Episode : #912: Are You On Track For 2024 To End?

Podcast Description

Kiera gives listeners advice on what they should be checking in on with their practices as 2024 begins to wind down. This could be finances, operations, staffing, or personal health. She also encourages setting strategic goals as you begin to forecast 2025.

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Transcript:

Kiera Dent (00:00.842)

Hello, Dental A Team listeners. This is Kiera Welcome to the podcast. I hope today is just an incredible day for you. I hope you’re loving it. I hope you just remember, hey, we’re in dentistry and dentistry is the most incredible thing that we can ever be a part of. You guys, just think it’s absolutely magic of what we get to do. It’s absolutely incredible of the lives we get to live. It’s absolutely incredible of the lives we get to serve and to help every day between our teams and our patients and our community. Like it is just magic.

that we get to be here. And so I hope all of you today, just like write maybe a little letter of gratitude of how grateful you are for this life that you get to live, for this practice you get to be a part of, for this community that you get to be a part of. Maybe journal it, maybe text it to somebody, because I truly do believe that we build momentum and seeing the good in our world is truly, I think, a talent. I think it’s a muscle that we have to strengthen day in and day out. And that’s really what I try to do on the podcast is bring you tactical

while also positively impacting your world. And so please share this with someone, leave us those five star reviews, download this podcast, put it in the Facebook groups, tag us while you’re listening, whatever feels right to you, because you doing that helps other people see this and other people who might be in darkness or not knowing where they’re going or maybe not feeling as optimistic about where we’re at in dentistry. This can be a great resource and a gift for them. So please share and just thank you for all of you that have shared and made Dental A Team Podcast the greatest podcast out there for dentistry.

All right, today I’m excited because it’s end of year. And end of year for me is like exciting and exhilarating and sometimes daunting. So I really, in our private consulting within Dental A Team, we actually do this where we prep our doctors and our teams to look at the next year and to really go through a deep dive review. This is actually my favorite time of year with our offices to deep dive them through.

What should we be looking at with it being end of year? So today on the podcast, I’m going to just take you guys briefly through it, but just know if you want that deep dive, please come join us on TheDentalATeam.com book a call with us, reach out. [email protected]. I am obsessed with planning and preparing and making sure our offices are thriving without worry. That doesn’t mean that every day is a great day, but it does mean that they always know the Dental A Team is going to prepare them and be planning ahead with them and looking down the line with them.

Kiera Dent (02:21.346)

because that’s what I feel like we need to do. And so often we’re very reactive because we forgot to be proactive. And so that’s what I’m obsessed with doing with our offices and doing it with ease. And so every quarter having a way to check in on these things, every quarter we assess where we’re at and where do we need to go and really being able to do that within our practices. So today, just thinking about end of year, a few things that you guys should be looking at as a quick highlight, like this is a very high level. I spend a good chunk of time preparing this for our doctors. We do it in our private doctor.

mastermind that we have every single month together. And then with our private clients, definitely working on this. just did it with my clients prepping for end of year. and like I said, I will give you a high level so you guys can have a taste of it. And then if you want to go deeper and one -on -one with your practice, be sure to join us. It is never too late to join. It’s never too late to take the step to a different life. It’s never too late to reach out for an expert who can guide you. And I would just encourage you, if you’ve been on the fence or you’ve been thinking about it for a while, do it, give yourself the greatest gift to have.

resource in your pocket. We never know when things will be hard for us. We never know when those days will come. This year, I haven’t shared this publicly, but I had a really, really hard year this year, probably the hardest year I’ve ever had in business. And I just think about what did I do to be prepared for that? I could never have planned for that to happen in my life. It happened so unexpectedly. It kind of came out of left field on me. And I think about how did I get through that? got through that with an incredible team, truly of people who supported me through it.

And I got through it with incredible coaches. Had I not built that incredible network of my business coach, my financial coach, my CPA who’s there with me, my lawyer team, I have a legal team, my personal trainer, my physical therapist. If I would not have had my mental therapist that I go to for therapy as well, that seven people in addition to my family and my team that were there supporting me, I would not have made it through.

And I had no clue that that hard time was coming. There were no warning signs. It came out of left field. And so I just think like, we never know when that’s going to be there, but having that advisory board around us to support us, to guide us, to give us the direction when we can’t see it is truly, I think, the greatest gift I’ve ever given myself, the most confidence I’ve ever given myself as a business owner. And so I think that’s where the passion comes of.

Kiera Dent (04:42.75)

You don’t know what you don’t know. You don’t know what’s coming ahead. But what we do know is we can always be proactively prepared for it. And so I think I have proactively prepared for the last seven years to be to this place. I brought in experts. I don’t want to know everything, but I know as a business owner, it’s my responsibility to know all those things. So I hire people. I have great consultants. I have great coaches. I have great people on my team to make sure that our business is always where it needs to be, no matter what my life cycle is.

So with that, I think that that’s actually something great to start off with for end of year. Where are you at with your advisory board? you have an amazing consultant? Do you have an incredible CPA that guides you? Does your CPA look ahead and do you know your tax planning? Where are you at right now for the end of the year? Are you prepared with that? Do you need to start saving? Do you need to make end of year expenses? Consulting, equipment, CE, different things that you want to do to grow your team for next year and for your business for next year.

Do you have a CPA that’s proactive or are they reactive and just send you a bill? Because to me, they’re a partner in the business with me and I expect them to be a partner with me. I expect them to be looking down the line where I’m not seeing things. Do you have a financial advisor that’s making sure that you’re on track for where you want to be when you retire and that all this work that you’re doing is actually going to the work and the lifestyle that you want to have when you’re done working. Do you have a plan for bringing in associates in an exit plan? What does your exit plan look like and do you have that mapped out?

with your consultant, with your financial advisor, with your CPA. So all of you are rowing in the same direction. And if not, let’s get that in place. Let’s look at this year. How did we do? Did we hit the goals we want? Did we not hit the goals? Why? I want you to get to the root cause of why. Why did we or why did we not? And I want you to answer it with no excuses. It’s very easy to say, we didn’t hire, but is that really true? Or did we just not look outside the box? There’s outside the box thinking there are people everywhere.

And to me, I don’t allow myself to have excuses for end of year. What happened? Why did we get here? What was the root cause of it? And I push my clients. I don’t let them just give me the easy of like, Kiera, it was a hard year. Yes, I always wrap them with a hug. Yes, I’m always there as a support. And yes, I’m always there to ask the hard questions because if we don’t have someone asking the hard questions and answering them ourselves, honestly, we are going to stay in a rut of excuses rather than action and execution. And to me, that’s the, that’s the worst place to be because you can’t get out of it.

Kiera Dent (07:04.11)

We’re constantly sitting in this swirl that we can’t get out of. And so really having somebody that doesn’t let you off the hook. I think that’s why my clients are with me for so long is because they know that I’m gonna guide them to where they wanna go. I’m gonna ask the hard questions, I’m gonna support them, but we’re also gonna get like, we’re gonna GSD and get some work done. And so looking at yourself, why did you or why did you not? Now setting goals for next year, it should be at least a 10 % growth minimum.

Unless you’re in heavy growth mode, then it could be higher than that. But something I’ve learned in a lot of the coaching and trainings that I’ve gone through is let’s make sure our goals are super achievable and attainable because that actually builds momentum for practices. Bringing on new doctors, looking at our forecasting. We have our doctors go through and they forecast out how many days off they’re going to be taking throughout the year. Doctors, I want you to take time off. Let’s do that. Let’s plan for that. And let’s make sure that we have a plan in place to set appropriate goals.

with the time you’re taking off to plan and prepare for it. So we’re not just haphazardly setting goals, but we’re actually strategically knowing where we need to go and what we need to do. So right now should be a time where we’re forecasting out what raises, what hires, what are our costs gonna be? What’s the time off that we’re going to be doing to make sure our goals are very realistic for next year as well. Right now you should be assessing every department, what’s going well, what can we improve on? Looking at your marketing efforts, looking at your accounting efforts, looking at your advice from your financial advisor efforts.

All these things are the things you need to be doing right now to be preparing for the end of the year to make sure that we’re on a great foot to ring in 2025. I really have learned that having a good plan in place, having somebody who, who like really pushes me to answer these questions. I love it. I love to be challenged. I love to look, I love to ask the questions. I love to get my team on board. So me myself as the owner, I need to do this first.

Then I take it to my team and I ask them the same questions. And then together we co -create the answers together that all of us are bought into. What’s our bonus? If we’re going to have a bonus, what’s our profit share? If we’re going to do a profit share, why are we working towards these goals? What is it getting us? Is it giving us the life that we ultimately want to be living? And if not, let’s make some changes to make sure it is. Are you happy with the work you’re doing? you fulfilled? would say 80 % of the time it’s okay. There’s going to be 20 % where we do not feel fulfilled and that’s okay.

Kiera Dent (09:20.462)

But 80 % of the time, do you feel fulfilled? Are you excited to go to work? Are you making the money that you want to be making? Is your team compensated the way you want to pay them? Do we need to make some adjustments and some improvements? You guys, what’s crazy cool about dentistry is every single thing that you want to do is fully within your control. All of it. We just need to be proactively planning rather than reactively responding. So proactively plan rather than reactively respond. I want you to be having the dreamiest life.

I want you to know that next year you’re going to hit the goals with ease rather than hoping and wishing and praying on everything, single possible star that we’re going to hit it. I have an office right now that’s been trying to add some doctors to their practice and our goals are a little shaky because we planned, we prepared. I mean, we’ve been working six months to find the right doctor. We’re not willing to just hire a doctor, but we’ve been working. And when I look at that, it’d be really easy for me as a coach to be like, guys, like great job. Like we did it.

But we looked at it and we said, all right, what do we need to do to make it strong? What do we need to do to find this person? We are not going to take the excuses with my team. We’ve been trying to hire consultants. So if you know anybody, don’t worry, we’re not poaching from your practice. But if you know someone who’s ready to take their next step and become a consultant, please email me. [email protected] or just send in your resume. We actually have it online. Like I said, we do not take anybody from practices. We consult. But if you know anybody, send them our way. But when we went to our meeting,

I asked our team, said, all right, what other things have we not done? We just keep doing the same thing and that’s freaking insanity. I’m like, I’m crazy about it. You guys are crazy about it. They are out there. What do we need to do to change? And it was interesting because when we came into it with that mindset, we came up with some incredible solutions that we have never thought of, but it was a must, not a wish. And so for you as end of year, how can we make your goals for next year be musts, not wishes?

How can we think outside the box? How can we like not let ourselves off the hook? How can we be like this office where it was like, all right, we’ve got to find a doctor. We’ve got to do these things for us. We need to find consultants. We’re not going to take this hiring’s hard. That’s for the weak. That’s for the offices that aren’t really here for it. Yes, that’s true. It’s fact, but guess what? Life’s not fair. And you guys are better than that. All of us are better than that. So let’s rise up to the potential that we have within us instead of falling to the mediocrity that is so easily available. Let’s rise up.

Kiera Dent (11:47.788)

Let’s be better next year, but let’s do it with ease and fun and confetti and glitter and all the happiness because I don’t believe that rising up has to be hard. I believe it needs to be disciplined and executed. I believe that we need to truly have good people around us and good support systems around us. I believe that every possible thing we want is out there. We just have to figure out how to find it and how to get there.

And honestly, right now I am truly here to say that Dental A Team has two incredible consulting models. We are rolling out something that I have never done before. And I am so excited. We are bringing people in person for the first time in Dental A Team’s life, because I decided I want people to have these conversations together face to face in person. I want people to have an opportunity for experts of dentists just like them to come together where they can actually share their best ideas with each other. We have brilliant.

Brilliant brilliant doctors within our community and I cannot wait to bring them all together I can’t wait to quarterly like really like Sexy whiteboard it out and like get to the root causes of your practice and do it with your coach and with a community of doctors Just like you I am so excited to be doing that We also have our online virtual one of a mastermind group that people are literally obsessed with either one There’s one -on -one. There’s custom for you

But I am so jazzed about it and it’s time. It’s time for you to take care of you. It’s time for you to take care of your practice. This beautiful, precious team and community and patients that you’ve been blessed with. It’s time to rise up and let’s proactively take charge. You guys like, honestly, we have never once not paid for ourselves in consulting. We always cover our costs and we give you so much freedom. If there’s an asterisk, because I had someone come to me and they’re like, Kiera, you said all this on the podcast and

that’s not what happened. And I did prove that we did exactly what we said, but you also can’t have the excuse of not showing up as well. You also have to do the hard things. You have to fire the people that are hard. You have to hire the people. You have to think outside the box. You have to be committed to these results as well, instead of sitting back and having blame and excuse. And to this doctor, if they are listening, there is so much love with this and there is absolutely no judgment because all of us are at different spaces in our world. But I know as a coach and a consultant.

Kiera Dent (14:07.854)

that there is an opportunity for all of us to rise up. And if we get rid of that amazing best friend who’s there with all the excuses and we bring on the one who has the solutions and that’s more of the one we listen to versus the excuses one, your life will be different. Your life will be better. Your practice will thrive with more ease than you could have ever imagined. And I can’t wait to have you be a part of it. So reach out. [email protected]. Let’s get you guys to that level and truly take the time right now to make sure that 2025 is successful with ease.

not with a hope and a wish. I promise it’s possible. I’m here to help you. I am so proud of you for being on this journey. You’re doing better than you think you are. Make sure you have the support around you as well, because then it can be done with massive ease. And with that, thanks for listening. I’ll catch you next time on the Dental A Team Podcast.