Podcasts Health Start Your Dental Practice Building Long Term Wealth In And Out Of Your Dental Practice

Building Long Term Wealth In And Out Of Your Dental Practice

Published: March 5, 2016, 4:47 p.m.

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When you open your own practice, there are things you must commit to:

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  • Long hours
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  • Hard work
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  • Sacrifice
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Sadly, one of the biggest regrets dentists have is putting so much into the business that they don\\u2019t enjoy life outside of the office.

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They go into the business thinking they\\u2019ll be able to enjoy life when they retire.

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But it doesn\\u2019t have to be that way.

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There are many ways to create passive income streams (and make yourself replaceable so that you can enjoy that extra cash flow).

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Dr. David Phelps specializes in helping dentists create a long term vision business (and their personal life). He then recommends ways to accumulate wealth through various sources.

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He is also a former practice owner, and creator of Freedom Founders, a place where people learn how to manage profitability.

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If you like today\\u2019s show, you\\u2019ll enjoy the bonus following. It\\u2019s Dr. Phelps\\u2019 Retirement Calculator that will show you the gap between where you are today and your goals.
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Here are a few things you\\u2019ll discover\\xa0in today\\u2019s episode:\\xa0

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  • The biggest regret dentists have after running a practice for several years (that would have allowed them to have more freedom sooner)
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  • The difference between a technical provider and a business owner
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  • The reason so many associateships fail
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  • A key decision that revived a practice that was close to going out of business
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  • One of the key parts of a business that most dentists don\\u2019t value
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  • The type of customers that many dentists overlook
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  • How becoming a better speaker can grow your business
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  • What to look for when you\\u2019re finding a place to work fresh out of dentist school
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  • The difference between wealth and money
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  • A word of caution about financial advisors
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Free Episode Bonus:

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If you found today\\u2019s episode helpful, then you\\u2019re going to enjoy the bonus.

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Don\\u2019t make the mistake of getting too tied up in your business for you to enjoy life.

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Today you\\u2019re getting access to Dr. Phelps Retirement Calculator so that you can calculate the gap between where you are today and where you want to be on the freedom scale.

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Click here to access that now.

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Quotes:

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  • \\u201cBuild a practice that you can be replaceable when or if you need to be.\\u201d -Dr. Phelps
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  • \\u201cEarn while you learn.\\u201d -Dr. Phelps
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  • \\u201cThe best investment for anybody is to invest in themselves first.\\u201d -Dr. Phelps
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Resources:

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Support The Show:

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Without you, Ambitious Dentists, this should wouldn\\u2019t exist.

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If you enjoyed today\\u2019s episode, please go\\xa0here to give\\xa0the show\\xa0an honest rating and review in iTunes.

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This allows me to evolve the\\xa0show as it goes on, and also helps spread the word to other podcast listeners since iTunes promotes shows with active engagement.

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