Look Out For These Warning Signs

I meet a lot of dentists who hit a glass ceiling.

Their dental practices stop growing.

Their monthly production plateaus.

And let me tell you this:

When it happens, this is scary.

It’s scary because when your business’s monthly production levels off, three things happen.

Firstly, when your collections start to level off, it means that in reality, your business is going backwards. This is because with inflation, [even at low levels], the cost of living is increasing on a daily basis and over a week, over a month, or over a year, the value of a dollar earned is becoming less and less.

And so in reality, when you plateau, your business is actually going backwards.

And I know, because between the years of 1992 and 1996, my annual collections plateaued.

And I placated myself with excuses that this was OK because I believed that my annual income was fine because my practice was collecting double what the average dental practice was doing at the time.

And to me that made the plateauing OK…

Until I met a dentist whose practice was producing double what mine was, and so I knew then and there that I needed to shift my thinking. Because in business, if it has been done, it can be done.

IF IT HAS BEEN DONE, IT CAN BE DONE.

And it can be done again.

And again.

Secondly, if your business income is plateauing, your profits are most likely decreasing because of increased costs and expenses for your business.

Rental agreements have built-in regular annual increases. Wages and salaries paid always rise with time. And materials and utility costs always rise.

Your profits are being eroded by time.

.Thirdly, you can guarantee this fact:

If your business collections are plateauing, there is opportunity for a competitor in your industry to simply overtake you while you are treading water and marking time.

My good friend Dr. Charles Samaris was told once:

“If you’re not growing, you’re actually dying.”

So why does this happen?

I believe that complacency is the issue.

I believe that at some point in time, as business owners, we stop trying to grow and we impose glass ceilings on ourselves.

And it takes thought, and action to break away from this.

Whether it is a self-limiting belief that creeps into our psychy, or whether it’s a belief that we are not worthy of the rewards from growth, it is really only a belief.

It is not a fact.

And as a belief it can be replaced with a more positive belief.

Abraham Maslow said:

"One can choose to go back toward safety or forward toward growth. Growth must be chosen again and again; fear must be overcome again and again."

The fear of the future needs to be overcome.

Fear is False Evidence Appearing Real.

The fact that your business income is plateauing is a WARNING SIGN that things are perilously dangerous, and that urgent action needs to be taken to accelerate away from complacency.

It can be done.

It is up to you to make those changes, and to make that necessary shift in thinking.

You owe it to yourself to do so. You owe it to your family to do so.

You owe it to your customers and your staff to choose growth.

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LIVE Workshop: Dr David Moffet and Jayne Bandy:

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If you’re sick and tired of drilling all day long, and not having anything close to what you deserve, to show for it… or if you’ve ever wondered, “What can successful dentists POSSIBLY know, that I don’t?”… then register for this LIVE workshop Friday July 30, 2021 in Melbourne, VIC.

Click here for more details.

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Have you read my book , How To Build The Dental Practice of Your Dreams [Without Killing Yourself!] In Less Than Sixty Days.

You can order your copy here: Click Link To Order

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The Ultimate Patient Experience is a simple to build complete Customer Service system in itself that I developed that allowed me to create an extraordinary dental office in an ordinary Sydney suburb. If you’d like to know more, ask me about my free special report.

Email me at [email protected]