by [email protected] | May 19, 2021 | Prescriptions for your Practice
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Have you been scouring the internet trying to look for the best reward system for your employees? Let me tell you a secret; there’s none! I’ve tried different approaches, many times myself, and they didn’t work.
The bonus system aims to give out incentives (monetary or otherwise) to motivate employees to bring out their best and be productive. However, this kind of approach is counterproductive and not to mention expensive.
If you’re looking for a perfect incentive system for your employees, you should not miss out on these three elements: alignment, belonging, and healthy conflict. A reward system should not curb creativity and risk-taking. Once it’s manipulative and punitive, it will predictively fail 100%.
Tune in and find solutions to common practice issues at Prescriptions for Your Practice
Key Quotes:
- “What’s the best bonus system out there? And the short answer, the bottom line up front, is that there is no such thing.”
- “If you work from that mental frame, work for wages, then you immediately assume that if I give more wages, if I give an incentive or bonus program, then I have a better team and I’ll get more and better work… it just doesn’t work.”
- “Modern research says that bonus systems suck, and it can actually demotivate employees, or worse, motivate them to be egocentric, to work on their own self-interests.”
- “Most people are looking for alignment, belonging, and healthy conflict.”
- “You, as the practice owner, are completely limiting the effectiveness of your team if it’s a top-down approach.”
- “If we don’t first fulfill those common human needs, a bonus system will likely be expensive at best, counterproductive at worst.”
- “I really didn’t have the practice or team that I dreamed of until I really dug into the science of human potential, the science of organizational behavior.”
- “No bonus system can match the internal motivations of your team.”
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by [email protected] | May 12, 2021 | Prescriptions for your Practice
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Stephen Covey was spot on when he said, “The key is not to prioritize what’s on your schedule but to schedule your priorities.”
If you want to make more with less work, you need to leverage the principles of ruthless prioritization, that is, eliminating anything that does not add value toward achieving your goal.
Sometimes, you need to get rid of the good to focus on the great.
In this episode, I talk about the aggressive and scary move I made in 2016 to carve back some personal time from my workdays and still able to grow my practice. I’ll also discuss how to find the hidden potential in life’s harsh realities of unfairness. And as a bonus, I’ll share with you 5 highly recommended books to guide you on how you can make more by working less.
Tune in and find solutions to common practice issues at Prescriptions for Your Practice
Key Quotes:
- “You can make more and work less each and every year by leveraging the principles of ruthless prioritization.”
- “The reality is that the world is incredibly imbalanced and you have to embrace the harsh realities of ‘unfairness’.”
- “Sometimes you need to get rid of the good so you can focus on the great.”
- “Document and focus on the things that really create a lot of focus and power and the things that are disempowering.”
- “If you are going to chisel your big patients based down to one person who would you start with?”
- “If you give all your time and attention trying to fix your bottom performers, you’ll ultimately end up losing some of your best talents.”
- “How can you eliminate, delegate, automate the bottom few [assignments]? How can you find more time and focus in the top few [assignments]?”
- “Who are your multipliers? The ones who naturally align with your core values and mission and get you consistent results.”
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by [email protected] | May 5, 2021 | Prescriptions for your Practice
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How do we secure a productive environment in our practices? One that doesn’t get disrupted by the increasing tension in society and result in a toxic culture that could compromise your livelihood?
Let’s engineer a work environment that brings out the best in you and your team!
In this episode, I talk about the imminent changes in the dental profession that are big long-term wins if we start enhancing our company cultures. I’ll also discuss how to keep your team innovating and encourage your employees to grow their confidence, improve engagement, and experience joy at work.
Tune in and find solutions to common practice issues at Prescriptions for Your Practice
Key Quotes:
- “Our dental practices are a microcosm for society. Unless we create systems for safety and alignment for our teams, that polarization will create a very toxic culture and undermine your livelihood.”
- “In all (economic) climates, it’s important that you, as a practice owner, are building your confidence and that of your team.”
- “Personal issues manifest as work issues all of the time.”
- “If there aren’t systems for frequent and open dialogue, there’s a very good chance there’s some toxic behaviors hidden from you, the doctor. Those are the ones that explode and hurt you, patient care, and others on the team.”
- “Make sure you have some sort of no gossip policy.”
- “Make sure that you have systems for recognition.”
- “If you, the doctor, don’t engineer an environment that brings out the best in you, patient care and your pay will eventually take a hit.”
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by [email protected] | Apr 28, 2021 | Magnificent Marketing
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This week’s guest, Stuart Faught of Praze, is a well-known figure in the dental sphere as his expertise in reputation management has assisted thousands of dental practices to grow exponentially by helping them develop and enhance long-term trust.
Listen in as Stuart offers some tips on leveraging excellent patient treatment and excellent patient experience into quantifiable online reviews to establish yourself as the most trusted dentist in your community. We also talked about how you can lower your marketing costs by building your practice while boosting your reputation.
Tune in and learn more about Magnificent Marketing
Key Quotes:
- “Leveraging these different platforms to establish yourself as the most trusted dentist in your community is key now more than ever.”
- “I think dentists really need to understand that they have an amazing opportunity to literally be perceived and literally be the most trusted dentists in their town.”
- “Know where you’re at and then focus where it matters.”
- “It’s interesting to know that the most profitable practices, they all had one thing in common according to our studies. What is that one thing? They all had 300 or more testimonials.”
- “It’s always been my goal and mission to every practice we work with to help them become the most trusted dentist in their town. And we feel like the realistic path to achieving that is that one simple thing, let us help you get 300 positive reviews on Google.”
- “I quickly learned that really what was getting the patient from an internet search into the actual chair was those doctors who had the most and best reviews.”
- “There’s still a lot of the doctors who don’t realize that as a rule of thumb, the more positive reviews you have on Google, the more likely you are to be rewarded by Google and popping up in a search.”
- “I know that practices really value growing by word of mouth and it’s something that any business owner can take pride in. But I think that a lot of dentists still don’t realize that online reviews are modern-day word of mouth, right? And they’re these digital testimonials that live forever.”
- “They call that review marketing and it’s basically taking your positive reviews and marketing them over and over and over again. So the best way to do it is to leverage them on your website.”
- “I think that definitely, everyone should be on the same page as far as the doctor’s vision for the practice.”
- “If and when you get that negative review, it’s almost a great thing. As long as you’ve got a system in place, that’s gathering a bunch of positive reviews because you know, it makes those positive reviews look even more authentic.”
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by [email protected] | Apr 21, 2021 | Legendary Leadership
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I am re-releasing one of the more popular and the No. 1 most downloaded episode of all my podcasts. It features the incredibly insightful Dr. Thomas Grass as he recounts the story of how he found dentistry and the path that led him to this career. This is one of the most powerful conversations I have ever had on the show, as Tom delves deep into the importance of being present and how to avoid always looking to the future or your next achievement.
We discuss what Tom calls the UFO method and how to use this when approaching unpleasant discussions or delivering difficult news. You’ll learn how to create satisfaction out of inherently unsatisfying experiences. Listen in as we share personal stories about making connections with the people in our lives and touch on the responsibility you have to yourself to do the same.
Tune in and meet more Legendary Leaders
Key Quotes:
- “The minute you turn your patients into problems, tasks, or room numbers, you’ve failed.”
- “Dentistry checks all my boxes; you get to take care of people for a long time, you get to know people, and you get to be hands-on.”
- “Hospice is really good at showing you all the pieces and parts that surround someone’s life.”
- “You don’t know what people are living with, what people regret.”
- “Tell people what you need from them and give people what they want from you.”
- “When you are caring for people, you are giving away your emotional energy to them.”
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