The THEORY OF ABUNDANCE is simple.
It says, that if we grow our market, there will be enough available for all who want and need, to be able to live together and survive together without members of our community going without.
It’s about growing the pie…
The opposite of the theory of abundance is the theory of scarcity. In this theory, it is believed that to have the tallest building, we need to destroy all buildings that are taller than ours, and also destroy all buildings that have the potential to be taller than ours.
Rather than us just simply making our building the tallest.
Years ago I asked one of my mentors this question:
I asked him:
“I have a client I’ve coached and helped to more than double their business in less than two years, who has now decided to finish up with using my services and has decided to launch themselves as a ‘self-made coach’. What should I do?
My mentor advised this. He said:
“You can waste a lot of time and energy trying to stop them ripping off your material, but after all is said and done, they’re not you and never will be you, so just keep inventing new material. They will never be able to keep up with you. You are the point of difference.”
“That’s how McDonalds deal with their competitors…”
Great advice indeed.
In dentistry, there are advisors that have never been a dentist who advise dentists on what to think and do.
In fact, sometimes there are dental practice employees who believe that they know better than the dentist who employs them, even though these employees have never been a dentist and have never owned a dental practice themselves.
One of the things we do…
One of the things that my wife and I do really well as coaches of dental practices is that we help our clients grow their dental practices by keeping and retaining existing patients.
Because as practice owners, it’s exactly how we built a multi-million dollar dental practice of our own.
A lot of dentists believe that the only way to grow a dental practice is by acquiring more new patients. Sadly, while these dentists try to grow the number of new patients coming in the front door of their practice, the number of existing patients leaving their practice via the back door is way too high.
In terms of dollars and time, the cost of acquiring a new patient is seven times the cost of keeping an existing patient.
Why would anyone in their right mind spend seven times more than they need to be spending?
Probably because they haven’t been thinking about abundance…
The great thing about existing patients is…
The great thing about existing patients is that they love us [their dentists] implicitly, and they trust us, and they truly value our expert opinion.
And a new patient eventually will build that love and trust, but in the early days, the new patient is always a little cautious.
Helping a new patient build and establish that trust can often take several years…
As dentists and practice owners, thinking about abundance allows us to focus on the road ahead, and not be concerned so much about the road behind us…-
Dr. David Moffet BDS FPFA CSP is a certified CX Experience coach. David works with his wife Jayne Bandy to help SME businesses improve their Customer Service Systems to create memorable World Class experiences for their valued clients and customers. Click here to find out how David and Jayne can help your business