“When I were a lad,” — Dentists drove Rolls Royce or Bentley!
They can still do so but most don’t! — Get me a Mazda or a Toyota it does the same job!
Of course if you’re into making an impression there’s always room for the
Porche, BMW or Mercedes and with the right terms why not?
But there’s a catch
“Dentistry is a physically demanding profession; many practitioners become concerned about longevity by the middle of their careers, with a one-in-four chance of becoming disabled long before retirement!” ( Rob Zillak – regional director with Buckingham Asset Management)
Back when I started, the associate rate was 50% of the gross after lab bills. Now it can get as low as 33% after lab bills at a time when more dentists are qualifying, less are retiring and the pot of patients shrinking!
With wages low to stagnant and less than inflation, how can patients continue to pay our prices?
Our expenses increase, with materials increasing in cost way above inflation. Equipment fails or needs replacing — We know we need more so we up the prices.
It doesn’t all add up — We continue, it’s our business, what are the options?
How about Dentistry – AND…
And — Something else. I know that smart dentists invest, at least they did, real estate, parking lots, storage facilities, that was then. How can you do the same?
Niche your practice AND —
Do dentistry — Because it’s your passion, your interest and it brings in a living.
Then add to it the — AND — Another income stream that supports your purpose.
This then is the “Diamond Principle.” I dive into this much deeper in my new book.
Almost ready for pre order.
The AND? I can tell you what we are doing and it’s growing very nicely.
Drop your details below and we’ll talk.
Does this work for any business? Absolutely, you don’t have to be a dentist to learn the “Diamond Principle” and put it to work in your life.