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063 The $500 Bonus That Builds Leaders · My Dental Playbook

0:00
SPEAKER_00: I've learned all of these lessons the hard way.
0:01
SPEAKER_00: Every bonus structure should always be put in place as a beta.
0:05
SPEAKER_00: It's something we are trying 30 to 90 days.
0:08
SPEAKER_00: We're just testing it out.
0:09
SPEAKER_00: Even if you're like, this is bulletproof, the best bonus system ever.
0:13
SPEAKER_00: I know it's gonna work.
0:14
SPEAKER_00: Doesn't matter.
0:14
SPEAKER_00: Just say, hey, this is a beta.
0:15
SPEAKER_00: We're doing it 13 to 90 days, and then we're gonna reevaluate, and we may change it, we may remove it, or we may add to it.
0:21
SPEAKER_00: We don't know.
0:22
SPEAKER_00: We just want to see how it does and see how the numbers all right.
0:25
SPEAKER_00: We are live for another episode.
0:27
SPEAKER_00: And today we're going to be talking about something really exciting bonuses and how to set them up correctly.
0:34
SPEAKER_00: Dr.
0:34
SPEAKER_00: Blake's gonna be sharing with us some of the things that he's done well, some of the things that he's learned, some things that didn't go so well.
0:40
SPEAKER_00: And this is gonna be really, really helpful.
0:42
SPEAKER_00: And your team's gonna like it better, and it's gonna save you a boatload of money.
0:46
SPEAKER_00: So this is really important.
0:48
SPEAKER_00: At the end of the show, we're gonna talk about how the front desk TC's assistant, hygienist, office manager, how to actually apply this.
0:56
SPEAKER_00: So we're we're gonna talk about the philosophy, then we're gonna talk about how to apply.
1:00
SPEAKER_00: And Dr.
1:00
SPEAKER_00: Blake's gonna uh dive deep into that.
1:03
SPEAKER_00: My name's Gary.
1:04
SPEAKER_00: I'm the co-host of the podcast.
1:06
SPEAKER_00: Along with my friend Dr.
1:07
SPEAKER_00: Blake Hambler, we're diving deep into his office to get him to do a$10 million practice.
1:13
SPEAKER_00: We're on the road.
1:14
SPEAKER_00: There's the ups, there's the downs, and we share them along the way.
1:18
SPEAKER_00: And as always, make sure that you check out our sponsor below, Cherry.
1:22
SPEAKER_00: They allow us to do this podcast and help us to make sure that we can stay in business, your viewership, their sponsorship.
1:31
SPEAKER_00: It's a it's a team effort.
1:32
SPEAKER_00: And thank you so much for everybody tuning in.
1:35
SPEAKER_00: And thank you for everybody who's in the mastermind, which has been going great.
1:38
SPEAKER_00: And you can check out all that stuff down below.
1:41
SPEAKER_00: So let's talk about this.
1:42
SPEAKER_00: Helpful bonuses for training.
1:45
SPEAKER_00: Now, when most people think about bonuses, they think, well, the first thing that I usually hear out of a doctor's mouth is, I'm already paying them to do that.
1:52
SPEAKER_00: That's their job.
1:54
SPEAKER_00: Okay, agree.
1:55
SPEAKER_00: I I totally agree with that.
1:57
SPEAKER_00: Um, however, not everybody's motivated all the time.
2:01
SPEAKER_00: So sometimes you have to keep that motivation going.
2:04
SPEAKER_00: So the second kind of tier that most people think about is like, how do I uh incentivize this person long term to keep doing a great job or to get up over the next hub?
2:15
SPEAKER_00: The problem is a lot of team members are not wired like business owners.
2:21
SPEAKER_00: So for me, I will always, always take the long payout.
2:26
SPEAKER_00: Oh, if you work two years doing this, then you can make more money, but you get nothing now.
2:31
SPEAKER_00: I'll always take the two-year target.
2:33
SPEAKER_00: Most team members, and I've had to learn this the harder way, they don't like that.
2:38
SPEAKER_00: They don't want that, they don't want something that's unpredictable and it's going to take forever.
2:42
SPEAKER_00: They would take the instant bonus now.
2:45
SPEAKER_00: And so something that you've unlocked recently, Dr.
2:48
SPEAKER_00: Blake, is helpful bonuses towards this.
2:51
SPEAKER_00: So could you kind of explain how you came to that and your philosophy behind it?
2:55
SPEAKER_00: By the way, if you're feeling overwhelmed from all the content that Dr.
2:58
SPEAKER_00: Blake and I put out, don't feel bad.
3:00
SPEAKER_00: It's overwhelming.
3:01
SPEAKER_00: Sometimes it's hard to know where to start.
3:03
SPEAKER_00: What we did is we took a 47-page growth playbook for you, all the top resources from all the shows, and we broke them down in order so that way you can go through them one by one and you can actually make an action plan for your practice to grow.
3:16
SPEAKER_00: So we included it right down below.
3:18
SPEAKER_00: You can give us it's all we need is your email.
3:20
SPEAKER_00: We'll email it to you, and there's no strings attached, doesn't cost anything, absolutely free.
3:26
SPEAKER_00: And you'll get an email with the 47 steps, and that will help you compartmentalize all the different information that we've been giving you and give you step by step.
3:35
SPEAKER_00: So could you kind of explain how you came to that and your philosophy behind it?
3:39
SPEAKER_01: Yeah, I I agree with the comment of that's your job, just do it, right?
3:44
SPEAKER_01: Yeah, me too.
3:45
SPEAKER_01: I I've done this really poorly.
3:46
SPEAKER_01: And in fact, I've I've recently had conversations with some of my team members uh explaining how poorly I've developed bonus structures and their current structure uh in the past.
3:57
SPEAKER_01: Um, but what I would say is is that what what it what had to switch for me was not how do we grow revenue.
4:06
SPEAKER_01: And I know revenue is the only way that you can potentially pay people more money.
4:11
SPEAKER_01: You have to see more money come in uh or potentially come in before you can disperse more money otherwise.
4:19
SPEAKER_01: What I what I will say is the the unlock for me, and this is from one of my coaches, is how do we switch it from revenue to growing people?
4:28
SPEAKER_01: When we can focus on growing people, then things will change.
4:32
SPEAKER_01: And so naturally, as you develop and grow people, revenue generally will kind of creep up with it because you're you're you're building you're building more people that are better at their job, that do things better, and it accomplishes all the goals that you have.
4:50
SPEAKER_01: As you mentioned, a a common uh pushback is well, I I'm already paying them, I don't want to pay them to do their job.
4:57
SPEAKER_01: Great.
4:58
SPEAKER_01: Then let's figure out how they can grow themselves or grow other people that will allow us to be able to do that.
5:04
SPEAKER_00: Yeah, I really love that.
5:05
SPEAKER_00: And I think the biggest mistake that people make with this is, and I and myself included in that, is we see somebody who's doing a good job, so then we go, hey, you get to be the leader of this.
5:17
SPEAKER_00: And what ends up happening is you remove your best team member, so you lose that production, but you also didn't that's not the their you just made them front desk lead or whatever, uh, which is fine.
5:30
SPEAKER_00: But now you have to someone has to train them on that position because it's totally different than being the front desk.
5:36
SPEAKER_00: And so now you have a gap at the front desk, you have somebody who needs to be trained and no one's training them.
5:42
SPEAKER_00: And in dental offices, you don't have middle management, uh, usually like with most dental offices, like the owner doctor and then the team, and everybody's busy doing dentistry.
5:51
SPEAKER_00: So um you don't have that culture of hey, middle person, you're managing these people and you're training them on every single position, nor do most of the time, most people don't know how to do every job.
6:06
SPEAKER_00: Like most people in the dental office can't tell you how to do each step.
6:09
SPEAKER_00: So how how um how are you seeing that when it comes to like one-time bonuses versus recurring bonuses?
6:18
SPEAKER_00: And rather than taking the person out of the position, just incentivizing them one time to train somebody to get them up to speak fat.
6:27
SPEAKER_01: Yeah, really good incentive design.
6:29
SPEAKER_01: So I another unlock that I've just kind of untapped and we're we're breaking it out live here is uh you utilizing whatever uh the universal currency of money that most people generally appreciate, some people don't.
6:45
SPEAKER_01: Some people want freedom, and so you might incentivize them with a paid day off, right?
6:51
SPEAKER_01: But finding what what they value and then saying, hey, I tell you what, if if in the next 30 days you can take Jane and build Jane to be 80% of where you're at, and you've got to define what that looks like.
7:07
SPEAKER_01: If you can take Jane to and make her 80% of what what you are today, then I'm gonna pay you a$500 bonus.
7:14
SPEAKER_01: And they're like, really?
7:16
SPEAKER_01: Yeah, absolutely.
7:17
SPEAKER_01: But what they're doing is they're they're developing other people with skills underneath them that allows them to ascend.
7:24
SPEAKER_01: Right.
7:24
SPEAKER_01: So as the the best way to learn something is to teach it.
7:28
SPEAKER_01: So you take those great people and they and they teach them how to do that.
7:32
SPEAKER_01: There's so many benefits to this.
7:34
SPEAKER_01: It creates a culture of uh it it within the office of people supporting one another.
7:39
SPEAKER_01: Like you've got you've got one person, let's say you've got a team of six, you've got one person in each kind of department helping uh nurture and guide another uh person along.
7:48
SPEAKER_01: They feel supported, they stay for a long time, you don't have a lot of turnover, right?
7:53
SPEAKER_01: A lot of benefits come from this, and you don't have to pay a long-term price for a short-term solution, right?
8:00
SPEAKER_01: And I'm all for incentive design long term.
8:03
SPEAKER_01: I think that that has to be brought in, and I know we'll talk about that later, but how do we get from point A to point B?
8:09
SPEAKER_01: We want a short-term plan, uh, a short-term plan to be able to get to that point, right?
8:14
SPEAKER_01: And so how do we do that?
8:16
SPEAKER_01: Put some money in front of them and say, go grow people.
8:19
SPEAKER_01: If you can grow people, you can have this money.
8:22
SPEAKER_00: Yep.
8:22
SPEAKER_00: So you're so uh Blake, you're amazing at X thing answering the phones, whatever.
8:30
SPEAKER_00: And I really want other people to be awesome like you.
8:33
SPEAKER_00: So I want to give you a bonus to go help Susan, which I know you were probably gonna train her and help her anyways, but I want to incentivize you to do as fast as possible.
8:43
SPEAKER_00: So over the next week, I want you to make her awesome like you.
8:46
SPEAKER_00: I want you to document it, I want you to go through it, and I'm gonna give you a$500 bonus or a thousand, whatever.
8:52
SPEAKER_00: And then, and whatever is, or or it might be like you said, a day off or extra PTO, whatever it may be that motivates them.
8:58
SPEAKER_00: And now they're going, you just complimented them.
9:01
SPEAKER_00: But the other thing you're doing here is you're testing their leadership and their management skills and also just their desire to do it.
9:10
SPEAKER_00: If she comes, if Blake comes back and goes, Hey, it only took me one day, they're already doing my full job, and we're good.
9:17
SPEAKER_00: I'm gonna take Blake and say, Hey, that's real, that's a very interesting skill set.
9:22
SPEAKER_00: I want you to go learn this job over here now, and let's train this next person, let's do it again and let's document it and let's see if it you can do it again.
9:29
SPEAKER_00: If you do it again, it's like you just you just untap another skill out of them.
9:34
SPEAKER_00: If it takes them longer and they're like, Yeah, I liked it, thanks for the bonus, but that's you know, I want to get back to answering the phones, then great, they like to answer the phones because everybody, the thing I've learned, Dr.
9:45
SPEAKER_00: Blake, this is where I messed up big time early on.
9:48
SPEAKER_00: If you give anybody a leadership opportunity, everyone will say yes, even if they don't want it.
9:54
SPEAKER_00: Because everybody wants it at the end of the day.
9:56
SPEAKER_00: But then they get into it and they go, never mind, I don't, this is not what I thought it would be.
9:59
SPEAKER_00: So this is a great way to let them wet their beak a little bit.
10:03
SPEAKER_01: Yeah, and you nailed it earlier when you mentioned the the first thing that we do, especially in dentistry, is you're good at this, you go lead that.
10:11
SPEAKER_01: You pull you pull all the magic that they have in that in that ecosystem and you pull it, and now they're focused on something they have no clue what they're doing.
10:22
SPEAKER_00: And so this is you're not training them.
10:24
SPEAKER_01: That's right.
10:25
SPEAKER_01: And you're a business upper, right?
10:27
SPEAKER_01: Yeah, and so uh if if if you can keep them in their lane, observe are you do you have the skill of growing others?
10:36
SPEAKER_01: And if you do, we'll compensate you for it, is is a great way to start to see, okay, this person could ascend within our organization, or do they just want to answer the phones?
10:47
SPEAKER_01: And that's okay too.
10:48
SPEAKER_01: Yeah.
10:48
SPEAKER_00: Yeah, there's nothing wrong, there's nothing wrong with answering being an amazing at answering your phone.
10:52
SPEAKER_00: Some people, a lot of people actually want consistency, steadiness, and oh, if you give me a little bonus here and there to help somebody else, and I would have helped probably anyways, but and now I'll do it faster and better and document it for you.
11:05
SPEAKER_00: That is such a huge win uh for those kind of people, and it keeps them really happy.
11:10
SPEAKER_00: Um, and it gives you an opportunity to compliment them.
11:13
SPEAKER_00: So it's creating that's one of the hardest things that I've seen in dental offices, and the biggest complaint that everybody has is that there's no tracks for success.
11:22
SPEAKER_00: Like hygienists say it all the time.
11:23
SPEAKER_00: It's like, be a hygienist.
11:25
SPEAKER_00: Here's some bonuses, and that's there's no more growth.
11:30
SPEAKER_00: Like, there's no other opportunities for you.
11:31
SPEAKER_00: So, what you're doing is you're creating layers for opportunity for growth, and that keeps people engaged, makes them feel valued.
11:39
SPEAKER_00: And again, people like usually like a little bonus.
11:42
SPEAKER_00: So that's a that's the big difference between the the one-time bonus versus like the recurring bonus.
11:48
SPEAKER_00: And just we have other episodes on the recurring bonus, and there's not, I don't think correct me if I'm wrong.
11:53
SPEAKER_00: You're not saying no on recurring bonuses.
11:56
SPEAKER_00: You're just saying, how do I get these people from point A to point B?
12:00
SPEAKER_00: And then we'll figure out the recurring bonuses later as we as they uh are high performers, is that right?
12:06
SPEAKER_01: I mean, this is this is just a real world example of what we're living right now.
12:10
SPEAKER_01: We've got some treatment coordinators that are new, some of them uh have a little bit more experience in dentistry, some of them are brand new in dentistry.
12:18
SPEAKER_01: And so I'm sitting there talking to our leadership team, and I say, Well, how do we get that person up to speed as quickly as possible?
12:26
SPEAKER_01: What if we just told Susie that we would pay her a thousand dollars if within the next 30 days that Jane is just as good as you?
12:38
SPEAKER_01: So now she's not even that worried about her job.
12:40
SPEAKER_01: She's worried about how much can I get Jane to catch on.
12:43
SPEAKER_00: Love that.
12:44
SPEAKER_01: And so it's but yes, we're we're actively changing because I've done it terribly, our long-term incentive plans uh to be able to better fit and be more durable.
12:56
SPEAKER_01: A lot of times the the bonuses that in the incentive plans that I put together are just that they they were great one-time bonuses, but then I continued to pay a price for them.
13:06
SPEAKER_00: Yeah, yep.
13:07
SPEAKER_00: And that's uh another little secret out there.
13:09
SPEAKER_00: If you guys didn't watch the last podcast on bonuses, and I've again, I I've learned all of these lessons the hard way.
13:15
SPEAKER_00: Every bonus structure should always be put in place as a beta.
13:19
SPEAKER_00: Uh-huh.
13:20
SPEAKER_00: And something we are trying 30 to 90 days, we're just testing it out.
13:24
SPEAKER_00: Every even if you're like, this is bulletproof, the best bonus system ever.
13:28
SPEAKER_00: I know it's gonna work, doesn't matter.
13:30
SPEAKER_00: Just say, hey, this is a beta.
13:32
SPEAKER_00: We're doing it 30 to 90 days, and then we're gonna re-evaluate and we may change it, we may remove it, or we may add to it.
13:39
SPEAKER_00: We don't know.
13:40
SPEAKER_00: We just want to see how it does and see how the numbers do.
13:43
SPEAKER_00: Just trust me, always put that in every single time with every bonus structure with everything.
13:50
SPEAKER_00: Um, especially if you're new to bonuses and structuring uh for growth, like just put that in there.
13:56
SPEAKER_00: It'll make everybody happy at the end and will save you a lot of time, money, and headaches.
14:00
SPEAKER_00: So, okay, so let's walk through this like practically.
14:04
SPEAKER_00: And so if I'm I'm because because here's the honest truth.
14:07
SPEAKER_00: I know what you're doing, Dr.
14:08
SPEAKER_00: Blake.
14:08
SPEAKER_00: You're trying to build like a super team of super knowledgeable people.
14:12
SPEAKER_00: They're like a beehive of people helping each other and supporting each other, which is awesome.
14:17
SPEAKER_00: There's a lot of culture underpinning that you need for that.
14:20
SPEAKER_00: There's a boatload of sacrifice time and leadership that you need for that.
14:25
SPEAKER_00: And you have to have like a long-term growth vision to be able to tie into to make all that work.
14:31
SPEAKER_00: A lot of people aren't there yet.
14:33
SPEAKER_00: Most, I would say most people that listen to our show, they're not at that point yet, but I do know where they are at.
14:39
SPEAKER_00: My front desk isn't working, my TC isn't working, my my assistant isn't working, my hygienist, my office manager, whatever, all these different positions.
14:49
SPEAKER_00: So I want to walk through how you would piece this for if you were just trying to fix one department or one uh one job position.
14:58
SPEAKER_00: So if you're listening and you go, hey, uh my you know what, my front desk has been a dumpster fire for the last year.
15:05
SPEAKER_00: I haven't figured out how to get it off the ground yet.
15:07
SPEAKER_00: How would you use something like this to incentify um a new person coming in?
15:13
SPEAKER_00: And maybe I'm gonna make it harder on you.
15:16
SPEAKER_00: Maybe you don't have somebody to help transfer the knowledge over to them.
15:20
SPEAKER_01: Yeah.
15:20
SPEAKER_01: So the problem is what what's the problem at the front desk that we're we're not answering the phones?
15:27
SPEAKER_00: Yeah, they don't, they just I I've I've had um somebody at the front desk for 20 years.
15:34
SPEAKER_00: Um, or they were I bought them when I bought the office, they came with it.
15:38
SPEAKER_00: Betty is her name, and she's been in dental for 50 years.
15:42
SPEAKER_00: Um, she doesn't listen to me uh no matter what I train her on.
15:46
SPEAKER_00: She tells me she has a better way of doing it, and she says she would rather die than change the what things that I want to change.
15:54
SPEAKER_00: So I have to get rid of her.
15:55
SPEAKER_01: I was gonna say just fire Betty.
15:58
SPEAKER_00: Yeah, okay.
15:58
SPEAKER_00: So you're gonna fire Betty, but the problem is, is like, I I don't know how to bring like a new person on and those kind of things.
16:05
SPEAKER_00: So how would you how would you push that through?
16:08
SPEAKER_01: Yeah, in a small ecosystem, that that is what's so difficult about dentistry.
16:13
SPEAKER_01: And you you live this every day, Gary.
16:15
SPEAKER_01: Like you get to touch hand or you get to touch so many practices that are so different.
16:21
SPEAKER_01: And we are doing the dentistry, but there's so many other demands that uh our our business and our practice demand of us.
16:29
SPEAKER_01: And so what that looks like is setting aside time in the morning.
16:32
SPEAKER_01: So you bring this new person on, you say, Okay, Julie, I know I know you've never done this before, but I want you to know that I'm I'm here and I'm committed to seeing you grow and develop into the person that I believe that you can be.
16:45
SPEAKER_01: I want you to know that I chose you, I selected you, and I think you've got a bright future here.
16:50
SPEAKER_01: And so what I want to do is I want to teach you these few things.
16:53
SPEAKER_01: And my goal is by the end of this week, I want you to have this foundation.
16:58
SPEAKER_01: And having this foundation means three things that you ha that you've learned A, B, and C.
17:04
SPEAKER_01: And that's a win for this week.
17:05
SPEAKER_01: I don't need you to learn everything, I just need you to learn A, B, and C and feel good.
17:08
SPEAKER_00: That's so good.
17:09
SPEAKER_01: Right?
17:10
SPEAKER_01: Yep.
17:11
SPEAKER_01: And then to get back to the incentive part, after whoever whatever her name was, I forget.
17:18
SPEAKER_01: Uh after she develops as a as a person in the position, then you might notice that, hey, we're we're missing uh 40% of our phone calls.
17:31
SPEAKER_01: Okay, so you go back to her, you say, Hey, hey, Susie.
17:34
SPEAKER_01: I would love to see our missed missed call rate go from 40% to 20%.
17:40
SPEAKER_01: If we can see a 20% decrease, what I'd like to do is actually incentivize you by giving you$500, if we can see that, right?
17:48
SPEAKER_00: This month.
17:49
SPEAKER_01: This month.
17:50
SPEAKER_00: Yeah.
17:50
SPEAKER_01: And and just see if it's possible.
17:52
SPEAKER_01: See what can happen.
17:53
SPEAKER_01: Try to break something.
17:54
SPEAKER_00: And and stuff's gonna break, and you're probably not gonna have time to do something else.
17:59
SPEAKER_00: So I want to know when you do that, I want to know what else is breaking so I can get support and help and that's right, and those kind of things.
18:07
SPEAKER_00: So, or we can just get and then if now if Susie says, Why don't we just get AI to help us with the missed calls instead for$199 instead of okay, you're a business partner now, and uh you give them equity right away, right?
18:21
SPEAKER_00: Um, so what if okay, so now let's use like an assistant or a hygienist.
18:27
SPEAKER_00: It's you you have some people in your office that are really good at their jobs, but they're probably not leadership material.
18:34
SPEAKER_00: They you wouldn't necessarily say, but they're great at their jobs.
18:38
SPEAKER_00: You either clinically sound, they know you in and out.
18:42
SPEAKER_00: How would you get that person motivated to work with a new assistant or hygienist that you're bringing in?
18:49
SPEAKER_01: Yeah, so we're talking maybe a hygienist on a hygienist.
18:54
SPEAKER_01: So hygienist, we're we just hired a new hygienist, and we need that hygienist to be up to speed as soon as possible.
19:00
SPEAKER_01: Okay, cool.
19:01
SPEAKER_01: So, hey Susie, we as you know, we've got a couple of really key metrics that we track here in the practice.
19:09
SPEAKER_01: Hygiene reappointment rate, fluoride, lasers, microscope, stuff like that.
19:14
SPEAKER_01: I know you know how important these are.
19:16
SPEAKER_01: Can you do me a favor?
19:17
SPEAKER_01: I'd love for you to show um Julie, the new uh hygienist, uh how you've been successful in doing this.
19:24
SPEAKER_01: When I look at the numbers, you're the best.
19:26
SPEAKER_01: You've done that the best, right?
19:29
SPEAKER_01: And uh what I'd love for you to do is teach her the the the uh tricks of the trade so that she can get on board as quickly as possible.
19:37
SPEAKER_01: And I tell you what, if if she can get the same metrics as you on three of the those four metrics, what I want to do is give you a one-time bonus of five hundred dollars.
19:47
SPEAKER_01: Uh and you can make the dollar not whatever it is.
19:50
SPEAKER_01: But you're giving them reason to go grow other people.
19:53
SPEAKER_01: Another really great and this is my brain could never come up with this, but another really great uh idea, even with doctors, is I've I've heard a story of a great doctor associate wanted a wanted a race.
20:10
SPEAKER_01: And so what the owner saw was they were a great doctor, they were producing at a at a level that was just uncommon.
20:19
SPEAKER_01: So instead of giving them a five percent raise on the the dentistry that they did, they said, I tell you what, you go coach and mentor our other three doctors, and I'll give you five percent on everything above what they're currently at.
20:34
SPEAKER_01: So one of them goes from 60 to 80, one of them goes from 80 to 100.
20:39
SPEAKER_01: Well, guess who's winning?
20:40
SPEAKER_01: Everybody.
20:41
SPEAKER_00: Yeah, and you're using your mouth, not your back, which is way better for a dentist, especially if you're already cranking out um cranking out dentistry.
20:49
SPEAKER_00: So that's huge, huge, huge, so smart.
20:52
SPEAKER_00: Like you, everybody wins in that scenario.
20:55
SPEAKER_00: And and you're sure you're creating a future leader, is really what you're doing.
20:59
SPEAKER_00: So that dentist, if they can figure out how to get everybody else better, like, hey, let's go open up another practice and let's do that again.
21:06
SPEAKER_00: Um, because you you were so good at it.
21:08
SPEAKER_00: So this is really good.
21:09
SPEAKER_00: And I think one takeaway from this is if you have a one-time person where it's just like this is the only person that you have, you're gonna have to have time, you're gonna have training, and then you're gonna have to create targets.
21:25
SPEAKER_00: You have to do that as the leader.
21:27
SPEAKER_00: There is no delegating that.
21:29
SPEAKER_00: Where that gets better when you hire the second person, then Web Dr.
21:34
SPEAKER_00: Blake's explaining now you can transfer that knowledge.
21:37
SPEAKER_00: So um, that's a really, really good uh breakdown.
21:41
SPEAKER_00: I think that might be a good podcast.
21:45
SPEAKER_00: Um, trainings, targets, and your time, how you invest your time.
21:50
SPEAKER_00: So um, maybe if we come up with some KPIs for the audience that they could use, like here's what our KPIs are, here's how we think they're it, and uh, I think that might be helpful for people.
22:00
SPEAKER_00: So great episode.
22:01
SPEAKER_00: Anything else that we didn't uh we we missed?
22:04
SPEAKER_01: I would I would say some common or some things that I mistakes that I made was uh not thinking enough in the future.
22:13
SPEAKER_01: So for example, I had a lot of revenue-based goals.
22:17
SPEAKER_01: And then I went out and I invested in marketing and I bought uh in merged practices into our practice, and so I you know it took time and money to to do that, and then we hit the revenue numbers that we weren't supposed to hit because we went and spent a lot of money on marketing and bought a practice, right?
22:36
SPEAKER_01: So I would structure things more around again getting back to growth.
22:42
SPEAKER_01: Can we grow by 20%?
22:44
SPEAKER_01: Uh and and make it quarter over quarter or uh an average of two quarters, right?
22:49
SPEAKER_01: If you don't want it to change too much.
22:51
SPEAKER_01: I would also I I've done a poor job of it being like you hit it or you don't.
22:57
SPEAKER_01: I think creating bands of incentives is really good.
23:01
SPEAKER_01: So for example, maybe for your treatment coordinator, is you get uh there's a bonus of a thousand dollars every month, right?
23:09
SPEAKER_01: Well, if if in our our standard is 30% and 70% uh treatment and patient acceptance, right?
23:15
SPEAKER_01: So if we get 30 and 70, then you get you know 75% of your goal.
23:21
SPEAKER_01: If we get 32 and 73 or higher, you get uh a hundred percent of your goal.
23:28
SPEAKER_01: If we get 35 and 80, you get 125% of your goal.
23:33
SPEAKER_01: And so making it to where it's more of a game versus what everybody fears is well, we're gonna be so close to that revenue number at the end of the month, and then they're either gonna miss it by five dollars, and then you've got to be either the benevolent person who pays it out, which is setting a standard, it is, or you have to be the bad guy that says, guys, we didn't hit the bonus.
23:57
SPEAKER_01: I know we got close, but we didn't get there.
23:59
SPEAKER_01: Sheesh, yeah.
24:00
SPEAKER_00: Well, and and what happens is either your team's gonna be disgruntled or you're gonna be disgruntled.
24:06
SPEAKER_00: That's what happens with these bonus systems in the long run.
24:08
SPEAKER_00: And so having you're out and having, hey, we're gonna change this.
24:13
SPEAKER_00: In fact, I'm working through this right now in my company where we have somebody who's a high performer, amazing.
24:18
SPEAKER_00: She does a great job.
24:19
SPEAKER_00: And she does um, she had a three-tier uh bonus system, and we're consistently hitting, consistently hitting.
24:26
SPEAKER_00: So we're like, hey, we're gonna lock in this bonus for you and let's create a higher bonus tier now.
24:31
SPEAKER_00: You know what I mean?
24:32
SPEAKER_00: Like, we want you to push higher.
24:33
SPEAKER_00: Here's your base pay.
24:34
SPEAKER_00: We're gonna throw that in, roll it into your salary, and let's create the next leg up.
24:38
SPEAKER_01: So there's different love that because uh I think the statistics are like one out of ten people are built to be business owners, right?
24:48
SPEAKER_01: Yet we build these these incentives as if we were like four business owners.
24:54
SPEAKER_01: That's not what they want, they want security, right?
24:57
SPEAKER_01: And so I love that.
24:58
SPEAKER_01: Like our our our idea is like I'll keep the base the same and then I'll just I'll I'll give them a bigger bonus.
25:04
SPEAKER_01: They'll be even more excited about it.
25:05
SPEAKER_01: They're like, no, I just want to make more more hourly and go home.
25:08
SPEAKER_00: I I just want to know what I'm gonna, am I gonna be able to afford groceries and this trip that I wanted to plan?
25:13
SPEAKER_00: Um, can I afford it?
25:15
SPEAKER_00: Yes or no?
25:15
SPEAKER_01: But I love that you rolled that in.
25:17
SPEAKER_01: You just said, okay, we we've hit these goals, and I'm it's my job to hold you to the standard that we're gonna continue to do that.
25:23
SPEAKER_01: Yeah, yeah.
25:24
SPEAKER_01: But we've been doing it right.
25:25
SPEAKER_00: If we can go to the dude, I literally was like, Do you think we're gonna stop doing that?
25:30
SPEAKER_00: No, I think we'll keep doing it.
25:32
SPEAKER_00: So it's like, okay, cool, let's just lock in your bonus, and then can I want a new bonus plan?
25:37
SPEAKER_00: This is another layer, too, and and it you can you can get burnt by this pretty badly, but it works really well.
25:44
SPEAKER_00: If you can get people, especially this works what really well for high performers.
25:48
SPEAKER_00: People who are high performers, it doesn't work well.
25:50
SPEAKER_00: But if if someone's a high performer, if you can get them to create their next target in their next leg up, um they are much more likely to hit it because it's their idea.
26:01
SPEAKER_00: If you come in and you're like, hey, this target up here, they're less likely to go hit it.
26:05
SPEAKER_00: Um so there's there's a lot of different things you can do with that as well.
26:08
SPEAKER_01: I love that.
26:09
SPEAKER_00: I love that.
26:09
SPEAKER_00: Well, this is good.
26:10
SPEAKER_00: Great stuff.
26:11
SPEAKER_00: Awesome, Dr.
26:12
SPEAKER_00: Blake.
26:12
SPEAKER_00: Um, I appreciate you and uh hope you have a good one.
26:15
SPEAKER_00: Yeah, thank you, man.