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LMT contributing writer Mark Murphy offers advice for lab owners who need a boost in a difficult economic climate.
Marketing maven Walter Orellana has gone back to basics; in today's changing landscape, he believes face-to-face sales and personal relationships are the real keys to success.
That's proven true at Excel Dental Studios where he was hired last year to help rebrand the laboratory, broaden its target market and grow the business. And grow it he did: the laboratory has gone from 12 to 35 employees in the last year alone.
Orellana's easy-going personality and knack for networking make him right at home exhibiting at trade shows, visiting dental offices and socializing with dentists in a variety...
A few months ago, my son turned me on to two television reality shows that I feel have merit for anyone who runs a small business or aspires to: The Profit, on CNBC, showcasing the multi-talented Marcus Lemonis, serial entrepreneur and CEO of Camping World; and Fox’s Kitchen Nightmares, starring restaurateur, Chef Gordon Ramsay. Unfortunately, Ramsay retired this series at the end of 2014. Fortunately, there are 123 episodes you can watch on YouTube.
Say what you will about reality TV; these shows are like business school by proxy.
Without knowing any particular market, Lemonis attempts to...
Competing on price is not, of course, an unfamiliar reality—production/high volume laboratories have been the perceived competitors of small laboratories for decades. But now, with digital technology available to all size laboratories, the competitive arena enables some laboratories to make a comfortable profit via sheer volume and that is one of the causes of industry-wide price erosion.
As you see from our cover story, The Race to the Bottom is the takeaway mantra of respondents to LMT’s 2014 Fee Survey and it isn’t pretty. Because of price competition—fueled largely by...
Just about every online news story enables readers to add comments at the end of the coverage. It's really wonderful to have this means of voicing our opinions and reactions to things that go on around us. It enhances our desire to belong, feel connected and—most importantly—help one another. This is a new kind of journalism; one that is interactive.
To a degree, responses often mimic the type of news reported, in terms of substance and energy. When a topic is upbeat, intriguing, beguiling, etc., the posts are likely to match in spirit.
For example, comments posted to a recent article...
LMT's February 2013 issue features our 2013 Dentist Survey conducted with Dental Economics. Our dentist-respondents speak out on...
...Why They Switch Labs
• Quality wasn't consistent.
• Cases returned with open margins.
• Crowns had high occlusion and open contacts.
• Inconvenient to work with due to the distance from my practice.
• I have switched from PFM crowns to PFZ or full zirconia crowns. My previous lab was not yet offering this service. Meanwhile, I was noticing that I was taking too much time to adjust my PFM crowns and was becoming increasingly frustrated....
West Michigan Lab Association Raises $1,000 for Dental Clinic
Over 40% of lab owners plan to retire within the next decade. With retirement on the horizon for so many, selling a laboratory is going to become an increasingly competitive situation. In this buyer’s market, operating a well-run, profitable lab, maximizing its value and standing out from your peers is going to be essential if your exit strategy is to sell your laboratory. Here are some key features buyers are looking at when considering a laboratory acquisition:
* Solid client base. Statistically, even if all goes smoothly, a buyer can lose 10 to 20% of your accounts so he’s going...
By trademarking their products, laboratory marketers are creating a demand for a product only they can deliver. LMT offers tips for developing a brand name and maximizing its effectiveness.
On the heels of LMT's September special coverage, The Changing Landscape of Dentistry, about the changing demographics, business models and other factors influencing your client base, the ADA just released an in-depth report, A Profession in Transition: Key Forces Reshaping the Dental Landscape, touching on many of the same topics.
Here are some key findings from the report:
Per capita expenditures are expected to grow over the coming decades, but at a very slow rate. In 2010, per capita dental expenditures were $269. Projected expenditures range from a conservative $277 to an optimistic $325...
If a doctor is hooked by the promise of consistency on your promo piece but the value of the claim isn't backed up until the last page, the "consistency" assertion is reduced to a hollow buzzword.
One of the reasons lab owners prefer to fly solo is that they have no appetite for dealing with the challenges that come with personnel management.
There’s no doubt that more people mean more issues. However, there are also as many, if not more, positives for having employees, key among them is that they play a critical role in a business’s ability to grow and prosper.
Listening to recent news discussions for or against raising the federally mandated minimum wage to $10.10 has me wondering: What do you feel your responsibility is to your employees? What obligations do you feel you have...
Once in jeopardy of closing, Kirkwood Community College in Cedar Rapids, IA, is thriving and has even added an evening program to accommodate its waiting list of students.
Whip Mix has acquired the Jelrus burnout oven product line from Air Techniques, Inc.
A year ago, Whip Mix Corp. promoted its Vice President of Manufacturing, Jim Myers, to President of the company, succeeding Allen Steinbock, the grandson of Whip Mix Founder Edmund Steinbock, Sr. This promotion makes Myers the first non-family member President in the company's history. LMT travelled to Louisville, KY, to talk with Myers about his new position and where the company is headed.
LMT: As President, how has your role changed?
Myers: For 11 years, my priority was our manufacturing processes; now, it's more focused on customer needs and opportunities. I have much more interaction with...
In Chicago, Whip Mix introduced its Vericore milling discs. From highly translucent zirconia for monolithic full contour restorations or substructures, to PMMA burnout materials to wax, Whip Mix offers a wide variety of materials and sizes for multiple applications. All Vericore discs offer a diameter of 98mm and are available with and without collars in a variety of sizes from 10mm to 25mm.
The company also introduced a series of articulation products, including:
Two products for Denar Mark 300 Series articulators. Designed for use with the 3Shape scanner and software system, Denar® Split...
Dental Technology Solutions, Whip Mix’s outsource service, has expanded its offering to include Vericore titanium and zirconia custom abutments. The Vericore Zirconia Hybrid Custom Abutments provide the natural esthetics of zirconia with the precision and durability of a titanium interface. The Vericore Premier Titanium Custom Abutments are polished and engraved with tooth numbers. Each custom abutment comes with a titanium platform and screw; 19 platforms for seven major implant systems are available. The company accepts .stl files with a two-day turnaround time. All milling services are...
Whip Mixâs second annual Survive or Thrive Digital Forum was chock-full of advice and take-home strategies to help attendees make informed decisions about digital technology.
"â¦this crazy world of business is being turned upside down. The work environment we boomers inherited in the late 60s is being discarded by the youngest generation of workers."