#124: Don’t Do Everything Forever

#124: Don’t Do Everything Forever

When I opened my practice and got more interested in the business side, I came across two leading schools of thought.
  1. The doctor/owner does everything.
  2. The doctor/owner does nothing.

They both have their benefits and their costs.

Today I want to talk mainly about the First One, the doctor/owner does everything.

The doctor/owner has two huge potential serious negatives.

If you are hurt or killed, you or your close one's have to find someone in a hurry.

Years ago, this happened to a patient of mine that was a dentist.

He died, and his poor wife got pennies on the dollar for his practice and was put into a tough place financially, even with his life insurance.

That was one of the primary motivators that inspired or scared me into looking for an associate after only being in practice for 5 or 6 years.

The other main negative is exhaustion and neglecting your health and family.

I know I talk a lot about this, but you still see many docs heading down that road.

In my practice, I have created a combo of those approaches.

I have people who can do everything to take time off, but I still work in my practice.

I stopped adjusting for about 3 weeks once and realized how much I enjoyed it.

So, I adjusted two days a week and ran the business and coaching docs on the other two days.

Then we launched the functional medicine component of our practice, and with one of my associates having less time, I am now adjusting 3 days a week.

However, I still have time to coach my son’s soccer team take my kids to Jiu-Jitsu, and I recently started doing Jiu-Jitsu myself.

The specific components might be different for you, but all these components are a part of a fun and happy life, which is part of the freedoms I talk about so often.


Keep Charging!

Dr. FJ Schofield

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