As the new year rolls around, it’s typical to review our investment priorities.
This may find you checking the rear view mirror for areas to improve.
You might also find cause to high five yourself.
Regardless of the view, mapping a way forward – and the investment you’ll make – in the ensuing year is a priority for most of us.
Particularly, any dentist wanting to scale and grow their practice.
Investment takes many forms.
Finance, time, equipment, and so on.
As key resource in your practice, there’s a tendency to overlook the most important investment that should be made.
The one in yourself.
Savvy Dentist and the Practice Max program maintain a strong focus on this kind of investment.
Why?
Because no dental business can grow beyond the practice owner.
Investment in yourself doesn’t need to be a big thing. Or something else to add to the ‘to do’ list.
Here’s how this important investment translates into practical how-to’s for any dentist.
Get a Coach or Mentor
Rarely do we tell ourselves what we need to hear.
And that’s why we need a coach or mentor.
Someone who’ll tell us how it is, and not let us off the hook, when we’d much rather pack up and go home.
A coach can be safe sounding board for new ideas, challenge your thinking and provide a different perspective.
They can also be a voice of encouragement when the going gets tough.
Many successful business people have coaches. Some have more than one.
When I think about business and investment and me, I know I wouldn’t be without a coach.
Let Go and Let Someone Else Do It
For those dentists complaining they haven’t enough time, or can’t find anyone to do a job, maybe it’s time to look a little closer.
And then let go.
From my own experience, I can honestly say, we usually do more than we need to.
If tail chasing is your standard operating procedure, time to think again.
Instead hone in on what can be delegated.
Can you cross train team members?
Could you set up key performance indicators to create employee accountability?
Assess whether you really need to be across the detail of your website?
Identify the best allocation of your time – your critical drivers – and focus efforts there.
Applicable for every dentist, but especially for those working solo, investing your efforts in ‘needle movers’ like revenue generating and profitable activities is key.
By delegating appropriately and investing time wisely, you avoid burn out, resentment, and overwhelm.
Take A Break
When building a business, and creating a practice to scale and grow, it seems the last thing we should do is take a break.
Actually, taking a break is a priority investment in you and your business.
I’m not necessarily talking trips to the Bahamas or helicopter rides over the Grand Canyon, although you might do that.
What I’m talking about is investing time for you to take a vacation.
Taking time for you to be home – and really be there; not just physically there and your mind elsewhere.
You might even sit around and watch Netflix for an hour.
Do whatever is necessary to give back to yourself physically, energetically and emotionally.
It will pay dividends many times over.
Have A ‘Not To Do’ List
The ‘to do’ list is something we all wrestle with from time to time.
A neat reframe I picked up recently is the Not To Do list.
Emily Letran – a high performance coach, author and dentist and recent guest on my podcast swears by it.
It’s a list on which you put everything you shouldn’t be doing.
It requires you get very specific about tasks you should or could let go of.
If you sat down and worked out what should be on your Not To Do list, you might be very surprised with what you find.
Whether through habit or conditioning, you may think certain activities are super important.
Maybe they are, but they don’t necessarily need you to do them.
Keep this in mind when you decide which clinical work you’ll take – think productive over non-productive.
You can also apply this approach to your business administration too.
Final Words
As you approach the new year, consider what your most important investment will be this year.
Understanding business may be your priority focus. With it comes clarity and momentum.
However, it’s nothing without the investment you make in yourself.
Take time, as the dust settles on the new year, to invest wisely. In you.