Dr. Michael Abernathy, the Founder of Summit Practice Solutions, famously said, “If you’re not working towards something that’s going to give you freedom, what in the world are you working towards? I’ll tell you: MORE WORK. There’s a better way. You just need the blueprint to build it.”
Let’s take that idea as a starting point.
Dentists are clearly people who enjoy helping others; if not, they’re going to have a short and/or fairly miserable career. So, in one sense, dentistry is its own reward, but unless you’re a saint – possible, of course – you’re going to want more in return for your four long years in dental school, a mountain of student loan debt, and the headaches of running a business while seeing a large number of patients four, five, or even six days a week.
There’s got to be more to dentistry than hard work. What are you looking for? Dr. Abernathy suggests that it should be more freedom, and if you’ve been in practice more than 10 years or so, you likely agree wholeheartedly.
You Have Choices
It doesn’t matter what you want freedom for; given the contribution that you’ve made, and will continue to make, to the welfare of others, you’ve earned it.
If you want the freedom to make more of a contribution to your community, that’s admirable. If you want to travel the world, when that’s feasible again, more power to you. If you want to sell your practice and use the proceeds for another venture, that’s great.
If you want to keep your practice pretty much as it is, but have the time to enjoy life and spend more of it with your loved ones, you’ll probably have to make some changes. The primary change will be to take yourself at least somewhat out of the “revenue generation” business.
Well, There’s Your Problem
The current “volume” model of dental practice keeps you in the hot seat to produce revenue for the practice; if you’re not working, you’re not making much, if any, money.
There are two solutions to this issue; you can attract more, higher-value patients, which will allow you to see fewer patients and make the same money or even more in fewer hours.
The other approach is to make the shift to spending more time working on your practice rather than in the practice. This is known as the CEO Dentist model pioneered by Colin Receveur, the CEO and founder of SmartBox Dental.
CEO Dentists focus on fine-tuning the processes in the practice, and on training up their team members to the highest possible level. The team becomes a primary revenue driver while the CEO dentist works at the chair as much or as little as they like.
SmartBox employs the best minds in dentistry to help you grow your practice. Our Practice Growth System™ is proven to help dentists in every market area across the country achieve predictable year-over-year growth.