July 19, 2023 • 11 mins
Are you tired of your dental practice experiencing a slump during certain months every year? Discover expert tips from Casey and Jarrod on how to overcome this challenge and find relief. They will share tried and tested methods that will alleviate the pain and help your practice thrive.
Interested in more info on how to: Earn More, Save More, and Retire Early
Upcoming Tour Dates: Go to our EVENTS page for info
Facebook: Four Quadrants Advisory
Instagram: @fourquadrantsadvisory
LinkedIn: Four Quadrants Advisory
Interested in more info on how to: Earn More, Save More, and Retire Early
Upcoming Tour Dates: Go to our EVENTS page for info
Facebook: Four Quadrants Advisory
Instagram: @fourquadrantsadvisory
LinkedIn: Four Quadrants Advisory
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:03):
Hello, everyone, Welcome to theMillionaire Dentist Podcast, brought to you by
Four Quadrants Advisory. On this podcast, we break down the world of dentistry,
finances and business practices to help youbecome the millionaire dentist you deserve to
be. Please be advised we dospeak with an honest tongue and may not
be safe for work. Hello andwelcome. This is Casey Hires back at
(00:25):
the Millionaire Dentist Podcast in studio withco host Jared Bridgeman. Casey, how
are you doing thriving? Thank youfor asking. It's a lovely, lovely
day today. Who whoo hoo.Let's give our listeners some juice, man,
Let's give them something. Given thatjuice, juice them up. I'm
into it, Casey. Listen.You know every every business has a what
(00:46):
we call it like a slow period. Hold on, you just said every
I thought, my wife, there'sno absolutes. Most I've had absolutely before.
First of all, that's delicious,Okay, you probably make a mixed
with like peache, like a peach, absolute mountain dew. Just don't put
right in there. Back to collegeyears, so many businesses, a lot
of business owners would would recognize patternswithin their business, and some of them
(01:10):
would say, yes, there's certaintimes of the year that things may be
a little slower than normal, beit back to school time, vacation times,
you know, more than likely,you know, the holidays. And
yes, there's other months that couldpotentially make up for that. You know,
you're early busy times, but sometimesthose slow months or those slow weeks
can potentially hurt your business quite abit for you know, let's say payroll
or anything like that. Casey,are there things that we can you know
(01:34):
and still and then and tell ourlisteners here that may be good ways to
help with that how your practice cansurvive or thrive during a few slow months.
I wrote that down. I loveit. Is that what you're trying
to say? Sure, yeah,no, Well, this is an interesting
topic because there's ebb and flow toeverything. There's trends, there's patterns,
(01:57):
and we have a lot of practiceowners in a lot of different areas and
states, and for example, theones in Florida right, well, there's
snowbirds and there's some seasonal things there. We have folks, a lot of
practice owners in Michigan or if youtake into account all the lake homes and
people there in the summer, butmaybe not in the winter. So there's
a lot of geographies where there areslow times in heavier times. Some are
(02:22):
built in, like you said,for all those reasons, and they're opposite
of other areas. Right here inIndiana, people go on vacation and leave
the state. Well, right,And when I talk to these practice owners,
even though they've lived in these areasand practiced in these areas for a
while, they're always like, well, it's just always slow here, or
it's super busy here. But itsounds like they're frustration is annual. They're
(02:42):
annually frustrated typically, and if you'veonly owned, possibly for just a few
short years, you may not havea system in place to alleviate those those
downtimes. Well, yeah, whatwe want to talk about today is if
you're a practice owner and you experiencesome mountains and peaks with business whatever,
you attribute it to the areas wejust mentioned, But how can you prepare
(03:07):
right? So prior planning prevents problems? Those are four pas Okay, four
peas. I've been saying prior planningplanning prevents problems. Problem, that's big
time stuff. I love it.I don't give that out all the time.
(03:27):
Keep some stuff for the personal life. That's what the four peas in
your back is for. Yeah myshirt, right, Yeah, that's right.
Yeah. So I would say oneof the big ones could be is
if if your fet and your familylike to take vacations, it may not
be a bad idea to plan avacation during a time you know it's gonna
be slower. Well, you justsaid it. Planning. The best way
for this not to bother you.Every gear is to plan appropriately, right,
(03:51):
And you're exactly right. Everybody wantsto not everyone, I caught myself.
Most people would like to go ona vacation, go see some friends
or family, and so schedule thosethings. Again, some of this sounds
like a mister or missus obvious statement. But align your schedule with the ebbs
and flows of your practice schedule,right, I mean, take a look
(04:12):
at you know, usually fourth orJuly week is a big week for that.
I think people like to leave town. Um, yeah, for certain
industries. And again this is youknow, right, a dental podcast,
but it is. But yeah,no, there's that. Yeah, schedule
vacations, schedule things when you canlook. But but the key is know
your data. We talk about thatall the time financially, but from a
(04:35):
scheduling perspective, No, your ebbsand flows of your schedule draw some correlations.
You can't just go off one yearfor example. No, you need
three or four yep, right,yep. And so look at three or
four years of data and find thoseareas and in boom, now you have
a time where you could potentially schedulevacations. Wooo. Well. And the
nice thing about that too is onceyou have that data in place and you
(04:57):
it almost becomes expected for both youknow, you, your family and your
staff to be like, hey,we're gonna be closing the office during this
week during this time, which isgood, you know, because you know
most people like to have consistency ofHey, I can even start planning now
for next year's vacation because I knowroughly when it's going to be, so
it's always a bonus. Casey,would you what's another way that you think
(05:19):
we can help alleviate downtime like this? We have three more right right?
You probably want me to go inorder, I'm gonna throw your curR ball.
How about reactivation campaigns? That soundsgreat, Casey, What the hell
is that. Well, So solet's say you've you've there's three times a
year or four, I guess inthis example, where there is some downtime
(05:43):
where you can have opportunities for otherthings reactivation campaigns. You have patients who
they haven't been in for a while, maybe they fallen through the cracks.
That's a nice time for your staffor team to get in touch with them,
maybe for a cleaning or a checkup, or just touch base with them,
right, and so hey, spenda year. Yeah, most offices
have that data where they can pullhere are people who have not been in
(06:05):
for X amount of period of time, let's reach out to them. Obviously,
have strategy and verbiage and all ofthat thing and all of those things
mastered. But that can be anice time for a reactivation campaign. You
mentioned. It's as simple as likecleaning and and stuff like that, or
even you know, more of anoperation, right, like you can schedule
(06:29):
that in now I'm like, hey, this is we have time available on
June Yeah, fifth through the twelfth. Well, and that kind of runs
into run promotion. So if youthink about it, let's say you do
a reactivation campaign and you know whatyou have seven percent hit success. All
right, so let's say you've gotyou know, sixty new people that go,
yeah, actually I would like tocommit. Maybe part of your reactivation
(06:53):
campaign is that you're running in promotionduring this period of time that is typically
slower. So maybe you're giving themtwenty percent off of right cleaning. Now,
there's always fine print where maybe ifthey're certain insurances that you're already getting
scalped with, they might not qualify. But if they're a maybe a fee
for service paying person, then theynot. You're only not only doing a
(07:16):
reactivation campaign, but you're also runninga promotion to entice them back in.
But there's a lot that you cando with reactivation campaigns, running promotions,
scheduling your vacation. You mentioned cuttinghours, right, so it's a double
edged sword. If if you knowdifferent periods of time, maybe you're going
to condense some hours during two weeksor four weeks over the year. Condensing
(07:38):
hours can help with overhead because you'repaying your hourly employees. Less that being
said, some of the employees mightnot like that, So you know,
that's one you have to look atstrategically and really balance for yourself. But
no one could work to your favoritesometimes if if one of your hygiendas or
somebody is looking to take some daysoff in that time period. Anyways,
potentially. But the biggest one withthis, all this planning, and you
mentioned it off off Mike, waswhen you plan for something, you can
(08:03):
build in that safety net. Youcan build in the cushioning with your cash
flow in the practice and at homeand all those things so that you know
you're you're in a better position.And with that just again being proactive,
um and as you said, planning, so proactive planning are planning prevents problems
set Oh my, there's five.But having having you know, strong cash
(08:26):
flow, having h your safety nowbuilt in, you know, money wise
could also help alleviate that, UMcasey with all these things that we've been
talking about, if someone needed moreinformation, we want to talk about this
stuff, they could always come andsee you when you're speaking UM or talk
to you. You know. Vfwasalways he's available twenty four seven. UM.
But you're going to be somewhere soon. You're going to be with uh,
(08:52):
you're at the Georgia, the GeorgiaDINSL Convention. Yeah, yeah,
we're when that's in Georgia. Right, we're presenting at the Georgia the state
meeting. Yes, it's in thestate south of theirs Texas, Florida obviously,
but you're but you're gonna be onstage right talking, talking it up.
Yeah, there's a podium, there'san elevated surface, and no,
(09:13):
it's good, it's good stuff.We just came back from another state meeting.
But that subject matter is really important, a business side of dentistry,
and so we'll be presenting it there. We're also presenting it an implant course
outwest. So yeah, a lotof people. Um, we had a
lot of things coming up. Iknow, we're gonna be doing a tasting
and uh and a top golf eventsin um Saint Louis and August as well
(09:35):
as Minneapolis. So well, andyou're gonna laugh. But it's interesting how
many people, again we joked theycome to these events because they're ce junkies
or plate liquors. And then it'sthe you know, the specialist that comes
up and is already making half amillion bucks and they go casey like,
how do you know? Yeah,like, yes, I struggle with this.
I want to get better. Letlike, let's go I think are
(09:56):
already crushing it, just like lastepisode. Yeah, they're already doing pretty,
but they also know that they're notmastering all these areas, and they
would be like, hey, ifI can, if I can, I
want to, but I love thatperson versus the loudest cries come from the
cheap seats. To coin a phrasefrom our founder and had another point,
we already kind of wrapped up.I'm sorry, that's fine it listen,
(10:16):
It's fine that you you can't thinkfor yourself. Um, neither can I
at the moment. But Casey,I want to thank you for your time
and good luck with your with yourpresentation. I know you're going to kill
it and crush it. Casey,your advise, your presentation has been great
so far. Thanks. That's allthe time we have today. Thank you
(10:37):
to our guests for their insight andfor sharing some really great information. And
thank you to you the listener fortuning in. The Millionaire Dentist Podcast is
brought to you by four Quadrants Advisoryto see if they might be a good
fit for you and your practice.Going over to four Quadrants Advisory dot com
and see why year after year theyretain over ninety five of their clients.
Thank you again for joining us,and we'll see you next time. Boom one
Hello, everyone, Welcome to theMillionaire Dentist Podcast, brought to you by
Four Quadrants Advisory. On this podcast, we break down the world of dentistry,
finances and business practices to help youbecome the millionaire dentist you deserve to
be. Please be advised we dospeak with an honest tongue and may not
be safe for work. Hello andwelcome. This is Casey Hires back at
(00:25):
the Millionaire Dentist Podcast in studio withco host Jared Bridgeman. Casey, how
are you doing thriving? Thank youfor asking. It's a lovely, lovely
day today. Who whoo hoo.Let's give our listeners some juice, man,
Let's give them something. Given thatjuice, juice them up. I'm
into it, Casey. Listen.You know every every business has a what
(00:46):
we call it like a slow period. Hold on, you just said every
I thought, my wife, there'sno absolutes. Most I've had absolutely before.
First of all, that's delicious,Okay, you probably make a mixed
with like peache, like a peach, absolute mountain dew. Just don't put
right in there. Back to collegeyears, so many businesses, a lot
of business owners would would recognize patternswithin their business, and some of them
(01:10):
would say, yes, there's certaintimes of the year that things may be
a little slower than normal, beit back to school time, vacation times,
you know, more than likely,you know, the holidays. And
yes, there's other months that couldpotentially make up for that. You know,
you're early busy times, but sometimesthose slow months or those slow weeks
can potentially hurt your business quite abit for you know, let's say payroll
or anything like that. Casey,are there things that we can you know
(01:34):
and still and then and tell ourlisteners here that may be good ways to
help with that how your practice cansurvive or thrive during a few slow months.
I wrote that down. I loveit. Is that what you're trying
to say? Sure, yeah,no, Well, this is an interesting
topic because there's ebb and flow toeverything. There's trends, there's patterns,
(01:57):
and we have a lot of practiceowners in a lot of different areas and
states, and for example, theones in Florida right, well, there's
snowbirds and there's some seasonal things there. We have folks, a lot of
practice owners in Michigan or if youtake into account all the lake homes and
people there in the summer, butmaybe not in the winter. So there's
a lot of geographies where there areslow times in heavier times. Some are
(02:22):
built in, like you said,for all those reasons, and they're opposite
of other areas. Right here inIndiana, people go on vacation and leave
the state. Well, right,And when I talk to these practice owners,
even though they've lived in these areasand practiced in these areas for a
while, they're always like, well, it's just always slow here, or
it's super busy here. But itsounds like they're frustration is annual. They're
(02:42):
annually frustrated typically, and if you'veonly owned, possibly for just a few
short years, you may not havea system in place to alleviate those those
downtimes. Well, yeah, whatwe want to talk about today is if
you're a practice owner and you experiencesome mountains and peaks with business whatever,
you attribute it to the areas wejust mentioned, But how can you prepare
(03:07):
right? So prior planning prevents problems? Those are four pas Okay, four
peas. I've been saying prior planningplanning prevents problems. Problem, that's big
time stuff. I love it.I don't give that out all the time.
(03:27):
Keep some stuff for the personal life. That's what the four peas in
your back is for. Yeah myshirt, right, Yeah, that's right.
Yeah. So I would say oneof the big ones could be is
if if your fet and your familylike to take vacations, it may not
be a bad idea to plan avacation during a time you know it's gonna
be slower. Well, you justsaid it. Planning. The best way
for this not to bother you.Every gear is to plan appropriately, right,
(03:51):
And you're exactly right. Everybody wantsto not everyone, I caught myself.
Most people would like to go ona vacation, go see some friends
or family, and so schedule thosethings. Again, some of this sounds
like a mister or missus obvious statement. But align your schedule with the ebbs
and flows of your practice schedule,right, I mean, take a look
(04:12):
at you know, usually fourth orJuly week is a big week for that.
I think people like to leave town. Um, yeah, for certain
industries. And again this is youknow, right, a dental podcast,
but it is. But yeah,no, there's that. Yeah, schedule
vacations, schedule things when you canlook. But but the key is know
your data. We talk about thatall the time financially, but from a
(04:35):
scheduling perspective, No, your ebbsand flows of your schedule draw some correlations.
You can't just go off one yearfor example. No, you need
three or four yep, right,yep. And so look at three or
four years of data and find thoseareas and in boom, now you have
a time where you could potentially schedulevacations. Wooo. Well. And the
nice thing about that too is onceyou have that data in place and you
(04:57):
it almost becomes expected for both youknow, you, your family and your
staff to be like, hey,we're gonna be closing the office during this
week during this time, which isgood, you know, because you know
most people like to have consistency ofHey, I can even start planning now
for next year's vacation because I knowroughly when it's going to be, so
it's always a bonus. Casey,would you what's another way that you think
(05:19):
we can help alleviate downtime like this? We have three more right right?
You probably want me to go inorder, I'm gonna throw your curR ball.
How about reactivation campaigns? That soundsgreat, Casey, What the hell
is that. Well, So solet's say you've you've there's three times a
year or four, I guess inthis example, where there is some downtime
(05:43):
where you can have opportunities for otherthings reactivation campaigns. You have patients who
they haven't been in for a while, maybe they fallen through the cracks.
That's a nice time for your staffor team to get in touch with them,
maybe for a cleaning or a checkup, or just touch base with them,
right, and so hey, spenda year. Yeah, most offices
have that data where they can pullhere are people who have not been in
(06:05):
for X amount of period of time, let's reach out to them. Obviously,
have strategy and verbiage and all ofthat thing and all of those things
mastered. But that can be anice time for a reactivation campaign. You
mentioned. It's as simple as likecleaning and and stuff like that, or
even you know, more of anoperation, right, like you can schedule
(06:29):
that in now I'm like, hey, this is we have time available on
June Yeah, fifth through the twelfth. Well, and that kind of runs
into run promotion. So if youthink about it, let's say you do
a reactivation campaign and you know whatyou have seven percent hit success. All
right, so let's say you've gotyou know, sixty new people that go,
yeah, actually I would like tocommit. Maybe part of your reactivation
(06:53):
campaign is that you're running in promotionduring this period of time that is typically
slower. So maybe you're giving themtwenty percent off of right cleaning. Now,
there's always fine print where maybe ifthey're certain insurances that you're already getting
scalped with, they might not qualify. But if they're a maybe a fee
for service paying person, then theynot. You're only not only doing a
(07:16):
reactivation campaign, but you're also runninga promotion to entice them back in.
But there's a lot that you cando with reactivation campaigns, running promotions,
scheduling your vacation. You mentioned cuttinghours, right, so it's a double
edged sword. If if you knowdifferent periods of time, maybe you're going
to condense some hours during two weeksor four weeks over the year. Condensing
(07:38):
hours can help with overhead because you'repaying your hourly employees. Less that being
said, some of the employees mightnot like that, So you know,
that's one you have to look atstrategically and really balance for yourself. But
no one could work to your favoritesometimes if if one of your hygiendas or
somebody is looking to take some daysoff in that time period. Anyways,
potentially. But the biggest one withthis, all this planning, and you
mentioned it off off Mike, waswhen you plan for something, you can
(08:03):
build in that safety net. Youcan build in the cushioning with your cash
flow in the practice and at homeand all those things so that you know
you're you're in a better position.And with that just again being proactive,
um and as you said, planning, so proactive planning are planning prevents problems
set Oh my, there's five.But having having you know, strong cash
(08:26):
flow, having h your safety nowbuilt in, you know, money wise
could also help alleviate that, UMcasey with all these things that we've been
talking about, if someone needed moreinformation, we want to talk about this
stuff, they could always come andsee you when you're speaking UM or talk
to you. You know. Vfwasalways he's available twenty four seven. UM.
But you're going to be somewhere soon. You're going to be with uh,
(08:52):
you're at the Georgia, the GeorgiaDINSL Convention. Yeah, yeah,
we're when that's in Georgia. Right, we're presenting at the Georgia the state
meeting. Yes, it's in thestate south of theirs Texas, Florida obviously,
but you're but you're gonna be onstage right talking, talking it up.
Yeah, there's a podium, there'san elevated surface, and no,
(09:13):
it's good, it's good stuff.We just came back from another state meeting.
But that subject matter is really important, a business side of dentistry,
and so we'll be presenting it there. We're also presenting it an implant course
outwest. So yeah, a lotof people. Um, we had a
lot of things coming up. Iknow, we're gonna be doing a tasting
and uh and a top golf eventsin um Saint Louis and August as well
(09:35):
as Minneapolis. So well, andyou're gonna laugh. But it's interesting how
many people, again we joked theycome to these events because they're ce junkies
or plate liquors. And then it'sthe you know, the specialist that comes
up and is already making half amillion bucks and they go casey like,
how do you know? Yeah,like, yes, I struggle with this.
I want to get better. Letlike, let's go I think are
(09:56):
already crushing it, just like lastepisode. Yeah, they're already doing pretty,
but they also know that they're notmastering all these areas, and they
would be like, hey, ifI can, if I can, I
want to, but I love thatperson versus the loudest cries come from the
cheap seats. To coin a phrasefrom our founder and had another point,
we already kind of wrapped up.I'm sorry, that's fine it listen,
(10:16):
It's fine that you you can't thinkfor yourself. Um, neither can I
at the moment. But Casey,I want to thank you for your time
and good luck with your with yourpresentation. I know you're going to kill
it and crush it. Casey,your advise, your presentation has been great
so far. Thanks. That's allthe time we have today. Thank you
(10:37):
to our guests for their insight andfor sharing some really great information. And
thank you to you the listener fortuning in. The Millionaire Dentist Podcast is
brought to you by four Quadrants Advisoryto see if they might be a good
fit for you and your practice.Going over to four Quadrants Advisory dot com
and see why year after year theyretain over ninety five of their clients.
Thank you again for joining us,and we'll see you next time. Boom one
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!