THE AGE OF DISTRUST

The latest cause to distrust are the failures of Silicon Valley Bank and Signature Bank.  Now, the whole banking system, which funds our economy, has been called into question.  It’s put Sam Bankman Fried on that back burner, almost forgotten, as bank stocks plunge and crypto rises.

Where are people to invest their money?  Can you even stuff it into a Sleep Number mattress?

The Government has the answer.  You should give it all to them. And if not, they’ll just take it from you with all their newly minted IRS agents.  After all, they know how to use your moneyand protect you.  And if you’re a dentist, you’re rich anyway. No one will pity you.

Is that the Country you want to live in?

If so, why not consider moving to Denmark?  Or Canada?

Oh, sorry, they probably won’t let you in.  They have immigration quotas and other restrictions.

Too cold?

How about moving to Argentina?

What, 100% inflation too hot for you?

Just move to our southern neighbor where the Cartels run everything.  They can be trusted.

SO, WHO CAN YOU TRUST?

It’s a sad situation, but one we must be aware of in our personal lives as well as in business.  Customers, in our case, patients have lost trust in everything.

I started writing this blog when the pandemic started.  I wrote it to be consistent with one of my guiding principles of “practice what you preach”.  I recommended then to start, if you hadn’t already, communicating with your patients.

I wonder how many took my advice?

Early in my practice, I felt that it was an obligation to my patients to be their trusted source of knowledge about all things dental related.  Even in the early 80’s there was misinformation being spread.  Of course, the avenues for spreading BS weren’t nearly as effective, simple, and inexpensive, before the internet. Going VIRAL then meant getting the flu.

Today, anyone with a keypad and a thought can spread it to millions.

Back in the cave man days of dentistry, I started writing to my patients.  It started with a printed, quarterly newsletter called “Word of Mouth”.   Eventually, I added monthly blogs via email to the channel, and my first book, “What The Tooth Fairy Didn’t Tell You” in 2010.

I developed an open communication channel to my patients, one they paid attention to, as witnessed by the feedback we received (today it would be measured by ‘open rate’).  It was not just about dentistry, it was about the world and more important, ME and my practice team mates.

I moved my practice 8 times during my career.  From the Bronx to Upper Manhattan and then to 6 offices in Midtown.  Crazy?  Indeed, it’s not a path I would recommend others follow.

Yet, with all this moving I was able to retain nearly all of my patients.

How?

Through the communication channel I had started in 1984.

Amongst other things, it helped my patients maintain TRUST through:

Through each of these crises, my practice grew because I used the crisis itself as the reason to keep coming to the dentist and stay healthy.  Being healthy is way cheaper than being ill.  Ryan Holiday discusses this strategy in his book, “The Obstacle is the Way; The timeless art of turning trials into triumph.”

You can’t do that without a clear, open, effective communication channel.

This channel also facilitated the successful implementation of many practice programs such as:

Most practices get the order wrong.  They decide to implement a program and THEN begin communication.  TOO LATE!  But better late than never.

A reversed order can easily be perceived by a patient as a SALES process rather than communication/education, which might impart useful, valuable, and relevant information.

This coming Friday, I will be continuing the webinar series on DD$ (Don’t Do $tupid) Marketing.  In this, the third installment, I will be revealing one of 2 TRUST-BASED marketing systems that can be used even if you haven’t already opened a clear communications channel.

I used just ONE of these systems to build my satellite practice in New Jersey.   My mastermind buddy still uses it today to routinely attract $35,000 + “All On 4” patients from 3 States and beyond.

Combined, these 2 marketing systems can help you regain trust, open a communications channel, and defend yourself from competition and inflation, the 2 other raging threats to dental practice.

Success isn’t luck, it’s accomplished by intention, design, and implementation.

The Coffee With The Coach webinar is FREE but the recording is only available to members of The Liberated Practice program.

However, should you REGISTER for this webinar, you will receive access to the recording of this most valuable webinar, even without joining.

This webinar can change your practice trajectory and protect it.  More importantly, it can change the lives of potential patients.

People NEED what you have.  Most don’t know it.  That’s on you…and me.

Let me help you help others by REGISTERING for this webinar.

To your trusting relationships,

Michael