WINNING THE ENDODONTIC LOTTERY
DR. ACE GOERIG, Owner and Co-Founder
Many practices are having some of their best months ever, but will it last? Maybe yes. Maybe no. Dr. Goerig breaks down what you need to do to keep the ball rolling!
About 70% of people who win the lottery (or some other kind of large financial windfall) end up declaring bankruptcy within a few years according to the National Endowment for Financial Education. Unaccustomed to that level of wealth and how to manage it, they spend profusely, get suckered in by self-serving middlemen offering investment “advice” with shady promises, or pour their money into passion projects with little chance of seeing a return. One day the money runs out. While they had a short-lived moment in the sun, practically anyone with an objective view could see what was going to happen.
Right now, you are probably experiencing the same kind of heady rush as a lottery winner. After months in the pandemic and struggling with cashflow, suddenly you are flush with it. The surge of pent-up demand is flowing through your practice, you are probably busier than ever, and happy carefree days are here again. For now.
The surge will come to end soon as the pent-up demand is resolved. And that means your practice will likely settle at an ongoing level of productivity notably less than your average. The economy and employment levels, which I fundamentally believe WANT to rebound quickly, are still too hindered by coronavirus realities. It may continue to be that way until a vaccine is widely administered, and the most optimistic best-case scenario for that is 6 to 9 months from now.
Knowing the road ahead, you have a choice to either act like lottery winner speeding over the cliff of renewed economic hardship or steer your practice now to strengthen growth and develop effective systems. Growth is possible in any economy. At Endo Mastery, we have new coaching clients who started with us during the pandemic who have grown significantly. Yes, they have the same surge dynamics, but they have growth over and above the surge that will persist even when the surge subsides.
The combination of effective marketing, optimized systems, productive scheduling and improved teamwork in the practice means these new coaching clients aren’t just having some of their best months ever; they are going to have their best year ever—even with referrers shut down in the spring and during the worst national economy since the Great Depression.
Even better, once the economy returns fully next year, these practices are going to accelerate so much because they are building the framework for that elevated level of success now. I am so excited for them because that truly is winning the endodontic lottery: elite professional success and financial abundance that will enrich their lives—year after year—for the rest of their career.
We work very hard at Endo Mastery to help our clients achieve the best success possible in their practice. This year, we completely rebuilt our coaching process from the ground up to drive growth both during and after the coronavirus. The results have been tremendous. I encourage you to call Debra Miller, our Director of Coaching to discuss your options.
I promise you it is worth an hour of your time to decide if coaching is right for you.
All the best,
Dr. Ace Goerig, Owner