One Million, Israel, Gabrielle discussed on Dentistry Uncensored with Howard Farran
Did a lot of money. That's you should. that's what you should focus. And and that's the time you can you. Can you can make a lot of money and if you walk in in the right way as a dentist and as a business you can make a lot of lot of money so this selling of your practice will be only a bonus. I mean. it's not money that you you depends on now. I'll tell you one thing i in. In in the fifteen years of my experience in dentistry. I was involved in a lot of selling selling and buying dental practices and today today. It's very hard to build a to sell a reputation for for for a lot of money. I mean it's it's not easy. I mean you. You mentioned that a lot of lot of accounting and evaluate the practice with one million two million. When you wanna sell it. Nobody willing to pay the price but the best way to do to to sell a practice reputation. It's to adapt young dentists or young kid as you call it and you're not to work with him to work with them a few years and and to to let him by the your reputation the problem. The only problem is is to find the right. The right dentist. The right guy young dentists and you need a lot of luck in this in this situation so i always i return and said again make commodity. Make good money in your career. it's it's much easier than to find the right. Dentist young dentists. That will buy your your dental practice. I know we've gone over an hour. And i thank you so much for For this interview I still have a few more questions. Can i ask a couple overtime questions. You you talked about that you would pay a high genus on productivity and you would pay your associate dennis productivity as opposed to hourly wage and that would have more skin on the what about staff to you recommend staff bonuses. Do you think motivates or staff of course of course by the way in my book in my book there was all this kind of pain and you have to pay you have to pay your stuff bonuses and look you have to have your staff with motivation. A to make the sale to make the sale to not lose in the the the patient and nobody invent auto way then then to pay bonuses now. It's very simple. It's very simple. A you. Doing an average i dunno one hundred thousand a months. And you tell your stuff okay. That's the average you get. I don't know twenty five bucks hour. I don't know what the salary of over there. You pay them our and you tell them when we make win practice make hundred and fifty you get the bonus on five hundred and when the breakfast makes two hundred you make one thousand dollar bonus. I mean they have to work with they. They have to work with the bone bonuses. Says they have to know every day. What's the cell stern over. You have to say a a. You have to set goals monthly goals and to to ask them to achieve these goals. You know i said. I say when your staff a work without knowing what's the cells turnover every day of of the man's. It's like a basketball basketball player that plays without knowing the score. I mean it's it's wrong that your staff doesn't know they don't know if you had a good man or bed man's day should they should walk with girls and with bonuses and i say i said again what i said before eights how a business organization work and how then practice should work. I could listen to you for forty days and forty nights I really enjoyed your book. Enjoyed everything Oh this all to rafy fisher My gosh thank you roffe for fixing this up and everything and My gosh you got your work cut out. Its dentistry is getting more and more competitive. I think the need for consultants is going to go off the The charts and two. That's good for me. That's good for me. And i gotta tell the young kids you know when you this month. America's gonna have six t five hundred new dentist graduate from dental school this month. And when you come out of school. I just wanna remind all the kids at you became a doctor in dentistry. You still don't know shit about legal. Don't sign some contract without a lawyer. You don't know anything about real estate. Don't sign some five year lease on a real estate building and my gosh. Here's i'm not saying gabrielle is an old man. But there's guys out there that knows so much more than you about everything in business and don't reinvent the wheel get his book. It's only had five star ratings on amazon. Gosh is called. Turn your dental practice into a successful business. And what's also interesting with. gabriel is. This is Time-tested in several several countries around the world humans are humans dentistry dentistry. And i think business geometry and economics and calculus are the same anywhere you go around the world so focused on the dentistry. Because those who can do and those who can't teach and you just finish eight years being taught by dentists who don't own their own practice so get out there and learn the business or you're never gonna be profitable while you do gabrielle. Thank you so much for spending an hour of your life with me today. Talking to my home as it was an honor to podcast you. Dan q- it's my pleasure. I want i want when you come the next time to israel we go for dinner and and i would have to meet you. Well actually right now. I'm on a liquid diet so you have to take me to the bar. I can only do beer even better. Thanks i wanna. I wanna say something for the end of the this podcast. I wanna say something. I think it's very easy to succeed. As i mean when we come to dental practices and would we double and triple the sales and profit to profit in.