The 7 Luck Factors for Private Practice Growth

Last week, I delivered to you the most powerful playbook for dentistry that quite literally restores The Pride, Power, and Prosperity of the Private Practice Dentist! Now, imagine what you could do if you combine leveraged strategies with a little bit of luck.

Since this past weekend was St. Patrick’s Day, I thought today would be the perfect time to share what I call the LUCK FACTORS of Private Practice Growth. These 7 pillars of success go hand in hand with the principles I layout in my brand new (highly controversial) book about the State of Private Practice In Dentistry today.

Of course, we all know luck is self-made through appropriate actions, habits, and disciplines. All that said, you can’t out luck your way to success. Rather, you have to focus on building a strong foundation to support a healthy practice. You’ll find that right here.

Specific to growth, leverage, and luck… in my most recent Wealth Group Gatherings we talked about your limitations being only held back by your imagination and the more you can believe possible the more you can bring your vision into reality.

This is why I am confident any one of these luck factors will bring a new breakthrough to working smarter and becoming more profitable. For those willing to venture even further by combing all of them altogether into one integrated business approach to practicing, you will find them to be the catalyst that makes each and every single day worth with more patients getting healthy.

I often meet frustrated doctors who have plateaued in their practice. It doesn’t matter whether they are at half a million, a million or two or three or more, a plateau is inevitable—always.

They come to me because they are looking for their next breakthrough. The feel as if they’ve ran out of some magic they once had. What used to be easy, is now arduous chore.

Usually by trying lots of random tactics hoping something works. Even sometimes messing up what is already effective. They go off the range and lose their focus. In the end, they wind up with a practice that looks like a pot luck stew instead of a pot of gold.

This further drives frustration as the plateau turns into a backslide with down months instead of just staying the even.

Then you have those who are running great, posting big numbers, hitting record highs but they have no rhyme or reason—they are just getting lucky.

And luck that is not deliberately created and strategically controlled is not luck that will be sustainable. It’s accidental and unpredictable.

So, what do you do to breakthrough through plateaus at whatever million-dollar interval you are at? Or, what do you do to keep riding the wave to sustain your profitable growth month after month.

You orchestrate luck—that’s what you do.

It turns out that there are about 7 different luck (or growth) factors. And not because 7 is seen as a good luck number but because there are 7 leverage points inside of your practice. If focused on and controlled, these 7 points will lead to explosive growth. It will be so easy you’ll think it’s the result of some magical four-leaf clover.

1st — Properly Conditioned New Patients with Expectations Pre-Set (and coming full circle back to this one with Referrals and Family Engagement)

2nd — Effective Photographs and Engaged Patient Dialogue to go Big Picture with Patient Goals

3rd — Expanding Diagnosis to Layered Full Mouth Treatment with Optimal Health “Upgrades”

4th — Scheduling Bundled Treatment and at a Minimum Quadrant Dentistry

5th — Collecting Money Up Front, Achieving a Negative Accounts Receivable

6th — Weighted Production Tied to Value Based Scheduling and Hourly Targets

7th — Team Member Ownership and Daily Goals with Structured Accountability

Now, even lucky charms work differently for different people or your own lucky numbers might depend on circumstances.

This is why looking for the cookie-cutter solution or off-the-shelf answer is never a good thing because all of those were applied to doctors in other situations than yours. They could have similarities but they are never exactly the same.

Principles can transfer, approaches can have commonalities, but there are more variables in every practice than there are things that are the same…

— Doctor personality.

— Income objectives.

— Patient demographics.

— Team make up.

— Insurance structure.

— Procedure mix.

— And then you have skills, preferences, future goals, and ambitions.

Every one of these things lead to a different and unique application of The 7 Luck Factors of Practice Growth.

This is also why I only work, guide, mentor, advise, and execute individually with one doctor at a time. So that everything discussed and decided is unique matched to their vision. It has the integrity of who you are, what you believe in, and want to achieve.

A business, a dental practice, a doctor is no different than a patient…the procedure may technically be the same but still very different for every individual patient.

One crown will only ever fit one person. They each have their own color, size, shape, contour. Each tooth sustaining health and bone, aligning with a bite and proper occlusion, and fitting appropriately into a full mouth smile.

Doctors understand this but yet many fail to grasp the same notion as it relates to their business?

Why? Because they want UNEARNED LUCK, they want success without the work, they want victories without doing what’s necessary to make it their own.

Now, I know that’s not you. I know you are one of the few who sees this accurately.

If you are serious about your long term sustained success…

If you believe you are unique and have integrity about your philosophy…

If you have opinions, beliefs, differences from others…

If you want to do dentistry on your terms rather than the terms put upon you…

Then you just might be ready to get lucky for the long-term.

Today, I’m challenging you to make your own luck by expecting more, dreaming bigger, being bolder, and stepping up to the full advantages that Private Practice Dentistry can provide to you. Stop looking for greener grass instead look for the gold laying right under your feet.

When you embrace these 7 factors and really work to ensure they are strong disciplines in your practice, you will find every team member, every operatory, every column, every hour, and most of all every single individual patient will become more valuable.

You’ll have to make the first step—a leap—down the rainbow to your very own pot of gold. You don’t need to change what you do or who you are or who you do it for in order to extraordinarily change your results. You simply need to harness luck by elevating how you execute on your core private practice principles and these 7 growth factors sitting untapped in your practice right now.

If you are ready to do just that, I have great news because…

Something amazing is happening right now in Private Practice Dentistry…bigger than anything I’ve seen in decades…Private Practice Owners are thriving like no other time in history.

They’re doing it by serving patients at a higher level through personal relationships and individualized care. You can too by utilizing a tangible practice business model that puts you back in control of your life, your dentistry, your practice, your patients, and your future!

This is more than just a few outliers making waves, this is more than an industry trend that soon fades, this is more than a groundswell rebellion against the status quo…

This is a movement, this is a revolution. I’ve just released my latest book in order to help more doctors join in…

Pride, Power, and Prosperity of the Private Practice Dentist

How To Save Independent Dentistry In America and Why Your Future Has Never Been Brighter

It reveals exactly what leading edge Dentists across North America are now doing to reinvigorate their practices, excite their teams, serve their patients, make more money, and have more fun.

Inside the pages of this book, you’ll discover:

Why having an independent, private practice is your ONLY certain pathway to prosperity (and how to ensure you navigate that path in the fastest, most efficient way possible!).
(Page 25)

The secret to spending fewer hours in the office, while still taking home more income–all without burnout, stress, chaos, or turnover (it all hinges on private practice ownership).
(Page 46)

Keys to having the ability to support and reward (i.e., PAY) a world-class, worthy team who’ll never want to leave for “greener pastures” because better opportunities simply will never exist!
(Page 116)

Corporate Dentistry’s hidden “Achilles Heel” used to keep Dentists from abandoning DSOs and opening their own practices.
(Page 65)

How to design a private practice based on how you want to define YOUR life, instead of allowing your life to be forced to fit other agendas.
(Page 153)

The absolute best way to transform your private practice into a long-term financial asset that generates wealth for you long after your final day at the office.
(Page 147)

Why owning your own practice is the only way you can make certain your patients receive optimal dental care throughout their lives.
(Page 199)

A proprietary formula for custom-engineering the most profitable business model possible for YOUR specific private practice.
(Page 135)

How to establish a clear, concise, financial cashflow structure and strategy that doesn’t require compromising your long-term financial goals (You CAN have your cake and eat it too.)
(Page 72)

Proven strategies to deliver uncompromising levels of dental care and patient experience at a standard of excellence you can take pride in and stake your reputation upon.
(Page 114)

The fastest ways to overcome the obstacles and self-limiting beliefs holding you back from your greatest potential, prosperity, and peace of mind.
(Page 29)

Keys to transitioning from an insurance-driven, Dentistry-as-Commodity Pricing Model to a Lifestyle Practice Model quickly and easily—without Stress, Turnover, or Chaos…
(Page 210)

The secret to designing a completely Self-Managed Practice…imagine the relief of knowing that things will “JUST GET DONE” without you being forced to intervene.
(Page 211)

It’s Time to Reclaim the Pride, Power, and Prosperity of the Private Practice Dentist