The Paradox of Success and the Three Steps Most Dentists Won’t Do.

The Paradox of Success suggests that the very skills, beliefs, and behaviors that brought you to your current level of achievement won’t necessarily help you maintain or grow that success. In fact, sometimes past success can even stand in the way of future progress.

I’ve been diving into this paradox as we prepare for our upcoming To The Top Study Club workshops: Taking Your Practice to New Heights in the New Year: Crafting Your Strategy.

I’ll admit, I struggle with this concept myself. I take a lot of pride in the journey that led me to where I am today. I can point to countless decisions, behaviors, and habits that directly contributed to my success. So, how could these same factors not continue to serve me moving forward?

In dentistry, the paradox of success comes down to a few key points:

Pride. We take pride in our achievements—and rightly so. Many of the traits that got us here will still be crucial for the next decade. But pride can also blind us. We often overlook the fact that we’ve succeeded in spite of certain negative or unhealthy habits. Recognizing that can be difficult.

Comfort in Success. Acknowledging that we need to rethink and improve our skills for future success requires stepping out of our comfort zones. Building new “muscles” and making the necessary changes is tough, especially when we’ve already achieved success. It’s hard to muster up the motivation to tackle hard work when things seem to be going well.

Success Blinds. One thing is certain: the world is always changing. And the dental industry is evolving right in front of us. To remain successful, we need to adapt our strategies as the landscape shifts.

Let’s consider some of these changes in dentistry:

• Declining insurance benefits
• Shrinking profit margins for many practices
• A decreasing desire among graduates to own a practice and rising DSO presence
• Increased private equity ownership of dental practices
• A rise in the high-volume business model in dentistry
• Dentists working longer days and patient wait times increasing
• Dentists feeling busier than ever—yet earning less than they did 15 years ago

You’ve heard the saying, “What got you here won’t get you there.” It’s true. Why? Because success is a moving target. What worked over the past decade simply won’t cut it for the next.

Here are the three steps most dentists don’t do: 

Step 1 - Think about the future. Put yourself in a quiet room and envision your business and life 10 years from now. What does success look like for you in 2034? Be specific. Write it down. 

Step 2 - Analyze the gap between then and now. Do so by answer these questions:

• To achieve your 10-year vision, what foundations need to be in place within the next 3 years?
• For that 3-year plan to succeed, what has to happen within the next year?
• How many days do you need to work next year? In 3 years? In 10 years?
• What do you need to produce each day to hit your financial targets?
• How must your practice’s financial performance evolve over the years?
• What size team will you need to support your growth?
• Do you have the right people on your bus?
• What is your current profit margin, and will it need to improve to meet your vision?
• Who is your ideal patient? Describe your avatar patient.
• Do your choices and strategies align with what that patient is looking for?
• In terms of patient volume, which business model are you aiming to dominate?
• What leadership skills do you need to improve to make your plan a success?
• What behaviors or habits do you need to eliminate in order to grow?

Step 3 - Formulate an actual action plan for your next 12 months. What specifically will you start doing, stop doing, and what must be accomplished in the next year for the 3 and 10 year vision to be off to a good start? 

Working on these three steps makes it crystal clear that the paradox of success is real. You can take pride in your past achievements and still acknowledge that new skills will be required for the next chapter. You can retain the habits that continue to serve you, while letting go of those that will hold you back. Above all, as leaders, we must recognize our blind spots and strive to get even better at leading those around us.

Failing to look ahead and adapt is why so many dentists today are scratching their heads wondering why what worked in the past isn’t working anymore. Why are their bank accounts shrinking while their time in the office is increasing? Why are their job satisfaction dropping, and why more dentists than ever are talking about burnout?

The good news? The solution is within reach. It’s a mix of strategic thinking and smart execution. Try it. You’ll be amazed at how clear your path becomes with the right planning. 

These steps are just a quick study of what we’ll be discussing next month in Milwaukee at our To The Top Study Club workshop. If you’re interested in more guidance on this process, join us. Surround yourself with other dentists who are all striving to improve a little each day. We’d love to help. Email me at barrett@actdental.com to learn more about how you can be part of this group.