Dental Practice Marketing- The New Rich and Dentist Lifestyles
Correct dental practice marketing leads to a better lifestyle, more time to do what you enjoy, and doing more case treatments that you like to do in your practice.
Author Tim Ferris spends a lot of time talking about “the New Rich” in his series of books that weave together technology, time management, work behaviors, and personal interests.
There are more options than ever now on how to leverage time and to work in different ways than in the pre-internet age so that our income supports lifestyles and our income/hour (even more important that simply income) buys enough free time to do the things you really want to do while you are alive and healthy.
As a dentist, your #1 ability to leverage time and value of your time (and that of hygienists and associate dentists) revolves around SALES and the proper dental practice marketing techniques. This is true whether you are inside the insurance system and plan to stay there, or are an associate, or want to become or stay more fee-for-service/completely independent.
Here’s a fundamental truth about the reality of selling. Whether you completely delegate selling to key phone team and others on staff OR whether you lead the sales team, mattereth not. As long as you are dental practice marketing in the first place is important.
What mattereth a lot is your complete understanding that the selling of services (both ethically and in the fulfillment of professional obligation) is the #1 thing currently dividing dentists with enough money to support their goals and dreams and adequate time to pursue them from those that don’t. It’s not marketing and it’s not clinical procedures but selling. Dentists selling as we teach are part of the culture of the New Rich (which by the way is age independent) if they choose to structure their life as such.
The N.R. could be described by the following:
*They value health, time, relationships, and life balance over money. Doesn’t mean they don’t like money but it isn’t the #1 focus. Keeping up with the Joneses is definitely NOT part of that balancing act.
*They have zero plans on retiring (FYI – nor do I). Why shut down or completely sever ties from functioning profitable businesses that generate income? Yes, even dental practices can generate income after you “retire” if your retain ownership and still keep a hand in operations. The trends (fewer qualified buyers) are already in favor of this so why not build systems for that which you have complete control over versus assuming a very big unknown cash out is on the horizon?
*They don’t “work like dogs” and have a hope they’ll make it to a long and healthy period of “golden years.” Why not have 50 years of enjoyment versus putting your life on ice and planning to thaw it out for maybe a 15-20 lucky run at the end if you make it that long?
*They keep and check off “bucket lists” as they go through life. (My next bucket list item is to live in Berlin for 3 months while I write new music). They work some, they play some, and intend on continuing ‘til the end.
*They have a lot of fun, freedom, and free time BECAUSE they’ve engineered life around those things.
*They always look for ways to leverage technology or look for specific tactics that unlock time and money efficiencies. Think service delivery technologies that speed things up, think service mixes that are more profitable per hour via niche dentistry, think out-sourcing of tasks for which one doesn’t need to hire for, think living close enough to walk to the office, think eliminating anything that doesn’t bring joy and that consumes limited time resources, think sharing of dental practice marketing and/or marketing support staff with other practices owned by doctors that ‘get it’ when it comes to these concepts.
FYI – The Dentist’s Unfair Advantage Volume 3 covers this concept of “marketing sharing” in detail. I’m convinced that you can’t get ahead financially without putting a lot of thought into what you do and don’t do and focusing only on the essentials. In fact, you have to think differently from most people and most business owners. You only do what is essential for you and delegate the rest. A very difficult concept for most professional service business owners BUT nevertheless a reality of those who transcend and live the new rich lifestyle.
In case you haven’t surmised it, The McAnally Selling System is a necessity for dentists who want to be part of the new rich or to move close to that “lifestyle” if so desired.
I have a few book recommendations for you.
“The 4-Hour Work Week” by Timothy Ferriss
“Essentialism: The Disciplined Pursuit of Less” by Greg McKeown
“Clarity: Clear Mind, Better Performance, Bigger Results” by Jamie Smart
The Dentist’s Unfair Advantage Volume 2 by Dr. James McAnally
