Archive for dental practice profitibility
COMMITMENT TO COMMUNITY
Posted by: | CommentsWe’ve committed ourselves to helping dentists recognize the signs of trouble, apathy, disheartened resentment and to provide measurements to show improvement and to recognize the “need” for help.
Perhaps we haven’t been able to convince you how important it is to “stay engaged” with our program and to return to get refreshed, re-created, renewed and recommitted to our process that has helped hundreds of thousands of dentists for over 30 years.
WE’D LIKE TO ASK FOR YOUR HAND AGAIN. A RE-ENGAGEMENT AND HOPEFULLY A LIFELONG MARRIAGE TO COMMITMENT IN DENTISTRY
We are recommitted to recommitting you to us and our process, our work, our thoughts and our total and complete interest in always making you the best dentist you can be – and the happiest.
Here’s how we can help you re-engage and stay engaged with your business:
THE CEREMONY AND THE INVITATION (The offer)
If you’ve been a student at The Schuster Center:
• Return for recare, refresher courses or alumni advanced courses.
• Learn the newest trends in Case Presentation and how to ethically sell to patients.
• Learn current investment strategies.
• Re-learn what it takes to put together a superb team.
• Re-focus and re-create your vision.
Use us for clarity and implementation of ideas. We can help you via networking, through our support coaches, and aid you with valuable references and resources. As we have learned, so have we taught.
“When the student is ready, the teacher will appear.”
If you feel like you’re lost or you’ve wandered off the path and can’t get a clear direction, please call us. Our analysts are ready to walk you through a Practice REALITY CHECK and help identify current areas of challenge and opportunity. Also, our coaching department is ready to help you through any daily difficulties and to provide you with a clear understanding of team issues and a vision of your practice future. We can help you change your life!
We have proved to you that if you slow down, you will be more satisfied in your work, provide better care for your patients and team, and make more money!
Also, if you think you’re doing great and just want to boast a bit, we’d love to hear your success story as well. We want only the best for you!
And, with the creation of Performance Coach, a very inexpensive and yet rewarding program that brings teachers, mentors and colleagues within the dental field together 3 times a year, you can and will stay committed to the ideas and philosophies, business practices and principles you set forth years ago. It is also a wonderful program of renewal, re-energizing your professional and personal life. We have seen lifelong friendships and mentorships created in this program. Ask Lin Golbeck, Performance Coach co-ordinator, all about it at 1-800-288-9393. One of the best phone calls you will ever make.
The Schuster Center – “Creating Wealth and Freedom for Dentists”
1-800-288-9393 TOLL FREE or visit our
website: www.SchusterCenter.com
NOTE: Vicki Smith, owner of Citigraphics, llc, has worked with Dr. Michael Schuster and The Schuster Center for 28 years. She creates graphic design projects as well as editing and writing some of the articles for The Perspective newsletter, brochures, flyers, invitations, the blog and other projects that arise. Vicki has worked in the marketing department in-house for the Schuster Center for 11 of those years. She has helped many Schuster dentists with logo designs and other graphic design needs.
A RECIPE FOR BUSINESS SUCCESS
Posted by: | CommentsCOMMITTING TO YOUR BUSINESS IS A RECIPE FOR SUCCESS
You can kiss your business “goodbye”.
Or, say “hello” to it!
Your business is like a lifelong friend who’s become a bit flaky with bad ideas taking shape, conflicts arising and self-indulgence appearing. Your friend also likes to borrow money from you. And he or she never pays it back, and wants you to go out with him or her all the time leaving family and friends alone and personal projects undone. So, you’ve decided to ignore this friend for the time being. Go along just to get along. Maybe he or she will pay you back, get on track and become the old friend you had when you first met.
Ever looked at your business that way? Are you just ignoring it now?
Would you allow any friend to treat you that way and still be friends?
No?
Then probably you shouldn’t allow your business to treat you that way either.
COMMITMENT TO YOUR BUSINESS
If a friend was in trouble, wouldn’t you help? You’d get focused, think of some plan to help, follow through. Get and give your friend advice. There’s nothing you wouldn’t do for your friend to help him or her get back to prosperity and good health.
Put your arm around yourself, and help your friend (your business) in the same way.
RECIPE FOR SUCCESS:
• Re-commit to your business (practice)
• Diagnose any problems
• Seek advice
• Set a plan in motion
• Create new ideas for success
• Follow through with the plan
• Make adjustments if necessary
• Stay engaged and focused
• Don’t forget to plan new goals
• Love the one(s) you’re with (your team)
• Success breeds success
• Get paid back
• Stay committed (A viciously delectable cycle!)
Kiss yourself on the cheek. You’re now back in business! Though you thought you were in business all along, really you’ve just been going through the motions – going to work every day. Doing the same thing every day – with the same results. Tiresome habit.
We are the first business school ever created for dentists who wanted to learn how to ethically practice dentistry with commitment to their patients, team and personal growth and development. It’s nothing new. We have taught this for over 30 years.
Easy to lose your way and your focus. Here’s how to regain it! See next article: Commitment To Community…
Believe in Miracles!
Posted by: | CommentsOkay, I’m writing a book (of several individual stories). Isn’t everyone? It’s a book for children ages 1 to 99. I consider myself 12 even though chronologically you can add 50 years! Seriously, don’t we all think we’re about 18 even though some of us might be much older? I don’t think the “kid” spirit ever leaves us.
Back to my book: One of the stories in it is the story of a “miracle” of two ocean creatures who are very different yet become friends by dreaming like-minded dreams and helping one another. They each had a dream of leaving the ocean to see the rest of the world. The problem: they didn’t think they could breathe the air; but, as anything can happen in a story, they made it – leaving the ocean behind – for a spectacular adventure – because they believed in miracles.
I also recently watched a movie (chick-flick as you guys call it) called “Leaving Normal” with Meg Tilly and Christine Lahti. It is older, released in 1992. Again, about two very different types of people which somehow manage to bond on a long trip across the USA, ending up in Alaska. Sometimes by fate or accident, miracles do happen and people help one another by just being themselves – mistakes and all.
Miracles happen every day around us, in every way if we just look – in the air we breathe, the beauty on this fantastic planet – our ever changing sky, brilliant sun and twinkling stars – the variation and colors of our plants and flowers, animals and insects. Also in the miracle of birth, the way we love one another and react to each other on this home – our planet.
So why do we just seem to hear only the bad news most of the time? That sensationalism and fascination with crime and corruption are the mainstays of today. Why not choose to ignore the bad and only publish the “good” people do for one other? Why does it appear that we have lost our way?
Many say our moral compass has lost its “N”, “S”, “E” and “W” (Normalcy, Sensitivity, Ethics and Wisdom); that the compass needle only points to the letter “G” for Greed. Have our intrinsic values, morals and ethics been stripped away because we keep wanting more, more, and yet more? Are we now moving so fast due to technological advancements that we don’t have time to stop and think about what is really important in life? Missing the miracles happening in our own lives?
Some of us older folks point fingers at the younger ones at the lack of integrity we see. But it wasn’t too long ago that other older folks pointed fingers at us – the baby boomers – who shed the trappings of government and social mores for sex, drugs and rock’n’roll – so we were told. Well somehow, a heck of a lot of us out there made it through that time. So, I think you younger ones will, too.
Problem is you are destined to make the same mistakes we did. First, we gave it all up. Then we worked ourselves silly to try to get it all back and then some. But who are the ones who are remembered in our history? The one’s who “had a dream” like Martin Luther King. The one’s who helped the poor and lived without anything, like Mother Teresa. And yes, Jesus, who preached peace from within, love of one another, it’s better to give than receive, seek and find spirituality, not materiality.
In a society where FREEDOM is among the biggest blessings we have in our beloved country, how do we not get into the trappings of CAPITALISM that plays a huge part in our economic system? The tone has been set since we were all very young: One can have anything if we work hard enough, believe in it hard enough and sacrifice family, friends and peace of mind to work tirelessly behind the grindstone.
This is true of all of us. What does it mean for you, as a dentist – years of schooling, marriage, children, family, friends and now a practice and patients? All seemed quite the “American dream”. Small practice in the beginning, then more chairs, then a move to a new practice, maybe you bought a building – huge, shiny new office, more patients, more employees, bigger is better right?
Large dollars coming in, large dollars going out, a new home, vacation home, fancy cars, children’s education, boat, CE classes, specialized training, big expensive vacations – dollars getting stretched? Those larger dollars beginning to look like monopoly money? Do you feel like the conduit for receiving money and passing it on for bill payments, with nothing much going into your pocket or a savings plan and no quality time for family and loved ones?
Whoops! You’re on the fast track, or, what we like to call, the “fake” track. You’ve made your bed and you thought you were happy in it. Now, some years have gone by. You’ve missed special children’s events; a soccer or softball game, a play, maybe your child’s first baby steps, maybe even a divorce under your belt. And every day you have to go to work to feed that large monster you’ve created – your “American monster dream”. What on earth are you going to do now? You can’t think about retirement let alone plan for it. You’ve got too much debt, too many responsibilities. You’re not happy because you know you can do better dentistry and help you patients but you don’t have the time to apply what you’ve learned. It’s sitting on the shelf along with your life!
And what about your patients? Well, they lose out completely.
Maybe you hired a consultant or two to help you. They came in, assessed your needs, told you what to do, gave you a big fancy binder full of “how-to’s” and then drove off with their check. Where did you start? Oh, you didn’t – same old, same old?
If all of the above sounds pretty “right on” do you want a really true, honest to God answer on how to fix this mess? Are you willing to work as hard to get out of this mess as you were to get yourself into it? Are you ready to be honest with yourself and look at what really is important in your life? Are you willing to have your feet held to the fire by a coaching department who will do just that?
Are you willing to take back your life and this time enjoy it?
The answer: The Schuster Center.
We are a “business school for dentists”, but not only that. We are people who help people – all different kinds of people from all over the United States. We care and we guarantee your success. We have the numbers to prove it and the years behind us – all 32 of them. We’re a place with good people work for the benefit of others. We’re not working out of our car, using other people’s material – we’ve created our own.
How did I, a graphic artist and sometimes writer, get involved with Dr. Michael Schuster? By fate and accident – about 29 years ago he walked into my business office – two unlikely people who would probably never have crossed paths. Yet here we are, creating a better life for dentists each in our very different way and watching this process work for thousands of dentists who believed in miracles.
Yes, I’ve seen many miracles here. Want to be one?
We are told all of the time that we are the best kept secret out there. We don’t mean to be. We’re a small company who just cares about helping dentists. That’s Dr. Michael Schuster’s vision. He has a story and he wants you to hear it if you’re tired of the rat race and want to DOUBLE YOUR NET PROFIT while simplifying your life. Believe in miracles, be a kid – find your joie de vivre – again!
God Bless,
Happy New Life!
Vicki
P.S. Write me if you want more information about Dr. Michael Schuster and The Schuster Center. Or see our website at www.SchusterCenter.com and make up your own mind. Make sure you go to the testimonial section and listen to what others have said about us. We have to “toot” our own horn a lot of times, but it’s sure nice when others decide to do it for us! (vicki@cfpd.com)
Change is Good
Posted by: | CommentsSmall changes will significantly impact your dental practice and life for the better.
–Small changes in Cash Flow Management will give you immediate control of money and peace of mind.
–Small changes in Time & Energy Management will impact your practice within just one month!
–Small changes in your Sales Effectiveness will provide you an immediate increase in Production!
–Small changes in Marketing will take 18-24 months to take effect.
–Small changes in the Right People can make an immediate impact on your practice and life.
–Small changes in the Organization will take 3-6 months to take effect in your practice and life.
–Changes in Purpose will have a profound and long term effect on your Practice and your Life.
CHANGE IS GOOD. Pull yourself up and get at it now.
—-For help with dental practice management, dental case presentation, hygiene as a profit center, business plans for the dental practice, dental continuing education seminars and more, go to www.SchusterCenter.com or call 1-800-288-9393
Getting Rich vs. Creating Wealth
Posted by: | CommentsIn 1986 I met an orthodontist at a workshop I was doing in Colorado. We went for a walk and he told me this story:
“My practice wasn’t going as good as I had hoped and when a friend of mine came to me with a business proposition I got involved thinking that owning an auto repair franchise would be the key to me getting rich. Two years later repair franchise went bankrupt and my partner skipped town and the bank pinned the $570,000 debt on me.”
So there he was, in 1986, $570,000 in debt plus the debt for his practice and home which totally exceeded $1.4 million. Something happened on his way to ‘getting rich’…he almost ended up in the trash dump.
The rest of the story: He became a student of mine and when I say student, I mean it. He was diligent, dedicated and determined to do something different, and that was to ‘create wealth’. And ‘creating wealth’ is totally and completely different than ‘getting rich’.
13 years later, my student and friend had a net invested worth of over $4M and no debt. He took me to a Warren Buffet Conference in Omaha. It was a great experience for me to witness the growth, the personal evolution and development of this fine man.
The impact of becoming a ‘Wealth Creator’ versus just striving to get rich can be dramatic. And to add to this story, the first question that was asked of Warren Buffet after he opened for questions was the following…
Q: “Mr. Buffet, what’s the difference between getting rich and wealth?”
A: “Wealth is a state of mind. People that are trying to get rich never have enough. Most people that are trying to get rich are doing it out of fear. The fear that they will never have enough – and that’s exactly what happens to them. They make if and then they lose it. (read the introduction in The Science of Creating Wealth™) Wealth, true wealth is about abundance.”
Well stated by the wealthiest man in the world.
—Dr. Michael Schuster
As A Dentist, How Can I Utilize PR, Advertising And Marketing In My Practice?
Posted by: | CommentsPart 3 of 3
Internal Printed Pieces, Brochures and Direct Mail Pieces, Internet
Your new logo should go on every internal and external piece that you print: forms, business cards, letterhead, envelopes, labels, postcards, appointment cards, etc. This is now your trademark. It becomes associated with your practice. What does the IBM, Apple or Chevrolet logo look like? What color is it? Name and trademark association. Believe me, it works.
Once you have that great looking logo design that reflects your practice and practice philosophy, it’s time to consider advertising with traditional direct mail pieces and brochures to promote your business. Whatever you decide on, depending on your circumstance, seek professional advice to discern your target audience. It won’t do you any good to print $3,000 worth of brochures for mailing if you don’t know where those brochures are going and what you can expect once they get there. Target your audience! What are your demographics? Who are the people you wish to have respond to your practice? This is a time when you should evaluate and re-evaluate your policies and systems. Are you wanting new business? Or, are you interested in promoting a special cosmetic or hygiene service? Sit down first with your team, map out a plan and consult with a professional marketing person or firm who can help you meet your needs.
There are other forms of advertising that a dentist and team can offer to help establish a practice as well as develop a relationship with existing patients. Some offices give toothbrushes and dental floss to promote goodwill and good dental health. Others send out informational letters, newsletters and brochures to keep patients current on the practice as well as informing patients of new dental procedures, office changes and additions. All can be used at different times or in conjunction with one another to enhance the practice.
The internet appears to be a big part of the future. Register your domain name, have a professional set up a website for you. It is more of an informational service now, but it’s still advertising. Your prospective patient may wish to get a “feel” for your office and what services you provide, how you and team look, where you are located, even just to find your phone number. All important to have that online initially. Later, as you become more savvy with what the internet can provide, you can start looking at marketing opportunities.
And just one more thing. Don’t make your website complicated. Please! Listen to me on this one. Display your phone number ,address and e-mail address on the home page prominently and a link for directions to your office (either through Mapquest or some other service). Place it close to the top of your page where everyone visiting your site can see it in the window when it first opens up without having to scroll down to find it. Have it large enough for older people to read. Don’t have so much fancy flash and other movement going on that people get distracted and can’t remember why they are visiting your site. And don’t bury information. A website should be user-friendly and easy to navigate through in a logical manner. Don’t redirect people to other areas on your site unless it is absolutely clear that is what you’re doing and please don’t re-direct them to someone else’s site for a specialty service. You just lost them if you do. Always, always have them contact you for information.
I’ve just touched on many of the ways in which you can enhance and promote your practice. Let me conclude with this old advertising adage. “A business that never advertises, eventually advertises that ‘Going-out-of-business’ sale.”
My best to all of you.
I hope you’ll look at our upcoming marketing section on our main site: www.SchusterCenter.com. In the future we plan to offer an ONLINE class on dental marketing. Stay tuned!
As A Dentist, How Can I Utilize PR, Advertising and Marketing in My Practice?
Posted by: | CommentsPart 1 of 3
Ever ask the above titled question to yourself? I bet you have. Especially since advertising and marketing have become such a key component for professionals over the past few years.
I have run my own business with 7 employees and a business partner for many years. For health reasons, my business partner retired a few years ago and I am now the sole proprietor. Also, 11 years ago, I accepted a part time position with one of my clients. You guessed it, The Schuster Center. I still maintain my office but at a much slower pace specializing in logo design work and other print related design. Rather than the fast paced, push the work out mode we all get trapped in, I choose now with whom I wish to work. Sound anything like Dr. Schuster’s philosophy?
I hope this gives you a bit of a background into my business experience since 1981.
I’d like to write about what you can do to promote your own business. And I will admit that I do use all of those “advertising” terms like “promote”, “target audience”, “satisfied customer”, “direct mail”, “demographics”, etc.
The Obvious Is Not Always So Obvious
First, and foremost, your practice is a business. It must be run like a business, including hiring a qualified team to represent your business. Remember, the first person who speaks with or meets and greets your patients sets the tone for the entire experience. Grumpy Gwendolyn is not going to impress your patient or give him or her confidence in your practice. Happy Helen or Perky Penelope is probably a better solution to that close encounters of the first kind.
So, just who is your salesperson for your business? Why, it’s you! You are the person in charge of creating an atmosphere that creates the image you want to represent. That image is all about you – in the people (team) you hire, the decor of the dental office, the books and magazines on the tables, brochures and literature that you publish about your practice, the mission statement on the wall. (You do have one hanging there, don’t you?) – all reflect your professionalism and attitude toward your dental practice and business and the patients you serve.
There are some things that money cannot buy. And that’s goodwill and word of mouth advertising. There “ain’t” nothing like a “satisfied” customer spreading the word!
Is it true that a patient can have a “good” dental experience? Of course it is. And guess what that’s called, PUBLIC RELATIONS, MARKETING and ADVERTISING. Yep, it’s all part of that picture. From the very first patient experience – that first phone conversation to the initial office visit; hygienist; dentist; right down to billing procedures – all are part of, and should be considered advertising, public relations and marketing and treated as such.
President Truman had a plaque on his desk in the oval office that said, “The Buck Stops Here.” And, believe me, as a small business owner, I know who’s responsibility it is to pick up the pieces when something doesn’t go right in the workplace. And that’s me (as the owner). It’s my money, my time, and my reputation on the line! And, it’s the same for you. For me, “my word is my bond.” If I say I’m going to do it, I’m going to do it. It has served me well.
So let’s look at the ways that you can improve your vision and “advertise” your business with you at the helm.
- Know that you set the tone of the entire office team and patient experience. Who you are is what you create.
- Know that you are the final answer to any problem within the practice. Make sure you’re not the “problem” but rather the “solution”.
- Hire value-minded people. Those who have the same goals and vision for your practice you have.
- Your practice decor should reflect your vision and forward thinking model. Mission Statement on the wall for all to read.
- The receptionist should be one of the most important people in your patients’ initial experience within your office. That includes over the telephone.
- Recognize your limitations. Hire those people who can compliment or enhance qualities that you might lack or need to improve. In other words, if you are a more laid back type of person, it might be in your interest to hire a person who has a more outgoing personality. And, visa-versa.
(Part 2 of 3 on Internal Marketing coming soon!)
A Business Model for Wealth
Posted by: | CommentsIf you ever Create Wealth, it will be from your Dental Practice, unless you inherit it.
If you aren’t going to inherit enough Wealth to be able to support yourself for 20-25 years of retirement(which is a minimum of $3M for a dentist), then your practice has to become your source of Wealth Creation.
Herein lies the importance of a BUSINESS MODEL.
Most PRACTICE MODELS are production based models. The thinking is that if you produce enough revenues, eventually you will Create Wealth. This MODEL not only fails to Create Wealth, it destroys lives in the process.
Other PRACTICE MODELS focus on the DOCTOR LIFESTYLE and these models also fail to Create Wealth. This model also fails to Create Wealth and the Freedom that Wealth brings.
Anyone could make money in the 1990’s and then the GAME CHANGED.
There is ONLY ONE BUSINESS MODEL that allows for the Creation of Wealth in ANY ECONOMY. Up, down or sideways…and this is the MODEL that The Schuster Center has been promoting and teaching for over 30 years.
This is a HIGH QUALITY–RELATIONSHIP DRIVEN–HIGH PROFIT PRACTICE MODEL.
We are so sure of the predictability of this MODEL that when you learn and apply this MODEL to your practice, WE GUARANTEE you will DOUBLE YOUR NET PROFIT!
Register for The Science of Creating Wealth™ or one of our other CE events at 1-800-288-9393. Or just call us directly and ask how YOU can DOUBLE YOUR NET PROFIT.
Dr. Michael Schuster
1-800-288-9393
Dentists – Achieve Peak Profitability
Posted by: | CommentsAchieve Peak Profit, Reduce Stress and Produce Higher Quality Dentistry:
Yes, You Can Have it All!
Many dentists believe that if they just increase the number of patients seen they will have financial success. Dentists have been told that bigger dental practices will produce more money for them. But this production model assumes that the dentist’s fixed costs are indeed “fixed” and quality time spent with patients will not become a problem.
Fixed costs aren’t really fixed, just constant. Dentists soon realize that they must add staff, increase office space, or keep more materials on hand to handle a larger practice. But when fixed costs increase, the overhead percentage increases and net profit decreases.
Most dentists are not aware that their introduction to marketing and management of their practice was influenced by research of manufacturing. This manufacturing/production model doesn’t apply to dentistry or other service industries.
Those dentists who believed in this model now find themselves spending more time managing the business side of the practice and less time with their patients. As the pressure increases to produce more business, neglected patients go to another dentist who cares about them. Eventually, dentists realize that they can’t produce their way out of the “bigger is better” trap.
What do they do then? Some dentists sell their businesses to a management firm and become a paid employee of “their” practice. Others file bankruptcy or use consultants for a “quick fix.” Most continue to struggle day to day, looking for a way out. Let’s look at a model that does reflect what actually happens in a dental practice.
Costs are very high at the start up of a new practice and decrease as the practice grows. At some point, the dentist will be faced with a decision to hire more staff, increase office space and buy more materials. When this happens, “fixed costs” per unit and the overhead will increase.
Revenue per patient seen is very low at the beginning of a new practice and increases significantly as the practice grows. At some point, however, the dentists will see less return on investment with every additional patient. Efficiency is lost due to the limitation of the dental practice. As the practice grows larger, dentists are forced to spend more time in managing the business of the practice or pay someone to control the practice. There is a point where more patients means more money, but a diminishing profit margin.
What this means to you…since 1978, The Schuster Center has helped thousands of dentists identify and reach their optimal profit zone. In fact, 97% of the dentists who have learned and applied Schuster strategies and methods have achieved or exceeded their practice goals within the first year. If you’d like to learn where your optimal Profit Zone is, contact us to schedule a complimentary assessment. Call 1-800-288-9393.
Dentists – Be smart with money
Posted by: | CommentsYou change the way money behaves in your life by changing the way you think about it. I bet every dentist has read Psycho-Cybernetics by Maltz. At the very least, you have all heard of it. It’s one of the granddaddies of the human potential movement. Chapter two may be the most powerful chapter in any book I have ever read.
Maltz’s work simply says this: We are goal striving mechanisms. The sum total of chapter two is the following statement: “Once we know what the target is, we can reach it, we can accomplish it”. On the other hand, he says, “Where the target or the goal is not known, all the energy is spent trying to find out what the answer is”.
That, to me, is what explains why so many dentists, in spite of making millions and millions of dollars over the course of their careers, end up with little or nothing to show for it. They’ve never had specific goals.
In our practices, we know when we’re having a bad month because we feel it. We can almost sense how much is being collected and whether it is above or below what we need. Maltz is saying to program it. Put it in your mind so you understand how many dollars you need to collect. Know how much your practice needs to be profitable and live within that.
To change the way money behaves in your life, reprogram your thought processes. Abundance means that there is enough for everyone, and that everyone can and should prosper. We’re not competing with one another. There is plenty to go around.
A number of years ago, I heard Peter Dawson say that there is probably a practice within most practices. How much dentistry do you think exists in your own practice right now that has never been completely diagnosed or hasn’t had a complete treatment plan created? We are not competing with each other. We are creating the relationship; we’re creating the diagnosis; we’re forming the communication process; and, we’re helping patients accept the dentistry that’s consistent with their needs, wants and values. But, what happens if we don’t do it? It doesn’t mean that it can’t be created by someone else.
A question that I don’t doubt many of you have asked at one time or another: Why do jobs that seem to contribute the most to people, seem to pay the least? Do you ever ask yourself that question? Why is it in our society that people who seem to be contributing the most, get paid the least? Must I choose between material well-being or serving humanity?
Money is extremely powerful in people’s lives. It’s only when you pause to really think about it deeply and what it means to you, that you can finally stop chasing it. Money is never going to bring you happiness
Many of the most important things that you have in your life right now, like satisfying relationships with your spouse, your children, your staff and your friends, cannot be bought. But, too often, we sacrifice our relationships and health to get more money.
In my experience, being a dentist offers me the potential to have both. Being a dentist has availed me the opportunity to have deep, important relationships with not only my family, but my patients and my fellow dentists. At the same time, I am able to live in the material world and make good money.
Money does demand that you be aware of it at all times, not only in your personal life, but in your practice life as well. Money doesn’t have any intelligence, though, does it? It will do exactly what we order it to do. Money doesn’t have a mind of its own, but we do. When somebody says to me, “Gee Mike, I don’t have very much money”, what do you suppose I’m thinking? I’m thinking they’re not very smart when it comes to money.
My challenge is not to teach you how to make more money. My challenge is to teach you to want what you have and be happy with what you have. When you get happy with what you have, and when you can apply certain principles in your life, then, and only then, will the universe give you more. The only way that you’re going to have more of anything in your life is to be satisfied with what you already have, to control what you have now.
You need to know where you are with money on a day-to-day basis. When a person gets into trouble financially, it’s because he isn’t aware of his financial situation. They don’t know how to work with their accountants. They don’t understand money. They don’t understand what it is costing them to practice. I’m not sure what came first, the lack of attention to money or the lack of money. My experience is that they go hand in hand. So, dentists! Be smart with money.
–For help with dental practice management, dental case presentation, hygiene as a profit center, business plans for the dental practice, dental continuing education seminars and more, go to www.SchusterCenter.com or call 1-800-288-9393



