Episode Details

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Bulletproof Dental Practice Podcast Episode 87

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Jairek Robbins

Watch full video of the interview by clicking here!

Key Takeaways:

• Everyone loves the idea of following your passion, but very few people can or will follow through
• What's the purpose of business?
  • 1 – Add value to the community around you
  • 2 – Generate revenue and profit to feed the families of you and your team
  • 3 – Create a place where the humans who are going to work there are going to become the best version they can be
• 50% of business fail in 5 years, 96% fail in 10 years
  • Out of the 4% that survive, only 39% are profitable
• Good to Great is about companies who focus on meaning vs. making money
• In 10 years, the S&P 500 grew 122%, Good to Great companies grow 331%, Firm of Endearment companies grew 1,026% over same period of time
• Firm of Endearment companies focus on culture, people care about who you are and why you do it
  • These firms do something beyond themselves for the world
  • They take care of their people and they take care of their community
• Dentists have the unique opportunity to shape people in an area where people tend to have a lot of fear
• 10 tenets of a firm of endearment:
  • 1 – Culture of learning
  • 2 – Culture of trust
    • You want your people to know the parameters in which they can operate autonomously and you can trust their decisions
    • Authenticity, say what you mean and mean what you say, transparency
  • 3 – Culture of respect
  • 4 – Culture of caring
  • 5 – Culture of interdependency
  • 6 – Culture of integrity
  • 7 – Culture of fun (be childlike, not childish)
  • 8 – Culture of transparency
  • 9 – Culture of belonging & oneness
  • 10 – Culture of loyalty
• Values of companies have changed
• How you treat your team affects the profitability of the company
• Is your practice a firm of endearment? Click HERE for a free assessment!

References:

Good to Great by Jim Collins

Firms of Endearment by Rajendra Sisodia, David Wolfe, & Jagdish N. Sheth