Practice by Numbers · B2B · software for dental practices
Answer a real business owner's data questions by hand before building
Workedvalidation
What they did
For years he answered his dentist wife's business questions (treatment acceptance, marketing ROI, hygienist performance) with spreadsheets and SQL queries against her practice database, then built the analytics product in 2015 around those questions.
“I would run stretch sheets and I would run, you know, SQL queries for her in the database in the backend and try to figure out, give her answers.”
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More from this episode
- Practice by Numbers: Grow on dentist referrals, great support and a few trade showsARR ~$2M -> $12.5M from 2021 to 2025
- Practice by Numbers: Stay bootstrapped and grow 35-40% a year instead of buying revenue$12.5M ARR, 22-24% EBITDA, ~$1.5M free cash flow in 2025
- Practice by Numbers: Add analytics on top of the software dentists already use, not replace itBecame the wedge for the later all-in-one platform
- Practice by Numbers: Grow one tool into an all-in-one suite sold as packages~$12-13K per location a year on average; up to ~$18-19K
- Practice by Numbers: Call existing customers to switch their card payments to you for a cut~$190M processed of ~$2B possible; profitable but switching is hard
- Practice by Numbers: Charge a percentage of the practice's revenue instead of per-feature fees