Nov 8, 2019
Practice Under Water | Mystery Guest “Nathan” Part I
More Money, Less Happiness
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 with our new mystery guest, who we call "Nathan." He contacted us because he is a fan of our show. He found his practice through his wife, who is an orthodontist. A dentist asked her if she knew anyone who is looking to buy a practice, Nathan had been thinking about buying a practice, and dove into the opportunity in 2015. The staff of the dental practice accepted Nathan as the new owner; therefore, he did not have to make significant staff changes in his new business. The former owner referred out endodontics and oral surgery, which Nathan knows how to do, so these two procedures were quickly added to his repertoire of offerings.
Nathan has owned his practice for a touch over four years that has seen steady organic growth; however, he is starting to have burnout set in, and he is looking toward Matt and George for advice on what his next step should be within the realm of mindset and metrics.
Digging in, we find out that Nathan does not have a clear picture of his metrics, creating a sense of "feeling lost" about his dental practice. He came to the show to take away nervous pain points about bringing in another doctor to the practice. Nathan wants to know the tangible numbers he needs to reach to bring another doctor into his practice. He has nearly doubled the income of his practice since his initial purchase in 2014.
George also learns that Nathan wants to practice three days a week and work on the business one day a week with an associate on board. He wants to add specialty offerings to his practice, but still have a personal feel to his office. In addition to adding staff, Nathan feels that he needs a mindset change, even though his revenue has increased every year.
Listen in to find out how Matt jumps into Nathan's mindset stumbling blocks, his quality of life, and how he can balance his lifestyle, workload, and grow his business to his goal numbers.
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