Host: Dr. Tanya Sue Maestas
Guest: Dr. Naved Fatmi
Edited By: Candy Velez CRDH
The Entrepreneurial Dentist: Thinking Beyond the Chair
Traditionally seen through the clinical lens, dentistry has transformed significantly with the advent of business-oriented models.
Dr. Naved Fatmi’s journey exemplifies this shift. Starting with the ambitious goal of owning multiple practices, he quickly realized that the number of practices is less important than their profitability and functionality.
Dr. Fatmi insightfully notes,
“Now we look at profitability, margin, we looked at what each chair can do.”
This approach encourages current and aspiring dental practice owners to think critically about scalability and efficiency within one practice, not just expansion.
Quality Over Quantity: A Lesson in Specialization
Dr. Fatmi’s career also highlights the value of specialization over generalization. In his early years, the desire to excel in all aspects of dentistry led to a pivotal realization: focusing on a few essential services could enhance patient care and business outcomes.
Dr. Fatmi advises,
“I’m only going to do these three to five procedures, but I’m really going to kill it.”
This strategy improved his practice’s profitability and ensured high-quality patient care, fostering trust and satisfaction among his patients.
Finding Your Niche: Authenticity in Practice
Choosing a niche isn’t just about identifying which procedures are most profitable; it’s about aligning your professional activities with your personal interests and skills.
Dr. Fatmi stresses the importance of authenticity, stating,
“Being authentic and honest to myself… this is what I enjoy doing, and I’m going into work because I want to do something, not because I have to do something.”
For dental professionals at any stage in their career, reflecting on what truly motivates and excites them can lead to more fulfilling and successful practice.
Strategic Learning: Investing in Relevant Skills
Dr. Fatmi’s experiences with continuing education serve as a valuable lesson in strategic investment. Early in his career, he pursued training in Botox and Juvéderm, only to realize that the demographics of his practice’s location did not support this service.
He reflects,
“I put all this money into learning something that I really want to do. But I wasn’t set up in the right area, the right demographics, the right time in my career to do that.”
This underscores the importance of understanding the community and market needs before investing in advanced training or new technologies.
Mentorship and Team Building: Cultivating Future Leaders
Beyond his own development, Dr. Fatmi is committed to mentoring new dentists in his practice. He encourages them to explore all aspects of dentistry to find their passions and strengths.
His leadership style focuses on investment in his team, which contributes to the overall practice’s success. This reciprocal growth is fundamental to creating a thriving practice culture that benefits both patients and practitioners.
Takeaways for Your Dental Journey
Dr. Naved Fatmi’s insights offer valuable lessons for anyone involved in dentistry, whether you’re a student, a new practitioner, or a seasoned professional considering opening your own practice.
Here are a few steps you can take to apply these insights:
- Evaluate Your Practice’s Efficiency: Consider the profitability and functionality of each aspect of your practice, not just the scale of operations.
- Focus on Specialization: Identify which aspects of dentistry you are passionate about and excel in these areas to enhance patient care and satisfaction.
- Be Strategic About Learning: Invest in continuing education that aligns with your practice’s needs and market demands.
- Invest in People: Build a supportive environment that fosters learning and growth for your team.
- Stay Authentic: Align your professional goals with your personal interests and skills for a more fulfilling career.
By embracing these principles, dental professionals can enhance their practices, better serve their patients, and find more significant personal and professional satisfaction.
Until next time, keep learning, keep exploring, and fuel your dental dreams with knowledge!
