Scott J Manning, MBA ─ Weekly Report: Life Prosperity and Practice Profit ─ Your Dental Business
Last week, we talked about the three things every single doctor wants. More time freedom, control over their schedule, and autonomy for their lives. This goes beyond just taking more vacations. This is about having a weekly routine that has you excited for your life and practice. It allows for you to have time for all the things that matter… relationships, health, hobbies, charities, and everything else.
The next obvious one is that every doctor wants to make more money… as long as they can do it with the caveat of maintaining the time freedom. Very few doctors would exchange “more money” for “more time” (that is, more time working and less time living). Who would? Because time is actually worth more than money. We can make more money but we can’t make more time.
Your Dental Business…
So, the solution is you must master the business side of dentistry by implementing a deliberate formula for financial success within the parameters of your preferred schedule.
A profitable private practice is the one big lever that enables all the other things to happen.
You can have the best team, you can have the best patient experience, and you can have the best life – all as a result of well-run dental business.
Oh, and then there’s that tiny little idea about funding your future. If you aren’t profitable, you never increase your income beyond your lifestyle which allows you to save, invest, and build wealth.
What this really depends on is getting paid twice… once for doing the dentistry and once for owning the business. Otherwise, you can never break free from the dependency of doing dentistry in order to arrive at the ultimate place of “work by choice” not be need.
That brings me to the one other key point that every doctor agrees on and that’s the desire to love what you do. To really enjoy the patient interaction, the clinical execution, and the life changing outcomes you provide to your patients.
This also means it can’t be a grind (stress, time, volume) and you have to be paid something worthy of your skills and expertise.
You do this by continuing to discover and evolve your clinical skills, but most of all, by having a very strong clinical identity, staying true to your philosophy of care, and building everything you do in your practice to be in alignment with how you want to care for your patients.
More time, more fulfillment, more money… or as I like to refer to it as greater Independence, Impact, and Income. Isn’t this what you signed up for? And the only way to get there is to eliminate the obstacles in your way.
This is precisely what I’ll do for you when I create your very own Customized Lifestyle Practice Blueprint.
We will actually create your perfect formula to realize greater Independence, Impact, and Income. I’ll show you how, right here…
Schedule Your Lifestyle Practice Blueprint Planning Session Now…
Now, let’s address some of the exact strategies behind achieving this new level of freedom.
To get started, we have to work backwards.
First, clinically, it sounds easy and the good news is it actually is easy. You have to build a practice, patient experience, and process where you diagnosis more of what you want to do. You attract and educate patients in a way that serves your clinical philosophy and approach.
The secret is to lead by listening and create an interactive experience that empowers your patients to make smarter decisions for their overall long term health.
And above all else, provide more time for what you love and allow less time for what you don’t. Fill up your schedule with the things that bring you joy (by the way, do that inside and outside of your practice). You will be amazed and just how much happier you will be and excited for life.
The money part is quite a bit more tactical. Let’s start by the obvious: bundle more treatment and raise your fees in order to make your time-value exchange worth what it needs to be worth. Most doctors’ daily goals aren’t inspiring. Heck, they aren’t actual goals. Rather, they are minimums or break-evens. They don’t even add up to the targets they need monthly to “make their life work.”
That exact figure is calculated during my powerful Lifestyle Practice Blueprint Process. The one single number every doctor must know in their life. It’s the linchpin to everything else.
Schedule Your Lifestyle Practice Blueprint Planning Session Now…
If you have bad math in your practice, it’s always going to be an uphill battle that ends in disappointing, inconsistent, and stressful results.
Which leads me to my favorite part. Once you figure out the math, you are now liberated to condense time and accelerate progress for everything you want in your life.
You want to get done early, simply shorten your days. You want to work three instead of four days or three weeks instead of four weeks, you can do it.
Everything becomes a division problem of value.
Most doctors are treating everything equally and then complaining about the way their team schedules. Yet they, themselves, don’t know how to engineer the schedule to make the time value work effectively.
There has to be a methodology to the schedule to maximize value.
It all works in concert… create the dentistry with the right experience, bundle it and get paid (accelerating everything including pre-pay), and then condense the time in the schedule.
Now, the only time it doesn’t all fit nicely together is if some piece is out of alignment. There are three usual culprits, I’m going to cover those next week.
For now, reimagine your goals, compare and contrast to your weekly reality, and decide what future should actually look like?
This is the time to level. Just imagine for a moment, what you would do if you knew you could not fail.
Let’s start here. Clarity of where you are going is much more challenging than clarity of where you’ve been. Get this right, that’s the first step and then, well, everything else really falls into place.
That is, if you have my Custom Lifestyle Practice Blueprint built to suit, personally designed, reverse engineered for your practice and your life.
Join the doctors who have discovered more life than dentistry, more time out than in their practice, and more financial success to fulfill their dreams.
Start your journey right here…
Respectfully,
Scott J Manning, MBA
