Podcast Episode #465: Finding Freedom through Practice Evolution – Creating Margin Right Now, Without Waiting for a Mystical Someday – Alastair MacDonald
Episode #465: Dentist Freedom Blueprint Podcast
Finding Freedom through Practice Evolution – Creating Margin Right Now, Without Waiting for a Mystical Someday – Alastair MacDonald
Many of us may dream of being able to take our foot off the pedal in our practice and put energy into something else. In this week’s podcast, you’ll hear about the overall mindset and actions taken by a particular doctor when he exited his practice early in life. (Last week, we took apart the framework of the whole DSO transaction and variables that need to be looked at to make the right move. Check it out here!)
Listen in to hear how this doctor executed his transition including building the right team and investing in the right infrastructure to set his practice up for success. You’ll learn the key details that helped him and his business partner navigate hiring, training, and setting up a solid system that works well for everyone. Alastair Macdonald also joins the conversation to help explain critical concepts that allow for more courage, confidence, and unconfined creativity.
Minute Markers:
2:16 – What gave this doctor permission to take his foot off the pedal.
4:54 – How to create a supportive staff and process that enables a practice to thrive.
7:18 – The challenge of finding the right administrative support.
8:30 – What provides a profound shift (and relief) in business.
11:24 – The superpower that everyone has access to.
14:04 – The importance of letting go, delegating, and bringing in help.
15:21 – How to lighten our mental burden.
16:52 – The difference between commitment and obligation.
Featured on the Show:
Alastair Macdonald: TEDx | DSN | Facebook
Canaries in the DSO Coal Mine – Analyzing Trends in the DSO and Private Equity Marketplaces (Part 1) – Alastair MacDonald: Ep #457
Freedom Founders Discovery Call
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
1. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.