It was 2000, I had a 4 month old baby, I’d owned my practice for about 2 1/2 years and I still wasn’t really taking home much of an income. We were barely making ends meet and I was checking the bank account daily to make sure we had enough to pay our bills. You know the feeling, right? When your practice is just starting out and you haven’t yet really reaped the rewards.
Yet, there I was at the kitchen table, with my wife holding our baby while a salesman for a consulting group casually told me the their year course would only cost me $57,000 broken into 12 simple installments. The question, he said, wasn’t whether or not I could afford it, but rather how I could consider NOT doing it.
I knew in my heart it was the right move, so I signed up, borrowed the money and never looked back. I knew that the investment in myself and my practice was the best one I could make and the lessons I learned that year still pay back a dividend in my day to day practice management.
I know that not everyone believes in themselves the way I did, but it doesn’t change the fact that money invested in you is going to pay the biggest dividend out of all the investments you make. Whether it’s a CE course, a mastermind group or a well-vetted consultant, the practice of orthodontics and its margins allows us to scale very nicely. If you can manage your systems to gain one new case per week, that’s over $250,000/year. If you can bring your overhead down just 5%, that could be another $100,000 in your pocket, year after year.
That’s why I started Orthopreneurs. I wanted to help my fellow orthodontists live more profitable, lower stress lives. I’ve made my share of mistakes in running a practice and probably hired $500,000 in coaches and consultants in my 29 years in practice and want to help others.
There are some amazing consultants out there who can help you with things you may be struggling with. Look into them and hire one. Maybe it’s the new patient process, or the way your team handles phone calls or perhaps managing a growth-check list or accounts receivable management. If you think you have all of your systems down cold, I assure you that they can get better.
Maybe you can use help with some clinical outcomes or some sort of management issue. That’s why I created Orthopreneurs University (click HERE to see our courses). It’s a place where you can get amazing CE, quickly and inexpensively without you or your team having to leave your home and with time to watch them.
No matter the choice, do something to make your practice stronger and your life lower stress. Take a course, hire a consultant, attend Orthopreneurs Summit (click HERE). I promise you that you’ll come away with a better approach to help your life and practice in some way. So, what are you waiting for?
After all, you have little to lose and so much to gain.