Dr. Devin Harris, the "Plaque Panther", discussed his first year of practice ownership, which he described as a "roller coaster" due to the uncertainty and steep drops followed by rewarding and challenging experiences. Less than a year into operation (opened July 2024), he is currently operating with three chairs and is already pushing into building a fourth, all while collecting over a million dollars in revenue.
Key Decisions and Insights for Startup Success:
- Go All-In and Trust Your Vision: Dr. Harris chose not to associate for a year or two as is commonly advised, feeling that he wouldn't be able to "fully pour into this office" otherwise. His biggest initial decision was to forgo associate work while launching the practice to concentrate entirely on his vision.
- Prioritize Character in Hiring: He looks for people who are committed to the vision, share values of doing things the right way, treating people well, and giving 110% effort.
- Embrace Risk and Make Quick Decisions: Dr. Harris is not afraid to take risks while maintaining certain non-negotiable standards, and he is able to make quick decisions, learning and pivoting from wrong ones.
- Leverage Local Marketing and Personal Connection: The most impactful marketing strategy has been word-of-mouth referrals. He focuses on making the patient experience so special that they feel the need to leave reviews or tell friends, co-workers, and family.
- Be Yourself on Social Media: Dr. Harris converted his personal social media page into his main practice page, intentionally defying advice that warned against sharing his personal life.
- Focus on the Day-to-Day Process: For those wanting to replicate his success, Dr. Harris advises not to "begin with the end in mind". Instead, focus on the "right now". He advocates for staying present, focusing on the immediate task, and aiming to "win the day" and "win each appointment
Hard Lessons:
- Dealing with Insurance Companies: Dr. Harris described dealing with insurance companies as the hardest part, making his stomach drop every month when seeing write-offs and adjustments, and the frustration of receiving overpayment letters.
- Overspending on Equipment and Continuing Education (CE): He admitted to spending too much on certain types of equipment that could have waited, resulting in thousands of dollars of equipment "collecting dust".
- The Importance of a Dental-Specific CPA: Getting a dental-specific CPA firm was "really helpful" because they understand the intricacies of the business and provide documents on how to leverage tax benefits.
