Business Partner

[RileyS]

Anyone know how to go about finding a business partner that has actual business skills and 0 tech skills? I'm ready to close shop on a lab that does $600-750,000/year. Only 3 techs (including myself) currently. I'm dragging my toes on hiring a new street monkey to train, and "experienced" techs are not skilled and/or want $150k + cars and every possible benefit. So I need a partner who knows nothing about making teeth to come in and hire and fire and market and do all the **** a smart person does to grow a business to where he/she and I can be observers or sell this life sucking business. Or I'll just close it down to a manageable amount of work for just me and live like a normal 40 hr week human and live paycheck to paycheck.
So anyways, anyone have suggestions on how/where to find such a business person?

 

[rkm rdt]

 

[bigj1972]

Anyone know how to go about finding a business partner that has actual business skills and 0 tech skills? I'm ready to close shop on a lab that does $600-750,000/year. Only 3 techs (including myself) currently. I'm dragging my toes on hiring a new street monkey to train, and "experienced" techs are not skilled and/or want $150k + cars and every possible benefit. So I need a partner who knows nothing about making teeth to come in and hire and fire and market and do all the **** a smart person does to grow a business to where he/she and I can be observers or sell this life sucking business. Or I'll just close it down to a manageable amount of work for just me and live like a normal 40 hr week human and live paycheck to paycheck.
So anyways, anyone have suggestions on how/where to find such a business person?

I've been there. Know exactly how you feel.

I took option #2. Live normal 40hr life, and raised fees so didn't have to live check to check.
Then on weekends learned new trade skills so I could start something else in case clients got cute.
Found out they need an Ace Lab Man more than we need a Low Rent Dentist.

 

[Jason D]

what do you want?

What I mean is, you can get a paycheck from anywhere doing anything. Is the lab simply how you get a paycheck? if so its probably not worth it. Do you intend it to be something you sell? then it has to get a lot bigger. Do you want to turn it into a hobby? then get a day job and make some on the side doing the parts of the work you still enjoy.

what is your motivation for wanting to close? To cut hours? To stop dealing with insane dentists? To stop doing lab work?

I know if I did not get enjoyment I would sell the lab tomorrow.

 

[desertfox384]

the situation you describe is exactly the reason I never hired an employee save a driver (which my wife does now). I really don’t see a reason why you can’t make a good living and still work a pretty normal schedule. I don’t think hiring another employee is going to solve your issue..

there is always a root to the problem, and based on the info you gave it sounds like either you hate being a technician or you need to just make some changes in the way your lab operates. That might mean keeping a handful of your best clients and trimming the monthly expenses in the lab and at home. I’ve seen too many guys open a lab and get bit by the money bug - they all end up the same, divorced and working themselves to death or drinking themselves to death…none of that is worth any amount of money to me.

 

[TheLabGuy]

I've known labs do this, some actually worked out well. Most didn't work well at all because the owner is usually the main tech and all questions get directed to him/her and the manager never gets the reigns per say or drives a wedge with employees because they don't know whom to ask, mommy or daddy. If you're serious about bringing them in, make sure your ground rules are laid out in concrete first so there is no confusion moving forward for all.

 

[TheLabGuy]

what do you want?

What I mean is, you can get a paycheck from anywhere doing anything. Is the lab simply how you get a paycheck? if so its probably not worth it. Do you intend it to be something you sell? then it has to get a lot bigger. Do you want to turn it into a hobby? then get a day job and make some on the side doing the parts of the work you still enjoy.

what is your motivation for wanting to close? To cut hours? To stop dealing with insane dentists? To stop doing lab work?

I know if I did not get enjoyment I would sell the lab tomorrow.

Great to see ya on here, hope all is well and even better to hear you're still enjoying it!!!

 

[rkm rdt]

Great to see ya on here, hope all is well and even better to hear you're still enjoying it!!!

Get off your phone, you’re supposed to be on vacation.

 

[zero_zero]

Get off your phone, you’re supposed to be on vacation.

Yeah, riiiight...

 

[TheLabGuy]

Get off your phone, you’re supposed to be on vacation.

Haha...stop stalking me and stop sounding like my wife...jeez...lol

 

[CatamountRob]

I worked for my uncle for 26 years, at one time his lab was 7 people, a few who were part time, but mostly full time. Things were booming and everyone seemed to get along great. I worked 70 miles away and they’d send me a weeks worth of work on the bus so I didn’t see the day to day stuff, but I’d spend a day there every few weeks. He brought in his fiancé to manage the lab, I don’t exactly know what she did or was supposed to do because I wasn’t there but a year later all that was left was my uncle, his fiancé and I. I left a few years later. The fiancé part probably exacerbated the problem but having someone with no lab experience was a big part of it.
I don’t know that anyone was to blame exactly, but it completely changed the office dynamics and caused a train wreck. I wasn’t there and was untouchable because I was the nephew so I wasn’t directly involved.

 

[Cpeysen]

Anyone know how to go about finding a business partner that has actual business skills and 0 tech skills? I'm ready to close shop on a lab that does $600-750,000/year. Only 3 techs (including myself) currently. I'm dragging my toes on hiring a new street monkey to train, and "experienced" techs are not skilled and/or want $150k + cars and every possible benefit. So I need a partner who knows nothing about making teeth to come in and hire and fire and market and do all the **** a smart person does to grow a business to where he/she and I can be observers or sell this life sucking business. Or I'll just close it down to a manageable amount of work for just me and live like a normal 40 hr week human and live paycheck to paycheck.
So anyways, anyone have suggestions on how/where to find such a business person?

I actually fix and rebuild cerec equipment and other things and I know two very impressive people that do this type of thing you asking about but I have to say there are some issues when it comes to using people like this and them not knowing the market as well as labs, people like me and doctors understand it which causes a slight issue for them being capable of fully using their skills. Anyways I work in labs and doctors offices so I experience both worlds and I am always thinking about how things to be better. I do actually have quite a few business ideas involving labs if you ever wanted to talk.

I was going to be posting a AD on here soon seeing if any labs wanted to start selling or renting my scanners and millers and also if any wanted to start doing remote designing for doctors. There is more to this plan but I've been so busy and need to write up everything more clear. I also need help with my workload and there's many things that lab people could do that I do. Anyways I also really do have a pretty good idea for labs in general that would honestly be a game changer in the lab world and might actually make people start going back to using labs more in terms of cerec productions.

Anyways, hit me up if you ever want to chat. I can also connect you with a woman I know would do pretty much what you're asking for and she works for me also so she knows more than most people like her about our world.

 

[Affinity]

Have you tried a professional recruiter like dentalcareerservices.com?