You can work hard to build a million dollar dental practice, but given the amount of fixed costs you’ll be dealing with, there’s not going to be much left.
If your practice doesn’t make a profit, it means you’re doing all of this for nothing. Money is flowing in, money is flowing out, but there’s no measurable progress happening.
Sleep is different. In the world of Restfull, you can build a million dollar sleep practice in 12-18 months. And you can do that with overhead of 35% or even lower.
With a million dollar dental practice, you’re working five days per week and have almost nothing to show for it in terms of profit.
With a million dollar sleep practice, you could be working as little as two days per week and walk away with $650K.
If these numbers are so obvious, clear and predictable, why doesn’t every smart dentist move into sleep and stop working so hard?
My hunch is that most dentists just don’t believe it’s possible. Not possible in general, not possible for them.
How many promises have you been given by gurus and experts who made it their business to tell you how to run your practice?
How many of those promises have been kept?
Every dentist wants to work less and make more. How many of the consultants that you hired over the years actually helped you achieve that? Any of them?
Are you working fewer hours than ever and making more than ever? I’m guessing the answer is probably no. Too many dentists have invested a lot of money in their success without that investment paying off.
When you see the world of sleep, it’s easy to think it’s just another shiny object that doesn’t work either.
You might be right, depending on your mindset, the type of work you like to do and who you partner with to learn the business.
Building a sleep practice is fundamentally different than building a dental practice.
If you want a well-paying job (but little overall profit), work in a dental practice. If you want to build a business that can produce without you being there every minute, that’s sleep.
We hold our Dental Sleep Medicine Blueprint events all over the country because it actually takes SHOWING UP WITH PROOF to help dentists understand this path to making it in sleep is REAL.
It’s not rocket science, but it does take work.
Smart work. Work you do once, not forever.
I have no idea how much money you can make in sleep. That’s entirely up to you. What I DO know is that you will be able to maintain a work/life balance that no traditional dentist is ever going to experience.
- Our next event is in Baltimore, MD in early September.
- Then we’re going to Kansas City, MO in October.
- After that, Austin, TX in November.
