Entrepreneur: noun – one who organizes, manages, and assumes the risks of a business or enterprise.
Often, the typical practice-owning dentist doesn’t see him or herself as an entrepreneur. But given the definition, it seems to be a reasonable leap to make. And once you admit to yourself that you are running a business, you can begin to take advantage of the resources that others use to accelerate success. One of the most important resources is a dental business mastermind.
No One is an Island
One of the biggest challenges facing a business owner – including dentists – is the solitude that comes from being in charge. There is a lot of stress that comes along with being the only decision-maker, where every decision, from soup to nuts, is made by you.
“Dentistry can be a lonely place at times… unless you have someone supporting you, you won’t grow as far or as fast. A mastermind can help there.” – Dr. Al
Many dentists I know have turned to dental mastermind groups to overcome that isolation and help them stay focused on what will make them successful.
Watch Alex Nottingham, JD MBA, and his mastermind guests talk about their personal and professional successes that came from participating in dental business masterminds.
Dental Mastermind: Powerful Connections
Masterminds can bolster a sense of community, help you keep your business moving along the path to success, and can provide critical feedback to help you accelerate your growth. Depending on the composition of the group, you may benefit from perspectives of experts in other industries, or from experts in dentistry.
“Going to a mastermind is like someone holding up a mirror. It forces you to be honest with yourself.” – Dr. Al
An Outsider’s Perspective
One of the more powerful benefits of joining a mastermind is that it provides opportunities to really dive in and explore the nuances of business challenges you face. Part of that exploration is to get outside perspectives.
“Issues in the office? These other people have already figured out the answers…” – Dr. Ace
While you may have a loyal team, financial and legal consultants, or perhaps a business partner, it is invaluable to receive objective advice from unbiased experts who’ve experienced similar challenges and overcame them.
Show me the Money
Having access to experts when you need advice is one of the best investments you can make. One-on-one coaching, which can be very helpful for specific challenges, has been shown to have an ROI of 600%. But can you imagine the ROI when you have a dozen experts, all with the experience to be a coach, helping you in a dental business mastermind?
“Joining a mastermind can lead to double or triple their net…
Just one little idea can lead to huge improvements in
daily production…” – Dr. Ace
Mastermind: Your Inner Circle
One predictor of success, regardless of the business or industry, is who you are connected to. It is telling that the proverb, “Show me your friends, and I will know who you are…” exists in many cultures. Networking has long been understood to be a powerful tool for business people. Knowing the right people gives you greater access, facilitates sharing information, and can present unique opportunities for growth.
“It can be a bit uncomfortable, having people challenge you,
but from that discomfort comes tremendous growth.” – Dr. Al
Your typical dentist, however, will invest heavily in the latest shiny tools and technology but not in their networks. Investing in connections with others through participating in a mastermind group can give you a trusted inner circle to help you plan and make decisions, it can keep you accountable to those plans, and it can be a place to grow on a personal level.
“Masterminds have led to experiences that have
very much enriched my life and my career.” – Dr. Al
Dental Business Mastermind
All-Star Dental Academy’s Titanium Mastermind Group is committed to helping successful dentists become even more successful. The group act as your dental inner circle and brings all the powerful benefits that are associated with participation.
Visit www.allstardentalacademy.com/titanium to learn more.
In this podcast episode, Alex Nottingham, JD MBA, and his special guests talk about their personal and professional successes that came from participating in a dental business mastermind.