About This Episode:
In this episode, Jayme will do an introduction to demographics for startup practices. Demographics is the study of people and as a dentist, you serve people. If you get demographics right, you’ll enjoy serving your patients, your startup will grow faster and you’ll become more profitable faster. That’s how crucial demographics are and why you must get it right from the beginning.
In this introduction to demographics, Jayme will talk about how demographics in dentistry involve lots of data points. There is so much information to consider. Unfortunately, this whole process is simplified to a ratio of the number of dental practices to the population in a given area. This ratio ignores the millions of other data points, that’s why you shouldn’t pay much attention to it.
In this episode and the next two episodes, I share with you unique opportunities that demographics offer and show you how to look at the millions of data points to make crucial decisions. Tune in to this fascinating conversation and understand what demographics is all about.
Key Points Discussed:
- Why it is crucial to get demographics right in the start-up process (01:01)
- What exactly does demographic mean to a startup dentist (03:50)
- Why you shouldn’t pay much attention to the famous ratio of practices to population (06:38)
- Should you locate your startup in an area that is growing quickly (14:46)
- Demographics involve millions of data points and why you shouldn’t reduce them to one calculation (18:36)
- Capturing the unique opportunities that demographics offer (19:24)
“The demographics process can open up opportunities unlike any other stage”
“If you get demographics, right, your startup can grow much faster”
“The reality is the ratio is a poor attempt to try to simplify the millions of data points in dentistry”
- 18 Vital Questions for Startups Demographics
- The StartUp Crew Facebook Group For Associate Dentists
- Ideal Practices Website