This show is all about “freedom”. Entrepreneurs get into business for many reasons, but one of the huge benefits is the “freedom” that business owners have. Freedom is the dream. Freedom is the powerful force that keeps you working through the beginning stages of your business. Well, we all know that the level of freedom that we really want comes after you have built up the business so that you are no longer “in the trenches”. What does it take to get there? Learn form Dr. David Phelps, the dentist that discovered he could build a business that truly did have freedom. You will learn some of the mindset shifts necessary to create a business that gives you freedom and keeps you from having to do EVERYTHING in your business.
Get his specific approach to freedom that any business owner that is “in the trenches” can implement. Plus hear Dr. Phelps’s powerfully heartfelt reason for creating freedom in his dental practice.
Dr. Phelps also took his specific approach to freedom and has created a coaching practice to help other dentists and practice owners create this freedom for themselves.
David’s Target Audience: David is a former dentist who is now a freedom coach. He helps other doctors create their Plan B strategies and also shows them how to safely invest for their future freedom.
TWEET THIS!: “There's a barrier you'll reach in any business if the business is all about you.” ~ Dr. David Phelps
Dr. David is a shining example of how to turn crisis into opportunity. When his only child became severely ill about 10 years ago, he had an epiphany. Instead of being the financial fortress of his family, he understood that what they needed, and what he wanted to give, was his time and his presence. He didn’t want to spend every waking moment working in his business any longer.
His daughter’s illness coupled with that epiphany began a quest to shift his dental practice from being all about him to being a self-sustaining business. Because of the amount of time he spent in the hospital with his daughter, he set about finding ways to empower his staff to take care of the day to day needs of his practice.
Through systems and automated marketing, he was able to remove himself from much of the details and able to give his staff the freedom to use their skills and abilities to take care of the office.
TWEET THIS!: "Empower other people to compliment you, that's how you build an amazing business." ~ Dr. David Phelps
In this episode, here’s what we’ll cover:
- The High-Income, Low Net Worth Syndrome – what is it and how do you recover from it?
- Why he chose his niche and how he’s addressing a problem within it.
- Why it’s not about information, it’s about implementation.
- Why the value of marketing is so much more valuable when you know your customer.
- How she has difficult conversations with her clients.
- The setbacks he experienced and what he learned from them.
- 3 aspects to leadership: what are they?
- What made him sell his practice and then take it back?
- The necessity of leverage, whatever business you are in.
TWEET THIS: “Why not do what we love on our own terms?” ~ Dr. David Phelps
Practical & Actionable (at [29:42]):
Dr. Phelps has some very simple yet highly effective suggestions for practical and actionable steps on how to narrow down your business.
First and foremost he says to write down what you love to do. What are you really good at? Then write down what you hate doing or aren’t as good at. Now find others who love to do what you don’t like or aren’t good at – and empower them to be a part of your team and excel. When you do that, you’ll build a powerful team.
The other suggestion he has is to become a part of a mastermind group. Find a few other smart people and get their input on your business: from your current problems to your long-term strategies, share with them. Other people are so important to our personal and professional success because they can see our blind spots, they can see what we cannot. If you are interested in finding out what a mastermind is like schedule time with me to chat it up. I call these Business Breakthroughs because it is meant to be full of value for you and give you the next steps for your business. It is free too. Complete the questions and our team will follow up with you to schedule time for your “Business Breakthrough Session”.
RESOURCES AND LINKS MENTIONED IN THIS SESSION INCLUDE:
Do you have questions about today’s episode!?!
Did you know that you can apply to chat with me by phone? This is a limited time offer to help anyone that is serious about refining their business as well as developing a clear & compelling strategy that will drive them forward. Complete the questions and our team will follow up with you to schedule time for your “Business Breakthrough Session”. These are limited to 30 minutes, completely free and oh, so valuable. (Hint: these are similar to the conversations I had with Jason to help him fine tune and launch his lifestyle business.) Apply Now!
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The transcript will be available shortly – thank you!