#29: The Build-Up Weekly

Author

Trevor Kimball
December 08, 2023

*Welcome to the 29th edition of The Build-Up, where we deliver insights and inspiration for dentists on every stage of the private practice journey. If this email was forwarded to you, you can click here to subscribe.

Dear friends and colleagues,

I hope you’ve all had a good, productive week. Happy Hanukkah to all our friends celebrating!

Here’s what I’ve got lined up today:

  • Getting Started is the Hardest Part

  • Be More Persuasive as the Guide (Better Case Acceptance)

  • New California Sick Leave Law for 2024

Let’s go!

Getting Started is the Hardest Part

I saw an older tweet this week that resonated, and I thought I’d share:

If you’ve been thinking about it…

…whether ‘it’ is:

  • selling your practice

  • buying your first practice

  • buying your fifth practice

  • hiring a consultant

  • getting on top of your expenses

  • scheduling regular team meetings

  • scheduling performance reviews with your team

  • or anything else

starting is often the hardest part.

So take that first step.

Show up.

If you’re looking to buy a practice, click here to get started.

If you’re looking to sell your practice, click here to get started.

And whatever you’re looking to do, remember that worrying about the task is often harder than the task itself.

You can do this!

Be the Guide for Better Case Acceptance

In his book, Building a StoryBrand, Donald Miller makes the case that you should position yourself and your business as the guide instead of the hero.

What does this mean?

In the book, Miller outlines a ‘story framework’ that we see at work in the best, most memorable stories. We see it in novels, screenplays, and - yes - businesses and brands.

So how does it work?

Take a look at this diagram:

I could talk about this more, but this newsletter was getting long already…

Here’s the basic insight: we all have a story with ourselves at the center.

And if we want to be compelling to our customers, we need to enter their story rather than pull them into our story.

Your patients don’t want to feel like they’re part of a story where you become the best, most respected, most profitable dentist in town.

Instead, they are on a heroic quest of their own.

They have their own problems.

And they’re looking to you as a dentist to help them solve them.

So, show your patients that you are on their wavelength.

Here’s a great ad that illustrates this point well:

“They asked me where I wanted to go.”

This is such a powerful first step, and it’s an attitude we try to incorporate with all of our clients at Integrity Practice Sales.

So if YOU want to build a practice with better case acceptance (though this can work with anything you want to sell), consider starting with what the patient wants.

It’s the difference between:

“Bad news. You need two crowns.” and

“Good news. I can help you keep your teeth, and we’re going to accomplish this goal of yours by giving you two crowns.”

Sometimes the framing can make all the difference.

2024 CA Sick Leave Changes

2024 is right around the corner, and with it comes some new benefits for California employees.

Employees in California will be allowed to take five days (40 hours) of paid sick leave — up from the current three — beginning Jan. 1, 2024, under legislation signed into law in October. 

The law applies to employers of every size, and all salary and hourly, full-time, part-time and temporary employees who work in California are eligible for the five days of leave provided they work for the same employer for 30 or more calendar days.

Under the law, employers must:

1. Update their workplace policies to reflect the increases.

2. Continue to provide employees with the amount of available Paid Sick Leave, either on the employee’s printed wage statement or in a separate written document provided on the pay date.

3. Pay the employee for any used sick leave no later than the payday for the next regular payroll period.

From the CDA Article linked below

I pulled this info directly from the CDA website, and you can see the entire article here.

And if you’re totally sick of this kind of thing, maybe it’s time to sell your practice. 

We have many, many more qualified buyers right now than we have good practices to sell them.

Values are high now, and we never know what 2024 (an election year) will bring. If you’re on the fence about selling, start with a simple conversation.

We promise to listen, to give honest, straightforward transition options, and to help you make a clear, reliable plan to meet your goals.

And with that, I hope you enjoyed the 29th edition of The Build-Up Weekly.

With best wishes to you and your families,

Trevor Kimball, PhD

p.s. please use the link below to share our newsletter. 🙂 

These Six Mistakes Can Cost You Six Figures

Download our free guide “6 Mistakes to Avoid for a Successful Practice Sale” here. It’s material that I’ve covered in this newsletter before, but - if you’re contemplating a practice sale - the advice in this guide is crucial.

And if you’re ready to have a conversation with a practice sales professional, get connected with your local Integrity Practice Sales broker here.

It’s worth having a conversation, no matter your current transition plans.

You never know what you’ll discover together.