Dr. Paul Bass the co-founder and Director of Fortune Management is here today. Fortune Management is a medical coaching practice that helps doctors and owners find out what they want and then achieve that.
Dr. Bass is a dentist who practiced for 21 years, before founding Fortune Management with Tony Robbins and two other founders. Today it is one of the biggest practice management resources available. Dr. Bass shares his story of how he got involved with Tony Robbins and the importance of asking the right questions.
In this episode, he shares smart strategies for dental practices and getting your team to share your vision. He also shares knowledge for how to live a better life by having a vision and creating a life plan and working backwards. This episode is packed with knowledge that you won’t want to miss.
[02:30] Dr. Paul Bass, Tony Robbins and two other people founded Fortune Management in 1990.
[02:46] Dr. Bass practiced for 21 years in Tullahoma, TN.
[02:54] In 1988, Dr. Bass’s room mate gave him a copy of Unlimited Power. It took him about four months to get started reading the book, but once he started he finished it in about four days.
[03:36] Make a point to meet your heroes.
[04:23] Dr. bass reached out to Robbins International to see if he could take a seminar.
[05:15] He ended up asking Tony Robbins to come do a seminar where he was at. The fee was $50,000, so he got 50 of his doctor friends to attend the seminar and pay a $1,000 fee.
[06:45] Dr. Bass ended up asking Tony if he wanted to have a branch in healthcare. Maybe it was divine intervention, but a partnership was formed.
[08:56] One of the goals was to preserve private practice fee dentistry.
[09:19] Wants and needs always exceed available cash flow.
[12:27] When your staff has ownership in your vision, it is way different than just the doctor having a vision.
[13:32] Look to the future and take care of your end game and take your team with you.
[14:06] 80% of getting anything done in life Is knowing why to do it.
[14:53] To get your team to buy into the vision, you need to let them help create the vision.
[16:09] When talking about transformation use emotion evoking words.
[16:33] To create a team mission statement have everyone write down emotion evoking words that express their calling in dentistry.
[25:08] The four cornerstones of building unstoppable team include shared vision. Begin your staff meeting by reading the vision and sharing.
[27:22] It’s also helpful to acknowledge people.
[28:25] A set of operating principles that we call agreements. These provide certainty. Have the team decide how they are going to be together.
[31:05] Communication is the third cornerstone. It needs to be open positive communication.
[33:41] A reality check is a communication tool that is a series of questions that allows you to stop and reassess the situation no matter how upset you are.
[35:57] The fourth piece is relationships. Having a shared vision, agreements, and communication leads to a positive team relationship.
[37:55] Coaching is taking on someone else’s commitment as if it was your own. Then interacting with them in such a way that they get the desired result.
[43:26] If you want to find out what people value, ask questions.
[45:48] Being on a cohesive team is what keeps quality people around.
[48:08] It’s not about making money now, it’s about creating a plan so that you are free and money is abundant.
[53:11] Sully has been in a funk lately. As the leaders go, so the team goes.
[54:04] We need to be able to manage our emotional state no matter what is going on around us. The most profound thing Dr. Bass learned from Tony is state management.
[55:15] You can change your focus by asking yourself a better question. This can change your thought process immediately.
[58:14] A coach can ask you questions that drives you towards your vision.
[58:37] The ultimate success formula. Number one know your outcome.
[59:42] 500mg of niacin every day to lower your cholesterol and two tablespoons of Metamucil in water before each meal.
[01:02:27] A decision is to cut away from something. If you have a behavior that isn’t empowering cut away from it.
[01:02:55] Master your mind, body, and relationships.
[01:04:04] Create a lifetime plan and work backwards.
[01:05:00] Create outcomes as opposed to goals.
[01:05:19] To accelerate numbers in your practice, accelerate your hygiene re-care program.
[01:10:09] If you schedule your re-care patients 6 months and 2 weeks in advance, then if you have cancellations, you can call the next schedule of people and have them fill those spots.
[01:12:18] Fortune Management is a franchised company.
[01:19:48] The three domains of knowledge. What you know. What you don’t know. What you didn’t know you didn’t know.
As always thanks so much for listening! If you like the show we would love for you to review the show on iTunes as well as spread the word! If you have any questions or want to get in touch, shoot me an email at email@example.com.
Links and Resources:
The Millennial Dentist Website
@Millennialdentist on Facebook
@MillennialDDS on Twitter
Dr. Sully…@Millennialdentist on Instagram
Dr. Peyman…@drpeyray on Instagram
Dr. Sully’s website and blog