Maximizing for Profit or Growth - Ask George - The Shared Practices Podcast

: I was really proud of having a pivot that was big enough that it caused caused : you to take pause. Like, I got pushback from George. : And I'm like, okay, this is a pivot. This is, you know, usually you're on board, : you know, like 100%. You're like two pivots ahead of me. And I caught you on this one. CoHost Track:: Yeah, I, you know, I thought we would like maybe trim down the feet. CoHost Track:: And so I was, you know, Richard and I would talk about trimming down the feet.

CoHost Track:: And, you know, Richard trimmed the whole feet. CoHost Track:: And I think that was where I was, you know, like, Like, whoa, CoHost Track:: okay, we're really doing this. CoHost Track:: And, you know, honestly, now that we've done it, I'm very pleased with your idea.

CoHost Track:: Because I think that, you know, we've iterated, like, you know, CoHost Track:: how many times do we say like, oh, you know, like season two, CoHost Track:: like we said all this stuff there that we don't really believe right now. CoHost Track:: And, you know, it's like, well, maybe we should just like, cut it and let's CoHost Track:: just start over so that every episode on this feed is we believe in and it's CoHost Track:: updated and there's newer content.

CoHost Track:: Content and so you know hats off to you to not being attached to the 600 some CoHost Track:: odd episodes that we've recorded and just being ready to kind.

: Of iterate if anyone's interested they still exist we need to you know kind : of state this multiple times the shared practices archives if you search for : it should be showing up on on major feeds and platforms the episodes are all : still out there but i really do think that one of the biggest problems right : now is not a lack of information information, : there is an abundance of information everywhere. : We got to the point where even our podcast, 700 episodes, someone finds us and

: they're just instantly overwhelmed. Like, where do I even start? : Do I go back to the beginning? Any of that? So we just want to say, : hey, no, we're going to solve that problem for you. : Start with us, the beginning of Shared Practices 2.0 and come along for the ride. : And, you know, in eight years, maybe we'll burn this down. But who knows? : In the meantime, we're going to give you way better content than what we knew eight years ago.

: And that's just the reality. and with our new co-host, Dr. : Scott Luna, there's just information that he brings and that we bring and that : we can synergize together and that we can bounce off of each other, : push back on each other that we haven't had before in the same way.

: And we're going to talk a little bit about that today because there was a sense too, : like you and I come from having taken break away and sorry to Scott, : His previous seminars that are no longer associated with him in any way, : shape, or form, that brand is not his brand. : But having taken his previous courses, those were a big influence on us. : He was the first person on the podcast.

: And we really respect his opinion. And so when he brings new information and : it collides with our framework, there's a little bit of like, : okay, what does this all mean? : And I think that's what we're going to address in today's episode, if that makes sense. CoHost Track:: Yeah. So, you know, I think to kind of give everyone the context, CoHost Track:: you know, Scott, we had our launch CoHost Track:: week and, you know, there was several people that reached out to me.

CoHost Track:: And I don't know, Richard, do you have people reaching out to you kind of after CoHost Track:: listening to episodes, hearing thoughts and kind of sending you messages? : Just little thumbs ups or liking it. CoHost Track:: Laughing at it. : But like, you know, because I'm not running anything behind the scenes in terms : of coaching and consulting, no one's actually worried talking to me.

CoHost Track:: Oh, no, no. I got a lot more. And, you know, I think that one of the things CoHost Track:: that people are really asking is, it sounds like what he's saying is different. CoHost Track:: So where does this fit in with what you guys have been saying for the last few years? CoHost Track:: And I think that, you know, that for me is kind of what we want to talk about today.

CoHost Track:: And I feel like the absolute best place to start is, I told Richard when we CoHost Track:: came on and we were doing a little pre-recording chat, I said, CoHost Track:: we need to tell the story of why it's called shared practices. CoHost Track:: Because this is something that I have been bought into to the whole time. CoHost Track:: And I use this as a guiding light when we think of adding people, CoHost Track:: changing the way we think.

CoHost Track:: And so, Richard, you know, 2016, eight years ago now, started this podcast, CoHost Track:: and you called it Shared Practices. Why? : A few layers which ironically all of them have like become true um the first being that like.

: I i didn't know everything and : i was not in a position of authority i i i the term that was used back then : that i i latched on to was like a leading learner of like i'm learning this : for myself i'm open to multiple perspectives i want people on the show who say things different than : what I assume and that disagree with the things that I say, : because by having that information, having that dialogue, : we're going to learn and it's going to stretch us and push us.

: And the only way you can do that is by sharing real experience. : Everyone's got a different journey. Everyone's has a different story. : And the, the reality of business and life is that it's messy in different ways : every time, but we've attempted to distill what we believe our best practices and share those.

: So in the, in the process of everyone sharing their practice journeys, : we've accumulated a lot of information, but as time has gone on, : we also have had a harder time playing dumb and, and pretending like we don't : have an opinion on things and bringing on people that were like, can, : can really even challenge our philosophy or bring new light to what we're building : because we're like, Hey, this works. : And we've got the data and we've got the results and we've got the clients.

: And this framework is good. : So to be able to continue to be in that frame of. : Hey, there are still other things, there's more nuance that we can find and : there's improvement that we can take on and we're gonna do it publicly and vulnerably : and it might be a little bit messy. : That's how we've always done things, but that is how you improve. : So I don't know if that's what you're looking for, but in my mind, : that embodies the philosophy.

CoHost Track:: So, something you said, and I'll maybe take previous words out of your mouth CoHost Track:: and tell you what I've always heard you say, which is. CoHost Track:: We didn't call it best practices. And Richard called it shared practices because CoHost Track:: he wanted it to be a net sum of everyone's best practices.

CoHost Track:: So, you know, we get the industry professionals, the smart people with different CoHost Track:: perspectives, and we get their best practices, and we put those all in one place, CoHost Track:: and together, they're all the shared practices.

CoHost Track:: And, you know, that for me is is kind of what I've always thought the name has meant, CoHost Track:: is like taking the smartest and most talented minds in practice management and CoHost Track:: putting all their ideas on a table and organizing them so that it's very clear. CoHost Track:: And then that is the shared practices. CoHost Track:: And we have multiple partners in our business. We have Richard's thoughts and ideas.

CoHost Track:: We have my thoughts and ideas. We have Suzanne's experience. CoHost Track:: We have so many people's ideas before we bring in Scott Luna that we've dumped them on the table. CoHost Track:: We've kind of organized them and that's our shared practices. CoHost Track:: And Scott comes and he dumps even more ideas onto our table.

CoHost Track:: And now it's up to us to iterate one more time and integrate all of his ideas CoHost Track:: with our ideas so that we can then present again the improved shared practices. CoHost Track:: And that is the process we are going through.

CoHost Track:: And so, you know, after I recorded that first episode with Suzanne, CoHost Track:: I picked up, or episode with Scott and Richard, I picked up the phone and called CoHost Track:: Suzanne and I'm like, hey, Suzanne, we're about to iterate, you know, and I saw it right away. CoHost Track:: And I saw that Scott is bringing some ideas here.

CoHost Track:: That the core of our framework is going CoHost Track:: to stay in more or less the same but he certainly CoHost Track:: added elements that are going to force us to iterate one time further and like CoHost Track:: you know i have my drawing right here so kind of like the the the new version CoHost Track:: of our chart is kind of like in very early stages of development and richard CoHost Track:: can't see it because the camera is not really showing it but But, you know,

CoHost Track:: we're in the process of iterating to make sure that what Scott talks about and CoHost Track:: what we talk about can be talked about at the same time and it to kind of be, CoHost Track:: you know, all singing the same song. CoHost Track:: And that is a really exciting process that we're going to be building courses CoHost Track:: with Scott and through those courses, we're going to be ironing out our shared philosophy.

CoHost Track:: And so that's kind of like the introduction. and so maybe Richard whatever questions CoHost Track:: you have and then we can get down into the details.

: Yeah well I think the other part that like this : is not new challenging information this fits within the framework because we've : said anything you want nothing off the table and we've said they're different : avatars there are different options and the more clear one can be in what the final destination is, : the faster our framework of metrics and coaching will get you there.

: And what we, I think for me, : the thing that I'm most excited about is these just tweaked and clarified versions : of avatars and options that people have along the journey that, : you know, because we had profitable solo and we had super solo, : but super solo had like an asterisk on it where we're like, well, : you might burn out on this and this is not predictable because we don't know : if everyone can super solo.

: You know, it's stuff like that where can we have... : An even clearer version of what the outcome can be. : And I've remembered feeling even a little like gun shy about talking about how : much money a productive solo can make, can expect to be possible on air. : And like that clarity of here is what is possible. : It might not be the thing that people can just hit into right away.

: It might take years of building and iterating and refining, but to say, : okay, I can have a million-dollar take-home at all these different levels provides : a level of clarity that our framework of here is the menu of options, : here is the vision that you choose, and then we're using the metrics to coach : you and drive you to that vision.

: So for me, this is all just super exciting because I think ultimately, : no matter where someone's at on this journey : whether they're solo multi-doctor multi-practice having : clearer options even if : they're different than the option slightly different than the option you : were driving towards originally is going to get you there faster and you're : going to be more successful and happy and so that's the mindset i'm bringing

: to this and i'm always down to like like add more information and and be like : amenable to saying like okay here's just a slightly little a little tweak. : Here's a better way of thinking about this one aspect. : And I love the humility that you've had and that we've had to say, : let's have these conversations rather than just putting ourselves out as like, : hey, this is the philosophy. : We're never going to improve on it. We're never going to iterate.

: So that's my last kind of spiel before we actually get into some of the meat and potatoes here. CoHost Track:: Yeah. So to kind of transition us, I think that we say, okay, CoHost Track:: well, where do we disagree? CoHost Track:: Or where did maybe Scott say something different than what we said? CoHost Track:: And I think I want want to start with, before we even get into that, CoHost Track:: I want to start with the clinical entrepreneur spectrum.

CoHost Track:: Because I think you really need to understand the clinical entrepreneur spectrum CoHost Track:: to understand the way that we approach things versus the way that Scott approaches things. CoHost Track:: And maybe Richard, you and I have had disagreements on this in the past. CoHost Track:: You know, I think shared practices in our early days, we attracted somebody CoHost Track:: who wanted to listen to 400 hours of podcast content, right?

CoHost Track:: And that just happened to be... Like imagine 400 hours of practice management content. CoHost Track:: Somebody consumes all of that, right? CoHost Track:: Like on the clinical entrepreneur spectrum, that's a very entrepreneurial person. Preston Pyshenko CoHost Track:: And so, you know, if you think about... : They're taking notes on every episode, yeah.

CoHost Track:: Yeah. And so, you know, the shared practices audience started and in its peak CoHost Track:: days attracted the most entrepreneurial dentists. CoHost Track:: And that was kind of like our slant. And we were a niche group, right? CoHost Track:: We weren't the broad mass appeal to all dentists. CoHost Track:: We really concentrated on those who were really, really, really diehard interested CoHost Track:: in practice management, very driven entrepreneurially.

CoHost Track:: And so when you look at the way we've built our philosophy, it's really been CoHost Track:: for that person who's very driven entrepreneur, and they want fast growth. CoHost Track:: They want to be a multi-practice, or not multi-practice, but they want to be CoHost Track:: a group practice owner with multiple dentists. CoHost Track:: That is the person we very much cater to. CoHost Track:: And as the podcast has aged and the audience has evolved, it's skewed more clinical.

CoHost Track:: And so, you know, in our early days, we had a lot of very driven entrepreneur, CoHost Track:: you know, audience members. CoHost Track:: And then as the podcast has aged, it's eight years now, you know, CoHost Track:: we've attracted a larger, more clinically minded audience.

CoHost Track:: And so what I really think the big like fundamental shift that Scott, CoHost Track:: you know, has introduced into our fold is being more inclusive, you know, where we are, CoHost Track:: you know, like the avatars that we offer, there's going to be more avatars, CoHost Track:: right? So it's not just the ones that we've created.

CoHost Track:: And there's an element of patience that we're going to be adding to the philosophy to, CoHost Track:: you know, maybe more appeal to that clinically minded person who wants to do CoHost Track:: clinical dentistry and wants to have a high income and doesn't necessarily want CoHost Track:: to take on, like, you know, When we do a solo to group transition, CoHost Track:: we tell them, yeah, your income is going to be cut for six to seven months, and then it'll be back.

CoHost Track:: And that's kind of what we tell them on the front end, and we just do it quickly. CoHost Track:: And what Scott's saying is, well, let's maybe do that over four years instead CoHost Track:: of 18 months, and then you can have the high income the whole time.

CoHost Track:: And so rather than saying, well, no, we have to do it in 18 months and cut your CoHost Track:: income, or say, no, we have to do it in four years and you have your income CoHost Track:: the whole time, we can just say, these are two different ways of doing it. CoHost Track:: This way you have your income, this way you're there faster. CoHost Track:: And it's to each their own.

CoHost Track:: And I think that's what's always differentiated us, is that we've always taken CoHost Track:: the client's vision and used that vision to inform their path. CoHost Track:: And now it's just when a client looks at our menu, there's just more options. CoHost Track:: And income is a really, really major consideration. And so on our old version of the chart... CoHost Track:: The avatars and the flow between them, it was all based on number of hygienists.

CoHost Track:: And in the updated version, there's going to be an income consideration so that CoHost Track:: somebody can see if they go down this path, what happens to my income if I go over here. CoHost Track:: And so we're going to add income to be more front and center so that people CoHost Track:: can pick... Some people... I had people message me and say, I would never work CoHost Track:: five days a week no matter how much I made. And I want the faster group practice.

: You paid me or you took home, yeah. CoHost Track:: Yeah. And so it's like, you know, we have like SP diehards messaging me saying CoHost Track:: like, no, I kind of agree with what you were saying. CoHost Track:: Like, I agree that the, you know, faster growth gets to the associate. CoHost Track:: Like, I want to have a business underneath me. CoHost Track:: And then I bet there's someone else saying like, they've been saying that for,

CoHost Track:: you know, years. And it's like, I'd rather just spend five years and make, CoHost Track:: you know, seven figures each year. CoHost Track:: And so it's like, we don't know what you want. CoHost Track:: And what this allows for us to do is to just provide more options. CoHost Track:: And so that's kind of, I think, the fundamentals of the differences and how they play together.

: I love this. The light bulb just turned on for me, George, when you were talking : about this, is when you've got an equation, and I'm sorry, audience. CoHost Track:: If my brain's instantly shut off. : Yes, I'm talking George speak here. So deal with it, folks. : If you've got an equation, you can choose to hold a certain variable constant, : and then the other variables have to change. : And so one path of getting through these phases of growth is to hold income constant.

: So we ramp up to a certain income, and we try our best to hold that income constant while we grow. : What that does is it forces the time component to possibly go longer. : The growth is more evened and more paced. : And there's another track. Rather than holding income constant, : let's maximize the growth because I know what I want. : I know what my footprint is. I know what I can grow into in this current circumstance.

: And I like it. I don't mind if I'm not making a million dollars a year along : the way, but I do know what's on the other side of this. : I know what this looks like when I get there and I know I want it.

: So let's maximize for growth speed and : so the two different tracks could be we're holding : for income or maximizing for speed of growth and : those are two different pathways and it's not we're forcing one down you know : you have to go down this one or that one they're just options and some of the : stopping points on the way might be very similar but you're just taking a different : path and that's okay so that was the light bulb moment for me just now as you were talking.

CoHost Track:: Yeah, and so that's where Suzanne and I, like, we're, you know, CoHost Track:: to get real nerdy here, like, the y-axis of our new graph will be income, you know? CoHost Track:: And so it's like, you can go up in income, and we show what that looks like. CoHost Track:: And so we're building Scott's path, which we're calling the million-dollar path.

CoHost Track:: And so, you know, if you've read Dental Moneyball, you know, CoHost Track:: our kind of original drawing, you know, I think the big, big avatar that just CoHost Track:: got totally blew up in this whole thing is Super Solo. CoHost Track:: So let's maybe start there. CoHost Track:: And, you know, because that was the episode I was on, you know, CoHost Track:: and I was sitting there and Richard has heard me speak.

CoHost Track:: I've taught, you know, I've taught ABPM more times than I can count. CoHost Track:: And each time I do throw a lot of shade towards the Super Solo. CoHost Track:: I I talk about how it's not sustainable. CoHost Track:: I've never met anyone who's done this for a long time. Happily, CoHost Track:: I have really, really, really, really discouraged this avatar.

CoHost Track:: And every time I've said it's the most predictable way to earn a highest income, CoHost Track:: however, I question its sustainability. CoHost Track:: That's been my song that I've sang about the super solo. CoHost Track:: And I think this is where Scott comes in and says, system, organization, CoHost Track:: structure, flow, low, 55 miles an hour, run your practice like a machine. CoHost Track:: And the smart solo is his iteration of the super solo.

CoHost Track:: And for me, that's an instant swap, right? The second I heard that, CoHost Track:: I was like, yeah, we have to do what Scott's saying. CoHost Track:: Because we can't be telling someone. CoHost Track:: This sucks. You know, it's like, if they want that, we need to show them how to do that well. CoHost Track:: We can't just say it sucks and don't do this when there are a subset of people CoHost Track:: who want to be smart solos.

CoHost Track:: So, you know, I think that's like the first iteration that you're going to see CoHost Track:: in the next version of our kind of framework is super solo rather than it being like this. CoHost Track:: Like in the current framework, it's like we have productive solo and we're like, CoHost Track:: go to group or if you want to like go to purgatory, you can just go be a super CoHost Track:: solo and then like you'll be unsustainable.

CoHost Track:: And, you know, now what we're saying is like, we're going to teach how to transition CoHost Track:: from productive solo to smart solo. CoHost Track:: And we're going to talk about that as a profitable and simple and sustainable avatar.

CoHost Track:: And I think that is like, for me, a very big shift in what we communicate, CoHost Track:: because that's appealing to a very clinically minded person who wants a very CoHost Track:: high income and doesn't necessarily want to go to a group practice, CoHost Track:: which is something that we haven't really catered to that individual. : Well, so ironically, I actually see the swap a little differently because I : see super solo kind of split into two.

: And Suzanne has made the point to me off air, like we're doing smart solo in certain offices.

: It's a productive solo where rather than put the potential into growth, : we've put that potential into cutting back, maximizing profit and we didn't : have that like metric endpoint for people to push towards but we're doing that : anyways so I actually see smart solo as a, : more the same as productive solo and i see : super solo as the pseudo specialist group more : because it is more the super part of : it in my brain was the specialty type

: procedures and the like higher level clinical mix that is less predictable i : can't like force people to be good at aligners and implants and and molar endo : and like be all in on the clinical aspect so in my mind half of it is just kind : of like a little tweak to productive solo. : And the other half of it kind of shifts over into this million dollar take home : with multiple doctors being a part time pseudo specialist.

: And so I see it like kind of in both, but it pulls out into these two different directions. CoHost Track:: Yeah, so it's interesting. And our current like kind of draft iteration, CoHost Track:: which we're going to be discussing with Scott. CoHost Track:: So like we're in the process of building a draft, we're going to work on it CoHost Track:: with Scott, and then we're going to kind of iterate.

CoHost Track:: And so, you know, in that version, we have it go from productive solo to smart CoHost Track:: solo, which is essentially a productive solo is somebody who does less than 1.6, right? CoHost Track:: And a smart solo does more than 1.6 by themselves. CoHost Track:: So that's kind of like the terminology we're using. And then from smart solo, CoHost Track:: I think that pseudo specialist is kind of what we're calling that, right?

CoHost Track:: Like the pseudo specialist group is like that, you You know, CoHost Track:: because in our current iteration, transition to group is like this no man's land.

CoHost Track:: And right above that, the pseudo specialist group is like that, CoHost Track:: what Richard's describing, CoHost Track:: that super dentist who is able to like transition to group smoothly because CoHost Track:: they're using specialty procedures to maintain their income along the way, CoHost Track:: which I think is a really clever, CoHost Track:: you know, path from Scott's perspective.

CoHost Track:: And so we're implementing that as kind of... It's the productive per patient path. : I mean... CoHost Track:: Yeah. : We actually kind of already had this on the track. : It's like you take super solo and the productive per patient bump and combine : that into a full group path rather than a little path between these two. : But we were pretty much there. : And I did think this is, George, this is a perfect time for another ridiculous

: acronym. acronym so we've got : the part-time pseudo specialist pts no ptps ptps there we go that's the.

CoHost Track:: I don't think we want that one no we CoHost Track:: don't so and that's where like this CoHost Track:: is really fun because to your point richard like i think i listened CoHost Track:: to that and really what i heard out of like CoHost Track:: the first few episodes is like high CoHost Track:: output solo dentistry can be CoHost Track:: sustainable right and i think that like that we haven't said that right because

CoHost Track:: we've appealed to a more entrepreneurial person scott appeals to maybe a more CoHost Track:: clinically minded dentist and so i think that like to maybe there are more of CoHost Track:: those out there and that's yeah that's been my point all along. : Was that like. CoHost Track:: Well, and that's something Richard and I have argued about all the time. CoHost Track:: I say, yeah, everyone needs to go to group.

CoHost Track:: And Richard's like, that's actually not true. Like, most people should stay solo. CoHost Track:: And we've disagreed on that for years. And I will say that I tip my cap to Richard now.

CoHost Track:: I'm more on his perspective, because I think for every one SP, CoHost Track:: you know, original, really entrepreneurial listener, CoHost Track:: there might be three or four people who maybe have a flavor of that in them, CoHost Track:: but they don't have the full or like, you know, they don't want to increase CoHost Track:: their professional risk to that degree, right? CoHost Track:: And I think that is maybe where I'm kind of like a little bit biased by my own perspective.

CoHost Track:: And I think Richard, you know, may be more mindful of what the average dentist CoHost Track:: and kind of what the, you know, what just what the population as a whole maybe is more like. CoHost Track:: And so I think that that was an area that I'll just very honestly say. CoHost Track:: You know, was a bias I have. And, you know, we now want to be inclusive, right? CoHost Track:: And I think that that is kind of an iteration that we're going to make.

CoHost Track:: So I think, like, that's like the fundamental thing that I think, CoHost Track:: like, the key differences are built on top of is that idea that you can sustain CoHost Track:: high output solo dentistry. CoHost Track:: And you can, and it's like, what did we prioritize? We prioritized speed. CoHost Track:: And so we optimized for speed of practice growth. CoHost Track:: And Scott optimized for constant income, right?

CoHost Track:: And it's like, you know, that's it. So like Richard's like the productive per patient track. CoHost Track:: Actually, if you think about it on our new diagram, the pseudo group is the CoHost Track:: highest on the income, the productive per patient track is underneath it, CoHost Track:: and the patient flow track is underneath that, right?

CoHost Track:: And so, we've now kind of created three different paths to group instead of CoHost Track:: two different paths to group and kind of the new version. CoHost Track:: And so, that's where I'm excited because it's like, no, I mean, CoHost Track:: we're really detailed analytics-based practice management people. CoHost Track:: Like, we know how to categorize things, we know how to present them, CoHost Track:: and I think that the end result of this is just way more options.

CoHost Track:: And I think that that is us evolving towards the mean. CoHost Track:: We're evolving towards just the dentist who's listening. CoHost Track:: And I think the dentist who's listening today is different than the dentist CoHost Track:: who was listening in 2018 and 19, and kind of in our days of being very involved CoHost Track:: and pushing with a very entrepreneurial audience.

: Yeah, well, and I feel like I don't know if you've ever had a major multi year : disagreement with a spouse. : And there's just like, there's no seeing eye to eye. It's like, : we just have a different opinion. : And you just very graciously said, you know what, you've been right all along. : And that happens so little in like a marriage or a partnership. : And so I just I just want to thank you on air for saying that in the first episode

: and saying that in this one. And it means a lot to me. : And and So thanks, man. And then the other part of that is. : We've also stayed shy of, and I will continue to champion this, : of the other far end of the spectrum of the entrepreneurial dentist, : of multi-practice because we did not have reps in helping other people go multi-practice.

: And I will continue to say, throw on the brakes and maybe this might not be : for you as the person who's walked : away from multi-practice multiple times because I couldn't stomach it. : I literally, you know, walked away twice from running multi-practice because : the impact for me psychologically and stress-wise, it just was not the right : fit. And I've kind of known that about myself.

: So, but I'm super excited to be able to talk in depth and have options and have : pathways and have more conversation in a non-taboo, a non like, oh, dismissive way. : It's like, no, if you want to go this direction, here's pathways, : here's options, here's metrics, here's data. : And that's really exciting for me, even though I have no appetite for it. : It's really exciting for me to be able to talk about it on air. : And I'm assuming it's the same for you.

CoHost Track:: So it's interesting, Richard, you and I are so different. And I think we both CoHost Track:: kind of very inherently know this about one another. CoHost Track:: We both have done multi-practice, and your experience of it each time is the CoHost Track:: problems get too hairy, and it creates a level of stress that I don't want to CoHost Track:: deal with. And it's not worth it. CoHost Track:: And I think that it's something that is- CoHost Track:: Go ahead. Sorry.

: To be clear, I know one of the things that I need to work on, : that if I was better at this, I'd probably be better at multi-practice, : which is my tendency to take on other people's stress and emotions and over-empathize : and not be the business owner, : not be the, hey, I need to hold you accountable. : You're an employee. You're a team member. I care about you. But ultimately, : I can't solve all your problems.

: I can't take your emotions. and so yeah so there are there are elements of myself : that i know are my limitations but anyways go on.

CoHost Track:: Well and i think it's like you know richard you are the type of dentist who CoHost Track:: you know was better fit for the million dollar path right or you know some type CoHost Track:: of like slower more sustainable, CoHost Track:: income a constant just like get there a little bit at a time every step is sustainable CoHost Track:: like Like, that was your path.

CoHost Track:: And I think that's why you saw very quickly that we were slanting too far towards CoHost Track:: the entrepreneur in what we were discussing for everyone. CoHost Track:: And I'm the opposite. I love the messiness and the problems, CoHost Track:: and they're really fun for me. CoHost Track:: And so I think it goes to show that even between us, we sit on different ends CoHost Track:: of the clinical entrepreneur spectrum.

CoHost Track:: Spectrum and like we always say pick your problems and like i like my problems that i have every day, CoHost Track:: richard doesn't want these problems and so i agree we need to pump the brakes CoHost Track:: on multi-practice and we need to continue to pump the brakes on multi-practice CoHost Track:: because it takes a very particular type of person to succeed in that type of CoHost Track:: problem right the problems get really stressful they cause lack of sleep.

CoHost Track:: They are very financial. CoHost Track:: It's not for everyone. And I think once you start going down that road, CoHost Track:: it's hard to kind of walk back. CoHost Track:: And so I agree with you. CoHost Track:: Even though I am a very entrepreneurial person who really enjoys the challenges CoHost Track:: of multi-practice, I will go without saying that it is not clean. CoHost Track:: This isn't something that is very predictable.

CoHost Track:: It is something that is very chaotic, and it requires the right type of person to pursue that path. CoHost Track:: And so I say that, and then I want to transition to what you said. CoHost Track:: You were like, oh, we had a multi-year disagreement, and you just came out and said I was wrong. CoHost Track:: And I feel like we have this whole thing of strong opinions loosely held.

CoHost Track:: And like, we're going to come out with our strong opinions and we're going to CoHost Track:: come from the bottom of our belly and tell you what we think. CoHost Track:: But then when new information comes and changes, like if you're not changing CoHost Track:: your mind, then you're just not looking at it and thinking about it, you know?

CoHost Track:: And that's just, that's never been who we are and it never will be because what CoHost Track:: we're most interested in is the shared practices. CoHost Track:: And so like for me. CoHost Track:: Like, yeah, I mean, Scott's coming and saying a very compelling reason why I'm CoHost Track:: wrong. And I'm not just going to sit there and listen to it and be like, no, I'm still right. CoHost Track:: And we're just going to have these two polarizing opinions that won't agree.

CoHost Track:: It's like, no, what he's saying is totally accurate. And we need to adjust our CoHost Track:: framework to accommodate what he's saying and what we've been saying so that CoHost Track:: we can be saying the whole thing. CoHost Track:: And I really think who wins in that is the client. CoHost Track:: Because now there's more options on the menu. CoHost Track:: There's more clarity on the different options, and you can self-identify the best path for you.

CoHost Track:: If you're more like Richard, then the million-dollar path, smart, CoHost Track:: solo, pseudo-specialist, to your entrepreneurial path, like multiple years of stable income. CoHost Track:: If you're more like me, then you're like, all right, let's just take a little CoHost Track:: bit of rip the bandaid off, let's go. CoHost Track:: And I think that that's just to each their own. CoHost Track:: And I think that there's so many different ways to skin this cat.

CoHost Track:: That and you know i think what we have to CoHost Track:: do is provide the options and the CoHost Track:: information and the like objective you CoHost Track:: know information to each dentist and CoHost Track:: what each dentist needs to do is look within themselves and say what's right CoHost Track:: for me and you know what scott really brings in my mind is he brings a patient CoHost Track:: pace that provides a higher income and takes longer but you know for the right

CoHost Track:: person can be the more compelling path. CoHost Track:: And so, you know, that's what I really like if I had to summarize kind of the differences, CoHost Track:: how we're going to integrate them, it would kind of really be in that strong CoHost Track:: opinions loosely held, client now has more options than they did before, CoHost Track:: because we're introducing more nuance and expertise to our framework.

: I love it. And, you know, so the audience knows, I've recorded the episode with : Scott of part four of that first series about multi practice, : and George hasn't heard it quite yet. : And Scott outlines a path that pushes back on our take that, : hey, this has to be stressful. : So I'm excited for you to hear it. But I also think that like, : we're not going to sugarcoat and sure, maybe it could have been done differently.

: Differently but anyone that i've ever talked to who's doing : multi-practice is more stressed than the : average single site owner and i'm still gonna stick to : that even if they enjoy it even if they love it it is : messier and it is hairier so i i really appreciate : george that we've that we're working on air that we're that we're sharing the : creation of the next version of of us and that That we're showing that process

: because there is a tendency to like disappear into a cave and never appear like : there's things that we don't know and then emerge with this new beautiful thing. : But the reality is like growth is messy. This is the growth of a framework. : It's messy. And it's going to include, you know, updates and differences and changes. : But I also love that our listeners have reached out to you and have said, : no, I actually like this path better. : I wouldn't do that path.

: I wouldn't work five days a week. I wouldn't solve for a constant million dollar take home. : I would solve for growth because I know where I'm going. I know what's possible in my location. : I know what I want and I'm okay not having the income along the way because : I know what's on the other side of it. So it's just really fun. : Thanks for being very vulnerable in this process.

: And we're going to continue to try and do that on air. So this is the first : of these types of episodes and it'll evolve as time goes on. CoHost Track:: Totally. Yeah, I couldn't agree more. And Richard, while we're closing off here, CoHost Track:: do you have anything else from those initial episodes to kind of touch on before CoHost Track:: we wrap up our episode today? : In particular, I don't. I think today talking about this on air was actually : really good for me to process it.

: And that light bulb of like solving for these different variables and having : options of tracks and different stop points along the way is what has come out of this. And I love that. : Because my favorite moment in our building of our framework was seeing the path and that slide. : And I have a feeling that my new favorite moment is going to be seeing the updated : version of the paths and the avatars and how it all fits together. : So this is just, it's just plain exciting to me.

CoHost Track:: Yeah. And like, you know, I think, you know, again, I think it's the whole goal CoHost Track:: of a dentist looking at the new version of the chart. CoHost Track:: We're going to have income be like the height of each avatar on this chart will CoHost Track:: be reflected by their income. CoHost Track:: So rather than sitting there thinking, how much does that person make? CoHost Track:: It's like, no, no, no, it's just going to be right there on the side.

CoHost Track:: Like you're going to see their income on average, and you're going to see the CoHost Track:: income relativity between the different avatars.

CoHost Track:: And I think that will open up a new perspective for people because they're going CoHost Track:: to, you know, some people, like, if you ask me, like Richard knows this about me, I always say, CoHost Track:: de-risk my personal life so that I can put all of my risk on the entrepreneurial CoHost Track:: side in my professional life.

CoHost Track:: And so like, if I said like, a million dollar income, like, I don't really like CoHost Track:: at this point in my career, I may not want that.

CoHost Track:: And that that would be how I would look at that chart. But then you have someone CoHost Track:: else and be like, you know, I got the house, I have the boat, CoHost Track:: you know, I've got like my, you know, like, I got my stuff, I've been doing CoHost Track:: well, I've been working for six to eight years, like, I'm making good money. CoHost Track:: Like, you know, shared practice is saying I can have a group practice, CoHost Track:: great, I want a group practice.

CoHost Track:: But like, do I want it bad enough to have like a six month period where I'm CoHost Track:: not making the kind of money I'm making right now? CoHost Track:: Maybe not. Or maybe, you know, someone younger, like we typically get somebody CoHost Track:: who is, they just bought their practice, right? So they're coming off of an associateship. CoHost Track:: And so, you know, they're like, for them, it's just like maintain associate

CoHost Track:: income throughout the whole time. And then it pops into their group practice with a larger income.

CoHost Track:: That's kind of who we've catered to. And they They work with us, CoHost Track:: you know, they work with us on buyer's representation services, CoHost Track:: and then they usually are buying a practice with the idea in mind of going from CoHost Track:: a solo to a group and doing that transition, or they're usually, CoHost Track:: like, trying to buy a practice and hit the ground running. CoHost Track:: And that's kind of who we've catered to, right?

CoHost Track:: But if you've been a dentist for a while, and you've been making a, CoHost Track:: you know, a significant income for a while, it's a totally different proposition CoHost Track:: for you if you're like, no, like, Like, you know, this might sound weird, CoHost Track:: but like, no, no, no, like half a million dollars a year is like what I need. CoHost Track:: And, you know, it's like... CoHost Track:: Okay, well, like, you know, then we need to have options for you too.

CoHost Track:: And, you know, I think that like the next ask, George, that we're going to be CoHost Track:: talking about is really going through the fundamentals of hygiene-led growth. CoHost Track:: And like that, I think, can apply in any situation. CoHost Track:: And I think the real variable that each client or dentist needs to solve for, say, where am I going?

CoHost Track:: That was we always started with where are you right select CoHost Track:: your current location and where are you going and CoHost Track:: now we're adding a next question which is how long do you want CoHost Track:: to take to get there and how important is your income along the way right and CoHost Track:: so it's like we used to just ask two questions and now we can ask four and that CoHost Track:: i think is like what scott has added to our mix is you know we don't go from

CoHost Track:: you know point a to point b it's point a to point b how fast and how much money CoHost Track:: do you want to make along the way? CoHost Track:: And I think that that is really what we've added. CoHost Track:: And that is like, if you've been listening, like, what have they been saying? CoHost Track:: Like, this is so confusing. Like, they've been saying one thing, CoHost Track:: he's saying another thing. How do these two things kind of fit together?

CoHost Track:: Like, it really is, it's just helping you have more options and helping you CoHost Track:: answer more questions that can then point us in the right direction for you CoHost Track:: to go down the right path. CoHost Track:: And, you know, that's kind of like the net summary of, you know, CoHost Track:: how the two pieces of information collide.

CoHost Track:: And, you know, when you watch our courses, and when you come to our courses, CoHost Track:: which you should definitely come to our courses, like, we're going to be building CoHost Track:: on that, and you'll see it in a more completed way. CoHost Track:: And then you'll see kind of all the content around that kind of general framework and idea.

: That's what I was going to ask next and say next, which which is the most exciting : place to see all of this is in person as it all comes together and as it evolves, : whether you've taken our courses before or you haven't, : that's where the magic happens is the complete version of these options, : these avatars, the framework. : So wherever you are, come to our next course because it's going to be updated. : It's going to be significantly different. It's going to be better.

: And we can't avoid doing that. Every time we update it, every time we make it : better, this is this is like a a step and a major iteration so i'm i'm super : excited for what's to come.

CoHost Track:: Yeah i couldn't agree more and you CoHost Track:: know if you've been listening to the shared practices podcast for a number CoHost Track:: of years you know we we really appreciate you being part of the community it's CoHost Track:: been really fun for us to have scott come on and it's kind of been like a celebration CoHost Track:: of shared practices in a way because like he was so core to our story and in CoHost Track:: very many different Like he was an early guest.

CoHost Track:: He was very inspirational to us as entrepreneurs. CoHost Track:: And he, you know, his courses are something that we've modeled ourselves after. CoHost Track:: And so it's just, I think for us, it's been really cool and full circle. CoHost Track:: And, you know, it... CoHost Track:: It's worth it, right? It's worth it to bring on somebody of his caliber and CoHost Track:: iterate in a major way because the end result is something that I think we're all really excited for.

CoHost Track:: And so, you know, I just appreciate, you know, those who have continued to come CoHost Track:: back and continue to want to learn from us because it's created a really cool CoHost Track:: community that we're all a part of. CoHost Track:: So, you know, that's something that's one of my favorite parts about kind of CoHost Track:: podcasting is podcasting turns into community.

CoHost Track:: And that's something that I didn't expect on the way in, but I've definitely CoHost Track:: seen very, very obviously kind of through like, I got people who have been listening CoHost Track:: for years that are reaching out to me, messaging me debating about things that we say on the show. CoHost Track:: And it's like, yeah, that's a community aspect. And like, bring those questions

CoHost Track:: and comments to the Facebook group. Because that's where Scott's there, CoHost Track:: Richard's there, I'm there sometimes. CoHost Track:: And like, we can kind of like very directly discuss these things openly with CoHost Track:: other people who are listening and having their own opinions. CoHost Track:: So Richard, do you have anything to decide to close us off?

: No, I'll just say I'm excited for this next Ask George because it's like I said, : we're being very vulnerable on air and we want to address the stuff that's coming up for people. : So let's get back to it. But George, thanks for being on with me again. CoHost Track:: Absolutely, Richard. Can't wait for the next one. : Hey, we'll talk to you next time on Shared Practices 2.0.