Nov 1, 2019
Practice Under Water | Mystery Guest “Jim” Part II
At the Brink of Practice Extinction
Practice Under Water brings together dentist and dental practices into our interview space, with a twist! For our new Practice Under Water episodes, George and Matt will be diving (pun intended!) to the deep end of the swimming pool with mystery guests. They will ask them driving questions to find out how they are growing their business, mistakes they've made, and how our guests have made their comeback through trial and error. Practice Under Water is designed to enhance the dentist's lives by moving past difficulties to experience joy.
Today, Matt and I are going to plunge into our interview, part II with our returning mystery guest, who we call "Jim." He contacted us out of desperation with his new start-up practice quickly going downhill and bleeding out at the rate of around $10,000 per month, with maxed-out credit cards, no savings, and no working capital! Jim is the textbook example of what NOT to do when you start your start-up: excessively spend on equipment, buildout, and leave yourself with no capital to run your business.
Digging in, we find out that Jim is not well-trained in any dental specialties - even Invisalign. A walk-in customer came in and purchased his membership package, paid cash, and asked for this treatment. George discusses how he can handle patients who are looking for treatments outside of Jim's repertoire.
George also learns that Jim doesn't have a good idea of how to approach patient care or how to consult patients. George encourages Jim to get out of his comfort zone one step at a time. George suggests treatment philosophy confidence for Jim, especially when he has comfortable customers and more clinical time available.
Listen in to find out how Matt jumps into Jim's skills and what he can easily add to his clinical toolbox to boost his monthly income to get him out of his financial storm. Find out how George encourages Jim to let go of his fear and being more focused on what he spends his time and energy on his business.
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