How To Make Better Bets In Dentistry

“In most of our decisions, we are not betting against another person. Rather, we are betting against all the future versions of ourselves that we are not choosing.” — Annie Duke

Do you have decision-making frameworks when you are up against a complex or a simple decision? Do you have questions that you ask yourself to make the decision more effective or accurate?

We have to appreciate that business is a game of probabilities. We are betting on wins and trying to minimize the chance of loss.

Do you want to know why well-intentioned dentists make poor decisions? Doc, if you…

  • want to understand an enemy called Resulting,
  • use the 10-10-10 Method, and
  • know the 3 keys to making good decisions at speed so you can increase your practice’s profitability…

Tune in now!

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

If you enjoyed this episode, please share it with your dentist friends. Check my Instagram (@dr.maloley) and TikTok (@dr.maloley) for your daily dose of thought-provoking content so that you can be a better practice owner. Don’t forget to subscribe to the show on iTunes to get automatic episode updates for The Relentless Dentist! And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the show’s ranking, and I make it a point to read every single one of the reviews we get.

Key Quotes:

  • “Nobody wants to work for indecisive leaders, and they don’t want the pendulum to swing the other way. They don’t want to work for rash leaders.”
  • “Intelligent people tend to have more blind spots.”
  • “If you are seeing it [hiring] as a bet and an investment, you’ll stick with that person, help them train, help them understand what successful work looks like in your organization.” 
  • “In reality, good decisions can have bad outcomes, and bad decisions can have good outcomes. So we can’t really assess it from the position of the outcome.” 
  • “Most decisions need about 70% of the information you wish you had.”
  • “If you’re somebody who is always trying to gather more data to make the absolute best decision, start making bolder moves and quicker decisions and develop a new habit, your team will appreciate it. You will appreciate it.”
  • “A lot of research strongly suggests that luck and opportunity play an underappreciated role in determining our final level of success.”

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The 7 Deadly Sins of Dental Financial Arrangements

Couple things. First, you’re probably already pretty good at financial arrangements, and two, financial arrangements are not going to make your patient experience, but they can break your patient.

We don’t want to scare and confuse our patients. So we want clarity. We want efficiency. We want effectiveness. We want to ensure that the financial arrangements are friendly but firm.

In this episode, I discuss how dental practices mess up financial arrangements. So if you want tighter case acceptance systems, prevent one-star patient reviews, and have seamless financial arrangements, so your life gets easier, tune in now!

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

If you enjoyed this episode, please share it with your dentist friends. Check my Instagram (@dr.maloley) and TikTok (@dr.maloley) for your daily dose of thought-provoking content so that you can be a better practice owner. Don’t forget to subscribe to the show on iTunes to get automatic episode updates for The Relentless Dentist! And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the show’s ranking, and I make it a point to read every single one of the reviews we get.

Key Quotes:

  • “How can we tighten things up? Because as practice owners, there are so many moving parts that it behooves us to just pause.”
  • “You can find one or two things to make sure that your financial arrangements don’t create any ill will after you’ve gone to great lengths to create goodwill.”
  • “What you think is firm financial arrangements may not be firm enough.”
  • “Surprises kill your reputation.”
  • “Case acceptance is not an event. Case acceptance starts when the patient first hears about you.”
  •  “If you push me into buying, first of all, I ain’t gonna buy. And I’m probably gonna find somebody else who’s more in a relationship with me than driving to a sale. And patients read into that.” 
  • “We have to become masters at asking questions and asking for permission before talking money.”
  •  “I don’t want a patient to be more connected to their relationship with their dental benefits than to me as the dentist.”

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Dentists’ Secrets To Preventing Employee Drama & Unhealthy Conflict

So what happens when there’s high conflict in a dental practice? Why is it so important to really understand the nuances of this game?

Given the society that we live in, the level of unrest, the level of frustration, and the stuffed emotions that have happened over the last couple of years, it’s only expected that some of this will leak into your practice and surface as unhealthy conflict. So you should be prepared with a tool kit. And that’s what we’re going to be talking about today. 

Doc, are you leveraging the power of healthy conflict?

If you want to:

  • Enjoy coming to work,
  • Have a unified team, and
  • Avoid playing babysitter or referee …

So you can have a confident culture during uncertain times, tune in now!

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

If you enjoyed this episode, please share it with your dentist friends. Check my Instagram (@dr.maloley) and TikTok (@dr.maloley) for your daily dose of thought-provoking content so that you can be a better practice owner. Don’t forget to subscribe to the show on iTunes to get automatic episode updates for The Relentless Dentist! And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the show’s ranking, and I make it a point to read every single one of the reviews we get.

Key Quotes:

  • “We can express thoughts without feeling like we’re gonna be put down or that we have to put someone else down. And that we’re just having a difference of opinion.”
  • “Sometimes love doesn’t mean that you’re letting people off the hook. Sometimes that love is tough. And that’s what healthy conflict looks like in a very enhanced culture.”
  • “We have to make sure that we’re preventing unhealthy conflicts so that we’re not putting out fires. You, as a dentist, have better things to do.” 
  • “We can’t expect a team to be on the same page if we haven’t given them that page.”
  • “Ironically high conflict tends to create poor and careless decisions.”
  • “Unhealthy culture promotes more culture cancers. And you go from stage one cancer to stage four cancer. And once it’s at stage four, as far as culture cancer goes, it’s really difficult to resolve.”
  • “Every time is what’s best for the patient. What’s best for the patient. What’s best for the patient.”

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7 Tips for Increasing Dental Practice Owners’ Motivation and Mental Toughness

Doc, when you started your practice, did you ever think that you needed to have mental agility and toughness to survive in this industry?

I know you love your practice, so there’s no turning back amidst all the threat and fragility that goes with it. Instead, let’s figure out a way up and around that threat by discussing the real science and tools behind mental toughness. 

Let’s talk about the important topic of Mental Toughness for Dentists.

  • Doc, if you want to see your challenges as opportunities,
  • Stay motivated in uncertain times, and
  • Engineer and environment that keeps you winning…
  • So you can consistently level up your Practice Owner Confidence, tune in now!

And after listening, I hope you feel confident that you’ve got some extra tools and insights to thrust you into this new economy.

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

If you enjoyed this episode, please share it with your dentist friends. Check my Instagram (@dr.maloley) and TikTok (@dr.maloley) for your daily dose of thought-provoking content so that you can be a better practice owner. Don’t forget to subscribe to the show on iTunes to get automatic episode updates for The Relentless Dentist! And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the show’s ranking, and I make it a point to read every single one of the reviews we get.

Key Quotes:

  • “You lead you to upgrade your confidence to lead your team. And you and the team, together, can lead patients to get the care that they need.” 
  • “Resilient leaders have resilient teams and resilient businesses that can win in any economy.”
  • “We have to get to the point where we’re comfortable in our skin when running a dental practice because it’s less exhausting, and you’ll be much more influential to your team and patient.”
  • “Give up to me is emotional, like I can’t handle it anymore. Quit is intellectual. Like it does not make sense for me to pursue this target, to wrestle with this challenge any longer.”
  • “Between stimulus and response, there’s the freedom to choose. And within that freedom to choose, you have imagination. You have self-awareness, you have a conscience, and you have an independent will, but that will not happen if you do not have a steady mind.”
  • “How you view the future matters – matters big time.”

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Why Dental Practice Owners Need A “Why Stack”

“People don’t buy what you do; they buy why you do it and what you do simply proves what you believe.” – Simon Sinek

What’s your purpose as a dental practice owner? Why are you doing what you’re doing? But while you seek out your purpose, why not create a “Why Stack” that you can use to leverage on yourself and keep you going in good times and in bad? I want you to have a thriving practice with plenty of cash flow and high profits. But most importantly, I also want you to enjoy it because that enjoyment part is a requirement.

In this episode, I discuss how to avoid the two BIG cash flow killers.

So if you want to understand how dentists stay motivated in challenging times and finally answer the question “what’s in this for me?” so you can consistently increase your income and net worth, tune in now.

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

If you enjoyed this episode, please share it with your dentist friends. Check my Instagram (@dr.maloley) and TikTok (@dr.maloley) for your daily dose of thought-provoking content so that you can be a better practice owner. Don’t forget to subscribe to the show on iTunes to get automatic episode updates for The Relentless Dentist! And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the show’s ranking, and I make it a point to read every single one of the reviews we get.

Key Quotes:

  • “I think the important underlying conversation to succeeding beyond standard norms over the long term is how do we get enhanced results while reducing stress? Because if we don’t reduce that stress, then bad things happen.”
  • “The problem is that there are all these books, hundreds of books talking about finding your purpose, right? And I feel like purposes are now positioned as this big elusive thing.”
  • “If you’re gonna be good at leading a team and your team is gonna be good at leading patients to do the right thing for their health, then you’re gonna need more than extrinsic motivating factors.”
  • “I think there’s a greed slash ego slash selfishness issue in modern society. But the thing I will say is I do not think that’s a problem with most dentists.”
  • “Generally speaking, we are happier when we’re spending money on experiences and less happy when we’re spending on tangible items. But that’s not exactly true either, right?”
  • “If you’re a solo practitioner, you get to decide and choose a path of being not on demand, but in demand.
  • The more valuable we are, the more income we have.”
  • “A little frustration is actually a good thing because you’re uncomfortable and you’re gonna find a resolution.”

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