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If you’re stuck between two paths, ask yourself
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Key takeaways
- >> What's stopping me is manpower because dental offices need doctors.
- >> Uh, I would say 400,000.
- >> Uh, we don't pay anything because it's generally recommendations from other doctors coming coming to us.
- >> What would you be willing to pay to make 400,000 extra gross profit per year?
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Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I'm a dentist. We have four locations and we opened the fifth one next month. >> Congrats. >> We're doing right now around 15 million. >> And now you want to be at 50. >> Yes. >> Okay, cool. >> What's stopping me is manpower because dental offices need doctors. >> So, what are you making gross profit per year on a dentist? >> Uh, I would say 400,000. >> Gross profit, okay. What are you paying right now uh to acquire an orthodontist? >> Uh, we don't pay anything because it's generally recommendations from other doctors coming coming to us.
0:26>> What would you be willing to pay to make 400,000 extra gross profit per year? >> 50k. >> Okay. So, an 8x, you're like eight to one. >> So, let's do 200, yes. >> Okay. If you're willing to pay $50,000 or 100, you can absolutely go to headhunters, agencies, forums for orthodontists, pay the person who owns the community. What would it take for me to make posts in here to go recruit orthodontists? >> And then that means we have to invest right now in the beginning a big number.
0:54>> Yeah. >> But the 400k will come later on. It's not going to come in the first month. >> Yeah. >> So, that's okay. >> Yeah. I'll say it differently. You either pay in profit or in growth rate. So, if you want it to happen slower, pay less. Everyone's like, well, I mean it cost me nothing up to this point. And I'm like, yeah, and that's why you are stuck.