Today, I want to shift gears away from people (you, your patients, and your team), to talk about what Dentistry, as a business, boils down to.
Of course helping your patients get healthy. Also, developing excellence in your chosen profession, certainly should be. I would add, learning to win at a high level (not just play at a high level – WIN at a high level both clinically and financially), every day inside your practice.
Really all of these boils down to the mastery of the minutes. Time.
You sell minutes. Not directly or exactly because it should be all about “selling” value – solving problems, providing optimal health, whatever it is that you do – it’s about the life changing impact that no one can really put a price tag on.
But still, at the end of the day, we all (no matter who you are and how much money you make and what you do to make the money), sell our time.
You only have so much time, you can only leverage it to a degree, you can only move (and think) so fast and you only have so many hands of others to help. There are ways to expand capacity, of course, but with diminishing returns.
So the answer, for the best, most committed and successful Entrepreneurial Dentists, is to understand and fully embrace the reality that they – YOU – must become a MASTER over your time.
This doesn’t mean you have to work every minute. In fact, the best Entrepreneurial Dentists work less than others while making more.
There aren’t many Doctors earning over a million dollars a year of net personal income. It might take a couple years but if you do what’s necessary and allow me to create and customize the very best playbook for you and your practice, you can achieve seven figures of income. Obviously, you can’t cut corners or pick and choose only the principles you like on your Entrepreneurial Dentist Journey.
These seven figure earning Doctors are NOT the ones who work the most. They ARE the ones that do the most with their minutes and make their time MORE VALUABLE both inside and outside of the four walls of their buildings.
Entrepreneurial Dentists not only embrace the need for discipline and structure over their time; they love it, want it, ruthlessly enjoy it because it makes all of their NON-DENTAL and NON-PRACTICE time in the rest of their lives SO MUCH MORE valuable and rewarding. They can enjoy it because the business time is so dialed in and mastered.
Here’s the thing… Whether you are striving for your first million or are a two or three million dollar producer already, you can have the exact same schedule of clinical hours. It’s just a matter of how the minutes were leveraged and how valuable you and your skills are to the time you work.
Everything in life does come down to how time – the real fleeting inventory – is utilized.
Every component about the Entrepreneurial Dentist is a component that directly impacts the value of your time. It makes you, your team and your patients worth more to your minutes and therefore your minutes worth more to your practice and finally you become more profitable as a result.
Don’t resist this. Being a master, an engineer of your time directly leads to you being a master and an engineer over how you practice, how you live, how you profit, how you enjoy and basically do anything and everything else.
This is not just chair side clinical minutes, but diagnostic, charts, treatment plans, meetings, trainings, commuting and even the minutes that every other team member has and uses effectively (or not) that determines the value.
The layers of time and the need for mastery goes so far beyond just you and yours – though they are the most important – everyone and everything else has direct impact on them.
I’d take a very hard look at what you really want to earn from your practice and then we can decide what we have to do with your time to get you there.
Remember: NEVER does the answer have to be “YOU NEED MORE OF IT.” Time is the most vital resource we have – how it is invested determines everything else.
You really can WORK LESS AND MAKE MORE. It’s not just a saying – if you understand how the Entrepreneurial Dentist develops and maintains Mastery over their Time.
Next week, I’ll give you deep insight into this very thing and we’ll walk through the most pivotal principles that determine how the Entrepreneurial Dentists makes Business Decisions.
