The Owner’s Mantra: Grow or Die!

I might hear you say, “That’s quite a statement, Dr. Dave.” Well, let’s put it subtly. If you’ve been religiously listening to my podcast, you’ve been hearing me say this countless times that it’s become my business mantra: “Practice isn’t limited by its opportunity; It’s limited by its leader.”

Let’s talk about the potential, the possibility that every practice owner can embrace a CEO’s mission held in one word — GROWTH. So let’s get into that whole growth idea and what it means to you as a practice owner at the beginning and end of every quarter because I think you should sit down at the end of every quarter and give yourself an hour — this is CEO time to ensure that you’re enjoying more and more cash flow.

Since we’re about to usher in Q2, we have a heavily-packed episode today in line with our week-four theme, enjoying cash flow. Today’s podcast will discuss the six questions you need to ask yourself every quarter. We’ll look into the five machines that create the macro system in your business. And lastly, we’ll dig deeper into three different angles to distill down your growth. So that’s a lot to chew on as you grow or die in Q2 of 2022. Let’s get started!

Tune in and find solutions to common practice issues at  Prescriptions for Your Practice.

Key Quotes:

  • “Status quo is a dangerous delusion.”
  • “I don’t think a status quo is real. I think you’re either getting better or getting worse as a human, as a business owner, and as a business.”
  • “Your mission is to grow on multiple levels.”
  • “The concept of expansion is the natural desire of all mankind.”
  •  “If you’re trapped in “we are a dental practice,” you are more likely to be commoditized.”
  • “When we’re planning for growth, we have to take into account that there will be obstacles and there will be challenges.”
  • “The identity shift here is that this is not a dental office; this is a training and development company. If you run a training and development company, everyone is always getting better at their jobs.”

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Measure More Than The Money

“Not everything that can be counted counts, and not everything that counts can be counted.” — Albert Einstein

Money is necessary to put up and run a practice — we can’t argue with that. But, it is not the be-all and end-all. The money supports our basic needs, goals, and security, but it cannot create a purpose in and of itself — and that’s what I want to talk about today.

In this episode, I will share with you things that are not necessarily money-centered but can provide a significant impact on your business and even drive profits. These key indicators that aren’t focused on a dollar figure but are profit-magnets will keep you, and your staff performs at their best.

Tune in and find solutions to common practice issues at  Prescriptions for Your Practice.

 

Key Quotes:

  • “If we treat money as a math game, we lose track of what really drives profits.”
  • “If a business is human-centered, you can have all of the profits that you want. But if a business is profit-centered, then you’ll end up invariably taking advantage of people.”
  • “Trust, enthusiasm, and value are all emotional events. And employees’ morale and motivation drive productivity. Your energy and focus and stack of skills drive business growth.”
  • “A bad day for you can turn into a rut, and a rut can turn into a pit.”
  • “You can’t expect your team to be enthusiastic about their job if you’re checked out. The tone is set at the top.”
  • “You should be mindful about what you’re putting into your eyes and your ears.”
  • “The key components of a strong culture are safety, hope, optimism, resiliency, and efficacy.”
  • “What keeps you enthusiastic will keep you productive.”
  • “Referrals are the most viable thing in your business.”
  • “Case acceptance starts at the moment somebody hears about you.”
  • “A strong referral system can double or triple your marketing return on investment.”

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Leadership Over Management with Chuck Blakeman

Leadership Over Management with Chuck BlakemanThe single most important decision I made in my dental practice was the moment I stopped trying to create followers with this broken, top-down management style and started a leadership development program for everyone on my team. Today’s guest, Chuck Blakeman, is a world-renowned expert on this topic. He is a successful entrepreneur, best-selling business author, and TEDx speaker who has built 12 businesses around the world and now uses his experience to advise others.

Listen in as Chuck shares some incredible insights and paradigm shifts that will really get you thinking and moving in the right direction. We discuss the concepts of management and dehumanization, how those two relate, and how different it is from true leadership. If you are working on building your business, leveling up on your leadership skills, and creating an incredibly rewarding program for your team, this episode is for you.

Be inspired and meet more Legendary Leaders

Key Quotes:

  • “Look up ‘rehumanize’ in the dictionary—it’s not a word! You can’t rehumanize—you’re not allowed to do that. You can only dehumanize. Isn’t that fascinating? Something is broken.”
  • “If you manage people, you dehumanize them. That’s very different than leading them, and we have to make that distinction because the leadership gurus and consulting network over the last years have conflated those two words to the point where we don’t know what the difference is.”
  • “Leadership is absolutely essential in every business, and management is the worst thing to happen in business. You have to eliminate people being managed.”
  • “People need to be led; stuff needs to be managed.”
  • “All of the data is on the side of getting rid of managers, having fewer leaders, and figuring out how to divest the decision-making. How do we distribute the decision-making to everybody?”
  • “You don’t even have to change the leader. You just have to change the leader’s mindset from ‘these people are stupid and lazy’ to ‘these people are smart and motivated.’”
  • “Managers tell; leaders ask.”
  • “There are three responsibilities of leadership: guard the values, champion the people, and pilot the results—not the process.”
  • “Leadership is any act that improves the life, situation, or performance of another person. If you’re helping someone cross the street, that’s leadership.”
  • “Good managers aren’t managing—they’re training and then getting the heck out of the way. They’re really leaders, and we should be celebrating that.”
  • “Leaders always train with the intent of not being necessary.”

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The Three Dysfunctions of a Dental Practice (Part 1)

Today I’m kicking off a new 3-part series called “The Three Dysfunctions of a Dental Practice.” These dysfunctions are alive and well in most dental practices, and they’re usually hidden in plain sight. So in this first episode of the series, I’ll be discussing how dentists are constantly looking for external solutions to their internal problems—and what to do about it.

This section is specific to identity, so I’ll explain how the organization takes on the personality of its leader, as well as how we need to be working on our own personal mastery in order to level up our practices. If you struggle with delegation or feel like your team is too busy to take on more, you need to hear this because it is essential not only for your ability to grow but also for your practice’s ability to grow.

Enroll in your free video training here: How The Most Successful Dental Practice Owners Work Less & Make More Every Year

Tune in and get more insights on Prescriptions for Your Practice Episode Podcast

Key Quotes:

  • “If we embrace these internal problems, the possibility is that we acknowledge that we are the bottleneck of the practice, and we can find ways to unlock its true potential and establish a more confident identity.”
  • “If we don’t expand the capabilities and the identity of the leader, we work really hard for limited gain.”
  • “Our energy is a role model for the whole team. We can’t expect our team members to be more passionate about the practice than we are.”
  • “If it brings you energy, you need to double down on it.”
  • “We have a leadership vacuum in our world, and what needs to fill this vacuum is high-integrity, courageous leaders.”
  • “Full expression seems like an act of selfishness, but ultimately, it becomes an act of selflessness.”
  • “We have this inner voice as dentists that says, ‘If it’s going to be done right, it’s gotta be done by us.’ But there’s an art to delegation.”
  • “A barrier to delegation is feeling like the team already has too much work and you don’t want to put more on their plate. That’s a bit of a farce.”

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Growing Pains with Dr. Nate Jeal

Growing Pains with Dr. Nate Jeal - Relentless Dentist Podcast

Dr. Nate Jeal has done a lot of things, making him a great example of how the journey to dentistry doesn’t have to be a straight path. His fascinating story and how he found his way into the field is both inspiring and eye-opening, and I know you’ll get a ton out of hearing him speak today.

Listen in as Nate shares why he gravitated toward dentistry, as well as how he eventually got into the field after coming from a totally different background. You’ll hear about the trials and challenges he faced while growing a business, how he and his wife got through those hardships, and the importance of perseverance as you navigate the path to success.

Be inspired, tune in, and find more Bold Biographies Podcast Episodes

Key Quotes:

  • “The sense of scrappiness and doing whatever it takes to make the thing happen – that’s an important part of business ownership.”
  • “It’s in those challenges that you really get to learn.”
  • “Not all dentists have to be practice owners.”
  • “Despite all the challenges people talk about in dentistry, the opportunity that’s presented by a dental degree is really unparalleled.”
  • “If you have mental agility, you have the upper hand.”
  • “Most of your patients or customers—they can tell when the motivation is anything other than their wellbeing or quality.”
  • “In dentistry, the way to find success is by perfecting your craft, so becoming an excellent communicator, helping people really uncover what their wants are and to articulate the result people want to have—and then getting people that result in a really high-quality manner.”

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