You get up, go to your practice, work on patients all day, and then go home. The next day is a rinse and repeat of the last...and this goes on for decades. You work tirelessly hoping to retire, maybe someplace warm, with not nearly enough for those years of killing yourself hunched over. The bending, twisting, and repetitive hand motions have left you with aches and pains, but hey, it was worth it so you can enjoy a small piece of retirement. And small it will be if you stay on this path of mediocrity.
It’s time to wake up.
The description above paints the picture of a typical dentist. You work yourself to the bone only to give away your fortune to those who don’t deserve it — insurance, PPOs, over-priced dental suppliers, etc.
If you want to put a stop to this dreary future, then it’s time to look at profit and production differently by putting them above all else. It’s your turn to hop on that train bound for wealth.
All aboard the train to destination wealth.
Becoming the wealthiest dentist in the world certainly comes with its challenges. Like anything, you have to put in a little grunt work — but the rewards will pay you back tenfold. Your ticket to wealth begins with you choosing to live the life of a wealthy dentist. Your commitment to this journey is more powerful than you may think.
Once you’ve chosen to hop on board, you’ll need to get a bit more strategic about the way you generate profit. Your “velocity of production” means that your money will be collected more quickly (think cash-only services), in greater volume, without you working harder. There are a number of ways to get here — become a specialist, offer premium services, or figure out how to simply charge more than anyone else. There is perceived value in higher costs, so don’t shy away from this option.
Not all patients are created equally.
Besides re-inventing yourself with the methods previously mentioned, you’ll want to seriously consider ending the exercise of attracting patients by chance and start the exercise of attracting patients by design. This is what we call “patient upgrade”. It’s a systematic way of steadily replacing low-value cases with high ones year-over-year.
Remember, there are only 24 hours in a day, and for every hour you spend treating a low-value case, you’re shutting out those high-value ones that can get you to your destination faster.
Where do we go from here?
We’ve given you just a handful of options to ponder as you pack for your journey to wealth. While we don’t often push you to another source in our blogs, SmartBox would like to share our newest, FREE, report, “The Wealthiest Dentist in the World,” as a more thorough guide. In it, you’ll learn seven steps to take if you want to live this kind of lifestyle.
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.