Eight Things That Are Holding You Back From a More Successful Dental Practice and Life by Dr. David Madow

I'm super thrilled to give a big hug and welcome to my good friend David Madow.

When I decided to open up the Delivering WOW blog for guest posts, David was right up there at the top of my list.

David has not only changed the game for dental practices worldwide, but has also inspired dentists to create a more balanced life….

And on with the post:

Are you ready to take your practice or something else in your life to that higher level? Having problems getting there? We think we know why. There are most likely eight things that are holding you back from getting what you want. In today’s e-letter, we reveal them.  Fix these eight common problems and watch your life totally change. Let us know if you have any questions because believe us, we have been there!  Here we go!

You compare yourself and your practice to others’.  Please do not do this. You really have no idea how successful other docs may be, and even if they are successful, you don’t know how many mistakes they made and how much it cost them in time and money to get to where they are now. When you compare yourself to more successful practices, you put yourself in a dangerous position.  Instead, compare where you are today to where you were a short time ago. This will give you a much more accurate picture of your progress.

You are constantly questioning yourself.  Do not spend your time and energy wondering if what you are doing is going to work, if you are worthy of success, and if this is the right thing to do. Instead, ask yourself how will I make this happen, what is the first step, who can help me with this, and more.  Don’t you think this is a much better way to spend your energy?

You think you need others’ permission. Are you the type that needs approval and permission in order to get started with a new idea? Do you care about pleasing everyone around you? Stop this dangerous habit now! Only YOU know what is best for you. Follow your gut feelings. Follow your heart. Trust your instincts and forget about asking for approval.

You are waiting for the right time. You are likely putting something off RIGHT NOW because you feel it is not the “right time.” There are just a few more things you need to “square away” and then it will be right. Maybe the economy needs to improve a bit. Maybe you are waiting until after the holidays or until you pay off your house.  We’ve all done this.  It is ridiculous. It’s your mind playing games with you. The best time is right now so get started and stop this procrastination.

You expect instant results and when you don’t get them you quit.   It is extremely rare to get instant results with anything. Nothing we have done in over twenty-five years has yielded instant results! And it’s very unlikely you will get them either. If you know you are on the right path, keep up the hard work, stay focused, and never quit. Results will ultimately come to you. Too many people quit just before things are about to take off.

You listen to everyone but YOURSELF.  Sure, everyone has their own opinion on what you should do. But be careful. Please listen to your heart.  If I had listened to all of the “other people” when I was starting The Madow Brothers with Rich, guess what? We would not be doing what we are doing right now. Stop trying to get everyone else’s opinion and just get going. What is the worst thing that can happen? Ask yourself that!

You are not flexible. If you want to be super successful taking things to the next level, you must be flexible in your thinking and your actions. If you are super rigid on doing things only one way, you need to rethink this. Have a plan, but be ready to change as you start to see results coming in. Remember, if you keep doing things the same way and expect the results to keep improving, most likely you are wrong. Be flexible!

You are trying to go alone. Very few people can take their ideas and practice to the next level totally alone. We highly recommend reading, taking courses and masterminding with the best. Please don’t confuse this with “waiting for others’ permission” or “listening to everyone but you.” They are totally different. We have worked and masterminded with tons of people, but when it came down to doing our thing, we didn’t let the naysayers stop us in any way! Learning from others that have already achieved what you want to achieve is worth its weight in gold!

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Want more? Check out more from Dr. David Madow

The Madow Brothers- http://madow.com

The David Madow Lifestyle Show- http://davidmadow.com

How to Achieve Your Goals in Less Time with Vidal Cisneros, Jr.

Vidal Cisneros Jr is podcast host of Thriving Beyond. Vidal has keynoted conferences and has been featured and written for The Huffington Post and The Good Men Project.

As a contributing author of Chicken soup for the soul, Vidal teaches others that to find success and uncover purpose in our lives we must master our personal habits, step out of our comfort zone, and surround ourselves with people who have achieved success.

In this episode we discuss:

  • The importance of having a personal vision for your life
  • The role of goal setting in getting results
  • Which sort of mindset is needed to maximize results
  • How setting deadlines to achieve your goals can fast-track your success
  • Why it's important to get someone to hold you accountable
  • How can you get your team to buy into your practice's vision
  • Which systems can be put in place to make sure that you achieve your goals
  • Which single thing you can do to fast-track your success

Links In the Episode:

Vidal Cisneros Jr. 

Thriving Beyond Book

Thriving Beyond Podcast

Make sure the join the Delivering WOW Hangout, the Free Facebook Group of the Delivering WOW Community.

Are You Being Embezzled with David Harris

 

David Harris is a Private investigator, CPA, and Certified Fraud Examiner. David Harris is the world's leading authority on embezzlement in dental offices. In today's episode, David shares the warning signs that dentists can look out for that might indicate that they have a problem. We also discussed what should dentists do once they feel that they are being embezzled as well as recommendations that dentists can take once the embezzlement is confirmed.

Links in This Episode:

Prosperident

Audible.com: The #1 App that I use to listen to books while in the car or on the go

The Delivering WOW Free Facebook Group

How to Create Real Wealth With Dr. James Dahle

James M. Dahle, an emergency physician,  learned the hard way that growing your wealth begins with having good advice and understanding the wealth creation process. In general, James says that doctors like him save too little, buy too much house, rush into employment contracts rather than seeking an ownership position, get bad financial advice from commissioned salesmen who are usually peddling loaded mutual funds or whole life insurance, pay too much for good advice, and have disorganized investing plans. To help his colleagues, James started The White Coat Investor, a blog that offers doctors and other high-income professionals advice on personal finance and investing.

In today's episode, James and I discuss the first steps that dentists should take to start to grow their wealth.  We discuss the ideal percentage that should be saved and invested to ensure financial freedom, as well as the mindset that someone must have to be financially free. James shares investment strategies as well as strategies that you can use with your kids to start them on a path of investing. This episode is packed with lots of value, and you'll want to make sure that you listen to the very end.

 

Grab Your FREE Copy! “Top 7 Financial Errors Doctors Make (and how to avoid them)!”

 

Links In The Episode:

The White Coat Investor

Audible.com: The #1 App that I use to listen to books while in the car or on the go

The Delivering WOW Free Facebook Group


Starting My Dental Practice

In today's episode, I share a recent interview on the Start Your Dental Practice Podcast, where I was interviewed by Jonathan Van Horn.

 

Here's what we discussed:

When you’re starting your dental practice, there are some key things you need to look at:

  • Finding a good location
  • Knowing what equipment to buy
  • Hiring the right people

But so many dentists tend to overlook a powerful aspect of the business that sets the framework for years of success:

The culture.

When you build a culture that customers (both external and internal) are excited to be a part of, you then have a story to tell.

Having a story allows you to create experiences.

And experiences are what people love to talk (and hear) about. Both online and offline.

Here's The Free Guide Which Accompanies This Episode:

 

Here are a few things you’ll discover in today’s episode:

  • Why giving good service isn’t enough on its own to run a successful business (and what you can do to have an amazing dental practice)
  • The importance of having a vision (for yourself and for your team)
  • How to promote your culture and core values within your practice
  • Tips for creating systems to train new employees more effectively (and have consistency)
  • How cross-training can prove to be valuable (especially when you’re short-handed)
  • Places where you can recruit talent (where you normally wouldn’t think to look)
  • The difference between building your culture and building your brand
  • The best way to build a brand
  • How to get testimonials that make others eager to come see you
  • How to generate 1500% ROI using Facebook for your dental practice
  • What you should promote (before you start promoting offers)

And a lot more.

JOIN our Free Facebook group now to take your practice to the next level!

3 Top Ways to Get Massive Results

Many people say that they want to grow their business. They say that they want more profits.  They say that they want more time off.  The problem is that many business owners say these things without knowing how or without implementing the necessary action steps to get there. 

The key to massive growth, and what all successful large corporations have figured out, is that every area of the business must be systematized.  This means creating “how to” manuals for each position.  This means understanding and implementing testing and measuring systems.  This means knowing your break even point.

Some business owners say that this is too much work.  However, systems allow you to have consistency to deliver a better product or service, and allow your team to acquire the tools to help build your business.

Here are some top systems to implement to fast track your success:

 People and Education

  • Set the Company’s Vision, Mission Statement, and Core Values
  • Complete “How To Manuals” for each position
  • Complete Team Member Positional Contracts
  • Create Weekly Lunch and Learns
  • Implement a Book Club for Development- all of my team members have kindles 

Testing and Measuring

  • Complete and Work from Monthly Budgets
  • Know the Margins for all Products or Services that you provide- Margin takes into account the fixed expenses per hour to run your business and the variable costs, including materials, to supply the product or service.
  • Keep a Record of Your Profit Margins and Compare from Month to Month
  • Track and Measure all Leads
  • Track your Conversion of Leads to Customers
  • Measure Key Performance Indicators for all Areas of the Company
  • Measure your Average Dollar Sale per Customer
  • Test and Measure Every Marketing Campaign to determine the Return on Investment
  • Do an Analyses of your Supply Costs quarterly to ensure that you are getting the best price
  • Negotiate with your Suppliers
  • Know your Fixed Expenses Per Hour
  • Know Your Break Even Point 

Written Checklists and Manuals

  • Create an Operations Manual which includes Pictures
  • Complete a Policies and Procedures Manual
  • Document All Sales and Marketing Systems
  • Create a KPI Chart for the Company that Lists What Everyone must do Daily, Weekly, and Monthly
  • Use Whiteboards to Track Services Completed versus Daily Targets
  • Use Checklists for All Tasks
  • Schedule Regular Equipment Maintenance

Choose just 1-3 systems to work on at a time and set a deadline of when it must be completed and who in your business will be responsible for implementing it.  Before you know it, you will be amazed at how far you have come and what you have accomplished. 

Offer a Guarantee, a Win-Win for you and your Customers

Most business owners are afraid to offer a powerful guarantee to their customers. They are concerned that they won't be able to deliver on what they guarantee, or that everyone will take them up on their offer.  Interestingly, studies have shown that only about 1-2% of your customers will take you up on your guarantee.  Also, there are HUGE benefits.  For example, if you have a good product or service but your customers have never done business with you, a guarantee will give them more peace of mind, or take away risk.  A strong guarantee also makes it less threatening for people to consider your offer. By removing the risk, you increase the likelihood that new customers will give you a try.  The rest is up to you and how you deliver!

Before creating your guarantee, first find out what your customers want.  By testing and measuring, we have discovered that our customers want 3 things:

  1. To be seen on time
  2. Quality and consistency in what we deliver
  3. An amazing experience

Some of our patients are busy professionals or executives.  They don't have a lot of time.  They value and appreciate being seen on time.  Other patients have a lot of time.  Perhaps what they value most is quality and consistency.  They want their dental work to look amazing, to be strong and to be long lasting.  Finally, many patients are extremely fearful of going to the dentist, so the “Wow's” such as the iPads and bluetooth headphones to take away the sound of the dental drill or the complimentary arm and hand massages are what matters most.

Of course you have to have the right systems and team to deliver!