Stewarding Your Opportunities: Chapter 6 Of Master Your Mindset

[00:00:00] Welcome. You're listening to the GrowOrtho Podcast presented by HIP.

[00:00:05] This podcast is dedicated to orthodontists who want to stand strong in their

[00:00:09] market and be leaders in their community.

[00:00:13] Now onto today's show. Hey, it's Luke at HIP.

[00:00:17] And if you've been listening to the GrowOrtho Podcast, maybe for weeks,

[00:00:20] months, or in some cases years,

[00:00:22] you know that we typically interview an industry expert,

[00:00:26] whether it be someone working in the office or a consultant,

[00:00:31] or just a strategic partner for orthodontists. Well,

[00:00:35] we're going to change things up just a bit.

[00:00:38] And this year we've actually released four books.

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[00:00:56] And we hope you enjoy all these episodes on the practice growth series.

[00:01:01] Chapter six, stewarding your opportunities.

[00:01:06] God gave us stewardship over our ideas.

[00:01:10] You can either shrink in fear or step forward in faith to pursue them.

[00:01:14] Russell Brunson.

[00:01:18] There was once a farmer who spent his entire life searching for diamonds.

[00:01:22] After years of hearing stories of other farmers who discovered diamond mines

[00:01:26] and became millionaires,

[00:01:27] he sold his farm and spent all his time and resources on this diamond quest.

[00:01:32] He searched far and wide and traveled across Africa,

[00:01:35] always thinking that the next place he looked would be where he would finally

[00:01:39] find the diamonds he sought. As he grew older,

[00:01:42] he became more and more convinced that the diamonds he was searching for

[00:01:46] were out there somewhere just waiting for him to find them. Finally,

[00:01:50] to no avail and with nothing to his name,

[00:01:53] the farmer believed he had no other option but to end his life.

[00:01:56] One day, when the new owner of the farmer's land had been crossing the small

[00:02:00] stream on the property, he came across two beautiful large stones at the bottom

[00:02:04] of the stream. He picked up the stones, walked home,

[00:02:08] and placed them on his fireplace mantle.

[00:02:11] A few weeks later, a visitor came over and saw the stones.

[00:02:15] Shocked by what was before him,

[00:02:17] he asked the man if he knew what he had found.

[00:02:20] Yes, I believe they are two crystals.

[00:02:22] Many of them sprinkled or at the bottom of my creek.

[00:02:26] But these are the biggest and most beautiful, he replied.

[00:02:29] The man replied in disbelief.

[00:02:31] No, you have discovered the largest diamonds on this continent.

[00:02:36] The man sat on acres of diamonds free and clear on his land,

[00:02:40] that which was sold to him for practically nothing by a farmer who left

[00:02:43] his life behind to look elsewhere for the very thing he'd owned all along.

[00:02:50] Acres of diamonds.

[00:02:52] The acres of diamonds story was first introduced to me when I read the book

[00:02:56] Lead the Field by Earl Nightingale.

[00:02:59] It reminds me of when I was in my early 20s and still trying to figure out

[00:03:02] what I wanted out of life.

[00:03:03] Back then, I believed that what would make me happy would be far away from

[00:03:07] the small town I was born and raised in.

[00:03:09] I moved to New York City because of its big city allure,

[00:03:13] and I thought it would be the answer to building a successful career.

[00:03:17] I took a job with one of the best motion graphics studios in the industry,

[00:03:20] knowing full well I'd have to sacrifice other aspects of my life

[00:03:24] to work the long hours required.

[00:03:26] During this time, nothing could have stopped me from going.

[00:03:30] I had the mindset that this was what I had to do if I wanted to be successful.

[00:03:36] It wasn't until I lived in this new life that I had wanted so

[00:03:39] badly that I realized it wasn't for me.

[00:03:43] I had grown tired of working days and nights throughout the week,

[00:03:46] neglecting self-care and hobbies for the sake of my career,

[00:03:49] and ultimately missing my family, friends, and life back home.

[00:03:52] I knew that if I continued living this way,

[00:03:54] I would become even more miserable than I already was.

[00:03:57] I needed to make a change.

[00:03:59] I started reading many books about entrepreneurship, and the more I read,

[00:04:03] the more I realized that the side of me that had been hindered during

[00:04:07] this journey could revive itself if I put my all into it.

[00:04:11] I learned about developing a positive mindset and

[00:04:14] listened to the stories of my role models.

[00:04:17] I realized that I was destined for something more significant and

[00:04:20] had the means and mindset to do it if I was truly dedicated.

[00:04:26] As these revelations took hold in my mind, I also realized that the girl

[00:04:30] I'd been friends with for so long back home was the woman I wanted to spend

[00:04:33] my life with.

[00:04:35] I had many epiphanies during my time in New York.

[00:04:38] I moved back home, asked that girl on a date, and

[00:04:42] began thinking of ideas for my first business.

[00:04:45] Then as time passed, I married that girl and grew my first business.

[00:04:50] Fast forward to today, we have a happy marriage and a beautiful daughter.

[00:04:54] A successful business that continues to grow and

[00:04:57] a whole lot more to be grateful for.

[00:04:59] I had been sitting on my acres of diamonds this whole time, and

[00:05:03] it took me chasing a shiny object to discover what was right in front of me.

[00:05:10] Stewarding what you already have.

[00:05:12] I grew up believing we are put on earth to become good stewards.

[00:05:16] God entrusted us to take care of all the gifts and

[00:05:19] resources he has given us.

[00:05:21] When we utilize and maintain these gifts to the highest standard,

[00:05:24] we can better feel their impact and develop gratitude and

[00:05:27] appreciation for their existence.

[00:05:30] Many religions have teachings that encourage stewardship and

[00:05:33] responsible management of the natural world,

[00:05:35] human relationships and personal resources.

[00:05:39] In the Christian tradition, for example, stewardship is often understood as a way

[00:05:43] of living out one's faith by being responsible and faithful stewards of

[00:05:46] the gifts and resources that God has entrusted to us.

[00:05:50] This can include taking care of the natural world and its resources,

[00:05:53] using your time and talents to serve others and positively impact the world.

[00:05:57] And being a good steward of your personal resources,

[00:06:00] such as your practice, money and possessions.

[00:06:03] I would say many of us are guilty of neglecting these gifts because we no

[00:06:06] longer see them as such.

[00:06:09] We become used to their existence and take them for granted.

[00:06:12] We spend less time exploring what more they could offer and

[00:06:15] more time searching for other means to fulfill our wants and desires.

[00:06:20] The farmer in the story could have become a millionaire if he had taken

[00:06:23] the time to invest in his land and search for all it had to offer.

[00:06:27] Then he decided to mine somewhere else rather than steward what he already had.

[00:06:32] Perhaps he had seen those stones in his stream,

[00:06:34] but he wasn't aware of what a diamond in the rough looked like.

[00:06:38] Perhaps he ignored them because he didn't believe something so

[00:06:41] precious could exist in his own backyard.

[00:06:44] On the other hand, the new owner saw the beauty in the stones before he

[00:06:47] realized it was a diamond.

[00:06:49] He took that opportunity and it resulted in something great.

[00:06:54] Stories like these make you realize what life is all about.

[00:06:57] As a father, I'm teaching my daughter about good stewardship so she can

[00:07:01] develop an appreciation for the gifts in her life at an early age.

[00:07:05] Whether it's her family, friends, food or material possessions,

[00:07:09] just as my parents taught me.

[00:07:12] Applying Good Stewardship to Your Practice

[00:07:14] Your practice, as it is right now, is your Acres of Diamonds story.

[00:07:21] It is a goldmine of opportunities waiting to be cultivated and polished.

[00:07:25] I want you to think about your practice and tell yourself how you feel about it.

[00:07:30] What makes you happy about it?

[00:07:31] What would you like to change?

[00:07:33] Is there something holding you back from where you want it to be?

[00:07:37] Take a few moments to think about the answers to these questions.

[00:07:40] If you compare it to other practices that you consider better than yours,

[00:07:45] what makes them better?

[00:07:47] Is it the team?

[00:07:48] The patients?

[00:07:50] The location?

[00:07:52] There's no such thing as a bad practice, but there are orthodontists who believe

[00:07:56] their practices are bad because they're not as successful as the others around them.

[00:08:01] Yet orthodontists spend the same amount of time in school learning how to be a doctor

[00:08:05] and have the same capabilities.

[00:08:08] So it might be time to consider this.

[00:08:11] If the grass is greener on the other side,

[00:08:13] it's probably because it's getting better care.

[00:08:16] Those better practices aren't better because the doctor is superior to you.

[00:08:21] They're just putting more effort into cultivating and caring for their resources.

[00:08:25] They simply apply the principles that I am sharing to sustain a better mindset

[00:08:29] and higher energy.

[00:08:31] They are positive and focused on expanding.

[00:08:34] In a recent podcast, I asked Dr. Ben Fishbein about the importance of stewardship in his life

[00:08:39] and practice.

[00:08:41] According to him, the most financially successful orthodontist he knows runs a one doctor

[00:08:47] and one location practice and only works around 10 days a month.

[00:08:51] This individual has effectively stewarded their resources within their business,

[00:08:55] pouring everything into maximizing their profits.

[00:08:58] Dr. Fishbein emphasizes the principle of stewardship to achieve success and encourages others

[00:09:03] to avoid duplicating subpar models.

[00:09:06] Many orthodontists make the mistake of expanding too quickly, adding too many associates

[00:09:11] and locations without fully optimizing their existing resources,

[00:09:15] ultimately leading to lower take-home pay.

[00:09:19] But what happened if you changed your mindset

[00:09:21] and began applying the principles of good stewardship to your practice today?

[00:09:25] You already have everything you need.

[00:09:27] You just have to realize the potential and opportunities in each of the following aspects

[00:09:31] of your practice.

[00:09:33] No bad leads.

[00:09:36] Let's start with your leads.

[00:09:37] Have you ever caught yourself or your staff saying that you are getting bad leads?

[00:09:43] I want to make this clear.

[00:09:45] There is no such thing as a bad lead.

[00:09:49] Have you ever blamed your current situation on bad leads?

[00:09:53] When you automatically jump to that conclusion, you have sold your business

[00:09:56] and your land for next to nothing, and the next owner will profit from it.

[00:10:01] To steward your leads properly, you have to begin thinking that every lead is a new

[00:10:06] opportunity which can only reveal itself if it is nurtured properly.

[00:10:11] Orthodontists often forget that a lead is just a person.

[00:10:15] You cannot fault someone who has taken time out of their day

[00:10:18] to inquire about a service they hope will improve their life.

[00:10:21] What you should be asking is, who is responsible for tending to that lead?

[00:10:27] If this person is not putting in the time, energy or promptness required

[00:10:31] to nurture the lead and they go somewhere that does, why is the lead deemed the bad one?

[00:10:38] Recently at a Fishbind Fundamentals event that HIPCO hosted with the Fishbind team,

[00:10:43] doctors and their staff asked how to handle different leads presenting

[00:10:47] with all sorts of problems and concerns.

[00:10:50] Every question was about how they were troublesome, asking for too much or

[00:10:54] just not fitting the mold of the perfect patient.

[00:10:57] After Amanda Floyd, the COO and her team did an excellent job suggesting solutions.

[00:11:02] Dr. Fishbind said they could just send those patients to him

[00:11:06] and he would take care of them.

[00:11:08] While at the moment it was funny, he simply showed his compassion as a human being,

[00:11:12] recognizing that people wanted help and that he could serve them.

[00:11:16] Dr. Castilla understands that the vast majority of people are just not ready to start treatment

[00:11:21] due to financial reasons, and the others who do not want to start aren't able to for

[00:11:26] several reasons including dental clearance.

[00:11:29] You're going to get many people that are just not ready to start due to dental reasons.

[00:11:34] They have cavities, need a serious cleaning, and probably haven't seen a dentist in a few years.

[00:11:40] Unfortunately, I hear many orthodontists say that they're always getting help,

[00:11:45] that they're always getting leads that are not ready because they have cavities.

[00:11:49] Do you want to know how I respond?

[00:11:52] Why don't you help them address those problems?

[00:11:54] It's important to develop a dental clearance process in your office to help those people.

[00:11:59] Bring their teeth back to health so they can finally achieve the beautiful smile

[00:12:02] they've always wanted.

[00:12:04] You have to have a service mindset.

[00:12:07] If you do that, it's like a two-for-one win.

[00:12:10] They'll eventually get braces, but in the process, they will first bring their teeth back to health.

[00:12:16] Again, it's understanding you're not there to be the star of the movie.

[00:12:20] You're there to be Yoda.

[00:12:23] I want you to stop using the phrase,

[00:12:25] I have bad leads and replace it with,

[00:12:28] all leads are good leads starting today.

[00:12:30] Then retrain your team to do the same and reinforce speed to lead from front desk secrets.

[00:12:36] If they put in the required energy and pursue every lead from the minute

[00:12:39] they inquire about your services, this will no longer be an issue for your practice.

[00:12:43] Nurturing your pending list.

[00:12:48] It can frustrate your team when a prospective patient declines to start treatment.

[00:12:52] They've put in all this effort from the onset just to be rewarded with,

[00:12:57] I need to think about it.

[00:12:59] That's the nature of business.

[00:13:01] Not everyone will be ready to commit to something just because you want them to.

[00:13:06] In this situation, the best thing to do is to continue to see them as prospective

[00:13:10] patients until they start or explicitly tell you they are no longer interested in

[00:13:14] seeking your services.

[00:13:16] There could be many reasons they need to hold off starting treatment

[00:13:19] and it's probably not because they magically lost interest.

[00:13:23] Implementing a system that keeps your team on top of the people on the

[00:13:27] pending list is a great way to keep the momentum going.

[00:13:30] Making this a regular daily activity rather than something your team does when they have time

[00:13:35] lets the person know you care and ensures there is an opportunity for them to return

[00:13:39] when they're ready.

[00:13:41] People will always appreciate the kind gestures you extend to them,

[00:13:45] especially when it's coming from a team that continuously shows appreciation for

[00:13:48] everyone who walks through their doors.

[00:13:51] At a Fishbind Fundamentals seminar, people asked how often you reschedule

[00:13:56] someone who cancels consistently and how long you continue to call someone

[00:14:00] who says they are not ready to start.

[00:14:03] Unanimously every team member agreed that you call them and reschedule

[00:14:06] them until they start treatment.

[00:14:09] From that point forward, you treat them with the compassion and respect

[00:14:12] everyone deserves.

[00:14:15] Recognize each member of your team.

[00:14:18] A little recognition goes a long way.

[00:14:21] Whether it's thanking your team for a job well done with a gift card to their favorite store

[00:14:25] or promoting your rock star front desk coordinator to a higher position

[00:14:29] to acknowledge their hard work, your team members will not forget the times

[00:14:33] when you've shown your appreciation for their contribution to your practice.

[00:14:36] Think about how far they've come with you and how every day is a new opportunity for them to

[00:14:41] learn and grow.

[00:14:43] Each is filled with untapped potential that you can use in various positions within your practice.

[00:14:48] By paying attention to their strengths and understanding their weaknesses,

[00:14:52] you can consider new areas where they can thrive and provide them with opportunities to succeed.

[00:14:58] Alex Perry, Director of Patient Care at Fishbind Orthodontics,

[00:15:01] loves celebrating successes with her team in the Patient Care Center.

[00:15:04] When one of the team members has a record day, she rewards them with some online shopping.

[00:15:10] Essentially, this is an Amazon gift card that the entire team shares in the victory and celebration.

[00:15:16] Instead of just sending the winner home with the card to spend on their own,

[00:15:19] everyone on the team gets in on helping the winner decide what they want

[00:15:23] and then searches for the best options together.

[00:15:26] When the purchase is finally made, everyone feels the rewards joy,

[00:15:30] amplifying the whole team's sense of accomplishment.

[00:15:32] Amplifying the whole team's sense of accomplishment.

[00:15:36] At the other end of the spectrum, it is just as important to recognize

[00:15:39] when a team member is no longer serving your core values and mission.

[00:15:43] As difficult as it can be to cut an employee loose,

[00:15:46] you would be doing a disservice to them and your practice by keeping them on longer

[00:15:49] than they should be there.

[00:15:51] It can open the door for new employees to make their mark and begin their journey with you.

[00:15:56] And it will give the previous employee the option to consider new opportunities

[00:16:00] that align more closely with who they are and what they believe in.

[00:16:05] Ensuring your vision, mission, and core values drive your business.

[00:16:11] You've put the time and effort into developing your vision, mission, and core values.

[00:16:15] But could you tell me what they are if I asked you right now?

[00:16:19] How do you know if you're on track with your mission or not if you don't review it regularly?

[00:16:24] Are your goals aligned with your vision and mission?

[00:16:27] How about your procedures?

[00:16:29] Are all the processes in your office performed in alignment with your core values?

[00:16:34] Most people never look at their vision, mission, and core values again after they create them.

[00:16:39] These pieces are foundational to your practice and the impact you are making in your community.

[00:16:44] They must be front and center for everything you and your team does

[00:16:47] for them to truly infuse your actions and outcomes.

[00:16:50] To keep your vision, mission, and core values alive and well in your practice,

[00:16:54] make sure that the whole team knows that they are responsible for knowing them

[00:16:58] and acting in accordance with them.

[00:17:00] Review them at every team meeting.

[00:17:02] Pop quiz the team members and reward them when they get them right.

[00:17:06] Hire and evaluate based on the core values.

[00:17:09] Ask your staff to celebrate other team members who do something that

[00:17:12] clearly demonstrates a core value.

[00:17:15] You could spend a year just working on bringing your vision,

[00:17:18] mission, and core values to life in your practice,

[00:17:20] but the stewardship you invest will create an abundant harvest to share.

[00:17:25] Reviewing your short and long-term goals.

[00:17:27] Spending some time dreaming about everything that you want to create in your life can be exciting

[00:17:31] and inspiring. However, it's not enough to jot down everything you want out of life over the

[00:17:37] next five to ten years and then toss it into your drawer to never be looked at again.

[00:17:42] To bring them into your life, you need to review your goals daily until they become

[00:17:46] ingrained into your subconscious. The best way to do this is by incorporating them into

[00:17:51] your morning formula and reading or listening to them daily. When this becomes a goal,

[00:17:56] when this becomes a regular practice, accomplishing your goals will require

[00:18:00] far less effort as it will become almost as natural and innate as brushing your teeth.

[00:18:06] Your goals enabled you to open your practice in the first place.

[00:18:10] You saw the opportunity, took the leap of faith, and set out to make a difference.

[00:18:15] You provided opportunities to your patients by giving them better smiles,

[00:18:20] to your team members by giving them a place to grow and flourish,

[00:18:23] to your community by leading by example, and to yourself by always making decisions to be more

[00:18:29] and do more. The amount of impact and influence that you have is vast.

[00:18:33] You have everything you need to make a huge difference in your community

[00:18:37] and the responsibility that accompanies this is no small thing.

[00:18:41] Sometimes this can become overwhelming and perhaps a bit lonely since not everyone sets

[00:18:47] out on the path you've chosen. It's important to build yourself up and give yourself every

[00:18:52] possible advantage you can get to succeed. Investing in yourself is paramount and that's

[00:18:59] what we'll cover in the next chapter. Thanks for listening. If you'd like to learn more

[00:19:04] about HIP or any of the topics in this episode, send an email to hello at hip creative inc.com

[00:19:11] that's hello at hip creative inc.com or jump over to our website at hip.agency