Uncategorized

2X vs 10X

Here’s a question for you:

Is it harder to double (2x) where you are today in your business, investments, productivity, and profitability – or to go to 10x?

 

 

The quick, obvious answer would be that 10x is harder

But what if I told you that it’s actually easier to go to 10x?

Here’s why:

When we think about doubling something, that usually means we’ll just work harder, cut costs, and find ways to get new customers and increase productivity. That’s a good thing, but you’re working harder to squeeze that extra out. What are you going to do to get an increase beyond that? It’s going to get harder and harder if you don’t change the model in which you’re trying to expand. You’ve got to learn how to leverage in your life or you’ll end up with only incremental growth.

I love the word “leverage.”

It’s really all about leverage. You can only add so much efficiency to your procedures and productivity as a dentist – naturally, there’s a limit to what any one of us can do.

So how do we go from 2x to 10x?

Instead of focusing on the technical part of what you do, focus on the whosYou’ve got to bring on other people. One of the key things I’ve done in my life is getting an executive assistant. She handles my accounting, billing, invoicing, bookkeeping, credit card payments, email, and phone communication. I don’t talk on the phone at all unless I’ve got an appointment to talk to someone specifically. She also manages my travel and my calendarWe block out my free time on the calendar, and some of that free time is to spend on myself and hobbies like playing tennis. 

Some of it is what I like to call “think time” when I work more on the business.

Most people don’t give themselves nearly enough think time because they’re so busy trying to grind out more in the time they do have. That’s what we’re taught to do, but it limits you. So who are the people on your staff who free up your time? Whether you’re focused on the chair or the business, you’ve got to look down the line and see who could make everyone on your staff more productive – virtual assistants are an example.

Start focusing on who can make a difference in your life. 

You can eventually turn that into collaborations with other companies – but that’s a blog for another day. Start with your own life, and then you can branch out into collaborations with other businesses. Strategic alliances and partnerships with others – that’s what will give you freedom.

To your freedom!

David

 

 

P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :

1. Get Your Free Retirement Scorecard:

Benchmark your retirement and wealth-building against hundreds of other practice professionals and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.

2. Attend A Workshop:

If you’re committed to Freedom, but still building a practice, paying down school debt,  or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!

3. Apply To Visit The Mastermind:

If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.

4. Want to Work Directly with Me?

If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.

Leave a Reply

Your email address will not be published. Required fields are marked *