Freedom Founders Mastermind Recap February 2016 – Part 1

Here’s a sneak peek inside the Freedom Founders Mastermind session:

Hold on! Want access to Part 2 and Part 3, (usually member only content)?
Go here for a brief survey and you get access to all the notes from the last Mastermind!

Key Takeaways

  • Doubt removes action and action removes doubt. Which do you perpetuate?
  • Don’t try to do it all yourself. Implement processes: build your culture by putting systems in place; hiring the right people; taking stress off the dentist/owner.
  • Our training as the “doer” doesn’t lead to our freedom, we must transition to the being the “owner”.
  • “What you know” can provide a nice income. “Who you know” can provide generational wealth.

Key Progress – Report From Members

Elite Member – Eric:

  • “I’ve greatly accelerated the plan for my wife’s retirement, was a 7 year plan, now looking at 7 months.”
  • “I’m now using weekly team meetings with scorecard review. I feel like I have a grip on my business, more accountability and less stress.”

Elite Member – Phil:

  • “I’ve engaged the EOS process in my practice, what a difference.”
  • “We overcame a huge partner roadblock with the advice from the group.”
  • “We’re now addressing 2 new vet hires and hired super nurse to help smooth the transition.”
  • Group Feedback:
      Hiring tip: Have associate candidates engage in a blind working interview, then shadow doctor to learn culture; hire if they pass muster.
      Onboarding tip: Put new doctors with fastest/best assistants to push them.
      Management tip: Employees violating cell phone policy? Have them write a check to charity for each infraction.

Elite Member – Scott

  • “We’re now systematizing in our practice after 25 years, thanks to this group.”
  • “We’re adding a new associate this summer.”
  • Group Feedback:
      Management tip: Spend 80% of your time on marketing and growing the business; let your staff spend that same 80% running the business.
      Management tip: Build systems to train multiple dentists to get yourself out of the way; give yourself the option to be selective about what you want to do.

Elite Member – Jon

  • “My practice went digital.”
  • “My wife overcame some fear and hesitation by networking, handshaking, and establishing personal relationships here at Freedom Founders.”
  • “I’m phasing out an ill partner and developing a plan for a new direction for the practice; partner is reluctant to discuss/negotiate.”
  • Group Feedback:
      Strategy tip: Focus on what you can control, your Plan B, not so much about the partner that is out of your control. Your partner deal will become a side effect of your Plan B. Create an option outside of the practice to give you some leverage on your partner deal and force some motion. Don’t work at 100% to build practice only to give half to partner.

Elite Member – Ross

  • “I see an exit plan where there wasn’t one before.”
  • “I have a new associate joining my practice this summer.”
  • “I completed an associate doctor boot camp and assigned modules to different doctors in my practice.”
  • “I appointed a new practice administrator – a great asset.”
  • “I’m about to finish my 28th real estate deal.”
  • “I changed CPAs (because of what I’ve learned here) and was surprised that my former CPA didn’t know some key decisions about my charitable giving.”

Elite Member – John

  • “I just closed a 3-month real estate deal.”
  • “My revenue went up 10% last year.”
  • “I’m applying the methods from The Compound Effect”
  • “We hit the wall this week but we pushed through it.”

Tactics, Resources, Books… OH MY!

Here’s what our community shared in the Tactical Lighting Rounds

  • Get your time back and break free from your practice by implementing EOS with Frank Curtin
  • “Pocket” app – – Use the handy app to save, discover and recommend stories that matter to you
  • Dentalpreneur podcast by Dr. Mark Costos is a great resource for practice owners
  • Catalyst University for team inspiration/regeneration –
  • Organize/digitize docs in Dropbox for estate organization, etc.
  • Gain more traction by using video testimonials and include your staff sharing why they stay at your practice to help build more engagement
  • Use co-discovery with patients; get them asking and they will want to take action
  • Use personal videos to advertise for an associate (example from a Freedom Founders member)
  • Look for local college students to handle your social media
  • Advice for associates: treat them like you would want to treat your son/daughter entering the practice: hold their hand and let go when appropriate
  • “Blink List” an app that provides digest versions of non-fiction books
  • Easy weight loss tip: drink more water; half your bodyweight in ounces; start your day with 3 glasses of water
  • Take time for yourself to reflect, rejuvenate
  • Implementation is key, action removes doubt

Helpful & Recommended Books

  • Newsletter Pro by Shaun Buck
  • The Compound Effect by Darren Hardy
  • Lessons from the Richest Man that Ever Lived by Steven K. Scott
  • The Organized Mind by Daniel Levitin
  • The Strangest Secret by Earl Nightingale
  • Traction by Gino Wickman
  • Get a Grip by Gino Wickman
  • Rocket Fuel by Gino Wickman
  • Halftime by Bob Buford
  • What Got You Here Won’t Get You There by Marshall Goldsmith
  • The Speed of Trust by Steven Covey
  • Getting Everything You Can Out of All You’ve Got by Jay Abraham
  • Selling the Invisible by Harry Beckwith
  • Thinking Fast and Slow by Daniel Khaneman
  • Fall Seven Times Stand Up Eight by John Mason
  • Pendulum by Michael Drew
  • Persuadable by Al Pittampalli

Hey! Want access to Part 2 and Part 3, (usually member only content)?
Go here for a brief survey and you get access to all the notes from the last Mastermind!

  • Dr. David Phelps's Best-Selling Guide For Dentists:
    “From High Income
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  • Dr. David Phelps's Best-Selling Guide For Dentists:
    The Ultimate
    Freedom Prescription
    Secrets from 14 Doctors... How They Created Generational Wealth in Fewer Than 5 Years
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