Latest / My Dental Playbook / 053 The Hidden Cost of NOT Hiring an Associate: Your Practice is Quietly Dying - Part 1
Transcript
- 0:00SPEAKER_00: You're over a hundred and forty exams, then you're not able to be an effective leader for your business.
- 0:06SPEAKER_02: People think, no, I've gotta do more exams so that I can do more dentistry.
- 0:10SPEAKER_02: And the reason that you've done one point five and one point six and one point five and one point seven is because you haven't hired the associate.
- 0:18SPEAKER_02: You haven't freed up yourself to be able to do these things.
- 0:21SPEAKER_02: There's a succinct method of doing this to where you can start to give the classifies and the classifies to the associate.
- 0:28SPEAKER_02: Not because you don't want to do them, but because your time needs to become more valuable.
- 0:33SPEAKER_02: And by doing that, your business becomes more valuable.
- 0:36SPEAKER_02: So now you can grow from 1.5 to 1.8, 1.9,$2 million.
- 0:41SPEAKER_00: All right, we are live, and welcome back to another episode of My Dental Playbook.
- 0:45SPEAKER_00: I'm your co-host, Gary Byrd, and along with my friend Dr.
- 0:48SPEAKER_00: Blake Hamblin, we're following his practice from going from$2 million to a$10 million practice.
- 0:54SPEAKER_00: And if you're watching right now, we're right in the middle of this.
- 0:57SPEAKER_00: He's having an awesome year, record numbers doubling year over year.
- 1:01SPEAKER_00: And we are going to jump into the conversation that everybody has an opinion on, and most people are wrong on.
- 1:10SPEAKER_00: And it boils down to hiring an associate.
- 1:14SPEAKER_00: And this is really important to understand because Dr.
- 1:17SPEAKER_00: Blake's point of view is hey, it doesn't cost anything to hire an associate.
- 1:21SPEAKER_00: You're not going to lose money.
- 1:22SPEAKER_00: You're just going to make more money overall.
- 1:25SPEAKER_00: But there are trade-offs for it.
- 1:27SPEAKER_00: I know a lot of people online are like, no, what about minimums and people don't want to work these days and get off my lawn type guys, you know what I mean?
- 1:35SPEAKER_00: All the kids are out here ruining the world.
- 1:37SPEAKER_00: But there's a ton of opportunities.
- 1:39SPEAKER_00: There's a ton of people to help.
- 1:40SPEAKER_00: There's a lot of patients that would love to have meet with your associate and you don't have room for them.
- 1:46SPEAKER_00: So if you are a high-performing dentist closing a boatload of treatment and doing a boatload of treatment, I should say, yourself, this is the episode for you.
- 1:54SPEAKER_00: And we're going to do, we're going to film several of these and work through this problem.
- 1:59SPEAKER_00: And before we do, make sure you check out our sponsor, Cherry.
- 2:03SPEAKER_00: They're right down below.
- 2:04SPEAKER_00: They're amazing.
- 2:05SPEAKER_00: Dr.
- 2:05SPEAKER_00: Blake uses them in his office.
- 2:07SPEAKER_00: I have scores of offices that use them.
- 2:09SPEAKER_00: We have a whole training on it.
- 2:10SPEAKER_00: If you haven't checked that out, let us know and we'll get that to you.
- 2:14SPEAKER_00: Now, the first question that we always get, Dr.
- 2:16SPEAKER_00: Blake, and it seems like we go to these masterminds, and it's like, okay, your homework this month is to go find an associate.
- 2:22SPEAKER_00: That's like everybody's always first thing because they want to grow, but they don't have the capacity to grow.
- 2:30SPEAKER_00: And a lot of it is because they're the bottleneck.
- 2:32SPEAKER_00: So how do you know if it's like, should I hire an associate?
- 2:36SPEAKER_00: Hey, there's only one reason that you're watching this podcast, and it's because you want to grow.
- 2:39SPEAKER_00: We love My Dental Playbook listeners so much that we have a special gift for you.
- 2:44SPEAKER_00: We have an AI overview that we do a deep dive into your market and tell you exactly what your competition is doing and how much it would cost for you to generate new patients through online marketing.
- 2:54SPEAKER_00: If you're looking to grow, this is for you.
- 2:56SPEAKER_00: There's a link down below.
- 2:57SPEAKER_00: It takes about 15 minutes that we have to dive through that and it's completely free.
- 3:01SPEAKER_00: Check it out and continue to grow.
- 3:03SPEAKER_00: Thanks so much for being a loyal listener.
- 3:05SPEAKER_00: Back to the show.
- 3:06SPEAKER_00: How do you know if it's like, should I hire an associate?
- 3:08SPEAKER_02: Yeah, we uh I I lived this world probably two years ago.
- 3:13SPEAKER_02: And I was in the mastermind with T Bone Mansoli, and I learned so much through that process.
- 3:20SPEAKER_02: And uh if they listen to this podcast, they'll kind of laugh because they'll they'll just be like, Yeah, see, I told you.
- 3:26SPEAKER_02: Um but I I'm convinced that what what happens is is when you get a really good provider that can handle um a higher load of treatment than the average doctor, maybe per se.
- 3:42SPEAKER_02: It's a fear of not being able to grow into that new world, right?
- 3:48SPEAKER_02: And so um in our mastermind, we've got some docs that do$1.5,$2 million a year by themselves, which is incredible.
- 3:57SPEAKER_02: But they're like, but I can't hire an associate.
- 3:59SPEAKER_02: And like I w I was this doctor, so now I get to basically say no, but you you have to hire one now because you're you're redlined as it is.
- 4:10SPEAKER_02: And so what I learned was number one, when you feel like you've got a good marketing um relationship with somebody, like what unlocked my willingness to hire Dr.
- 4:21SPEAKER_02: Farrell as an associate in our practice was knowing that we we could grow infinitely if I was willing to spend the money to do so.
- 4:30SPEAKER_00: I remember when that all turned on for you because you not only you you did like five things at once.
- 4:34SPEAKER_00: You were like, new building, hire an associate, hire a bigger team, more like you really like you went all in once you realize I can get more new patients.
- 4:42SPEAKER_02: Yeah.
- 4:43SPEAKER_02: And so I think I think that's what is really holding doctors back.
- 4:46SPEAKER_02: I don't think they actually believe that they can't hire an associate.
- 4:50SPEAKER_02: I think they just believe that if they hire an associate and that associate does$500,000 that year, that then that doctor is now gonna go from doing$1.5 to a million dollars a year, which would significantly impact their taking on them cap.
- 5:04SPEAKER_02: And I understand that and I get that.
- 5:06SPEAKER_02: So what I would say is if you truly want to hire an associate, figure out how you can grow so that you can bring that associate on.
- 5:14SPEAKER_02: But there's some things that we we can talk about more in the in this episode of uh exam counts, different things like that that I look for as well, that basically tell you, like, hey, you have you can't afford not to hire an associate.
- 5:27SPEAKER_00: So I talk to doctors all the time.
- 5:29SPEAKER_00: We were just at DSI, I had probably had this conversation with two or three people.
- 5:32SPEAKER_00: Um I it's there's not a week that goes by that I don't have this conversation where doctors go, I I want to grow and I want to hire an associate and I want to build a new building and I want to do all these cool things, but I don't know if I can because I have no idea what's going on with my marketing.
- 5:47SPEAKER_00: I just spend$5,000 a month and I've been kind of in the same position forever.
- 5:51SPEAKER_00: And what I would tell everybody to do, it's very simple.
- 5:54SPEAKER_00: You have two options to figure it out like right now, this month.
- 5:57SPEAKER_00: You can figure it out this month as you're listening to this.
- 5:59SPEAKER_00: Number one, just cut your marketing in half.
- 6:01SPEAKER_00: Cut it in half.
- 6:02SPEAKER_00: That's bigger risk because it could cost you some money.
- 6:06SPEAKER_00: The one that's less risk, it does cost you some money, but it's it's it's a smaller amount of money than cutting your marketing, is double your marketing.
- 6:13SPEAKER_00: So if you're spending$5,000 to$7,000 on marketing, just go double it.
- 6:18SPEAKER_00: Go hit the gas on the gas pedal.
- 6:21SPEAKER_00: And if you don't grow, that tells you that your marketing's not doing anything, right?
- 6:26SPEAKER_00: Or there's some kind of operational broke, something's really broken inside your practice.
- 6:30SPEAKER_00: One of those things or both of those things can be true, right?
- 6:32SPEAKER_00: Like as an example, if you double your marketing budget and you no one's answering the phones, obviously you're not going to grow.
- 6:38SPEAKER_00: So it could be operational or it could be marketing.
- 6:41SPEAKER_00: And then you just have to find somebody who's gonna help you close those gaps, both on the marketing and the operation side.
- 6:46SPEAKER_00: So that's that's literally the simplest way that I've been able to figure out is our marketing working?
- 6:52SPEAKER_00: Just turn it off or cut it down or double it.
- 6:54SPEAKER_00: And you've you've gone through that, Dr.
- 6:56SPEAKER_00: Blake.
- 6:56SPEAKER_00: I've had these conversations where there's been times where it was like, man, let's not right now go up because we're not getting the return.
- 7:03SPEAKER_00: Or hey, let's let's get way more new patients and we turn everything up and the faucets come on.
- 7:09SPEAKER_00: There's no denying marketing's working when you do that.
- 7:12SPEAKER_00: Like it's just like, yeah, we saw way more new patients.
- 7:14SPEAKER_00: So that is the easiest way to figure out what growth is.
- 7:18SPEAKER_00: Then you can have the associate conversation because now you're like, cool, we got a good, we just doubled our new patients this month.
- 7:25SPEAKER_00: We can get an associate.
- 7:27SPEAKER_00: So let's assume that we move past that now.
- 7:30SPEAKER_00: What are some other ways to know that man, you're redlining as a doctor, like you just can't do this long term.
- 7:37SPEAKER_00: You might be able to do it for a year or a season, but you're not doing this long term.
- 7:40SPEAKER_00: What are some things that you're looking at?
- 7:42SPEAKER_02: The the thing that we see all the time, and again, I can speak from experience because I I was doing the same thing, is a single single doc practice doing$125 to$2 million a year.
- 7:55SPEAKER_02: And they're doing$200 and fifty exams a month.
- 8:00SPEAKER_02: I mean, I didn't believe this until I actually started living this out, but anything more than 140 exams per month for a single doctor, you're not gonna be getting as much as you can out of those exam those other exams that you do over.
- 8:16SPEAKER_02: Right?
- 8:16SPEAKER_02: So if you're doing 140 exams, anything over the so if you let's say you're doing two and two hundred and twenty exams a month, you need an associate, and they're not gonna be as productive and they're not gonna be as fast, but those exams are gonna be way better than you coming in and being slammed running two columns, checking three columns of hygiene, and you're just missing stuff, and you're not able to have the conversations, and it's not about time.
- 8:39SPEAKER_02: It's not about sitting down for 30 minutes with each patient that you see to get them to to close treatment.
- 8:46SPEAKER_02: It's simply it's simply sitting down and feeling the freedom to have the conversation with Carrie about what are the concerns, what are the issues, are are we aware of these things?
- 8:57SPEAKER_02: Um and when you're just running on a treadmill and you're running, running, running and going, going, going, you can't have those conversations effectively.
- 9:06SPEAKER_02: So looking at exam count, counting how many periodic exams are we doing?
- 9:10SPEAKER_02: 140 or more, you need an associate.
- 9:14SPEAKER_02: If you're doing more than 30 cop exams, another sign you might need an associate.
- 9:18SPEAKER_00: So if you're over another way to say this is if you're over 140 exams, then you're not able to be an effective leader for your business.
- 9:29SPEAKER_01: Yeah.
- 9:29SPEAKER_00: Is that is that right?
- 9:30SPEAKER_00: Because you just don't have the time to do it, right?
- 9:32SPEAKER_02: For sure.
- 9:32SPEAKER_02: Well, and and people people think, no, I've got to do more exams so that I can do more dentistry.
- 9:38SPEAKER_02: And the reason that you've done 1.5 and 1.6 and 1.5 and 1.7 is because you haven't hired the associate, you haven't freed up yourself to be able to do these things.
- 9:50SPEAKER_02: And there's a there's a succinct method of doing this to where you can start to give the class five and the class ones to the associate, not because you don't want to do them, but because your time needs to become more valuable.
- 10:03SPEAKER_02: And it and by doing that, your business becomes more valuable.
- 10:07SPEAKER_02: So now you can grow from 1.5 to 1.8, 1.9,$2 million.
- 10:13SPEAKER_02: And then once you've once you figure that out, the the light bulb comes on, and then you realize how you can leverage other people to help grow the business.
- 10:21SPEAKER_00: You know what I've over the years I've watched doctors do this where they push themselves way past this number.
- 10:27SPEAKER_00: And the number one sign that I and I I try to explain to my team so we can be as empathetic as possible is that you do dentistry all day, then you hop on a vendor meeting or a team meeting or something, and you are just like mad.
- 10:42SPEAKER_00: You're you're just angry, and you just instantly just like bam, and and everybody else is like, oh.
- 10:51SPEAKER_00: And I try to explain to my team, guys, all that means is he he probably was just doing like eight hours of dentistry and and he's just poking his head up, and now he sees that you know new patients are off track by two, and he's gonna crash out on you about it.
- 11:07SPEAKER_00: Like that's just the way it works.
- 11:09SPEAKER_00: And so if you're in that position, if you're getting angry about everything, you don't have time to fix anything, and instead you just yell at everybody to fix it, probably means you're doing too much.
- 11:19SPEAKER_00: And if you bring in an associate, you can start to work on the business.
- 11:24SPEAKER_00: And I think that's awesome.
- 11:25SPEAKER_00: Now, to answer the question, because I posted on Facebook and I said, Why wouldn't you hire an associate?
- 11:32SPEAKER_00: It's basically free to hire them.
- 11:35SPEAKER_00: The number one thing everybody said, not everybody, but a lot of people who disagree, some people totally agreed.
- 11:40SPEAKER_00: But some people the people who disagreed, they said, no, not today, not today's dentist.
- 11:45SPEAKER_00: Uh, if you hire an associate, you gotta pay them a minimum.
- 11:48SPEAKER_00: You gotta uh pay um, you know, they're not willing to work, they're not willing to put in the time, they don't want to learn.
- 11:54SPEAKER_00: What's your thoughts on that?
- 11:56SPEAKER_00: Like, what's your answer to that?
- 11:57SPEAKER_02: The dentist that wants to work for me would not accept them.
- 12:02SPEAKER_02: They would they wouldn't allow it.
- 12:04SPEAKER_02: They would they would want to have unlimited potential to grow.
- 12:08SPEAKER_02: And not that if you put a that you can't give them a adjusted production collections commission off that.
- 12:17SPEAKER_02: But the type of human being that would want to work in in with me and that I would want to work with them doesn't want a minimum.
- 12:28SPEAKER_02: And we do minimums, we do minimums for the first three months because we want to make sure that it's our job in the first three months to make sure that you're onboarded correctly and that you understand the the systems and the protocols and how we do things and we can train you and coach you and teach you.
- 12:43SPEAKER_02: But then after three months, if you can't go out and take those things and do it, then you're just not the right fit and we'll we'll move on.
- 12:51SPEAKER_02: Um so I to me that's a leadership problem.
- 12:55SPEAKER_00: Yeah, I agree.
- 12:55SPEAKER_00: And and and I think it goes back to the initial problem that we said too, Dr.
- 12:59SPEAKER_00: Blake, is like for me, if I was a dentist, I want to work at your practice because there's a boatload of opportunity sitting in front of me.
- 13:06SPEAKER_02: But if there's the other thing I was gonna say.
- 13:09SPEAKER_00: Okay, okay, yeah.
- 13:09SPEAKER_02: Yeah, yeah.
- 13:10SPEAKER_02: So I I I think the the other thing is that uh when you when you can when you've gone to all the CE and you know how to teach somebody and mentor somebody and you've got a culture that people walk in and they're begging to be a part of it, whether they're coming in as a front office team member or a dentist, right?
- 13:31SPEAKER_02: Um when you've got um a collections pr uh protocol that works well and doctors know that we're gonna collect the money and the team knows we're gonna collect the money, we're gonna have be able to run payroll on time and we're not gonna miss payroll.
- 13:47SPEAKER_02: Um when they know that we're gonna see 200 new patients a month and they're not gonna have to worry about the volume of patients coming through the door.
- 13:56SPEAKER_02: Like you have to build the job you would want to take.
- 14:00SPEAKER_02: Like you wouldn't want to like if you would look at your your office and be like, would I be an associate if nothing else changed and I was and I was still here and you said no?
- 14:09SPEAKER_02: Well then why would anybody else?
- 14:11SPEAKER_02: That's why you have to pay on people should be begging to work for you and with you, right?
- 14:18SPEAKER_02: And if that's not the case, then how can you create that?
- 14:20SPEAKER_02: And you're in control.
- 14:21SPEAKER_00: Yeah, and then that's what it's like it's it's it's very similar to a sales position.
- 14:26SPEAKER_00: I know Dennis don't like to hear that, but in sales, you what you're trying to figure out is what's my maximum upside, which is usually commission only.
- 14:34SPEAKER_00: I mean you don't get paid unless you do the treatment.
- 14:36SPEAKER_00: And then the second question is, is what's my volume?
- 14:39SPEAKER_00: How many at bats am I going to get?
- 14:42SPEAKER_00: And if you have a lot of at bats and you have a high uh commission package that's commission only, that's like the best of all worlds.
- 14:50SPEAKER_00: And w why wouldn't you do that?
- 14:52SPEAKER_00: It's almost better than owning because you have zero risk, zero overhead, zero, you know what I mean?
- 14:56SPEAKER_00: Like you can, I can go make more than an owner doctor in most situations or or more like the stress.
- 15:04SPEAKER_00: Yeah, no stress, no HR, no, no PR, no, you know, marketing budget, no, no uh all of those things, you know, like accounts for like I'm not worried about that.
- 15:14SPEAKER_00: I and insurance and breaking the law.
- 15:19SPEAKER_00: So you have all the upside and all the opportunity.
- 15:21SPEAKER_00: So I would I would push back and say, man, if you are only attracting the people with the minimum mindset, then that means you probably haven't built the practice that the solid people want to work at, right?
- 15:36SPEAKER_02: Yeah, it's not gonna be a popular podcast, Gary.
- 15:39SPEAKER_02: I I agree with you.
- 15:42SPEAKER_00: You think you think you think I'm gonna get kicked out of dental for for real this time?
- 15:46SPEAKER_01: Maybe so.
- 15:47SPEAKER_01: We'll see.
- 15:48SPEAKER_00: Well, so this is really good.
- 15:50SPEAKER_00: So we have several other things um that I want to talk through because it's not just about should I hire an associate?
- 15:56SPEAKER_00: It's pretty clear unless you're a brand new practice, you should be hiring an associate.
- 16:01SPEAKER_00: Even if you are a brand new practice, I would start looking for associates.
- 16:04SPEAKER_00: Like I would always be hiring associates.
- 16:06SPEAKER_00: And and and and the other thing that maybe we can touch on before we just close this up and talk about what the future shows are going to be about.
- 16:14SPEAKER_00: I would also say, like, the other thing that people miss a lot of times about associates is it gives you ultimate flexibility because a lot of times people are like, well, I'll just sell my practice when I want to retire, whenever that is.
- 16:26SPEAKER_00: And you're losing so much of your upside if you do that.
- 16:29SPEAKER_00: But if you have an associate working in your practice, not only can you take time off, not only can do you have like ultimate flexibility, but you can also just keep the practice and and run it indefinitely.
- 16:41SPEAKER_02: Yeah, redundancy is the biggest cheat card in business that you can ever have.
- 16:46SPEAKER_02: And I used to just believe that in technology and things.
- 16:50SPEAKER_02: So we would have multiple scanners, multiple uh autoclaves, all those things, so that if something broke or whatever, we could we could still operate.
- 16:59SPEAKER_02: But now, even more so, I'm learning redundancy in people.
- 17:03SPEAKER_02: And we talked about that with hygienists, we're talking about that with the associates, we're talking about that with the assistants of the front office.
- 17:10SPEAKER_02: And that's how you get um when you compare that with an engine, a marketing engine behind it, that's how you can grow in depth, right?
- 17:20SPEAKER_02: That that's how you can grow from doing a five-hour practice to eventually being open potentially seven days a week with being open twelve hours a day each day.
- 17:29SPEAKER_02: You know what I mean?
- 17:30SPEAKER_02: Like you wonder how do offices get there, that's how.
- 17:34SPEAKER_02: The redundancy forces you to grow into that, right?
- 17:38SPEAKER_02: And I'm not saying that's for everybody, and I'm not saying that you should do that.
- 17:41SPEAKER_02: But what I'm saying is it's like if you're if you're the office with five people, you should at least mentally run the calculation and understand what would it look like for us to get to 10.
- 17:53SPEAKER_00: Yeah.
- 17:53SPEAKER_00: What would you do?
- 17:55SPEAKER_02: Right.
- 17:55SPEAKER_02: And what freedom would that give me?
- 17:58SPEAKER_02: And would it be worth paying that money to have that free yeah?
- 18:01SPEAKER_00: I love it.
- 18:01SPEAKER_00: Yeah, I love that mindset, is like buying buying back your time.
- 18:05SPEAKER_00: However, that looks, it could be someone mowing your lawn or someone doing the dentistry for you as well.
- 18:10SPEAKER_00: Um, okay, so future episodes.
- 18:12SPEAKER_00: So this is a really good start.
- 18:14SPEAKER_00: Future, we're gonna talk about um how who's gonna like how to get your associates up to speed.
- 18:21SPEAKER_00: So I know you have some things that you've done in the past where you help them both by how you do the treatment, how they uh participate in that, also about who sees the patient first and and take it until the person learns, the associate learns how to get up to speed.
- 18:37SPEAKER_00: We're also gonna talk about some different like pay structures, bonuses, mentorship, what that actually means, what associates are actually looking for, and how to deliver that, and then pay structures, uh, or I'm sorry, and then red flags.
- 18:50SPEAKER_00: We talked about this in our recent mastermind.
- 18:52SPEAKER_00: If you're not in our mastermind, go check that out.
- 18:54SPEAKER_00: Uh, someone was like, hey, I have this associate, I'm having this problem, this problem, this problem.
- 18:59SPEAKER_00: You were like, Did they already sign?
- 19:00SPEAKER_00: And he said, No, you're like, no, no, no, no, no, no.
- 19:03SPEAKER_00: Don't tell them, rescind your offer to them.
- 19:06SPEAKER_00: Why?
- 19:07SPEAKER_00: You just gave me like five red flags.
- 19:09SPEAKER_00: I wouldn't hire this person.
- 19:10SPEAKER_00: I was like, oh, that's really good.
- 19:11SPEAKER_00: That was really wise advice.
- 19:13SPEAKER_00: And so, uh, and we'll talk a little bit about like insurances and different things like that.
- 19:18SPEAKER_00: So we'll jump into that in the later episodes.
- 19:21SPEAKER_00: Any closing thoughts before we uh shut this down?
- 19:24SPEAKER_02: No, I I think what I challenge a lot of people in our mastermind and what I'll challenge people in this uh listen to this podcast that don't currently have an associate is just to explore your reason why you don't have one.
- 19:36SPEAKER_02: Um there's a lot of limiting beliefs, and again, I I had those same limiting beliefs.
- 19:42SPEAKER_02: Uh and I've totally changed my perspective on where an associate is.
- 19:47SPEAKER_02: An associate does exactly what you said, it gives me more freedom, it allows me to grow my business, it allows me to be able to focus on the things that I'm uniquely gifted to focus on.
- 19:59SPEAKER_02: Um and it it really is uh one of the things it's not about it's not about you stepping away from the chair today, you stepping into something that's uniquely yours, that you're gifted in, and that you might even have no passion for.
- 20:15SPEAKER_02: Uh or it's just it's just quite simply you having somebody else in the office that understands what you're walking through, right?
- 20:23SPEAKER_02: Uh so explore hook holes in what what your philosophy of of associates might be and why you have it.
- 20:30SPEAKER_02: And maybe what could change around it.
- 20:33SPEAKER_02: And if you want me to help you with that, uh just join the mastermind and I'm a broken record in there.
- 20:39SPEAKER_02: So you'll enjoy it.
- 20:41SPEAKER_00: Yes, sir.
- 20:41SPEAKER_00: All right, awesome show.
- 20:42SPEAKER_00: Thanks, Doctor Blakes, for your time.
- 20:44SPEAKER_00: I really appreciate it.
- 20:44SPEAKER_00: You've got absolutely.