The truth is there are very few numbers that matter in business. And the business of dentistry is no different.
Success in dentistry is defined by three metrics. How much of your life do you have to invest into your practice for the results you want. Basically, this is about hours per day, days per week, weeks per year and above all else keeping the practice contained so that when you walk out the door you can enjoy the other aspects of your life you want to.
The next number that matters is how much do you have to show for this investment in time, skill, ability, business, influence over others, etc. This ultimately turns into your income, your profit, your investable resources that you have turned your business and your dentistry into.
The old facts of life that will always stand true, more today than ever before, you can have it all but if you have no time to enjoy it or your relationships and your health suffer then what’s the point.
The same goes for having all the time in the world but no purpose, no resources, no mission that is bigger than you. You would have settled for an uninspiring level of success that prevents you from being your best self and really discovering what you are capable of.
All of this requires both financial prosperity and time autonomy.
There is a sweet spot between these two. A perfect harmony that some say is elusive, but it isn’t. It requires clarity of your vision, grace to make mistakes, permission to evolve, and above all alignment with what you say you want and what you actually achieve.
There is one other major factor and maybe the most important one though it’s not so measurable…
Happiness.
Fulfillment.
Enjoyment.
Loving what you do and doing what you love. Done right, these two create a continuum that gives you the best of both worlds and creates for you the life and business I’ve described above.
Think about all of this now. How would you assess all of this for you currently? Today. Right now. The future ahead. What does it look like? What would make your every-days better? What do you really aspire, dream, desire, want for yourself, your family, your practice?
Are you in alignment today? Are you playing at the level you want? Are you striving for big enough goals and objectives?
Last week, I blew up the status quo thinking, remove the limiting beliefs, destroyed the preconceived ideas that the industry places upon you. Instead, presenting an alternative where the way you choose to get to your goals is your own way and no one else’s. In fact, the more you think the grass is always greener in someone else’s practice and life, the more you will neglect and even come to resent your own. You deserve better from yourself and everything you are doing deserves better from you.
Here’s the great news… Choosing the ‘how’ you achieve the three things I have laid out for you today is vitally important but the keyword in this is choosing. Because you can achieve whatever you want any way you want to do it.
Because the greatest choice is the one you have already made. The choice is the one to be independent, self-reliant, own your practice, become a doctor, be an entrepreneur which all allows you to then choose to be successful, to be happy, to live life on your own terms, and to discover pure joy through prosperity and private practice dentistry. So, congratulations!
Now the question is: What are you going to do with it?
To live your best life and achieve all that you are capable of, you must break free from and overcome these last 4 Myths that have limited your potential from the very moment you entered into Private Practice.
Let’s wrap these up and then I’ll give you a plan to make sure everything goes your way…
Myth #5 — That you CAN’T be successful on your own terms because… insert every imaginable excuse from (where you live, how big your practice is, how many hygienists you have, how many dentists are in your city, too dependent on insurance, not dependent enough on insurance, not enough new patients, not enough hours chairside, and on and on).
These are all designed to make you feel like you need ‘them’ to help you and that you are not capable without the industry holding you up. If you want to succeed, you must follow their rules.
Unfortunately, this is the one that will hold you back more than any of the others.
Absolutely, if you think you can’t do it, then of course you are right. You are standing in your own way of belief and every day you see your patients you pre-judge them, you pull back, you downsize their treatment, you present to them step-by-step dentistry, and you wonder why you never have any big cases.
I will tell you this, you won’t get rich going one tooth at a time because you will run out of time, you will run out of space, and you will run out of energy.
Sure, there are models out there, the models that people try to force you into where the industry drives you into the ground in order to ramp up your volume of patients and burden you with slim profit margins to keep under their control of doing single tooth dentistry—but—for smart dentists this just isn’t acceptable.
Myth #6 — That your patients don’t have any money…
Nearly every Dentist in America says that—and they are all wrong.
Of course, there are patients who do not have any money and guess what they aren’t going to the dentist. People have money and, as I always have to remind my clients, they just aren’t giving it to you.
Money is not the problem, it’s all around us, it’s everywhere. I repeat: money is not the problem. Stop, rewind, reverse and go back to BELIEF because it is the only problem.
My Team and I have proven this wrong for more than 20 years and that’s long enough to have helped our clients from all walks of life and all areas in of the country through countless challenges and economic cycles.
You simply don’t need every patient to being willing and able to pay to maximize your opportunities. Stop looking at what isn’t and focus on attracting what is—and you’ll have a well that never runs out.
Myth #7 — The biggest way you can diminish the value of your life’s work is believing that you are going to someday sell your practice and rely on that to retire by making up for all the years that you didn’t max-out your wealth contributions.
It’s the wrong mindset. Let me tell you why.
First, when you sell your practice for a lot of money, you do realize you are going to have to share that with someone… that person is called the big bad government. So it’s not going to be as big of a check as you anticipate, even if you do actually manage to get very lucky and cash out with a big figure.
Second, there is no way on earth, unless you are not planning to live much longer, that you will sell your practice for enough money to retire on and live at the same level of lifestyle you are doing now. Mainly because when you stop working, guess what, you spend more money and you need more to keep you busy and occupied.
When you have your dental practice to rely on, you expense more things than you will ever admit or realize. When you sell, you lose your alibi, your expense account, and your ATM machine.
Third, selling your practice is like selling a piece of real estate—once it’s gone you never have it anymore.
The idea of selling it, getting a little money then having the associate who bought it pay you over time only works if you stay involved in some way and most likely you just aren’t going to find someone who can pay you what it’s really worth.
The bottom line is this… when you are doing HIGHLY PROFITABLE DENTISTRY, not only can you get a lot more money for your practice because there is more profit to show for it but you accelerate your retirement so much faster because of your contributions to your wealth. Now you have so many more options when it comes to selling your practice and therefore you can negotiate better, you can be in control, and you can maximize your savings BEFORE you sell so you are not at the mercy of your health, the market, the bank, or anyone else.
Selling your practice should be a luxury not a necessity, should be a bonus at the end of a great career not a retirement strategy. This is only possible when you are getting more out of you practice every single month by delivering more dentistry.
Ok, here we go, the big one, myth number 8.
Myth #8 — That this is all extremely difficult to do…
Nope. It’s not. Actually, it’s so much easier than you could ever imagine.
Guess why! Because you can start immediately, you can start right now, just being you.
You don’t need to expand, you don’t need equipment, you don’t need to hire or fire anyone, you don’t need more patients, you don’t need to spend a bunch of money.
All you need is a plan, an orchestrated deliberate custom designed planned to take you from where you are today and guide you to where you want to be.
Your Private Practice Prosperity (no matter how big or small your practice is) will lead you to life you truly deserve and the business success you are capable of creating. I’ve organized it into a formulaic approach to reverse engineering your success in 3 specific steps.
And I’m going to unveil this exact proven method that absolutely any doctor can realize their prosperity, regain their power, and restore the pride of Private Practice.
This is more than a mindset, this is more than a few tactics, this is more than system…
This is a movement—this is a real tangible practice business model that puts you back in control of your life, your dentistry, your practice, your patients, your future!
Will you accept the challenge or continue to compromise? You can break the cycle of being at the mercy of external forces that erode the integrity and foundation of independent dentistry.
You do have to decide for yourself but You do not have to do it alone. We will do it together.
The Private Practice revolution begins March 15th…
