In this episode of Practice Growth HQ I speak with Dr. Kory Wegner about what to do if you find yourself in a business rut.
Dr. Kory graduated from dental school in 1991, before purchasing a dental practice and taking it from $200,000 a year to $2.5 million a year. Having retired from clinical work, Kory now helps small business owners to get control of their businesses, so they can get more money, more free time, and feel happy going to work again.
In this episode Kory shares the key steps you need to take if you feel like you’re in a bit of a business rut, so that you can fall back in love with your business.
If you’re ready to make a change in your business, you’ll love listening to this episode!
What you’ll learn:
- (04:21) Kory shares why he felt disenchanted coming out of dental school and what led him to buy his first practice
- (06:44) Corporate versus private practice: Why you need to be careful with any contract that seems too good to be true
- (07:24) Beware of the “Earn Out”: Kory shares a cautionary tale of his practice being bought out by a corporate entity
- (11:30) How to take your practice from $200k a year to $2.5 million (it’s simpler than you think!)
- (14:32) The critical importance of learning how to relate to your team (don’t make this mistake!)
- (17:46) How to recognise if you’re in a business rut and what to do about it
- (20:28) How Kory realised he needed to improve his clinical skills and why he committed to improving them in order to improve his business
- (24:46) Why training your team correctly is one of the keys to accelerating business success
- (31:38) Why building rapport with patients is the best retention strategy you could ever hope to have
- Plus loads more!
Links and Resources: