I think of opportunities as a tiger. Elusively hidden in plain sight. Their beautiful creatures if you can actually find them in the wild. But when you do find one, do you even know what to do?
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The more I talk to young dentists I’m finding a disheartening trend. This may just be conjecture from personal experience. So please write back and let me know if I’m just a cranky old fart.
It’s my job to communicate that a spectacular opportunity awaits the right candidate. I have a staff willing to work, I have management willing to listen, and doctors willing to mentor.
As a baby dentist, it took me an hour to just make a temp crown. Root Canals became a game of Perf or Dare. ‘Raging Turtle’ could’ve been my middle name.
Now let’s zoom back to that moment of leaving the cradle of dental school. You don’t know very much. Dentists, brokers and corporate recruiters look at you like a juicy occlusal. You hear sexy whispers of ‘Do Dentistry, Then Leave It In The Office’, ‘Autonomy’, ‘Partnership and Ownership’.
At that point, you’ve heard of all the horror stories the upperclassmen are now experiencing. Rugpulls, empty promises and straight stealing of patients. It’s a clusterF landmine of horrid dental experiences. But every once in a while, you hear about the colleague that fell into just the right ADEC chair.
So how do you tell the practice full of rotten dentists from the super flossers?
Being more experienced in the investment side that has set me up for life, I’d like to lend a tip or two for those searching for their next opportunity.
First, think of your time utilized as investment equity. It’s like a wad of cash, it’s not endless, there is only so much you can spend. If this stop isn’t quite right, what’s your timeframe to start looking elsewhere? One month? One Year? Two? Five?
Great investor’s DYOR. Do Your OWN Research. And this is where a lot of kids fail. Doing your own research isn’t the questions you ask at the interview or a lawyer reading the contract. I can promise you a 5 Million Dollar practice, and withhold the caveat that it comes with having to eat poop from the hands of your staff and patients each day.
The problem we’re ultimately dealing with is another human. Or in this case an anal retentive, Type A, socially awkward Dentist.
Research is talking to any previous associates. Talking to staff and reading the temperature. It’s every interaction if someone says what they’ll do and do what they’ll say.
I was promised to place implants. My goal was to do it by my 2nd year out. It didn’t happen until 7 years later when I kept working for others.
Research Research Research!
And even a well researched thesis, there is one last item. It’s not scientific at all. Gut. Yea. Your Gut Feeling. That sensation churning and feeling unsure after doing all the research, probably a good call to get the heck out of there.
Remember, we were all scared and at some point took a leap of faith. That’s all I really want this next generation of dentists to do. At some point, be open to the possibilities, do the research, then leap!
Cause if that Tiger is staring at you, are you running or ready to tame it?
Lam