A Minute (Or Two) With Colin Receveur, Episode 119
- While most dentists are trained to chase after the Holy Grail numbers of production, collections, and overhead, there's another number that actually ends up being far more important in the career of a dentist.
- That number is the independence number. That means, how free are you at any one moment in the day to do what you choose to do?
- Some dentists struggle with getting enough patients in the door. Others struggle with keeping their overhead low enough to squeeze out profit.
- Ultimately, the majority of dentists figure out how to do "well enough" to keep the doors open.
- And it's only then that they realize the price they are paying for even that level of success.
- The price is usually paid in independence.
- If you're chained to the chair countless hours per week, you might have money, but you're not going to have the time to enjoy it.
- If you're obsessed with getting the bills paid so much that you can't even get away from the mind chatter, even while you're at home, that's a huge problem too.
- Independence is the ultimate real goal, and that requires money and time.
- On a scale of, say, 1 to 100, where's your independence number? How many days can you still be away and have a functioning practice when you come back? How much of your energy is required to think about the practice, even on your days off?
- Dr. Tom Peterson is one dentist in our community who took his “independence number” from down in the basement to somewhere in the 90s.
- He went from working like crazy to working just two days a week and producing 4.4 million a year.
- We've published his story so you can see how he pulls that off. To get a copy, just visit this URL.
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