If You Are A Dentist, This Could Be An Opportunity Of A Lifetime!
"Do You Want To Own Your Practiceand Be Financially Free?"
Dear Doctor,
As you can see there's a Million Dollar Bill at the top of this web page. Why have I done this? Actually, there are two reasons:
1. I have something very important to tell you, and I needed some way to make sure this would captivate your attention.
2. And secondly, since what I have to tell you can make you a lot more money, I thought using money, even though it's not real, as an "eye-catcher" was especially appropriate.
Here's why I'm sharing.
Years ago, I was a young dentist with school loans to pay and the desire to own my own practice.
This is a story you'll want to read. I have a feeling you may be going through much of what I did many years ago.
When I got out of dental school, I was excited to begin my search for an associate position and launch my career. That is, until I actually began my search. After each interview, I had the same sad thought – as an associate, I would be an employee and nothing more.
YOUR FINANCIAL SECURITY
As just an employee, I would have no financial security or control over my career. I could work for years and years developing relationships with patients, making money for the owner and not have anything to show for it but the wages on my W-2 or 1099.
The most valuable asset a dentist has is their patients. As an associate, I wouldn't own my patients or the assets of the practice I was working in. So, at the end of my career I'd have nothing to sell and could never have the type of retirement I dreamed of.
COST ANALYSIS
CONTROL OF YOUR WORK ENVIRONMENT
As an associate, I would have no influence or control over the environment in which I would spend most of my waking hours. For example, I love music and enjoy listening to it while I work. During my interviews, I found that some offices didn't have music, and of those that did, too many played "elevator music" that was more effective at putting me to sleep than general anesthesia.
I'm into art and design. I yearned to work in an environment that was bright and tastefully designed. Yet, I often found offices so dreary and unprofessional that I would have been uncomfortable treating my family members there. As an associate, my opinion about the décor wouldn't matter one bit.
Dr. Douglas goes on to state in his article...
"the owner will have control over all measures of the practice, including the staff, treatment planning, the laboratory of choice, materials of choice, insurance benefits, retirement plans and contributions and many more. Associate dentists rarely, if ever, have control over any of these key points."
YOUR PHILOSOPHY OF CARE
I found offices that did not allow associates to pick their choice of instruments or materials. Some even mandated doing procedures that went against my philosophy of care. I wanted the freedom to focus on the type of dentistry that I enjoy and refer the procedures that would be best served by a specialist.
To me, it's vitally important to take as much time as needed with patients, and not be pressured to "burn & churn" just to meet production numbers. Many offices were more interested in generating revenue than in quality of care or developing long-term relationships with patients.
Also, there has never been a better time to be a dentist, and one of the biggest reasons is technology. Today's technological advancements are constantly improving patient care, making dentistry more comfortable and less frightening for people, all while making the office more efficient. I saw offices that were not up to date with current technology. Some were just cheap. Others didn't want to change their old ways of doing things.
WHEN YOU WORK, WHO YOU WORK WITH
Having the freedom to pick my days and hours was important to me, as well as picking the continuing education courses that I wanted to pursue. As an employee, I had to hope that would happen.
Many offices wanted me to see a ton of managed care & reduced fee patients, and by doing so, I'd be working really hard and getting burned out, with very little financial reward. No thank you!
I'm a strong believer in the efficiency of 4-handed and even 6-handed dentistry. But we've all seen plenty of offices that barely have an assistant available, requiring the dentist to take x-rays, impressions, break rooms down and set them up. I'm sorry, but that's a horrible waste of a doctor's time and talent.
I found some offices that had a lot of negativity and drama with some of their "key" staff members who dominated and controlled everyone in their perceived little kingdom. As an associate, I had no control over that.
I knew if I owned my own practice, that type of behavior would never be tolerated. My practice would reflect my belief in a unified and cohesive team.
When I could no longer stand the thought of not having control over so much of my professional life, I began asking every practice owner I interviewed with, "Do I have the opportunity to be a partner in the practice, and own a piece of the pie?"
BEING THE BEST DENTIST YOU CAN BE
YOUR OPPORTUNITY OF A LIFETIME
I'm currently seeking to work with an ambitious dentist who is ready to take advantage of ownership in a group practice setting, with no out-of-pocket capital outlay,loan or buy-in required.
To work in a private office you can be proud of to call your own. And to learn from someone who's been through it all, made all of the mistakes and came out on top.
Being an owner in a group practice setting gives you more time freedom, more flexibility and greater financial security, with less risks and burdens of being a solo practitioner/owner. Also, dentists in a group practice enjoy the camaraderie of working with other dentists in a collaborative work-culture rather than a competitive one. They appreciate having colleagues within the practice to consult with, exchange ideas on treatment plans, receive support and guidance, explore solutions and provide mutual mentorship.
Also, the business of dentistry is best served economically by a group practice model for a myriad of reasons, including economies of scale and the ability to negotiate with vendors and suppliers for lowest pricing; more effective marketing; larger advertising budgets; more effective management; most disciplines of dentistry being kept in-house; fully supported HR and the ability to hire the best talent with better salaries and benefit packages being offered.
This is an opportunity most dentists never have; the opportunity to call your own shots, be your own boss and reap the financial rewards and professional fulfillment of ownership, with an enormous safety net under you – my expertise in the business of dentistry and to be an owner of something larger and more lucrative than you could ever create on your own as a solo practitioner.
SO WHY WOULD I DO THIS?
Three reasons:
First of all, I get my greatest joy from building and growing dental practices and it's what I do best. It makes me very happy to see someone I help achieve greater financial success (and all that comes with it) as a result of the help I give them.
Second, I want to help dentists be financially free and eliminate the burden and responsibility of owning a dental office as a solo practitioner, so you have more work-life balance, more financial security and more free time to enjoy doing the things you love to do.
And lastly, dentistry has been very good to me and it's one way I can give back.
A wise man once said... Experience is paying for your own mistakes while Wisdom is learning from others who've paid for their mistakes.
If you're seeking to have work-life integration that includes time for your family, friends, hobbies and pastimes, without the burdens and liabilities of solo ownership, click the button below so we can schedule a confidential phone call together to learn more about this unique partnership opportunity.
I look forward to talking with you soon.
Warmly,
PS. It's more lucrative to own a smaller piece of a VERY BIG PIE (ownership in a group practice), than it is to own 100% of a very small pie (solo practice). Group practices are selling for Multiples of their revenue, while solo practices are only selling for anywhere between 50% to 98% of its revenue.
Wall Street and Private Equity love the business model of Group Dentistry. One of our colleagues created a group practice and sold only half of his business for $1,200,000,000. That's 1.2 BILLION dollars! You and I could never do that on our own as a solo practitioner. There's power in numbers!
PPS. One of my mentors, Tony Robbins, says "the path to success is to take massive action". If not now, when?