Change is Hard, but Required

Work Hard, Think for Yourself and Seek Others Who Do the Same

Picture of by Dr David Phelps

by Dr David Phelps

People avoid change in their lives as much as they can. Change is difficult for everybody, including me.

We all want consistency. We all want routine. We want security. It feels safe and comfortable to stay on the same path that we grew up on. This includes adopting the same beliefs and mindset as everybody else.

Especially the belief that as long as we work hard and do the right thing, we will live a successful and fulfilling life. I wish it were that way.

Change is imminent. Sometimes it’s not expected or wanted. Sometimes change is forced upon us. It can be upsetting and dramatic.

But through change and adversity comes great opportunities for transformation. Transformation in yourself is a change in pathways, a change in beliefs and the ideals of what can give people the life they're looking for. This is what leads to true freedom.

I'm not talking about all the money in the world or materialism. You can have what you want of that, but to achieve fulfillment, purpose, legacy, impact, and success (however you define those)… You have to go against the stream. You have to think for yourself. 

Having Your Own Opinions is Critical to Having True Success

Go against the grain. Be willing to be contrarian. Make up your mind and own your decisions. That is not easy to do. Yes, there is perceived safety in numbers. “If we all think the same, we must be okay, right? If I do what everybody else says to do no one will point me out and laugh at me, right? And if it doesn't work out, then at least I’m still with everybody else.”

But that is not who you are. I'm speaking to you now because you are an entrepreneur. You had to work hard to achieve what you have so far.

You struggled through barriers to get to the next step, to get to the next year, the next stage of your business. Your education, degrees, licensure, and everything else you've done in life distinguish you more as a risk taker than a non-risk taker.

Yet when it comes to planting your own defined flag of freedom, people are afraid. Drastically afraid. Why? Because it might upset the apple cart. It might not work. To fully embrace change, it’s crucial to learn from and be around other people who are doing the same thing.

I want to clarify here. It is not wise to be risky without rhyme, reason, or discipline. You should not be cavalier about life.

What I am proposing is to look at life differently and take action based on a different system from what most of us were brought forth with through formal education and traditional but outdated beliefs.

The Myth of Hard Work

I recently posted the following quote on a dental forum.

financial freedom, dr. david phelps

I am not saying you shouldn't be willing to step up and do the work. Working hard is a good virtue and a building block for success by any standard. It is essential, but it is only a vehicle, not the goal.

People ask me, “Why do you work so hard yourself, David?” My response: I love what I do. To me, it's not work. It's not a grind. If I wanted to, I could stop what I’m doing today to do anything else that I want. But I love what I do.

I did grind during different times in my life to get to where I am. Early in life, I had to work hard to pay bills, student loans, and start a business. I also put in long hours to learn about real estate investing.

I had to invest time and hours to learn how to invest in real estate profitably. But I didn't do it my whole life. Once I built a foundation, I continued to learn and elevate my relationships and collaboration with other people. I grew my network and used the compound effect (making consistent small decisions and consistently reaping increasing results) to achieve what I call inflection points.

Aim for Inflection Points

Instead of linear slow progression, inflection points are a dramatic advance of progress. If you hit an inflection point in compounding wealth or cash flow or in your business, it creates a massive opportunity to expand your freedoms. These inflection points are part of the potential for transformation I mentioned at the beginning of this blog.

To achieve inflection points you have to immerse yourself in an environment where others are heading in the same direction and are of the same mindset.

This is no judgment of the people you hang out with. They can be great people, but are those great clinicians and technicians who do amazing work, living the life that you'd like to live?

You have to discern that for yourself. Everybody should have the right to live their own life, but if you're not making decisions based on what is right for you, you will end up living a life full of regret.

I was fortunate to find people very early in life who catapulted me to change my mindset, elevate my skills, and think outside the box. They inspired me and as a result, I've lived a very good life.

Yes, I’ve had times of stress, times of adversity, no question about it. But my mindset was different, you could say better prepared for those times as a result. I came out on the other side every time, a better person, a better father, a better leader, a better business owner, and a better investor.

These times of adversity can also be inflection points where you learn much and gain much progress in a short time frame.

If you are looking for your own inflection point to further your progress toward your desired goals, I invite you to join a community with other people who are doing the same thing. 

That is what will move the needle faster for you than anything else.

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. Schedule a Call with My Team:

If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least $1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.

2. Become a Full-Cycle Investor:

There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they’re about to learn the hard way what others have gained through “expensive” experience. I’m offering a free report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here.

3. 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. Click here to take the 3 minute assessment and get your scorecard.

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