Dentists are the highest risk group in the world for contracting the Covid and any other virus passing by. You are at greater risk than paramedics and respirologists in the hospital. (1) But unlike the latest heroes, hospital front line workers, you are disliked and vilified because the public thinks you make too much money.
If as a Dentist you’re worried about your future, you have good reason. If you have reopened your practice, you know already you are not as productive. Many are estimating a decrease in revenues of anywhere from 30 to 50%. You know your expenses are going up. A full set of PPE’s including shields, gloves, N95 masks (if you can even get them), and head covering, will cost you another $50 per patient. The value of your practice has dropped and the ”powers that be” want you to invest more money into equipment and structural changes.
But all is not lost; you do have choices, although most are “between a rock and a hard place.” If you would like to face the hard truths, please contact me.
This is no hoax. If you haven’t taken advantage of the $40,000 Federal interest-free loan for your small business (dental practice), Why Not? If you pay it back before December 31, 2022, you get to keep $10,000. This is a no-brainer! Ask your banker if you don’t believe me.
I’ve already shown you how to add $10,000 to your bottom line. I have listed over 64 ways you can increase your revenues or decrease expenses to help you improve the bottom line of your practice to help you recover from Covid.
Your Successes give you Confidence; your Failures give you Wisdom; a little bit of Luck helps as well.
No matter what you are undertaking, you need Confidence and Wisdom to be successful. Confidence without Wisdom will lead you to make stupid mistakes. Wisdom without Confidence leads to a life of frustration. As well, good and bad Luck can determine the degree of Success or Failure.
I have made $1,000,000 five times my life and lost it five times. Many would call me unlucky. I put it down mainly to poor timing (aka Luck) and lack of Wisdom (aka stupidity). Fortunately I’ve had the Confidence to make that million dollars back four times, (aka Creativity and Perseverance) and am presently starting on my fifth million.
I have gone bankrupt three times. Many people would call me a bad businessman and they would be correct. I’d rather call it naivety and a lack of Wisdom in the area of business management.
Timing and Luck tend to go together. If you have the Wisdom to understand the herd mentality of sheeple, recognize the cyclic nature of world events, and the Confidence to make major decisions, you can frequently foretell when the bubble is about to burst (aka buy low and sell high).
There is little to be said positively about old age except hopefully attaining Wisdom and the Confidence to trust your decisions.