Administration says that over 80% of all small businesses fail within 2 years, and over 90% within 5, there are a lot of struggling businesses out there, most of them in fact.
What I’d like to do is change how you look at running your business. Most have been doing the same things over and over, and probably just doing them harder and harder. You just can’t keep doing the same things and expecting different results!!